83 FR 55209 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 213 (November 2, 2018)

Page Range		55209-55209
FR Document		2018-23961

Federal Register, Volume 83 Issue 213 (Friday, November 2, 2018)

[Federal Register Volume 83, Number 213 (Friday, November 2, 2018)]
[Notices]
[Page 55209]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-23961]


=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-442, OMB Control No. 3235-0498]


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 17a-12/Form X-17A-5 Part IIB

    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 17a-
12 (17 CFR 240.17a-12) and Part IIB of Form X-17A-5 (17 CFR 249.617) 
under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
    Rule 17a-12 is the reporting rule tailored specifically for over-
the-counter (``OTC'') derivatives dealers registered with the 
Commission, and Part IIB of Form X-17A-5, the Financial and Operational 
Combined Uniform Single (``FOCUS'') Report, is the basic document for 
reporting the financial and operational condition of OTC derivatives 
dealers. Rule 17a-12 requires registered OTC derivatives dealers to 
file Part IIB of the FOCUS Report quarterly. Rule 17a-12 also requires 
that OTC derivatives dealers file audited financial statements 
annually.
    The reports required under Rule 17a-12 provide the Commission with 
information used to monitor the operations of OTC derivatives dealers 
and to enforce their compliance with the Commission's rules. These 
reports also enable the Commission to review the business activities of 
OTC derivatives dealers and to anticipate, where possible, how these 
dealers may be affected by significant economic events.
    There are currently three registered OTC derivatives dealers. The 
staff expects that three additional firms will register as OTC 
derivatives dealers within the next three years. The staff estimates 
that the average amount of time necessary to prepare and file the 
quarterly reports required by the rule is eighty hours per OTC 
derivatives dealer \1\ and that the average amount of time to prepare 
and file the annual audit report is 100 hours per OTC derivatives 
dealer per year, for a total reporting burden of 180 hours per OTC 
derivatives dealer annually. Thus the staff estimates that the total 
industry-wide reporting burden to comply with the requirements of Rule 
17a-12 is 1,080 hours per year (180 x 6). The Commission estimates that 
the average annual reporting cost per broker-dealer for an independent 
public accountant to examine the financial statements is approximately 
$46,300 per broker-dealer. Thus, the total industry-wide annual 
reporting cost is approximately $277,800 ($46,300 x 6).
---------------------------------------------------------------------------

    \1\ Based upon an average of 4 responses per year and an average 
of 20 hours spent preparing each response.
---------------------------------------------------------------------------

    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) Charles Riddle, Acting 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: October 29, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-23961 Filed 11-1-18; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 213 / Friday, November 2, 2018 / Notices 55209

