81 FR 63236 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 178 (September 14, 2016)

Page Range		63236-63237
FR Document		2016-22037

Federal Register, Volume 81 Issue 178 (Wednesday, September 14, 2016)

[Federal Register Volume 81, Number 178 (Wednesday, September 14, 2016)]
[Notices]
[Pages 63236-63237]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-22037]


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SECURITIES AND EXCHANGE COMMISSION


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:
    Rule 17f-1(g), SEC File No. 270-30, OMB Control No. 3235-0290.

    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'') is soliciting comments on the existing 
collection of information provided for in Rule 17f-1(g) (17 CFR 
240.17f-1(g)), 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.
    Paragraph (g) of Rule 17f-1 requires that all reporting 
institutions (i.e., every national securities exchange, member thereof, 
registered securities association, broker, dealer, municipal securities 
dealer, registered transfer agent, registered clearing agency, 
participant therein, member of the Federal Reserve System and bank 
insured by the FDIC) maintain and preserve a number of documents 
related to their participation in the Lost and Stolen Securities 
Program (``Program'') under Rule 17f-1. The following documents must be 
kept in an easily accessible place for three years, according to 
paragraph (g): (1) Copies of all reports of theft or loss (Form X-17F-
1A) filed with the Commission's designee: (2) all agreements between 
reporting institutions regarding registration in the Program or other 
aspects of Rule 17f-1; and (3) all confirmations or other information 
received from the Commission or its designee as a result of inquiry.
    Reporting institutions utilize these records and reports (a) to 
report missing, lost, stolen or counterfeit securities to the database, 
(b) to confirm inquiry of the database, and (c) to demonstrate 
compliance with Rule 17f-1. The Commission and the reporting 
institutions' examining authorities utilize these records to monitor 
the incidence of thefts and losses incurred by reporting institutions 
and to determine compliance with Rule 17f-1. If such records were not 
retained by reporting institutions, compliance with Rule 17f-1 could 
not be monitored effectively.

[[Page 63237]]

    The Commission estimates that there are approximately 12,971 
reporting institutions (respondents) and, on average, each respondent 
would need to retain 33 records annually, with each retention requiring 
approximately 1 minute (a total of 33 minutes or 0.55 hours per 
respondent per year). Thus, the total estimated annual time burden for 
all respondents is 7,134 hours (12,971 x 0.55 hours = 7,134). Assuming 
an average hourly cost for clerical work of $50.00, the average total 
yearly record retention cost of compliance for each respondent would be 
$27.50 ($50 x 0.55 hours). Based on these estimates, the total annual 
compliance cost for the estimated 12,971 reporting institutions would 
be approximately $356,702 (12,971 x $27.50).
    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 to 
be 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: September 8, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-22037 Filed 9-13-16; 8:45 am]
 BILLING CODE 8011-01-P

