Submission for OMB Review; Comment Request; Extension: Rule 17a-12, 80969 [2024-23004]

Download as PDF khammond on DSKJM1Z7X2PROD with NOTICES Federal Register / Vol. 89, No. 193 / Friday, October 4, 2024 / Notices under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 17f–2(d) requires that records created pursuant to the fingerprinting requirements of Section 17(f)(2) of the Act be maintained and preserved by every member of a national securities exchange, broker, dealer, registered transfer agent and registered clearing agency (‘‘covered entities’’ or ‘‘respondents’’); permits, under certain circumstances, the records required to be maintained and preserved by a member of a national securities exchange, broker, or dealer to be maintained and preserved by a selfregulatory organization that is also the designated examining authority for that member, broker or dealer; and permits the required records to be preserved on microfilm. The general purpose of Rule 17f–2 is to: (i) identify security risk personnel; (ii) provide criminal record information so that employers can make fully informed employment decisions; and (iii) deter persons with criminal records from seeking employment or association with covered entities. The rule enables the Commission or other examining authority to ascertain whether all covered persons are being fingerprinted and whether proper procedures regarding fingerprinting are being followed. Retention of these records for a period of not less than three years after termination of a covered person’s employment or relationship with a covered entity ensures that law enforcement officials will have easy access to fingerprint cards on a timely basis. This in turn acts as an effective deterrent to employee misconduct. Approximately 3,800 respondents are subject to the recordkeeping requirements of the rule. Each respondent maintains approximately 68 new records per year, each of which takes approximately 2 minutes per record to maintain, for an annual burden of approximately 2.2666667 hours (68 records times 2 minutes). The total annual time burden for all respondents is approximately 8,613 hours (3,800 respondents times 2.2666667 hours). As noted above, all records maintained subject to the rule must be retained for a period of not less than three years after termination of a covered person’s employment or relationship with a covered entity. In addition, we estimate the total annual cost burden to respondents is approximately $38,000 in third party storage costs. VerDate Sep<11>2014 17:26 Oct 03, 2024 Jkt 265001 An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. The public may view background documentation for this information collection at the following website: www.reginfo.gov. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. Written comments and recommendations for the proposed information collection should be sent by November 4, 2024 to (i) www.reginfo.gov/public/do/PRAMain and (ii) Austin Gerig, Director/Chief Data Officer, Securities and Exchange Commission, c/o Oluwaseun Ajayi, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@ sec.gov. Dated: October 1, 2024. Vanessa A. Countryman, Secretary. [FR Doc. 2024–23003 Filed 10–3–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–442, OMB Control No. 3235–0498] Submission for OMB Review; Comment Request; Extension: Rule 17a–12 Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736 Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for approval of extension of the previously approved collection of information provided for in Rule 17a–12 (17 CFR 240.17a–12) and Part II of Form X–17A–5 (17 CFR 249.617) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 17a–12 is the reporting rule tailored specifically for over-the-counter (‘‘OTC’’) derivatives dealers registered with the Commission, and Part II of Form X–17A–5, the Financial and Operational Combined Uniform Single (‘‘FOCUS’’) Report, is the basic PO 00000 Frm 00115 Fmt 4703 Sfmt 4703 80969 document for reporting the financial and operational condition of OTC derivatives dealers. Rule 17a–12 requires registered OTC derivatives dealers to file Part II of the FOCUS Report quarterly. Rule 17a–12 also requires that OTC derivatives dealers file audited reports annually. The reports required under Rule 17a– 12 provide the Commission with information used to monitor the operations of OTC derivatives dealers and to enforce their compliance with the Commission’s rules. These reports also enable the Commission to review the business activities of OTC derivatives dealers and to anticipate, where possible, how these dealers may be affected by significant economic events. The Commission estimates that the total hour burden under Rule 17a–12 is approximately 540 hours per year, and the total cost burden is approximately $138,900 per year. The retention period for the recordkeeping requirement under Rule 17a–12 is not less than two years following the date the notice is submitted. The recordkeeping requirement under this rule is mandatory to assist the Commission in monitoring OTC derivatives dealers. This rule does not involve the collection of confidential information. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. The public may view background documentation for this information collection at the following website: www.reginfo.gov. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. Written comments and recommendations for the proposed information collection should be sent by November 4, 2024 to (i) www.reginfo.gov/public/do/PRAMain and (ii) Austin Gerig, Director/Chief Data Officer, Securities and Exchange Commission, c/o Oluwaseun Ajayi, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@ sec.gov. Dated: October 1, 2024. Vanessa A. Countryman, Secretary. [FR Doc. 2024–23004 Filed 10–3–24; 8:45 am] BILLING CODE 8011–01–P E:\FR\FM\04OCN1.SGM 04OCN1

Agencies

[Federal Register Volume 89, Number 193 (Friday, October 4, 2024)]
[Notices]
[Page 80969]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-23004]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-442, OMB Control No. 3235-0498]


Submission for OMB Review; Comment Request; Extension: Rule 17a-
12

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget (``OMB'') a request for approval of extension of the 
previously approved collection of information provided for in Rule 17a-
12 (17 CFR 240.17a-12) and Part II of Form X-17A-5 (17 CFR 249.617) 
under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
    Rule 17a-12 is the reporting rule tailored specifically for over-
the-counter (``OTC'') derivatives dealers registered with the 
Commission, and Part II of Form X-17A-5, the Financial and Operational 
Combined Uniform Single (``FOCUS'') Report, is the basic document for 
reporting the financial and operational condition of OTC derivatives 
dealers. Rule 17a-12 requires registered OTC derivatives dealers to 
file Part II of the FOCUS Report quarterly. Rule 17a-12 also requires 
that OTC derivatives dealers file audited reports annually.
    The reports required under Rule 17a-12 provide the Commission with 
information used to monitor the operations of OTC derivatives dealers 
and to enforce their compliance with the Commission's rules. These 
reports also enable the Commission to review the business activities of 
OTC derivatives dealers and to anticipate, where possible, how these 
dealers may be affected by significant economic events.
    The Commission estimates that the total hour burden under Rule 17a-
12 is approximately 540 hours per year, and the total cost burden is 
approximately $138,900 per year.
    The retention period for the recordkeeping requirement under Rule 
17a-12 is not less than two years following the date the notice is 
submitted. The recordkeeping requirement under this rule is mandatory 
to assist the Commission in monitoring OTC derivatives dealers. This 
rule does not involve the collection of confidential information.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    The public may view background documentation for this information 
collection at the following website: www.reginfo.gov. Find this 
particular information collection by selecting ``Currently under 30-day 
Review--Open for Public Comments'' or by using the search function. 
Written comments and recommendations for the proposed information 
collection should be sent by November 4, 2024 to (i) www.reginfo.gov/public/do/PRAMain and (ii) Austin Gerig, Director/Chief Data Officer, 
Securities and Exchange Commission, c/o Oluwaseun Ajayi, 100 F Street 
NE, Washington, DC 20549, or by sending an email to: 
[email protected].

    Dated: October 1, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-23004 Filed 10-3-24; 8:45 am]
BILLING CODE 8011-01-P
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