82 FR 10833 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 30 (February 15, 2017)

Page Range		10833-10833
FR Document		2017-02975

Federal Register, Volume 82 Issue 30 (Wednesday, February 15, 2017)

[Federal Register Volume 82, Number 30 (Wednesday, February 15, 2017)]
[Notices]
[Page 10833]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-02975]


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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 BD-N/Rule 15b11-1; SEC File No. 270-498, OMB Control No. 
3235-0556.

    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'') 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 
15b11-1 (17 CFR 240.15b11-1) under the Securities Exchange Act of 1934 
(``Exchange Act'') (15 U.S.C. 78a et seq.) and Form BD-N (17 CFR 
249.501b).
    Rule 15b11-1 provides that a broker or dealer may register by 
notice pursuant to section 15(b)(11)(A) of the Exchange Act (15 U.S.C. 
78o(b)(11)(A)) if it: (1) Is registered with the Commodity Futures 
Trading Commission as a futures commission merchant or an introducing 
broker, as those terms are defined in the Commodity Exchange Act (7 
U.S.C. 1, et seq.); (2) is a member of the National Futures Association 
or another national securities association registered under section 
15A(k) of the Exchange Act (15 U.S.C. 78o-3(k)); and (3) is not 
required to register as a broker or dealer in connection with 
transactions in securities other than security futures products. The 
rule also requires a broker or dealer registering by notice to do so by 
filing Form BD-N in accordance with the instructions to the form. In 
addition, the rule provides that if the information provided by filing 
the form is or becomes inaccurate for any reason, the broker or dealer 
shall promptly file an amendment on the form correcting such 
information.
    The Commission staff estimates that the total annual reporting 
burden associated with Rule 15b11-1 and Form BD-N is approximately 
three hours, based on an average of two initial notice registrations 
per year that each take approximately 30 minutes to complete, for one 
hour, plus an average of nine amendments per year that each take 
approximately fifteen minutes to complete, for 2.25 hours, rounded down 
to two hours, for a total of three hours.
    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 to OMB within 
30 days of this notice.

    Dated: February 8, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-02975 Filed 2-14-17; 8:45 am]
BILLING CODE 8011-01-P

Federal Register / Vol. 82, No. 30 / Wednesday, February 15, 2017 / Notices 10833