63236 Federal Register / Vol. 81, No. 178 / Wednesday, September 14, 2016 / Notices

allocation of reasonable dues, fees and Comments may be submitted by any of SECURITIES AND EXCHANGE
other charges among its Members and the following methods: COMMISSION
other persons using its facilities. The
Exchange believes that its rates will Electronic Comments Proposed Collection; Comment
continue to represent an equitable Request
• Use the Commission’s Internet
allocation of reasonable dues, fees, and comment form (http://www.sec.gov/ Upon Written Request, Copies Available
other charges among Members and other rules/sro.shtml); or From: Securities and Exchange
persons using its facilities and the Commission, Office of FOIA Services,
proposed change will not in any way • Send an email to rule-comments@
sec.gov. Please include File Number SR– 100 F Street NE., Washington, DC
modify such rates. Rather, as described 20549–2736.
above, the proposed change is simply BatsEDGX–2016–52 on the subject line.
designed to remove fee code ZA from Extension:
Paper Comments Rule 17f–1(g), SEC File No. 270–30, OMB
footnote 1, which further increases the Control No. 3235–0290.
clarity of the fee schedule. Lastly, the • Send paper comments in triplicate
Exchange also believes that the Notice is hereby given that pursuant
to Secretary, Securities and Exchange
proposed amendment is non- to the Paperwork Reduction Act of 1995
Commission, 100 F Street NE.,
discriminatory because it applies (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Washington, DC 20549–1090. Securities and Exchange Commission
uniformly to all Members.
All submissions should refer to File (‘‘Commission’’) is soliciting comments
B. Self-Regulatory Organization’s Number SR–BatsEDGX–2016–52. This on the existing collection of information
Statement on Burden on Competition file number should be included on the provided for in Rule 17f–1(g) (17 CFR
This proposed rule change does not subject line if email is used. To help the 240.17f–1(g)), under the Securities
impose any burden on competition that Commission process and review your Exchange Act of 1934 (15 U.S.C. 78a et
is not necessary or appropriate in comments more efficiently, please use seq.). The Commission plans to submit
furtherance of the purposes of the Act. only one method. The Commission will this existing collection of information to
the Office of Management and Budget
The Exchange does not believe the post all comments on the Commission’s
(‘‘OMB’’) for extension and approval.
proposed rule change will impose any Internet Web site (http://www.sec.gov/ Paragraph (g) of Rule 17f–1 requires
burden on competition as it is simply rules/sro.shtml). Copies of the that all reporting institutions (i.e., every
designed to clarify the fee schedule to submission, all subsequent national securities exchange, member
reflect the higher rebate that qualifying amendments, all written statements thereof, registered securities association,
orders are already receiving. with respect to the proposed rule broker, dealer, municipal securities
C. Self-Regulatory Organization’s change that are filed with the dealer, registered transfer agent,
Statement on Comments on the Commission, and all written registered clearing agency, participant
Proposed Rule Change Received From communications relating to the therein, member of the Federal Reserve
Members, Participants, or Others proposed rule change between the System and bank insured by the FDIC)
Commission and any person, other than maintain and preserve a number of
The Exchange has not solicited, and those that may be withheld from the documents related to their participation
does not intend to solicit, comments on public in accordance with the in the Lost and Stolen Securities
this proposed rule change. The Program (‘‘Program’’) under Rule 17f–1.
provisions of 5 U.S.C. 552, will be
Exchange has not received any The following documents must be kept
available for Web site viewing and
unsolicited written comments from in an easily accessible place for three
Members or other interested parties. printing in the Commission’s Public
Reference Room, 100 F Street NE., years, according to paragraph (g): (1)
III. Date of Effectiveness of the Washington, DC 20549, on official Copies of all reports of theft or loss
Proposed Rule Change and Timing for business days between the hours of (Form X–17F–1A) filed with the
Commission Action Commission’s designee: (2) all
10:00 a.m. and 3:00 p.m. Copies of the
agreements between reporting
The foregoing rule change has become filing also will be available for
institutions regarding registration in the
effective pursuant to Section 19(b)(3)(A) inspection and copying at the principal
Program or other aspects of Rule 17f–1;
of the Act 8 and paragraph (f) of Rule office of the Exchange. All comments and (3) all confirmations or other
19b–4 thereunder.9 At any time within received will be posted without change; information received from the
60 days of the filing of the proposed rule the Commission does not edit personal Commission or its designee as a result
change, the Commission summarily may identifying information from of inquiry.
temporarily suspend such rule change if submissions. You should submit only Reporting institutions utilize these
it appears to the Commission that such information that you wish to make records and reports (a) to report missing,
action is necessary or appropriate in the available publicly. All submissions lost, stolen or counterfeit securities to
public interest, for the protection of should refer to File Number SR– the database, (b) to confirm inquiry of
investors, or otherwise in furtherance of BatsEDGX–2016–52, and should be the database, and (c) to demonstrate
the purposes of the Act. submitted on or before October 5, 2016. compliance with Rule 17f–1. The
For the Commission, by the Division of Commission and the reporting
IV. Solicitation of Comments
institutions’ examining authorities
asabaliauskas on DSK3SPTVN1PROD with NOTICES

Trading and Markets, pursuant to delegated
Interested persons are invited to authority.10 utilize these records to monitor the
submit written data, views, and Brent J. Fields,
incidence of thefts and losses incurred
arguments concerning the foregoing, by reporting institutions and to
including whether the proposed rule Secretary. determine compliance with Rule 17f–1.
change is consistent with the Act. [FR Doc. 2016–22030 Filed 9–13–16; 8:45 am] If such records were not retained by
BILLING CODE 8011–01–P reporting institutions, compliance with
8 15 U.S.C. 78s(b)(3)(A). Rule 17f–1 could not be monitored
9 17 CFR 240.19b–4(f). 10 17 CFR 200.30–3(a)(12). effectively.

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Federal Register / Vol. 81, No. 178 / Wednesday, September 14, 2016 / Notices 63237

