81 FR 68069 - Submission for OMB Review; Comment Request
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 191 (October 3, 2016)
Federal Register Volume 81, Issue 191 (October 3, 2016)
| Page Range | 68069-68069 | |
| FR Document | 2016-23758 |
[Federal Register Volume 81, Number 191 (Monday, October 3, 2016)] [Notices] [Page 68069] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-23758] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; 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: Form Custody SEC File No. 270-643, OMB Control No. 3235-0691 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'') has submitted to the Office of Management and Budget (``OMB'') a request for approval of the extension of the previously approved collection of information provided for in Form Custody (17 CFR 249.639) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange Act''). Section 17(a)(1) of the Exchange Act provides that broker-dealers registered with the Commission must make and keep records, furnish copies of the records, and make and disseminate reports as the Commission, by rule, prescribes. Pursuant to this authority, the Commission adopted Rule 17a-5 (17 CFR 240.17a-5), which is one of the primary financial and operational reporting rules for broker- dealers.\1\ Paragraph (a)(5) of Rule 17a-5 requires every broker-dealer registered with the Commission to file Form Custody (17 CFR 249.639) with its designated examining authority (``DEA'') within 17 business days after the end of each calendar quarter and within 17 business days after the date selected for the broker-dealer's annual report if that date is not the end of a calendar quarter. Form Custody is designed to elicit information about whether a broker-dealer maintains custody of customer and non-customer assets, and, if so, how such assets are maintained. --------------------------------------------------------------------------- \1\ Rule 17a-5 is subject to a separate PRA filing (OMB Control Number 3235-0123). --------------------------------------------------------------------------- There are approximately 4,113 broker-dealers registered with the Commission. Based on staff experience, the Commission estimates that, on average, it would take a broker-dealer approximately 12 hours to complete and file Form Custody, for an annual industry-wide reporting burden of approximately 197,424 hours.\2\ Assuming an average cost per hour of approximately $291for a compliance manager, the total internal cost of compliance for the respondents is approximately $57,450,384 per year.\3\ --------------------------------------------------------------------------- \2\ 4,113 brokers-dealers x 4 times per year x 12 hours = 197,424 hours. \3\ 197,424 hours times $291 per hour = 57,450,384. $291 per hour for a compliance manager is from SIFMA's Management & Professional Earnings in the Securities Industry 2013, modified by Commission staff for an 1800-hour work-year, multiplied by 5.35 to account for bonuses, firm size, employee benefits, and overhead, and adjusted for inflation. --------------------------------------------------------------------------- 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 Web site: www.reginfo.gov. Comments should be directed to (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or by sending an email to: [email protected]; and (ii) Pamela Dyson, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 100 F Street NE., Washington, DC 20549 or by sending an email to: [email protected]. Comments must be submitted within 30 days of this notice. Dated: September 27, 2016. Robert W. Errett, Deputy Secretary. [FR Doc. 2016-23758 Filed 9-30-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 191 / Monday, October 3, 2016 / Notices 68069
compliance of approximately Section 17(a)(1) of the Exchange Act Officer, Securities and Exchange
$6,288,897. provides that broker-dealers registered Commission, c/o Remi Pavlik-Simon,
Written comments are invited on: (a) with the Commission must make and 100 F Street NE., Washington, DC 20549
Whether the proposed collection of keep records, furnish copies of the or by sending an email to: PRA_
information is necessary for the proper records, and make and disseminate Mailbox@sec.gov. Comments must be
performance of the functions of the reports as the Commission, by rule, submitted within 30 days of this notice.
Commission, including whether the prescribes. Pursuant to this authority, Dated: September 27, 2016.
information shall have practical utility; the Commission adopted Rule 17a–5 (17 Robert W. Errett,
(b) the accuracy of the Commission’s CFR 240.17a–5), which is one of the
Deputy Secretary.
estimates of the burden of the proposed primary financial and operational
[FR Doc. 2016–23758 Filed 9–30–16; 8:45 am]
collection of information; (c) ways to reporting rules for broker-dealers.1
BILLING CODE 8011–01–P
enhance the quality, utility, and clarity Paragraph (a)(5) of Rule 17a–5 requires
of the information collected; and (d) every broker-dealer registered with the
ways to minimize the burden of the Commission to file Form Custody (17
SECURITIES AND EXCHANGE
collection of information on CFR 249.639) with its designated
COMMISSION
respondents, including through the use examining authority (‘‘DEA’’) within 17
of automated collection techniques or business days after the end of each [Release No. 34–78946; File No. SR–BOX–
calendar quarter and within 17 business 2016–45]
other forms of information technology.
Consideration will be given to days after the date selected for the
broker-dealer’s annual report if that date Self-Regulatory Organizations; BOX
comments and suggestions submitted in Options Exchange LLC; Notice of
writing within 60 days of this is not the end of a calendar quarter.
