[Federal Register Volume 79, Number 140 (Tuesday, July 22, 2014)]
[Notices]
[Pages 42563-42564]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-17181]
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SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Securities and Exchange Commission, Office of FOIA Services, 100 F
Street NE., Washington, DC 20549-2736.
Extension: Rule 17f-2(c),
SEC File No. 270-35, OMB Control No. 3235-0029.
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'') is soliciting comments on the collection of
information provided for in Rule 17f-2(c) (17 CFR 240.17f-2(c)) under
the Securities Exchange Act of 1934 (``Act'') (15 U.S.C. 78a et seq.).
The Commission plans to submit this existing collection of information
to the Office of Management and Budget (``OMB'') for extension and
approval.
Rule 17f-2(c) allows persons required to be fingerprinted pursuant
to Section 17(f)(2) of the Act to submit their fingerprints to the
Attorney General of the United States or its designee (i.e., the
Federal Bureau of Investigation (``FBI'')) through a registered
national securities exchange or a registered national securities
association (collectively, also known as ``self-regulatory
organizations'' or ``SROs'') pursuant to a fingerprint plan filed with,
and declared effective by, the Commission. Fingerprint plans have been
declared effective for the American, Boston, Chicago, New York, and
Philadelphia stock exchanges and for the Financial Industry Regulatory
Authority (``FINRA'') and the Chicago Board Options Exchange.
Currently, FINRA accounts for the bulk of the fingerprint submissions.
It is estimated that 5,000 respondents submit approximately 288,000
sets of fingerprints (consisting of 198,500 electronic sets and 89,500
hard copy sets) to SROs on an annual basis. The Commission estimates
that it would take approximately 15 minutes to create and submit each
fingerprint card. The total reporting burden is therefore estimated to
be 72,000 hours, or approximately 15 hours per respondent, annually.
In addition, the SROs charge an estimated $30.25 fee for processing
fingerprint cards submitted electronically, resulting in a total annual
cost to all 5,000 respondents of $6,004,600, or $1,200.92 per
respondent per year. The SROs charge an estimated $44.50 fee for
processing fingerprint cards submitted in hard copy, resulting in a
total annual cost to all 5,000 respondents of approximately $3,982,700,
or $796.54 per respondent per year. The combined annual cost to all
respondents is thus $9,987,300.
Because the FBI will not accept fingerprint cards directly from
submitting organizations, Commission approval of fingerprint plans from
certain SROs is essential to carry out the Congressional goal to
fingerprint securities industry personnel. Filing these plans for
review assures users and their personnel that fingerprint cards will be
handled responsibly and with due care for confidentiality.
Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the agency, including whether the
[[Page 42564]]
information will have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection of information; (c)
ways to enhance the quality, utility, and clarity of the information
collected; and (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology.
Consideration will be given to comments and suggestions submitted in
writing within 60 days of this publication.
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.
Please direct your written comments to Thomas Bayer, Chief
Information Officer, Securities and Exchange Commission, c/o Remi
Pavlik-Simon, 100 F Street NE., Washington, DC 20549 or send an email
to: [email protected].
Dated: July 16, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-17181 Filed 7-21-14; 8:45 am]
BILLING CODE 8011-01-P