The Commission estimates that there 100 F Street NE., Washington, DC Exchange Act. Compliance with Rule
are approximately 12,971 reporting 20549–2736. 15c3–5 is mandatory.
institutions (respondents) and, on Extension: Respondents consist of broker-dealers
average, each respondent would need to Rule 15c3–5, SEC File No. 270–601, OMB with access to trading directly on an
retain 33 records annually, with each Control No. 3235–0673. exchange or ATS. The Commission
retention requiring approximately 1
Notice is hereby given that, pursuant estimates that there are currently 640
minute (a total of 33 minutes or 0.55
to the Paperwork Reduction Act of 1995 respondents. To comply with Rule
hours per respondent per year). Thus,
the total estimated annual time burden (44 U.S.C. 3501 et seq.) (‘‘PRA’’), the 15c3–5, these respondents will spend a
for all respondents is 7,134 hours Securities and Exchange Commission total of approximately 102,400 hours
(12,971 × 0.55 hours = 7,134). Assuming (‘‘Commission’’) is soliciting comments per year (160 hours per broker-dealer ×
an average hourly cost for clerical work on the existing collection of information 640 broker-dealers = 102,400 hours). At
of $50.00, the average total yearly record provided for in Rule 15c3–5 (17 CFR an average internal cost per burden hour
retention cost of compliance for each 240.15c3–5) under the Securities of approximately $339.09, the resultant
respondent would be $27.50 ($50 × 0.55 Exchange Act of 1934 (15 U.S.C. 78a et total related internal cost of compliance
hours). Based on these estimates, the seq.) (‘‘Exchange Act’’). The for these respondents is $34,722,560 per
total annual compliance cost for the Commission plans to submit this year (102,400 burden hours multiplied
estimated 12,971 reporting institutions existing collection of information to the by approximately $339.09/hour). In
would be approximately $356,702 Office of Management and Budget addition, for hardware and software
(12,971 × $27.50). (‘‘OMB’’) for extension and approval. expenses, the Commission estimates
Written comments are invited on: (a) Rule 15c3–5 under the Exchange Act that the average annual external cost
Whether the proposed collection of requires brokers or dealers with access would be approximately $20,500 per
information is necessary for the proper to trading directly on an exchange or broker-dealer, or $13,120,000 in the
performance of the functions of the alternative trading system (‘‘ATS’’), aggregate ($20,500 per broker-dealer ×
Commission, including whether the including those providing sponsored or 640 brokers and dealers = $13,120,000).
information shall have practical utility; direct market access to customers or
other persons, to implement risk Written comments are invited on (a)
(b) the accuracy of the Commission’s
management controls and supervisory whether the proposed collection of
estimates of the burden of the proposed
procedures reasonably designed to information is necessary for the proper
collection of information; (c) ways to
enhance the quality, utility, and clarity manage the financial, regulatory, and performance of the functions of the
of the information to be collected; and other risks of this business activity. Commission, including whether the
(d) ways to minimize the burden of the The rule requires brokers or dealers to information shall have practical utility;
collection of information on establish, document, and maintain (b) the accuracy of the Commission’s
respondents, including through the use certain risk management controls and estimates of the burden of the proposed
of automated collection techniques or supervisory procedures as well as collection of information; (c) ways to
other forms of information technology. regularly review such controls and enhance the quality, utility, and clarity
Consideration will be given to procedures, and document the review, of the information collected; and (d)
comments and suggestions submitted in and remediate issues discovered to ways to minimize the burden of the
writing within 60 days of this assure overall effectiveness of such collection of information on
publication. controls and procedures. Each such respondents, including through the use
An agency may not conduct or broker or dealer is required to preserve of automated collection techniques or
sponsor, and a person is not required to a copy of its supervisory procedures and other forms of information technology.
respond to, a collection of information a written description of its risk Consideration will be given to
under the PRA unless it displays a management controls as part of its books comments and suggestions submitted in
currently valid OMB control number. and records in a manner consistent with writing within 60 days of this
Please direct your written comments Rule 17a–4(e)(7) under the Exchange publication.
to: Pamela Dyson, Director/Chief Act. Such regular review is required to
be conducted in accordance with An agency may not conduct or
Information Officer, Securities and sponsor, and a person is not required to
Exchange Commission, c/o Remi Pavlik- written procedures and is required to be
documented. The broker or dealer is respond to, a collection of information
Simon, 100 F Street NE., Washington,
required to preserve a copy of such under the PRA unless it displays a
DC 20549 or send an email to: PRA_
written procedures, and documentation currently valid OMB control number.
Mailbox@sec.gov.
of each such review, as part of its books Please direct your written comments
Dated: September 8, 2016.
and records in a manner consistent with to: Pamela Dyson, Director/Chief
Brent J. Fields,
Rule 17a–4(e)(7) under the Exchange Information Officer, Securities and
Secretary. Act, and Rule 17a–4(b) under the Exchange Commission, c/o Remi Pavlik-
[FR Doc. 2016–22037 Filed 9–13–16; 8:45 am] Exchange Act, respectively. Simon, 100 F Street NE., Washington,
BILLING CODE 8011–01–P In addition, the Chief Executive DC 20549, or send an email to: PRA_
Officer (or equivalent officer) is required Mailbox@sec.gov.
to certify annually that the broker or
asabaliauskas on DSK3SPTVN1PROD with NOTICES

SECURITIES AND EXCHANGE Dated: September 8, 2016.
dealer’s risk management controls and
COMMISSION Brent J. Fields,
supervisory procedures comply with the
rule, and that the broker-dealer Secretary.
Proposed Collection; Comment
Request conducted such review. Such [FR Doc. 2016–22038 Filed 9–13–16; 8:45 am]
certifications are required to be BILLING CODE 8011–01–P
Upon Written Request, Copies Available preserved by the broker or dealer as part
From: Securities and Exchange of its books and records in a manner
Commission, Office of FOIA Services, consistent with Rule 17a–4(b) under the

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Document Created: 2016-09-14 02:27:07
Document Modified: 2016-09-14 02:27:07

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 63236