81 FR 83901 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 225 (November 22, 2016)

[Federal Register Volume 81, Number 225 (Tuesday, November 22, 2016)]
[Notices]
[Page 83901]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-28026]


-----------------------------------------------------------------------

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:
    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 (44 U.S.C. 3501et seq.) (``PRA''), 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 
17f-1(g) (17 CFR 240.17f-1(g)), under the Securities Exchange Act of 
1934 (15 U.S.C. 78a et seq.).
    Rule 17f-1(g) 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.
    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).
    Rule 17f-1(g) does not require periodic collection, but it does 
require retention of records generated as a result of compliance with 
Rule 17f-1. Under Section 17(b) and (f) of the Act, the information 
required by Rule 17f-1(g) is available to the Commission and Federal 
bank regulators for examinations or collection purposes. Rule 0-4 of 
the Securities Exchange Act deems such information to be confidential.
    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: November 16, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-28026 Filed 11-21-16; 8:45 am]
 BILLING CODE 8011-01-P