80 FR 67826 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 212 (November 3, 2015)

[Federal Register Volume 80, Number 212 (Tuesday, November 3, 2015)]
[Notices]
[Pages 67826-67827]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-27906]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

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

Reinstatement: Rule 19h-1;
    SEC File No. 270-247; OMB Control No. 3235-0259.

    Notice by a Self-Regulatory Organization of Proposed Admission to 
or Continuance in Membership or Participation or Association With a 
Member of Any Person Subject to a Statutory Disqualification, and 
Applications to the Commission for Relief Therefrom
    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the proposed 
request for reinstatement, with change, of a previously approved 
collection for which approval has expired--Rule 19h-1, Notice by a 
Self-Regulatory Organization of Proposed Admission to or Continuance in 
Membership or Participation or Association With a Member of Any Person 
Subject to a Statutory Disqualification, and Applications to the 
Commission for Relief Therefrom (17 CFR 240.19h-1). The Commission 
plans to submit this request for reinstatement to the Office of 
Management and Budget (``OMB'') for approval.
    Rule 19h-1 (``Rule'') under the Securities Exchange Act of 1934 
(the ``Exchange Act'') prescribes the form and content of notices and 
applications by self-regulatory organizations (``SROs'') regarding 
proposed admissions to, or continuances in, membership, participation 
or association with a member of any person subject to a statutory 
disqualification.
    The Commission uses the information provided in the submissions 
filed pursuant to Rule 19h-1 to review decisions of SROs to permit the 
entry into or continuance in the securities business of persons who 
have committed serious misconduct. The filings submitted pursuant to 
the Rule also permit inclusion of an application to the Commission for 
consent to associate with a member of an SRO notwithstanding a 
Commission order barring such association.
    The Commission reviews filings made pursuant to the Rule to 
ascertain whether it is in the public interest to permit the employment 
in the securities business of persons subject to a statutory 
disqualification. The filings contain information that is essential to 
the staff's review and ultimate determination on whether an association 
or employment is in the public interest and consistent with investor 
protection. Without these filings, persons subject to a statutory 
disqualification could reenter or continue employment in the securities 
business without the Commission's critical review of their character, 
ability to act as a fiduciary, and their employer's plan of 
supervision. The failure to collect and review this information could 
result in significant harm to the investing public.
    The Commission estimates the annual burden of responding to this 
collection of information is as follows.

                                                                      Burden Hours
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                        19h-1(a)--Notice of
                                            admission or         19h-1(a)(4)--Notification of                                  19h-1(d)--Application to
                                            continuance             proposed admission or          19h-1(b)--Preliminary      the Commission for relief
                                         notwithstanding a        continuance pursuant to an           notifications            from certain statutory
                                             statutory            exception from the  notice                                      disqualifications
                                          disqualification               requirements
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated number of respondents =...  20.....................  20.............................  20.........................  20.
Estimated number of annual responses  11.....................  9..............................  28.........................  5.
 per respondent =.
Estimated annual reporting burden     80.....................  80.............................  13.........................  80.
 per response =.
                                     -------------------------------------------------------------------------------------------------------------------
    Estimated total annual reporting  17,600 (20 respondents   14,400 (20 respondents x 9       7,280 (20 respondents x 28   8,000 (20 respondents x 5
     burden =.                         x 11 annual responses    annual responses per             annual responses per         annual responses per
                                       per respondent x 80      respondent x 80 hours per        respondent x 13 hours per    respondent x 80 hours per
                                       hours per respondent).   respondent).                     respondent).                 respondent).
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    Written comments are invited on: (a) Whether this collection of 
information is necessary for the proper performance of the functions of 
the agency, including whether the information will have practical 
utility; (b) the accuracy of the agency's estimate of the burden 
imposed by the collection of information; (c) ways to enhance the 
quality, utility, and clarity of the information collected; and (d) 
ways to minimize the burden of the collection of information on 
respondents, including through the use of automated collection 
techniques or other forms of information technology.
    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid control number. No 
person shall be subject to any penalty for failing to comply with a 
collection of information subject to the PRA that does not display a 
valid OMB control number.
    Persons submitting comments on the collection of information 
requirements should direct them to Pamela Dyson, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or send an email 
to: [email protected]. Comments should reference SEC File

[[Page 67827]]

No. 270-247. Requests for materials submitted to OMB by the Commission 
with regard to this collection of information should be in writing, 
with reference to SEC File No. 270-247. Comments must be submitted to 
the SEC within 60 days of this notice.

    Dated: October 28, 2015.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-27906 Filed 11-2-15; 8:45 am]
 BILLING CODE 8011-01-P