[Federal Register Volume 75, Number 56 (Wednesday, March 24, 2010)]
[Notices]
[Page 14217]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-6506]
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SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; Comment Request
Upon Written Request, Copies Available From: U.S. Securities and
Exchange Commission, Office of Investor Education and Advocacy,
Washington, DC 20549-0213.
Extension:
Rule 17a-12, SEC File No. 270-442, OMB Control No. 3235-0498.
Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') has submitted to the Office of Management
and Budget a request for approval of extension of the previously
approved collection provided for in Rule 17a-12 (17 CFR 240.17a-12)
under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.)
(``Exchange Act'').
Rule17a-12 under the Exchange Act requires OTC derivatives dealers
to file quarterly Financial and Operational Combined Uniform Single
Reports (``FOCUS'' reports) on Part IIB of Form X-17A-5,\1\ the basic
document for reporting the financial and operational condition of OTC
derivatives dealers. 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.
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\1\ Form X-17A-5 (17 CFR 249.617).
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The staff estimates that the average amount of time necessary to
prepare and file the information required by Rule 17a-12 is 180 hours
per OTC derivatives dealer annually--an average of twenty hours
preparing each of four quarterly reports and an additional 100 hours
for the annual audit. Four entities are presently registered as OTC
derivatives dealers and the staff expects that one additional OTC
derivatives dealer, with an application pending, will become registered
within the next three years. Thus the total burden is estimated to be
900 hours annually ((180 x 4) + (180 x 1)).
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 Boucher, Director/Chief Information
Officer, Securities and Exchange Commission, c/o Shirley Martinson,
6432 General Green Way, Alexandria, Virginia 22312 or send an e-mail to
[email protected]. Comments must be submitted to OMB within 30 days
of this notice.
Dated: March 17, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-6506 Filed 3-23-10; 8:45 am]
BILLING CODE 8011-01-P