the DFO if such rescheduling would information used to monitor the Dated: October 29, 2018.
result in a major inconvenience. operations of OTC derivatives dealers Eduardo A. Aleman,
If attending this meeting, please enter and to enforce their compliance with Assistant Secretary.
through the Three White Flint North the Commission’s rules. These reports [FR Doc. 2018–23961 Filed 11–1–18; 8:45 am]
building, 11601 Landsdown Street, also enable the Commission to review BILLING CODE 8011–01–P
North Bethesda, MD 20852. After the business activities of OTC
registering with Security, please derivatives dealers and to anticipate,
proceed to conference Room 1C3–1C5, where possible, how these dealers may SECURITIES AND EXCHANGE
located directly behind the security be affected by significant economic COMMISSION
desk on the first floor. You may contact events. [SEC File No. 270–446, OMB Control No.
Mr. Theron Brown (Telephone 301–
There are currently three registered 3235–0503]
415–6702) for assistance or to be
escorted to the meeting room. OTC derivatives dealers. The staff
expects that three additional firms will Proposed Collection; Comment
Dated: October 30, 2018. register as OTC derivatives dealers Request
Christopher Brown, within the next three years. The staff Upon Written Request, Copies Available
Acting Chief, Technical Support Branch, estimates that the average amount of From: Securities and Exchange
Advisory Committee on Reactor Safeguards. time necessary to prepare and file the Commission, Office of FOIA Services,
[FR Doc. 2018–23986 Filed 11–1–18; 8:45 am] quarterly reports required by the rule is 100 F Street NE, Washington, DC
BILLING CODE 7590–01–P eighty hours per OTC derivatives 20549–2736
dealer 1 and that the average amount of Extension:
time to prepare and file the annual audit Form N–6
SECURITIES AND EXCHANGE report is 100 hours per OTC derivatives
COMMISSION Notice is hereby given that, pursuant
dealer per year, for a total reporting to the Paperwork Reduction Act of 1995
[SEC File No. 270–442, OMB Control No. burden of 180 hours per OTC (44 U.S.C. 3501 et seq.), the Securities
3235–0498] derivatives dealer annually. Thus the and Exchange Commission (the
staff estimates that the total industry- ‘‘Commission’’) is soliciting comments
Submission for OMB Review; wide reporting burden to comply with on the collection of information
Comment Request the requirements of Rule 17a–12 is summarized below. The Commission
1,080 hours per year (180 × 6). The plans to submit this existing collection
Upon Written Request, Copies Available
From: Securities and Exchange Commission estimates that the average of information to the Office of
Commission, Office of FOIA Services, annual reporting cost per broker-dealer Management and Budget for extension
100 F Street NE, Washington, DC for an independent public accountant to and approval.
20549–2736. examine the financial statements is The title for the collection of
approximately $46,300 per broker- information is ‘‘Form N–6 (17 CFR
Extension: 239.17c and 274.11d) under the
dealer. Thus, the total industry-wide
Rule 17a–12/Form X–17A–5 Part IIB
annual reporting cost is approximately Securities Act of 1933 (15 U.S.C. 77a et
Notice is hereby given that pursuant $277,800 ($46,300 × 6). seq.) and under the Investment
to the Paperwork Reduction Act of 1995 Company Act of 1940 (15 U.S.C. 80a–1
An agency may not conduct or
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the et seq.) registration statement of separate
sponsor, and a person is not required to
Securities and Exchange Commission accounts organized as unit investment
respond to, a collection of information
(‘‘Commission’’) has submitted to the trusts that offer variable life insurance
Office of Management and Budget under the PRA unless it displays a
policies.’’ Form N–6 is the form used by
(‘‘OMB’’) a request for approval of currently valid OMB control number.
insurance company separate accounts
extension of the previously approved The public may view background organized as unit investment trusts that
collection of information provided for in documentation for this information offer variable life insurance contracts to
Rule 17a–12 (17 CFR 240.17a–12) and collection at the following website: register as investment companies under
Part IIB of Form X–17A–5 (17 CFR www.reginfo.gov. Comments should be the Investment Company Act of 1940
249.617) under the Securities Exchange directed to: (i) Desk Officer for the and/or to register their securities under
Act of 1934 (15 U.S.C. 78a et seq.). Securities and Exchange Commission, the Securities Act of 1933. The primary
Rule 17a–12 is the reporting rule Office of Information and Regulatory purpose of the registration process is to
tailored specifically for over-the-counter Affairs, Office of Management and provide disclosure of financial and
(‘‘OTC’’) derivatives dealers registered Budget, Room 10102, New Executive other information to investors and
with the Commission, and Part IIB of Office Building, Washington, DC 20503, potential investors for the purpose of
Form X–17A–5, the Financial and or by sending an email to: evaluating an investment in a security.
Operational Combined Uniform Single Lindsay.M.Abate@omb.eop.gov; and (ii) Form N–6 also requires separate
(‘‘FOCUS’’) Report, is the basic Charles Riddle, Acting Director/Chief accounts organized as unit investment
document for reporting the financial Information Officer, Securities and trusts that offer variable life insurance
and operational condition of OTC Exchange Commission, c/o Candace policies to provide investors with a
derivatives dealers. Rule 17a–12 Kenner, 100 F Street NE, Washington, prospectus and a statement of additional
requires registered OTC derivatives DC 20549, or by sending an email to information (‘‘SAI’’) covering essential
dealers to file Part IIB of the FOCUS PRA_Mailbox@sec.gov. Comments must information about the separate account
Report quarterly. Rule 17a–12 also be submitted to OMB within 30 days of when it makes an initial or additional
requires that OTC derivatives dealers this notice. offering of its securities.
file audited financial statements The Commission estimates that
annually. 1 Based upon an average of 4 responses per year approximately 388 registration
The reports required under Rule 17a– and an average of 20 hours spent preparing each statements (8 initial registration
12 provide the Commission with response. statements plus 380 post-effective

VerDate Sep<11>2014 17:57 Nov 01, 2018 Jkt 247001 PO 00000 Frm 00068 Fmt 4703 Sfmt 4703 E:\FR\FM\02NON1.SGM 02NON1

Document Created: 2018-11-02 01:09:34
Document Modified: 2018-11-02 01:09:34

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 55209