applicant will spend an average of 154 the costs of Commission rules. if it: (1) Is registered with the
hours to comply with the Commission’s Complying with these collections of Commodity Futures Trading
applications process. The Commission information requirement is necessary to Commission as a futures commission
staff therefore estimates the annual obtain the benefit of relying on rule merchant or an introducing broker, as
burden hours per year for all funds 17d–1. Responses will not be kept those terms are defined in the
under rule 17d–1’s application process confidential. An agency may not Commodity Exchange Act (7 U.S.C. 1, et
to be 2772 hours at a cost of conduct or sponsor, and a person is not seq.); (2) is a member of the National
$1,113,228.1 The Commission, required to respond to, a collection of Futures Association or another national
therefore, requests authorization to information unless it displays a securities association registered under
increase the inventory of total burden currently valid control number. section 15A(k) of the Exchange Act (15
hours per year for all funds under rule The public may view the background U.S.C. 78o–3(k)); and (3) is not required
17d–1 from the current authorized documentation for this information to register as a broker or dealer in
burden of 2002 hours to 2772 hours. collection at the following Web site, connection with transactions in
The increase is due to an increase in the www.reginfo.gov. Comments should be securities other than security futures
number of funds that filed applications directed to: (i) Desk Officer for the products. The rule also requires a broker
for exemptions under rule 17d–1. Securities and Exchange Commission, or dealer registering by notice to do so
As noted above, the Commission staff Office of Information and Regulatory by filing Form BD–N in accordance with
understands that funds that file an Affairs, Office of Management and the instructions to the form. In addition,
application under rule 17d–1 generally Budget, Room 10102, New Executive the rule provides that if the information
use outside counsel to assist in Office Building, Washington, DC 20503, provided by filing the form is or
preparing the application. The staff or by sending an email to: Shagufta_ becomes inaccurate for any reason, the
estimates that, on average, funds spend Ahmed@omb.eop.gov; and (ii) Pamela broker or dealer shall promptly file an
an additional $93,131 for outside legal Dyson, Director/Chief Information amendment on the form correcting such
services in connection with seeking Officer, Securities and Exchange information.
Commission approval of affiliated joint Commission, c/o Remi Pavlik-Simon,
transactions. Thus, the staff estimates 100 F Street NE., Washington, DC 20549 The Commission staff estimates that
that the total annual cost burden or send an email to: PRA_Mailbox@ the total annual reporting burden
imposed by the exemptive application sec.gov. Comments must be submitted to associated with Rule 15b11–1 and Form
requirements of rule 17d–1 is OMB within 30 days of this notice. BD–N is approximately three hours,
$1,676,35.2 based on an average of two initial notice
We estimate that funds currently do Dated: February 8, 2017. registrations per year that each take
not rely on the exemption from the term Eduardo A. Aleman, approximately 30 minutes to complete,
‘‘financial interest’’ with respect to any Assistant Secretary. for one hour, plus an average of nine
interest that the fund’s board of [FR Doc. 2017–02976 Filed 2–14–17; 8:45 am] amendments per year that each take
directors (including a majority of the BILLING CODE 8011–01–P approximately fifteen minutes to
directors who are not interested persons complete, for 2.25 hours, rounded down
of the fund) finds to be not material. to two hours, for a total of three hours.
Accordingly, we estimate that annually SECURITIES AND EXCHANGE An agency may not conduct or
there will be no transactions under rule COMMISSION sponsor, and a person is not required to
17d–1 that will result in this aspect of respond to, a collection of information
the collection of information. Submission for OMB Review;
Comment Request under the PRA unless it displays a
Based on these calculations, the total currently valid OMB control number.
annual hour burden is estimated to be Upon Written Request, Copies Available
2772 hours and the total annual cost The public may view background
From: Securities and Exchange documentation for this information
burden is estimated to be $1,676,358. Commission, Office of FOIA Services,
The estimate of average burden hours collection at the following Web site:
100 F Street NE., Washington, DC www.reginfo.gov. Comments should be
is made solely for the purposes of the
20549–2736. directed to: (i) Desk Officer for the
Paperwork Reduction Act. The estimate
is not derived from a comprehensive or Extension: Securities and Exchange Commission,
even a representative survey or study of Form BD–N/Rule 15b11–1; SEC File No. Office of Information and Regulatory
270–498, OMB Control No. 3235–0556. Affairs, Office of Management and
1 The Commission staff estimates that a senior Notice is hereby given that, pursuant Budget, Room 10102, New Executive
executive, such as the fund’s chief compliance to the Paperwork Reduction Act of 1995 Office Building, Washington, DC 20503,
officer, will spend an average of 62 hours and a or by sending an email to: Shagufta_
mid-level compliance attorney will spend an
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
average of 92 hours to comply with this collection Securities and Exchange Commission Ahmed@omb.eop.gov; and (ii) Pamela
of information: 62 hours + 92 hours = 154 hours. (‘‘Commission’’) has submitted to the Dyson, Director/Chief Information
18 funds × 154 burden hours = 2772 burden hours. Office of Management and Budget Officer, Securities and Exchange
The Commission staff estimate that the chief Commission, c/o Remi Pavlik-Simon,
compliance officer is paid $493 per hour and the
(‘‘OMB’’) a request for approval of
compliance attorney is paid $340 per hour. ($493 extension of the previously approved 100 F Street NE., Washington, DC
per hour × 62 hours) + ($340 per hour × 92 hours) collection of information provided for in 20549, or by sending an email to: PRA_
= $61,846 per fund. $61,846 × 18 funds = Rule 15b11–1 (17 CFR 240.15b11–1) Mailbox@sec.gov. Comments must be
$1,113,228. The $493 and $340 per hour figures are submitted to OMB within 30 days of
under the Securities Exchange Act of
mstockstill on DSK3G9T082PROD with NOTICES

based on salary information compiled by SIFMA’s
Management & Professional Earnings in the 1934 (‘‘Exchange Act’’) (15 U.S.C. 78a et this notice.
Securities Industry, 2013. The Commission staff has seq.) and Form BD–N (17 CFR Dated: February 8, 2017.
modified SIFMA’s information to account for an 249.501b).
1800-hour work year and inflation, and multiplied Eduardo A. Aleman,
Rule 15b11–1 provides that a broker
by 5.35 to account for bonuses, firm size, employee Assistant Secretary.
benefits, and overhead. or dealer may register by notice
2 The estimate is based on the following pursuant to section 15(b)(11)(A) of the [FR Doc. 2017–02975 Filed 2–14–17; 8:45 am]
calculation: $93,131 × 18 funds = $1,676,358. Exchange Act (15 U.S.C. 78o(b)(11)(A)) BILLING CODE 8011–01–P

VerDate Sep<11>2014 18:44 Feb 14, 2017 Jkt 241001 PO 00000 Frm 00100 Fmt 4703 Sfmt 9990 E:\FR\FM\15FEN1.SGM 15FEN1

Document Created: 2017-02-15 00:54:50
Document Modified: 2017-02-15 00:54:50

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		82 FR 10833