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.
table that charts list comparision
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 issuerÂs 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 CommissionÂs estimate.
$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Mary Simpkins 202 551-5683
Reginfo record details
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)