30-day FRN

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Federal Register / Vol. 77, No. 230 / Thursday, November 29, 2012 / Notices

OFFICE OF PERSONNEL
MANAGEMENT
Submission for Review: Initial
Certification of Full-Time School
Attendance, RI 25–41
U.S. Office of Personnel
Management.
ACTION: 30-Day Notice and request for
comments.
AGENCY:

The Retirement Services,
Office of Personnel Management (OPM)
offers the general public and other
federal agencies the opportunity to
comment on a revised information
collection request (ICR) 3206–0099,
Initial Certification of Full-Time School
Attendance. As required by the
Paperwork Reduction Act of 1995, (Pub.
L. 104–13, 44 U.S.C. chapter 35) as
amended by the Clinger-Cohen Act
(Pub. L. 104–106), OPM is soliciting
comments for this collection. The
information collection was previously
published in the Federal Register on
June 4, 2012 at Volume 77 FR 33007
allowing for a 60-day public comment
period. No comments were received for
this information collection. The purpose
of this notice is to allow an additional
30 days for public comments. The Office
of Management and Budget is
particularly interested in comments
that:
1. Evaluate whether the proposed
collection of information is necessary
for the proper performance of functions
of the agency, including whether the
information will have practical utility;
2. Evaluate the accuracy of the
agency’s estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used;
3. Enhance the quality, utility, and
clarity of the information to be
collected; and
4. Minimize the burden of the
collection of information on those who
are to respond, including through the
use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
e.g., permitting electronic submissions
of responses.
DATES: Comments are encouraged and
will be accepted until December 31,
2012. This process is conducted in
accordance with 5 CFR 1320.1.
ADDRESSES: Interested persons are
invited to submit written comments on
the proposed information collection to
the Office of Information and Regulatory
Affairs, Office of Management and
Budget, 725 17th Street NW.,
Washington, DC 20503, Attention: Desk

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Officer for the Office of Personnel
Management or sent via electronic mail
to [email protected] or
faxed to (202) 395–6974.
FOR FURTHER INFORMATION CONTACT: A
copy of this ICR with applicable
supporting documentation, may be
obtained by contacting the Office of
Information and Regulatory Affairs,
Office of Management and Budget, 725
17th Street NW., Washington, DC 20503,
Attention: Desk Officer for the Office of
Personnel Management or sent via
electronic mail to
[email protected] or faxed
to (202) 395–6974.
SUPPLEMENTARY INFORMATION: RI 25–41,
Initial Certification of Full-Time School
Attendance, is used to determine
whether a child is unmarried and a fulltime student in a recognized school.
OPM must determine this in order to
pay survivor annuity benefits to
children who are age 18 or older.

Federal workforce. The Council is cochaired by the Chief of Staff of the
Office of Personnel Management.
The meeting is open to the public.
Please contact the Office of Personnel
Management at the address shown
below if you wish to present material to
the Council at the meeting. The manner
and time prescribed for presentations
may be limited, depending upon the
number of parties that express interest
in presenting information.
DATES: December 13th 2012, from 2:00–
4:00 p.m.
Location: U.S. Office of Personnel
Management, 1900 E Street NW., Room
2316C, Washington, DC 20415.
FOR FURTHER INFORMATION CONTACT:
Veronica E. Villalobos, Director for the
Office of Diversity and Inclusion, Office
of Personnel Management, 1900 E St.
NW., Washington, DC 20415. Phone
(202) 606–0040 FAX (202) 606–2183 or
email at [email protected].

Analysis
Agency: Retirement Operations,
Retirement Services, Office of Personnel
Management.
Title: Initial Certification of Full-Time
School Attendance.
OMB Number: 3206–0099.
Frequency: On occasion.
Affected Public: Individuals or
Households.
Number of Respondents: 1,200.
Estimated Time per Respondent: 90
minutes.
Total Burden Hours: 1,800.

U.S. Office of Personnel Management.
John Berry,
Director.