Form Custody is designed to elicit Filing of Proposed Rule Change To
publication. Amend the Treatment of Quotes To
information about whether a broker-
An agency may not conduct or Provide That All Quotes on BOX Are
dealer maintains custody of customer
sponsor, and a person is not required to and non-customer assets, and, if so, how Liquidity Adding Only
respond to, a collection of information such assets are maintained.
under the PRA unless it displays a September 27, 2016.
There are approximately 4,113 broker- Pursuant to Section 19(b)(1) of the
currently valid OMB control number. dealers registered with the Commission. Securities Exchange Act of 1934
Please direct your written comments Based on staff experience, the (‘‘Act’’),1 and Rule 19b–4 thereunder,2
to: Pamela Dyson, Director/Chief Commission estimates that, on average, notice is hereby given that on
Information Officer, Securities and it would take a broker-dealer September 13, 2016, BOX Options
Exchange Commission, c/o Remi Pavlik- approximately 12 hours to complete and Exchange LLC (the ‘‘Exchange’’) filed
Simon, 100 F Street NE., Washington, file Form Custody, for an annual with the Securities and Exchange
DC 20549, or send an email to: industry-wide reporting burden of Commission (‘‘Commission’’) the
PRA_Mailbox@sec.gov. approximately 197,424 hours.2 proposed rule change as described in
Dated: September 27, 2016. Assuming an average cost per hour of Items I, II, and III below, which Items
Robert W. Errett, approximately $291for a compliance have been prepared by the self-
Deputy Secretary.
manager, the total internal cost of regulatory organization. The
compliance for the respondents is Commission is publishing this notice to
[FR Doc. 2016–23762 Filed 9–30–16; 8:45 am]
approximately $57,450,384 per year.3 solicit comments on the proposed rule
BILLING CODE 8011–01–P An agency may not conduct or from interested persons.
sponsor, and a person is not required to
respond to, a collection of information I. Self-Regulatory Organization’s
SECURITIES AND EXCHANGE under the PRA unless it displays a Statement of the Terms of Substance of
COMMISSION currently valid OMB control number. the Proposed Rule Change
The public may view background The Exchange proposes to amend
Submission for OMB Review;
documentation for this information Rule 8050 to amend the treatment of
Comment Request
collection at the following Web site: quotes to provide that all quotes on BOX
Upon Written Request, Copies Available www.reginfo.gov. Comments should be are liquidity adding only. The text of the
From: Securities and Exchange directed to (i) Desk Officer for the proposed rule change is available from
Commission, Office of FOIA Services, Securities and Exchange Commission, the principal office of the Exchange, at
100 F Street NE., Washington, DC Office of Information and Regulatory the Commission’s Public Reference
20549–2736. Affairs, Office of Management and Room and also on the Exchange’s
Budget, Room 10102, New Executive Internet Web site at http://
Extension: Form Custody Office Building, Washington, DC 20503
SEC File No. 270–643, OMB Control No. boxexchange.com.
3235–0691
or by sending an email to: Shagufta_
Ahmed@omb.eop.gov; and (ii) Pamela II. Self-Regulatory Organization’s
Notice is hereby given that pursuant Dyson, Director/Chief Information Statement of the Purpose of, and
to the Paperwork Reduction Act of 1995 Statutory Basis for, the Proposed Rule
(44 U.S.C. 3501 et seq.) (‘‘PRA’’), the 1 Rule 17a–5 is subject to a separate PRA filing Change
Securities and Exchange Commission (OMB Control Number 3235–0123).
2 4,113 brokers-dealers × 4 times per year × 12
In its filing with the Commission, the
(‘‘Commission’’) has submitted to the
sradovich on DSK3GMQ082PROD with NOTICES
hours = 197,424 hours. self-regulatory organization included
Office of Management and Budget 3 197,424 hours times $291 per hour = statements concerning the purpose of,
(‘‘OMB’’) a request for approval of the 57,450,384. $291 per hour for a compliance and basis for, the proposed rule change
extension of the previously approved manager is from SIFMA’s Management & and discussed any comments it received
collection of information provided for in Professional Earnings in the Securities Industry
2013, modified by Commission staff for an 1800-
on the proposed rule change. The text
Form Custody (17 CFR 249.639) under hour work-year, multiplied by 5.35 to account for
the Securities Exchange Act of 1934 (15 bonuses, firm size, employee benefits, and 1 15 U.S.C. 78s(b)(1).
U.S.C. 78a et seq.) (‘‘Exchange Act’’). overhead, and adjusted for inflation. 2 17 CFR 240.19b–4.
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Document Created: 2018-02-13 14:11:39
Document Modified: 2018-02-13 14:11:39
| 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 68069 |
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