[Federal Register Volume 82, Number 183 (Friday, September 22, 2017)]
[Notices]
[Pages 44479-44480]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-20216]
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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:
Rule 17Ab2-1, Form CA-1, SEC File No. 270-203, OMB Control No.
3235-0195
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
[[Page 44480]]
collection of information provided for in Rule 17Ab2-1 (17 CFR
240.17Ab2-1) and Form CA-1: Registration of Clearing Agencies (17 CFR
249b.200) under the Securities Exchange Act of 1934 (``Exchange Act'')
(15 U.S.C. 78a et seq.).
Rule 17Ab2-1 and Form CA-1 require clearing agencies to register
with the Commission and to meet certain requirements with regard to,
among other things, the clearing agency's organization, capacities, and
rules. The information is collected from the clearing agency upon the
initial application for registration on Form CA-1. Thereafter,
information is collected by amendment to the initial Form CA-1 when
changes in circumstances that render certain information on Form CA-1
inaccurate, misleading, or incomplete necessitate modification of the
information previously provided to the Commission.
The Commission uses the information disclosed on Form CA-1 to (i)
determine whether an applicant meets the standards for registration set
forth in Section 17A of the Exchange Act, (ii) enforce compliance with
the Exchange Act's registration requirement, and (iii) provide
information about specific registered clearing agencies for compliance
and investigatory purposes. Without Rule 17Ab2-1, the Commission could
not perform these duties as statutorily required.
The Commission staff estimates that the average Form CA-1 requires
approximately 130 hours to complete and submit for approval. This
burden is composed primarily of a one-time reporting burden that
reflects the applicant's staff time (i.e. internal labor costs) to
prepare and submit the Form to the Commission. This estimate includes
the burden associated with filing amendments to Form CA-1, which is
required when certain information contained in an applicant's or
registrant's Form CA-1 becomes inaccurate, misleading, or incomplete.
(The time burden related to preparing and submitting an amendment
widely varies depending on the nature of the information that needs to
be updated.) Since the Commission only receives an average of one
submission per year, the aggregate annual burden associated with
compliance with Rule 17Ab2-1 and Form CA-1 is 130 hours. The Commission
staff estimates that compliance staff work at applicant or registrant
clearing agencies to comply with Rule 17Ab2-1 and complete Form CA-1
will result in an internal cost of compliance, at an estimated hourly
wage of $283, of $36,790 per year per clearing agency (130 hours x $283
per hour = $36,790 per year). Therefore, the aggregate annual internal
cost of compliance for the approximately one clearing agency each year
to comply with Rule 17Ab2-1 is also $36,790. The external costs
associated with work on Form CA-1 include fees charged by outside
lawyers and accountants to assist the applicant or registrant collect
and prepare the information sought by the form (though such
consultations are not required by the Commission) and are estimated to
be approximately a total amount of $19,029 ($19,029 times one
registrant 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 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: September 19, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-20216 Filed 9-21-17; 8:45 am]
BILLING CODE 8011-01-P