60 Day Notice

3235-0498 2021-24427.pdf

Rule 17a-12; Reporting Requirements for OTC Derivatives Dealers.

60 Day Notice

OMB: 3235-0498

Document [pdf]
Download: pdf | pdf
Federal Register / Vol. 86, No. 214 / Tuesday, November 9, 2021 / Notices
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
estimates 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.
Please direct your written comments
to: David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o John R.
Pezzullo, 100 F Street NE, Washington,
DC 20549, or send an email to: PRA_
[email protected].
Dated: November 3, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–24428 Filed 11–8–21; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–442, OMB Control No.
3235–0498]

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

jspears on DSK121TN23PROD with NOTICES1

Extension:
Rule 17a–12/Form X–17A–5 Part II

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’’) is soliciting comments
on the existing collection of information
provided for in Rule 17a–12 (17 CFR
240.17a–12) and Part II of Form X–17A–
5 (17 CFR 249.617) 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–12 is the reporting rule
tailored specifically for over-the-counter

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Jkt 256001

(‘‘OTC’’) derivatives dealers registered
with the Commission, and Part II of
Form X–17A–5, the Financial and
Operational Combined Uniform Single
(‘‘FOCUS’’) Report, is the basic
document for reporting the financial
and operational condition of OTC
derivatives dealers. Rule 17a–12
requires registered OTC derivatives
dealers to file Part II of the FOCUS
Report quarterly. Rule 17a–12 also
requires that OTC derivatives dealers
file audited financial statements
(‘‘audited report’’) annually.
The reports required under Rule 17a–
12 provide the Commission with
information used to monitor the
operations of OTC derivatives dealers
and to enforce their compliance with
the Commission’s rules. These reports
also enable the Commission to review
the business activities of OTC
derivatives dealers and to anticipate,
where possible, how these dealers may
be affected by significant economic
events.
There are currently five registered
OTC derivatives dealers. The staff
expects that three of those firms will
register as Security-Based Swap Dealers
within the next three years and
therefore will no longer be subject to
Rule 17a–12. Thus, only two OTC
derivatives dealers will be subject to the
requirements of Rule 17a–12. The staff
estimates that the average amount of
time necessary to prepare and file the
quarterly reports required by the rule is
eighty hours per OTC derivatives
dealer 1 per year and that the average
amount of time to prepare and file the
annual audited report is 100 hours per
OTC derivatives dealer per year, for a
total reporting burden of 180 hours per
OTC derivatives dealer annually. Thus
the staff estimates that the total
industry-wide time burden to comply
with the requirements of Rule 17a–12 is
360 hours per year (180 × 2). The
Commission estimates that the average
annual cost per OTC derivatives dealer
for an independent public accountant to
examine the financial statements is
approximately $46,300 per OTC
derivatives dealer. Thus, the total
industry-wide annual cost burden is
approximately $92,600 ($46,300 × 2).
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
1 Based upon an average of 4 responses per year
and an average of 20 hours spent preparing each
response.

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62235

collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information to be 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
unless it displays a currently valid OMB
control number.
Please direct your written comments
to: David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o John R.
Pezzullo, 100 F Street NE, Washington,
DC 20549, or send an email to: PRA_
[email protected].
Dated: November 3, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–24427 Filed 11–8–21; 8:45 am]
BILLING CODE 8011–01–P

DEPARTMENT OF THE TREASURY
Community Development Financial
Institutions Fund
Funding Opportunities: Bank
Enterprise Award (BEA) Program; FY
2021 Funding Round; Correction
Community Development
Financial Institutions Fund, Department
of the Treasury.
ACTION: Notice; correction.
AGENCY:

The Community Development
Financial Institutions Fund (CDFI Fund)
published a document in the Federal
Register of October 14, 2021, concerning
the Notice of Funds Availability (NOFA)
inviting Applications for the Fiscal Year
(FY) 2021 Funding Round of the Bank
Enterprise Award Program (BEA
Program). On page 57256, in Table 2—
Eligibility Requirements for Applicants,
under the Criteria header for CDFI
Applicant, under the Description
header, it incorrectly states that an
eligible Certified CDFI Applicant is an
Insured Depository Institution that must
be certified as a CDFI as of December 31,
2020 when in fact an eligible Certified
CDFI Applicant is an Insured
Depository Institution that is certified or
has submitted a Certification
application by December 31, 2020, has
been Certified as a CDFI as of the
October 14, 2021 publication date of
this NOFA in the Federal Register, and

SUMMARY:

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