30 Day Notice

Federal Register / Vol. 87, No. 1 / Monday, January 3, 2022 / Notices
SE is a public document and is filed on
occasion. Form SE is filed by
individuals, companies or other entities
that are required to file documents
electronically. Approximately 19
registrants file Form SE and it takes an
estimated 0.10 hours per response for a
total annual burden of 2 hours (0.10
hours per response × 19 responses).
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless it displays a currently valid
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 John Pezzullo, 100 F Street NE,
Washington, DC 20549, or by sending an
email to: [email protected].
Dated: December 28, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–28439 Filed 12–30–21; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–028, OMB Control No.
3235–0032]

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Submission for OMB Review;
Comment Request; Extension: Rule
17f–1(b)
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
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 17f–1(b) (17 CFR 240.17f–1(b)),
under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.).
Under Rule 17f–1(b) under the
Exchange Act, approximately 10,000
entities in the securities industry are

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registered in the Lost and Stolen
Securities Program (‘‘Program’’).
Registration fulfills a statutory
requirement that entities report and
inquire about missing, lost, counterfeit,
or stolen securities. Registration also
allows entities in the securities industry
to gain access to a confidential database
that stores information for the Program.
The Commission staff estimates that
10 new entities will register in the
Program each year. The staff estimates
that the average number of hours
necessary to comply with Rule 17f–1(b)
is one-half hour. Accordingly, the staff
estimates that the total annual burden
for all participants is 5 hours (10 × onehalf hour). The Commission staff
estimates that compliance staff work at
subject entities results in an internal
cost of compliance, at an estimated
hourly wage of $283, of $141.50 per year
per entity (.5 hours × $283 per hour =
$141.50 per year). Therefore, the
aggregate annual internal cost of
compliance is approximately $1,415
($141.50 × 10 = $1,415).
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 John R. Pezzullo, 100 F Street NE,
Washington, DC 20549, or by sending an
email to: [email protected].
Dated: December 28, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–28431 Filed 12–30–21; 8:45 am]
BILLING CODE 8011–01–P

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137

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–642, OMB Control No.
3235–0696]

Submission for OMB Review;
Comment Request; Extension: Rules
15Fb1–1 Through 15Fb6–2 and Forms
SBSE, SBSE–A, SBSE–BD, SBSE–C
and SBSE–W
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
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 extension of the
previously approved collection of
information discussed below. The Code
of Federal Regulation citations
associated with this collection of
information are 17 CFR 240.15Fb1–1
through 240.15Fb6–2, and 17 CFR
249.1600, 249.1600a, 249.1600b,
249.1600c and 249.1601.
The Commission adopted Rules
15Fb1–1 through 15Fb6–2 and Forms
SBSE, SBSE–A, SBSE–BD, SBSE–C and
SBSE–W on August 5, 2015 to create a
process to register SBS Entities. Forms
SBSE, SBSE–A, and SBSE–BD and
SBSE–C were designed to elicit certain
information from applicants. The
Commission uses the information
disclosed by applicants through the SBS
Entity registration rules and forms to: (1)
Determine whether an applicant meets
the standards for registration set forth in
the provisions of the Exchange Act; and
(2) develop an information resource
regarding SBS Entities where members
of the public may obtain relevant, up-todate information about SBS Entities,
and where the Commission may obtain
information for examination and
enforcement purposes. Without the
information provided through these SBS
Entity registration rules and forms, the
Commission could not effectively
determine whether the applicant meets
the standards for registration or
implement policy objectives of the
Exchange Act.
The information collected pursuant to
Rule 15Fb3–2 and Form SBSE–W allows
the Commission to determine whether it
is appropriate to allow an SBS Entity to
withdraw from registration and to
facilitate that withdrawal. Without this
information, the Commission would be
unable to effectively determine whether
it was appropriate to allow an SBS

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Federal Register / Vol. 87, No. 1 / Monday, January 3, 2022 / Notices

Entity to withdraw. In addition, it
would be more difficult for the
Commission to properly regulate SBS
Entities if it were unable to quickly
identify those that have withdrawn from
the security-based swap business.
In 2017 there were approximately 55
entities that may need to register as SBS
Entities. That number has not changed.
The Commission estimates that these
Entities likely would incur a total
burden of 9,825 hours per year to
comply with Rules 15Fb1–1 through
15Fb6–2 and Forms SBSE, SBSE–A,
SBSE–BD, SBSE–C and SBSE–W.
In addition, Rules 15Fb1–1 through
15Fb6–2 and Forms SBSE, SBSE–A,
SBSE–BD, SBSE–C and SBSE–W may
impose certain costs on non-resident
persons that apply to be registered with
the Commission as SBS Entities,
including an initial and ongoing costs
associated with obtaining an opinion of
counsel indicating that it can, as a
matter of law, provide the Commission
with access to its books and records and
submit to Commission examinations,
and an ongoing cost associated with
establishing and maintaining a
relationship with a U.S. agent for
service of process.
The staff estimates, based on internet
research,1 that it would cost each
nonresident SBS Entity approximately
$191 annually to appoint and maintain
a relationship with a U.S. agent for
service of process. Consequently, the
total cost for all nonresident SBS
Entities to appoint and maintain
relationships with U.S. agents for
service of process is approximately
$4,202 per year.
Non-resident SBS Entities also would
incur outside legal costs associated with
obtaining an opinion of counsel. The
staff estimates that each of the estimated
22 non-resident persons that likely will
apply to register as SBS Entities with
the Commission would incur, on
average, approximately $25,000 in
outside legal costs to obtain the opinion
of counsel necessary to register, and that
the total annualized cost for all
nonresident SBS Entities to obtain this
opinion of counsel would be
approximately $183,333. Nonresident
SBS Entities would also need to obtain
a revised opinion of counsel after any

