Pre-approval
contingent upon no substantive changes to this collection after
adoption of the final rule. Otherwise this collection should be
re-submitted to OMB for review.
Inventory as of this Action
Requested
Previously Approved
11/30/2011
36 Months From Approved
03/31/2010
77,000
0
12,000
64,541
0
123,850
21,016,668
0
0
Rule 15c2-12, 17 CFR 240.15c2-12,
under the Securities Exchange Act of 1934 requires underwriters of
municipal securities: (1) to obtain and review a copy of an
official statement deemed final by an issuer of the securities,
except for the omission of specified information; (2) in
non-competitively bid offerings, to make available, upon request,
the most recent preliminary official statement, if any; (3) to
contract with the issuer of the securities, or its agent, to
receive, within specified time periods, sufficient copies of the
issuers final official statement to comply both with this rule and
any rules of the MSRB; (4) to provide, for a specified period of
time, copies of the final official statement to any potential
customer upon request; (5) before purchasing or selling municipal
securities in connection with an offering, to reasonably determine
that the issuer or other specified person has undertaken, in a
written agreement or contract, for the benefit of holders of such
municipal securities, to provide certain information about the
issue or issuer on a continuing basis to the Municipal Securities
Rulemaking Board in an electronic format as prescribed by the
Municipal Securities Rulemaking Board; and (6) to obtain the
information the issuer of the municipal security has undertaken to
provide prior to recommending a transaction in the municipal
security.
US Code:
15
USC 78q Name of Law: Securities Exchange Act of 1934
US Code: 15
USC 78w Name of Law: Securities Exchange Act of 1934
US Code: 15
USC 78b Name of Law: Securities Exchange Act of 1934
US Code: 15
USC 78c Name of Law: Securities Exchange Act of 1934
US Code: 15
USC 78j Name of Law: Securities Exchange Act of 1934
US Code: 15
USC 78o Name of Law: Securities Exchange Act of 1934
US Code: 15
USC 78o-4 Name of Law: Securities Exchange Act of 1934
The annual time burden has
decreased primarily due to the reduction from 4 NRMSIRs to one sole
repository (the MSRB). The increase in annual cost burden is
primarily due to one-time start-up costs associated with acquiring
and developing the necessary technology for electronic submissions
and collections of information. As discussed in further detail in
the Supporting Statement, in order to provide an estimate that is
not under-inclusive the Commission has conservatively assumed the
maximum costs associated with issuers acquiring this computer
hardware and software. The Commission expects that most issuers
already have the computer equipment and software associated with
this annual cost estimate. Thus, the Commission believes that the
actual annual costs for issuers associated with acquiring computer
hardware and software will be substantially lower than the
Commissions estimate.
$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Mary Simpkins 202
551-5683
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.
PRA - 2008 revised 15c2-12 Justification (2).doc
Municipal Securities Disclosure (17 CFR 240.15c2-12)