U.S. Office of Personnel Management.
John Berry,
Director.
[FR Doc. 2012–28896 Filed 11–28–12; 8:45 am]

[FR Doc. 2012–28893 Filed 11–28–12; 8:45 am]
BILLING CODE 6325–46–P

OFFICE OF PERSONNEL
MANAGEMENT
Submission for Review: 3206–0140,
Representative Payee Application (RI
20–7) and Information Necessary for a
Competency Determination (RI 30–3)
U.S. Office of Personnel
Management.
ACTION: 60-Day notice and request for
comments.
AGENCY:

BILLING CODE 6325–38–P

The Retirement Services,
Office of Personnel Management (OPM)
offers the general public and other
federal agencies the opportunity to
comment on a revised information
collection request (ICR) 3206–0140,
Representative Payee Application (RI
20–7) and Information Necessary for a
Competency Determination (RI 30–3).
As required by the Paperwork
Reduction Act of 1995 (Pub. L. 104–13,
44 U.S.C. chapter 35) as amended by the
Clinger-Cohen Act (Pub. L. 104–106),
OPM is soliciting comments for this
collection. The Office of Management
and Budget is particularly interested in
comments that:
1. Evaluate whether the proposed
collection of information is necessary
for the proper performance of functions
of the agency, including whether the
information will have practical utility;
2. Evaluate the accuracy of the
agency’s estimate of the burden of the

SUMMARY:

OFFICE OF PERSONNEL
MANAGEMENT
Hispanic Council on Federal
Employment
Office of Personnel
Management.
ACTION: Scheduling of Council Meeting.
AGENCY:

The Hispanic Council on
Federal Employment (HCFE) will hold a
meeting on Monday, December 13th, at
the time and location shown below. The
Council is an advisory committee
composed of representatives from
Hispanic organizations and senior
government officials. Along with its
other responsibilities, the Council shall
advise the Director of the Office of
Personnel Management on matters
involving the recruitment, hiring, and
advancement of Hispanics in the

SUMMARY:

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Federal Register / Vol. 77, No. 230 / Thursday, November 29, 2012 / Notices
proposed collection of information,
including the validity of the
methodology and assumptions used;
3. Enhance the quality, utility, and
clarity of the information to be
collected; and
4. Minimize the burden of the
collection of information on those who
are to respond, including through the
use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
e.g., permitting electronic submissions
of responses.
DATES: Comments are encouraged and
will be accepted until January 28, 2013.
This process is conducted in accordance
with 5 CFR 1320.1.
ADDRESSES: Interested persons are
invited to submit written comments on
the proposed information collection to
the U.S. Office of Personnel
Management, Retirement Services,
Union Square Room US 370, 1900 E
Street NW., Washington, DC 20415,
Attention: Alberta Butler or sent via
electronic mail to
[email protected].
A
copy of this ICR, with applicable
supporting documentation, may be
obtained by contacting the Retirement
Services Publications Team, Office of
Personnel Management, 1900 E Street
NW., Room 4332, Washington, DC
20415, Attention: Cyrus S. Benson, or
sent via electronic mail to
[email protected] or faxed to
(202) 606–0910.
SUPPLEMENTARY INFORMATION: RI 20–7,
Representative Payee Application, is
used by the Civil Service Retirement
System (CSRS) and the Federal
Employees Retirement System (FERS) to
collect information from persons
applying to be fiduciaries for annuitants
or survivor annuitants who appear to be
incapable of handling their own funds
or for minor children. RI 30–3,
Information Necessary for a Competency
Determination, collects medical
information regarding the annuitant’s
competency for OPM’s use in evaluating
the annuitant’s condition.
FOR FURTHER INFORMATION CONTACT:

pmangrum on DSK3VPTVN1PROD with NOTICES

Analysis
Agency: Retirement Operations,
Retirement Services, Office of Personnel
Management.
Title: Representative Payee
Application and Information Necessary
for a Competency Determination.
OMB Number: 3206–0140.
Frequency: On occasion.
Affected Public: Individuals or
Households.

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Number of Respondents: RI 20–7 =
12,480; RI 30–3 = 250.
Estimated Time per Respondent: 90.
Total Burden Hours: 6,490.
U.S. Office of Personnel Management.
John Berry,
Director.
[FR Doc. 2012–28894 Filed 11–28–12; 8:45 am]
BILLING CODE 6325–38–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–68286; File No. S7–04–09]

Order Extending Temporary
Conditional Exemption for Nationally
Recognized Statistical Rating
Organizations From Requirements of
Rule 17g–5 Under the Securities
Exchange Act of 1934 and Request for
Comment
November 26, 2012.

