30 Day Notice

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Federal Register / Vol. 85, No. 104 / Friday, May 29, 2020 / Notices

Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) (‘‘PRA’’), the
Securities and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the existing collection of information
provided for in Rule 17a–5 (17 CFR
240.17a–5), under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.). The Commission plans to submit
this existing collection of information to
the Office of Management and Budget
(‘‘OMB’’) for extension and approval.
Rule 17a–5 is the basic financial
reporting rule for brokers and dealers.1
The rule requires the filing of Form X–
17A–5, the Financial and Operational
Combined Uniform Single Report
(‘‘FOCUS Report’’), which was the result
of years of study and comments by
representatives of the securities industry
through advisory committees and
through the normal rule proposal

methods. The FOCUS Report was
designed to eliminate the overlapping
regulatory reports required by various
self-regulatory organizations and the
Commission and to reduce reporting
burdens as much as possible. The rule
also requires the filing of an annual
audited report of financial statements.
The FOCUS Report consists of: (1)
Part I, which is a monthly report that
must be filed by brokers or dealers that
clear transactions or carry customer
securities; (2) one of three alternative
quarterly reports: Part II, which must be
filed by brokers or dealers that clear
transactions or carry customer
securities; Part IIA, which must be filed
by brokers or dealers that do not clear
transactions or carry customer
securities; and Part IIB, which must be
filed by specialized broker-dealers
registered with the Commission as OTC
derivatives dealers; 2 (3) supplemental
schedules, which must be filed
annually; and (4) a facing page, which
must be filed with the annual audited
report of financial statements. Under the
rule, a broker or dealer that computes
certain of its capital charges in
accordance with Appendix E to
Exchange Act Rule 15c3–1 must file
additional monthly, quarterly, and
annual reports with the Commission.
The Commission estimates that the
total hour burden under Rule 17a–5 is
approximately 328,746 hours per year
when annualized, and the total cost
burden under Rule 17a–5 is
approximately $35,287,127 per year.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimate of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information collected; and (d)
ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted in
writing within 60 days of this
publication.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.

1 Rule 17a–5(c) requires a broker or dealer to
furnish certain of its financial information to
customers and is subject to a separate PRA filing
(OMB Control Number 3235–0199).

2 Part IIB of Form X–17A–5 must be filed by OTC
derivatives dealers under Exchange Act Rule 17a–
12 and is subject to a separate PRA filing (OMB
control number 3235–0498).

(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology. Consideration will be given
to comments and suggestions submitted
in writing within 60 days of this
publication.
Please direct your written comments
to David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, C/O Cynthia
Roscoe, 100 F Street NE, Washington,
DC 20549; or send an email to: PRA_
[email protected].
Dated: May 26, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–11596 Filed 5–28–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736

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Extension:
Rule 17a–5, SEC File No. 270–155, OMB
Control No. 3235–0123

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Please direct your written comments
to: David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Cynthia
Roscoe, 100 F Street NE, Washington,
DC 20549, or send an email to PRA_
[email protected].
Dated: May 26, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–11593 Filed 5–28–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting; Cancellation
FEDERAL REGISTER CITATION OF PREVIOUS
ANNOUNCEMENT: 85 FR 31564, May 26,

2020.
PREVIOUSLY ANNOUNCED TIME AND DATE OF
THE MEETING: Wednesday, May 27, 2020

at 2:00 p.m.
The Closed
Meeting scheduled for Wednesday, May
27, 2020 at 2:00 p.m., has been
cancelled.
CONTACT PERSON FOR MORE INFORMATION:
For further information; please contact
Vanessa A. Countryman from the Office
of the Secretary at (202) 551–5400.
CHANGES IN THE MEETING:

Dated: May 27, 2020.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2020–11714 Filed 5–27–20; 4:15 pm]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Extension: Rule 15c2–5, SEC File No. 270–
195; OMB Control No. 3235–0198

Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for approval of
extension of the previously approved
collection of information provided for in
Rule 15c2–5 (17 CFR 240.15c2–5),
under the Securities Exchange Act of
1934 (15 U.S.C. 78 et seq.) (‘‘Exchange
Act’’).
Rule 15c2–5 prohibits a broker-dealer
from arranging or extending certain

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Federal Register / Vol. 85, No. 104 / Friday, May 29, 2020 / Notices

32435

information required under Rule 15c2–
5 is necessary for broker-dealers to
engage in the lending activities
prescribed in the Rule. Rule 15c2–5
does not assure confidentiality for the
information retained under the rule.6
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
The public may view background
documentation for this information
collection at the following website:
www.reginfo.gov Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to (i) www.reginfo.gov/public/do/
PRAMain and (ii) David Bottom,
Director/Chief Information Officer,
Securities and Exchange Commission, c/
o Cynthia Roscoe, 100 F Street NE,
Washington, DC 20549, or by sending an
email to: [email protected].