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1 See,

e.g., https://www.incorp.com/registeredagent-services/ (as of October 15, 2021, $129 per
year), https://www.wolterskluwer.com/en/solutions/
ct-corporation/registered-agent-services-solutions
(as of October 15, 2021, $305 per year), and https://
www.ailcorp.com/services/registered-agent (as of
October 15, 2021, $149 per year). The staff sought
websites that provided pricing information and a
comprehensive description of their registered agent
services. We calculated our estimate by averaging
the costs provided on these three websites—($129
+ $305 + $149) ÷ 3 = $191.

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changes in the legal or regulatory
framework that would impact the SBS
Entity’s ability to provide, or manner in
which it provides, the Commission with
prompt access to its books and records
or that impacts the Commission’s ability
to inspect and examine the SBS Entity.
We do not believe this would occur
frequently, and therefore estimate that
one non-resident entity may need to
recertify annually. Thus, the total
ongoing cost associated with obtaining a
revised opinion of counsel regarding the
new regulatory regime would be
approximately $25,000 annually.
Consequently, the total annualized cost
burden associated with Rules 15Fb1–1
through 15Fb6–2 and Forms SBSE,
SBSE–A, SBSE–BD, SBSE–C and SBSE–
W would be approximately $212,205
per year.
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) >MBX.OMB.OIRA.SEC_
[email protected] < and (ii)
David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o John R.
Pezzullo, 100 F Street NE, Washington,
DC 20549, or by sending an email to:
[email protected].
Dated: December 28, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–28425 Filed 12–30–21; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[OMB Control No. 3235–0495, SEC File No.
270–438]

Submission for OMB Review;
Comment Request; Extension: Rule
154
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Notice is hereby given that, under the
Paperwork Reduction Act of 1995 (44

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U.S.C. 3501–3520), the Securities and
Exchange Commission (the
‘‘Commission’’) has submitted to the
Office of Management and Budget a
request for extension of the previously
approved collection of information
discussed below.
The federal securities laws generally
prohibit an issuer, underwriter, or
dealer from delivering a security for sale
unless a prospectus meeting certain
requirements accompanies or precedes
the security. Rule 154 (17 CFR 230.154)
under the Securities Act of 1933 (15
U.S.C. 77a) (the ‘‘Securities Act’’)
permits, under certain circumstances,
delivery of a single prospectus to
investors who purchase securities from
the same issuer and share the same
address (‘‘householding’’) to satisfy the
applicable prospectus delivery
requirements.1 The purpose of rule 154
is to reduce the amount of duplicative
prospectuses delivered to investors
sharing the same address.
Under rule 154, a prospectus is
considered delivered to all investors at
a shared address, for purposes of the
federal securities laws, if the person
relying on the rule delivers the
prospectus to the shared address,
addresses the prospectus to the
investors as a group or to each of the
investors individually, and the investors
consent to the delivery of a single
prospectus. The rule applies to
prospectuses and prospectus
supplements. Currently, the rule
permits householding of all
prospectuses by an issuer, underwriter,
or dealer relying on the rule if, in
addition to the other conditions set forth
in the rule, the issuer, underwriter, or
dealer has obtained from each investor
written or implied consent to
householding.2 The rule requires
issuers, underwriters, or dealers that
wish to household prospectuses with
implied consent to send a notice to each
investor stating that the investors in the
household will receive one prospectus
in the future unless the investors
provide contrary instructions. In
1 The Securities Act requires the delivery of
prospectuses to investors who buy securities from
an issuer or from underwriters or dealers who
participate in a registered distribution of securities.
See Securities Act sections 2(a)(10), 4(1), 4(3), 5(b)
(15 U.S.C. 77b(a)(10), 77d(1), 77d(3), 77e(b)); see
also rule 174 under the Securities Act (17 CFR
230.174) (regarding the prospectus delivery
obligation of dealers); rule 15c2–8 under the
Securities Exchange Act of 1934 (17 CFR 240.15c2–
8) (prospectus delivery obligations of brokers and
dealers).
2 Rule 154 permits the householding of
prospectuses that are delivered electronically to
investors only if delivery is made to a shared
electronic address and the investors give written
consent to householding. Implied consent is not
permitted in such a situation. See rule d 154(b)(4).

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