I. Introduction
On May 19, 2010, the Securities and
Exchange Commission (‘‘Commission’’)
conditionally exempted, with respect to
certain credit ratings and until
December 2, 2010, nationally recognized
statistical rating organizations
(‘‘NRSROs’’) from certain requirements
in Rule 17g–5(a)(3) 1 under the
Securities Exchange Act of 1934
(‘‘Exchange Act’’), which had a
compliance date of June 2, 2010.2
Pursuant to the Order, an NRSRO is not
required to comply with Rule 17g–
5(a)(3) until December 2, 2010 with
respect to credit ratings where: (1) The
issuer of the structured finance product
is a non-U.S. person; and (2) the NRSRO
has a reasonable basis to conclude that
the structured finance product will be
offered and sold upon issuance, and that
any arranger linked to the structured
finance product will effect transactions
of the structured finance product after
issuance, only in transactions that occur
outside the U.S. (‘‘covered
transactions’’).3 On November 23, 2010,
the Commission extended the
conditional temporary exemption until
December 2, 2011.4 On November 16,
2011, the Commission extended the
conditional temporary exemption until
December 2, 2012.5 The Commission is
1 See

17 CFR 240.17g–5(a)(3).
Exchange Act Release No. 62120 (May 19,
2010), 75 FR 28825 (May 24, 2010) (‘‘Order’’).
3 See id. at 28827–28 (setting forth conditions of
relief).
4 See Exchange Act Release No. 63363 (Nov. 23,
2010), 75 FR 73137 (Nov. 29, 2010) (‘‘First
Extension Order’’).
5 See Exchange Act Release No. 65765 (Nov. 16,
2011), 76 FR 72227 (Nov. 22, 2011) (‘‘Second
Extension Order’’).
2 See

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extending the temporary conditional
exemption exempting NRSROs from
complying with Rule 17g–5(a)(3) with
respect to rating covered transactions
until December 2, 2013.
II. Background
Rule 17g–5 identifies, in paragraphs
(b) and (c) of the rule, a series of
conflicts of interest arising from the
business of determining credit ratings.6
Paragraph (a) of Rule 17g–5 7 prohibits
an NRSRO from issuing or maintaining
a credit rating if it is subject to the
conflicts of interest identified in
paragraph (b) of Rule 17g–5 unless the
NRSRO has taken the steps prescribed
in paragraph (a)(1) (i.e., disclosed the
type of conflict of interest in Exhibit 6
to Form NRSRO in accordance with
Section 15E(a)(1)(B)(vi) of the Exchange
Act 8 and Rule 17g–1) 9 and paragraph
(a)(2) (i.e., established and is
maintaining and enforcing written
policies and procedures to address and
manage conflicts of interest in
accordance with Section 15E(h) of the
Exchange Act).10 Paragraph (c) of Rule
17g–5 specifically prohibits seven types
of conflicts of interest. Consequently, an
NRSRO is prohibited from issuing or
maintaining a credit rating when it is
subject to these conflicts regardless of
whether it had disclosed them and
established procedures reasonably
designed to address them.
In December 2009, the Commission
adopted subparagraph (a)(3) to Rule
17g–5. This provision requires an
NRSRO that is hired by an arranger to
determine an initial credit rating for a
structured finance product to take
certain steps designed to allow an
NRSRO that is not hired by the arranger
to nonetheless determine an initial
credit rating—and subsequently monitor
that credit rating—for the structured
finance product.11 In particular, under
Rule 17g–5(a)(3), an NRSRO is
prohibited from issuing or maintaining
a credit rating when it is subject to the
conflict of interest identified in
paragraph (b)(9) of Rule 17g–5 (i.e.,
being hired by an arranger to determine
a credit rating for a structured finance
product) 12 unless it has taken the steps
6 17

CFR 240.17g–5(b) and (c).
CFR 240.17g–5(a).
8 15 U.S.C. 78o–7(a)(1)(B)(vi).
9 17 CFR 240.17g–1.
10 15 U.S.C. 78o–7(h).
11 See 17 CFR 240.17g–5(a)(3); see also Exchange
Act Release No. 61050 (Nov. 23, 2009), 74 FR 63832
(Dec. 4, 2009) (‘‘Adopting Release’’) at 63844–45.
12 Paragraph (b)(9) of Rule 17g–5 identifies the
following conflict of interest: Issuing or maintaining
a credit rating for a security or money market
instrument issued by an asset pool or as part of any
asset-backed or mortgage-backed securities
7 17

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