81 FR 1244 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 6 (January 11, 2016)

Page Range		1244-1244
FR Document		2016-00256
Federal Register, Volume 81 Issue 6 (Monday, January 11, 2016)
[Federal Register Volume 81, Number 6 (Monday, January 11, 2016)]
[Notices]
[Page 1244]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-00256]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-440, OMB Control No. 3235-0496]


Proposed Collection; Comment Request

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

Extension:
    Appendix F to Rule 15c3-1.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the existing 
collection of information provided for in Appendix F to Rule 15c3-1 
(``Appendix F'' or ``Rule 15c3-1f'') (17 CFR 240.15c3-1f) under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). The Commission 
plans to submit this existing collection of information to the Office 
of Management and Budget (``OMB'') for extension and approval.
    Appendix F requires a broker-dealer choosing to register, upon 
Commission approval, as an OTC derivatives dealer to develop and 
maintain an internal risk management system based on Value-at-Risk 
(``VaR'') models. It is anticipated that a total of one (1) broker-
dealer registering as an OTC derivatives dealer will spend 1,000 hours 
on a one-time basis complying with the system development requirements 
of Rule 15c3-1f, for an estimated one-time initial startup burden of 
approximately 1,000 hours. Appendix F also requires the OTC derivatives 
dealer to maintain its system model according to certain prescribed 
standards. It is anticipated that the four (4) OTC derivatives dealers 
currently registered with the Commission will each spend 1,000 hours 
per year maintaining the system model required by Rule 15c3-1f, for an 
estimated recurring annual burden of approximately 4,000 hours. It is 
anticipated that the one (1) broker-dealer registering as an OTC 
derivatives dealer will spend 1,000 hours maintaining the system model 
required by Rule 15c3-1f in each year following its registration. Thus, 
the total industry-wide burden is estimated to be approximately 5,000 
hours (4,000 hours + 1,000 hours) for the first year and 5,000 hours 
for each subsequent year.\1\
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    \1\ The Commission estimates that a total of five entities will 
be registered as OTC derivatives dealers at the end of the next 
three years, consisting of the four current OTC derivatives dealers 
and one anticipated registrant. This is in contrast with the prior 
estimate of eight OTC derivatives dealers, consisting of four 
current OTC derivatives dealers and four anticipated registrants.
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    The records required to be kept pursuant to Appendix F and results 
of periodic reviews conducted pursuant to Rule 15c3-4 generally must be 
preserved under Rule 17a-4 of the Exchange Act (17 CFR 240.17a-4) for a 
period of not less than three years, the first two years in an easily 
accessible place. The Commission will not generally publish or make 
available to any person notices or reports received pursuant to the 
Rule. The statutory basis for the Commission's refusal to disclose such 
information to the public is the exemption contained in Section (b)(4) 
of the Freedom of Information Act (5 U.S.C. 552), which essentially 
provides that the requirement of public dissemination does not apply to 
commercial or financial information which is privileged or 
confidential.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates of the burden of the proposed 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. 
Consideration will be given to comments and suggestions submitted in 
writing within 60 days of this publication.
    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.
    Please direct your written comments 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].

    Dated: January 5, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-00256 Filed 1-8-16; 8:45 am]
BILLING CODE 8011-01-P
1244 Federal Register / Vol. 81, No. 6 / Monday, January 11, 2016 / Notices

