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
01/31/2015
36 Months From Approved
01/31/2012
268,630
0
77,000
162,877
0
64,541
10,534,116
0
7,717,450
Rule 15c2-12 is intended to enhance
disclosure, and thereby reduce fraud, in the municipal securities
market by establishing standards for obtaining, reviewing, and
disseminating information about municipal securities by their
underwriters.
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
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
Both costs and the time burden
has increased due to the adoption of amendments to the existing
information collection. The annual time burden has increased 98,336
hours and estimated costs have increased $2,816,666 annually. For
broker-dealers, the Commission estimated that 20% increase in the
number of issuers with offerings would increase the annual burden
for all broker dealers by 20%. Thus, the annual burden for broker
dealers would increase by 50 hours to 300 total hours. In addition,
the Commission estimates that a broker-dealer will incur a one-time
paperwork burden to have its internal compliance attorney prepare
and issue a notice advising its employees about the final revisions
to the Rule, which would take approximately 30 minutes to prepare.
This one-time burden would total 125 hours, which is approximately
42 hours on an annualized basis. The Commission estimates that the
number of issuers with paperwork burden as a result of the
amendments will increase by 20%, from 10,000 issuers estimated in
the proposing release, to 12,000 issuers. The additional issuers
will increase the aggregate number of annual filings, event
notices, and failure to file notices each year. For MSRB, the
Commission estimates that the total burden of collecting, indexing,
storing, retrieving and disseminating information requested by the
public will increase by approximately 29%, or 2,030 hours. The
commission estimates that MSRB will have costs no more than
approximately $10,000. The Commission estimates that 10,000 issuers
who currently submit documents to MSRB electronically would have to
file 6 notices per year, at $8 per notice, for a total of $480,000.
These 10,000 issuers would also have a one-time cost to revise a
continuing disclosure agreement to reflect the amendment at
$1,000,000. The Commission has annualized this amount to
$333,333.
$3,500
No
No
No
No
No
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.