Percent

jbell on DSKJLSW7X2PROD with NOTICES

loans to persons in connection with the
offer or sale of securities unless, before
any element of the transaction is entered
into, the broker-dealer: (1) Delivers to
the person a written statement
containing the exact nature and extent
of the person’s obligations under the
loan arrangement; the risks and
disadvantages of the loan arrangement;
and all commissions, discounts, and
other remuneration received and to be
received in connection with the
transaction by the broker-dealer or
certain related persons (unless the
person receives certain materials from
the lender or broker-dealer which
contain the required information); and
(2) obtains from the person information
on the person’s financial situation and
needs, reasonably determines that the
transaction is suitable for the person,
and retains on file and makes available
to the person on request a written
statement setting forth the brokerdealer’s basis for determining that the
transaction was suitable. The collection
of information required by Rule 15c2–5
is necessary to execute the
Commission’s mandate under the
Exchange Act to prevent fraudulent,
manipulative, and deceptive acts and
practices by broker-dealers.
The Commission estimates that there
are approximately 50 respondents that
require an aggregate total of 600 hours
to comply with Rule 15c2–5.1 Each of
these approximately 50 registered
broker-dealers makes an estimated six
annual responses, for an aggregate total
of 300 responses per year.2 Each
response takes approximately two hours
to complete. Thus, the total compliance
burden per year is 600 burden hours.3
The approximate internal compliance
cost per hour is $63.00 for clerical
labor,4 resulting in a total internal
compliance cost of $37,800.5 These
reflect internal labor costs; there are no
external labor, capital, or start-up costs.
Although Rule 15c2–5 does not
specify a retention period or recordkeeping requirement under the rule,
broker-dealers are required to preserve
the records for a period no less than six
years pursuant to Rule 17a–4(c). The
1 50 respondents × 6 responses per year × 2 hours
per response = 600 hours per year.
2 50 respondents × 6 responses per year = 300
responses per year.
3 300 responses per year × 2 hours per response
= 600 hours per year.
4 Cost per hour for a clerk is from SIFMA’s Office
Salaries in the Securities Industry 2013, modified
by Commission staff to account for an 1800-hour
work-year, multiplied by 2.93 to account for
bonuses, firm size, employee benefits and overhead,
and adjusted by a factor of 1.0965 to account for
inflation.
5 600 hours per year × $63.00 per hour = $37,800
per year.

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Dated: May 26, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–11592 Filed 5–28–20; 8:45 am]
BILLING CODE 8011–01–P

SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #16469 and #16470;
Pennsylvania Disaster Number PA–00105

Administrative Declaration of a
Disaster for the Commonwealth of
Pennsylvania
U.S. Small Business
Administration.
ACTION: Notice.
AGENCY:

Economic Injury (EIDL) Loan
Application Deadline Date: 02/22/2021.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing and
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
FOR FURTHER INFORMATION CONTACT: A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street SW, Suite 6050,
Washington, DC 20416, (202) 205–6734.
SUPPLEMENTARY INFORMATION: Notice is
hereby given that as a result of the
Administrator’s disaster declaration,
applications for disaster loans may be
filed at the address listed above or other
locally announced locations.
The following areas have been
determined to be adversely affected by
the disaster:
Primary Counties: Huntingdon
Contiguous Counties:
Pennsylvania—Bedford, Blair, Centre,
Franklin, Fulton, Juniata, Mifflin.
The Interest Rates are:

For Physical Damage:
Homeowners With Credit Available Elsewhere ........................
Homeowners
Without
Credit
Available Elsewhere ................
Businesses With Credit Available
Elsewhere ................................
Businesses Without Credit Available Elsewhere ........................
Non-Profit Organizations With
Credit Available Elsewhere .....
Non-Profit Organizations Without
Credit Available Elsewhere .....
For Economic Injury:
Businesses & Small Agricultural
Cooperatives Without Credit
Available Elsewhere ................
Non-Profit Organizations Without
Credit Available Elsewhere .....

2.500
1.250
6.000
3.000
2.750
2.750

3.000
2.750

This is a notice of an
Administrative declaration of a disaster
for the Commonwealth of Pennsylvania
dated 05/22/2020.
Incident: Apartment Complex Fire.
Incident Period: 05/12/2020.
DATES: Issued on 05/22/2020.
Physical Loan Application Deadline
Date: 07/21/2020.

The number assigned to this disaster
for physical damage is 16469 5 and for
economic injury is 16470 0.
The State which received an EIDL
Declaration # is Pennsylvania.

6 The records required by Rule 15c2–5 would be
available only for examination purposes of the
Commission staff, state securities authorities, and
the self-regulatory organizations. Subject to the
provisions of the Freedom of Information Act, 5
U.S.C. 552, and the Commission’s rules thereunder
(17 CFR 200.80(b)(4)(iii)), the Commission does not
generally publish or make available information
contained in any reports, summaries, analyses,
letters, or memoranda arising out of, in anticipation
of, or in connection with an examination or
inspection of the books and records of any person
or any other investigation.

[FR Doc. 2020–11550 Filed 5–28–20; 8:45 am]

SUMMARY:

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(Catalog of Federal Domestic Assistance
Number 59008)
Jovita Carranza,
Administrator.
BILLING CODE 8026–03–P

STATE JUSTICE INSTITUTE
SJI Board of Directors Meeting, Notice
State Justice Institute.
Notice of meeting.

AGENCY:
ACTION:

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