[Federal Register Volume 80, Number 91 (Tuesday, May 12, 2015)]
[Notices]
[Page 27219]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-11368]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-560, OMB Control No. 3235-0622]
Proposed Collection; 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'') is soliciting comments on the existing
collection of information provided for in the proposed 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 Commission plans to submit this existing collection of
information to the Office of Management and Budget (``OMB'') for
extension and approval.
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.
Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the Commission, including whether the information
shall have practical utility; (b) the accuracy of the Commission's
estimates of the burden of the proposed 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: Pamela Dyson, Director/
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: May 6, 2015.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-11368 Filed 5-11-15; 8:45 am]
BILLING CODE 8011-01-P