with respect to the proposed rule Appendix F requires a broker-dealer (b) the accuracy of the Commission’s
change that are filed with the choosing to register, upon Commission estimates of the burden of the proposed
Commission, and all written approval, as an OTC derivatives dealer collection of information; (c) ways to
communications relating to the to develop and maintain an internal risk enhance the quality, utility, and clarity
proposed rule change between the management system based on Value-at- of the information collected; and (d)
Commission and any person, other than Risk (‘‘VaR’’) models. It is anticipated ways to minimize the burden of the
those that may be withheld from the that a total of one (1) broker-dealer collection of information on
public in accordance with the registering as an OTC derivatives dealer respondents, including through the use
provisions of 5 U.S.C. 552, will be will spend 1,000 hours on a one-time of automated collection techniques or
available for Web site viewing and basis complying with the system other forms of information technology.
printing in the Commission’s Public development requirements of Rule Consideration will be given to
Reference Room, 100 F Street NE., 15c3–1f, for an estimated one-time comments and suggestions submitted in
Washington, DC 20549 on official initial startup burden of approximately writing within 60 days of this
business days between the hours of 1,000 hours. Appendix F also requires publication.
10:00 a.m. and 3:00 p.m. Copies of such the OTC derivatives dealer to maintain An agency may not conduct or
filing also will be available for its system model according to certain sponsor, and a person is not required to
inspection and copying at the principal prescribed standards. It is anticipated respond to, a collection of information
office of the Exchange. All comments that the four (4) OTC derivatives dealers under the PRA unless it displays a
received will be posted without change; currently registered with the currently valid OMB control number.
the Commission does not edit personal Commission will each spend 1,000 Please direct your written comments
identifying information from hours per year maintaining the system to: Pamela Dyson, Director/Chief
submissions. You should submit only model required by Rule 15c3–1f, for an Information Officer, Securities and
information that you wish to make estimated recurring annual burden of Exchange Commission, c/o Remi Pavlik-
available publicly. All submissions approximately 4,000 hours. It is Simon, 100 F Street NE., Washington,
should refer to File No. SR–NASDAQ– anticipated that the one (1) broker- DC 20549 or send an email to:
2015–159, and should be submitted on dealer registering as an OTC derivatives PRA_Mailbox@sec.gov.
or before February 1, 2016. dealer will spend 1,000 hours
Dated: January 5, 2016.
For the Commission, by the Division of
maintaining the system model required
Robert W. Errett,
Trading and Markets, pursuant to delegated by Rule 15c3–1f in each year following
its registration. Thus, the total industry- Deputy Secretary.
authority.24
wide burden is estimated to be [FR Doc. 2016–00256 Filed 1–8–16; 8:45 am]
Robert W. Errett,
Deputy Secretary. approximately 5,000 hours (4,000 hours BILLING CODE 8011–01–P
+ 1,000 hours) for the first year and
[FR Doc. 2016–00249 Filed 1–8–16; 8:45 am]
5,000 hours for each subsequent year.1
BILLING CODE 8011–01–P
The records required to be kept SECURITIES AND EXCHANGE
pursuant to Appendix F and results of COMMISSION
SECURITIES AND EXCHANGE periodic reviews conducted pursuant to [Investment Company Act Release No.
COMMISSION Rule 15c3–4 generally must be 31952; File No. 812–14519]
preserved under Rule 17a–4 of the
[SEC File No. 270–440, OMB Control No. Exchange Act (17 CFR 240.17a–4) for a Northern Lights Fund Trust, et al.;
3235–0496] period of not less than three years, the Notice of Application
first two years in an easily accessible
Proposed Collection; Comment January 4, 2016.
place. The Commission will not
Request AGENCY: Securities and Exchange
generally publish or make available to
any person notices or reports received Commission (‘‘Commission’’).
Upon Written Request, Copies Available
From: Securities and Exchange pursuant to the Rule. The statutory basis ACTION: Notice of an application for an
Commission, Office of FOIA Services, for the Commission’s refusal to disclose order under section 12(d)(1)(J) of the
100 F Street NE., Washington, DC such information to the public is the Investment Company Act of 1940 (the
20549–2736. exemption contained in Section (b)(4) of ‘‘Act’’) for an exemption from sections
the Freedom of Information Act (5 12(d)(1)(A), (B), and (C) of the Act and
Extension:
Appendix F to Rule 15c3–1. U.S.C. 552), which essentially provides under sections 6(c) and 17(b) of the Act
that the requirement of public for an exemption from sections 17(a)(1)
Notice is hereby given that pursuant and (2) of the Act. The requested order
dissemination does not apply to
to the Paperwork Reduction Act of 1995 would permit certain registered open-
commercial or financial information
(44 U.S.C. 3501 et seq.) (‘‘PRA’’), the end investment companies to acquire
which is privileged or confidential.
Securities and Exchange Commission Written comments are invited on: (a) shares of certain registered open-end
(‘‘Commission’’) is soliciting comments Whether the proposed collection of investment companies, registered
on the existing collection of information information is necessary for the proper closed-end investment companies,
provided for in Appendix F to Rule performance of the functions of the business development companies, as
15c3–1 (‘‘Appendix F’’ or ‘‘Rule 15c3– Commission, including whether the defined in section 2(a)(48) of the Act,
1f’’) (17 CFR 240.15c3–1f) under the information shall have practical utility; and unit investment trusts (collectively,
Securities Exchange Act of 1934 (15
ebenthall on DSK6SPTVN1PROD with NOTICES

‘‘Underlying Funds’’) that are within
U.S.C. 78a et seq.). The Commission 1 The Commission estimates that a total of five and outside the same group of
plans to submit this existing collection entities will be registered as OTC derivatives investment companies as the acquiring
of information to the Office of dealers at the end of the next three years, consisting investment companies, in excess of the
Management and Budget (‘‘OMB’’) for of the four current OTC derivatives dealers and one
anticipated registrant. This is in contrast with the limits in section 12(d)(1) of the Act.
extension and approval. prior estimate of eight OTC derivatives dealers,
consisting of four current OTC derivatives dealers Applicants: Northern Lights Fund
24 17 CFR 200.30–3(a)(12). and four anticipated registrants. Trust (the ‘‘Trust’’), a Delaware statutory

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Document Created: 2016-01-16 01:05:10
Document Modified: 2016-01-16 01:05:10
Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		81 FR 1244