83 FR 35305 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 143 (July 25, 2018)

Page Range		35305-35305
FR Document		2018-15856

Federal Register, Volume 83 Issue 143 (Wednesday, July 25, 2018)

[Federal Register Volume 83, Number 143 (Wednesday, July 25, 2018)]
[Notices]
[Page 35305]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-15856]


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

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:
    Interagency Statement on Sound Practices, SEC File No. 270-560, 
OMB Control No. 3235-0622

    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 the 
Interagency Statement on Sound Practices Concerning Elevated Risk 
Complex Structured Finance Activities (``Statement'') under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange 
Act'') and the Investment Advisers Act of 1940 (15 U.S.C. 80b et seq.) 
(``Advisers Act'').
    The Statement was issued by the Commission, together with the 
Office of the Comptroller of the Currency, the Board of Governors of 
the Federal Reserve System, the Federal Deposit Insurance Corporation, 
and the Office of Thrift Supervision (together, the ``Agencies''), in 
May 2006. The Statement describes the types of internal controls and 
risk management procedures that the Agencies believe are particularly 
effective in assisting financial institutions to identify and address 
the reputational, legal, and other risks associated with elevated risk 
complex structured finance transactions.
    The primary purpose of the Statement is to ensure that these 
transactions receive enhanced scrutiny by the institution and to ensure 
that the institution does not participate in illegal or inappropriate 
transactions.
    The Commission estimates that approximately 5 registered broker-
dealers or investment advisers will spend an average of approximately 
25 hours per year complying with the Statement. Thus, the total 
compliance burden is estimated to be approximately 125 burden-hours per 
year.
    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 website, 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 Candace 
Kenner 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: July 19, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-15856 Filed 7-24-18; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 143 / Wednesday, July 25, 2018 / Notices 35305

subadvisory agreements each year.10 Dated: July 19, 2018. burden is estimated to be approximately
Based on discussions with industry Eduardo A. Aleman, 125 burden-hours per year.
representatives, the staff estimates that Assistant Secretary. An agency may not conduct or
it will require approximately 3 attorney [FR Doc. 2018–15853 Filed 7–24–18; 8:45 am] sponsor, and a person is not required to
hours to draft and execute additional BILLING CODE 8011–01–P
respond to, a collection of information
clauses in new subadvisory contracts in under the PRA unless it displays a
order for funds and subadvisers to be currently valid OMB control number.
able to rely on the exemptions in rule SECURITIES AND EXCHANGE The public may view background
10f–3. Because these additional clauses COMMISSION documentation for this information
are identical to the clauses that a fund collection at the following website,
would need to insert in their Submission for OMB Review; www.reginfo.gov. Comments should be
subadvisory contracts to rely on rules Comment Request directed to: (i) Desk Officer for the
12d3–1, 17a–10, and 17e–1, and because Securities and Exchange Commission,
Upon Written Request, Copies Available Office of Information and Regulatory
we believe that funds that use one such From: Securities and Exchange
rule generally use all of these rules, we Affairs, Office of Management and
Commission, Office of FOIA Services, Budget, Room 10102, New Executive
apportion this 3 hour time burden 100 F Street NE, Washington, DC
equally to all four rules. Therefore, we Office Building, Washington, DC 20503,
20549–2736 or by sending an email to: Shagufta_
estimate that the burden allocated to
Extension: Ahmed@omb.eop.gov; and (ii) Pamela
rule 10f–3 for this contract change Interagency Statement on Sound Practices,
would be 0.75 hours.11 Assuming that Dyson, Director/Chief Information
SEC File No. 270–560, OMB Control No. Officer, Securities and Exchange
all 299 funds that enter into new 3235–0622
subadvisory contracts each year make Commission, c/o Candace Kenner 100 F
the modification to their contract Notice is hereby given that pursuant Street NE Washington, DC 20549, or by
to the Paperwork Reduction Act of 1995 sending an email to: PRA_Mailbox@
required by the rule, we estimate that
(‘‘PRA’’) (44 U.S.C. 3501 et seq.) the sec.gov. Comments must be submitted to
the rule’s contract modification
Securities and Exchange Commission OMB within 30 days of this notice.
requirement will result in 224 burden
(‘‘Commission’’) has submitted to the Dated: July 19, 2018.
hours annually.12
Office of Management and Budget Eduardo A. Aleman,
The staff estimates, therefore, that rule (‘‘OMB’’) a request for approval of
10f–3 imposes an information collection Assistant Secretary.
extension of the previously approved
burden of 4,080 hours.13 [FR Doc. 2018–15856 Filed 7–24–18; 8:45 am]
collection of information provided for in
BILLING CODE 8011–01–P
Written comments are invited on: (a) the Interagency Statement on Sound
Whether the collections of information Practices Concerning Elevated Risk
are necessary for the proper Complex Structured Finance Activities
SECURITIES AND EXCHANGE
performance of the functions of the (‘‘Statement’’) under the Securities
COMMISSION
Commission, including whether the Exchange Act of 1934 (15 U.S.C. 78a et
information has practical utility; (b) the seq.) (‘‘Exchange Act’’) and the [Release No. 34–83672; File No. SR–CBOE–
accuracy of the Commission’s estimate Investment Advisers Act of 1940 (15 2018–052]
of the burdens of the collections of U.S.C. 80b et seq.) (‘‘Advisers Act’’).
The Statement was issued by the Self-Regulatory Organizations; Cboe
information; (c) ways to enhance the
Commission, together with the Office of Exchange, Inc.; Notice of Filing and
quality, utility, and clarity of the
the Comptroller of the Currency, the Immediate Effectiveness of a Proposed
information collected; and (d) ways to
Board of Governors of the Federal Rule Change To Extend the Credit
minimize the burdens of the collections
Reserve System, the Federal Deposit Option Margin Pilot Program Through
of information on respondents,
Insurance Corporation, and the Office of July 18, 2019
including through the use of automated
collection techniques or other forms of Thrift Supervision (together, the July 19, 2018.
information technology. Consideration ‘‘Agencies’’), in May 2006. The Pursuant to Section 19(b)(1) of the
will be given to comments and Statement describes the types of internal Securities Exchange Act of 1934 (the
suggestions submitted in writing within controls and risk management ‘‘Act’’),1 and Rule 19b–4 thereunder,2
60 days of this publication. procedures that the Agencies believe are notice is hereby given that on July 18,
particularly effective in assisting 2018, Cboe Exchange, Inc. (the
Please direct your written comments financial institutions to identify and
to Pamela Dyson, Director/Chief ‘‘Exchange’’ or ‘‘Cboe Options’’) filed
address the reputational, legal, and with the Securities and Exchange
Information Officer, Securities and other risks associated with elevated risk
Exchange Commission, C/O Candace Commission (the ‘‘Commission’’) the
complex structured finance proposed rule change as described in
Kenner, 100 F Street NE, Washington, transactions.
DC 20549; or send an email to: PRA_ Items I and II below, which Items have
The primary purpose of the Statement been prepared by the Exchange. The
Mailbox@sec.gov. is to ensure that these transactions Exchange filed the proposal as a ‘‘non-
receive enhanced scrutiny by the controversial’’ proposed rule change
10 Based on information in Commission filings,
institution and to ensure that the pursuant to Section 19(b)(3)(A)(iii) of
we estimate that 38 percent of funds are advised by
subadvisers. institution does not participate in illegal the Act3 and Rule 19b–4(f)(6)
daltland on DSKBBV9HB2PROD with NOTICES

11 This estimate is based on the following or inappropriate transactions. thereunder.4 The Commission is
calculation (3 hours ÷ 4 rules = .75 hours). The Commission estimates that publishing this notice to solicit
12 These estimates are based on the following
approximately 5 registered broker-
calculations: (0.75 hours × 299 portfolios = 224 dealers or investment advisers will 1 15 U.S.C. 78s(b)(1).
burden hours).
13 This estimate is based on the following spend an average of approximately 25 2 17 CFR 240.19b–4.
calculation: (1,464 hours + 976 hours + 944 hours hours per year complying with the 3 15 U.S.C. 78s(b)(3)(A)(iii).

+ 472 + 224 hours = 4,080 total burden hours). Statement. Thus, the total compliance 4 17 CFR 240.19b–4(f)(6).

VerDate Sep<11>2014 18:50 Jul 24, 2018 Jkt 244001 PO 00000 Frm 00104 Fmt 4703 Sfmt 4703 E:\FR\FM\25JYN1.SGM 25JYN1

Document Created: 2018-07-25 00:43:59
Document Modified: 2018-07-25 00:43:59

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		83 FR 35305