69514 Federal Register / Vol. 75, No. 218 / Friday, November 12, 2010 / Notices 

85 15 U.S.C. 78s(b)(2). 86 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3The text of the proposed rule change is attached 

as Exhibit 5 to DTC’s filing, which is available at 

http://www.dtcc.com/downloads/legal/rule_filings/ 

2010/dtc/2010-14.pdf. 

4The Commission has modified the text of the 

summaries prepared by NSCC. 

5The amendment was the subject of a DTC 

proposed rule change approved by the Commission. 

Securities Exchange Act No. 34–41529 (June 15, 

1999), 64 FR 33333 (June 22, 1999) [File No. SR– 

DTC–1999–08]. The amendment was also approved 

by the New York State Superintendent of Banks. 

6Securities Exchange Release Nos. 34–43197 

(August 23, 2000), 65 FR 52459 (August 29, 2000) 

[File No. SR–DTC–2000–02]; 34–54775 (November 

17, 2006), 71 FR 68662 (November 27, 2006) [SR– 

DTC–2006–14]; 34–59612 (March 20, 2009), 74 FR 

13488 (March 27, 2009) [File No. SR–DTC–2009– 

06]. 

7 DTC, as a member institution of the Federal 

Reserve System, is subject to capital guidelines 

issued by the Board of Governors of the Federal 

Reserve System. To be considered ‘‘wellcapitalized’’ under these guidelines, DTC must, 

among other things, maintain a Total Risk-Based 

Capital Ratio of at least 10%, a Leverage Ratio of 

at least 5%, and a Tier 1 Risk-Based Capital Ratio 

of at least 6%. The issuance of the additional Series 

A preferred stock will enable DTC to continue to 

meet these requirements. 

8 In order to amend its Certificate of Organization 

to increase the authorized preferred stock, DTC is 

also required to seek approval from the New York 

State Banking Department. DTC has sought such 

approval concurrently with this rule filing. On 

October 20, 2010, DTC’s sole stockholder, The 

Depository Trust & Clearing Corporation, 

authorized DTC to make this amendment, as 

required by Section 8003 of the Banking Law of the 

State of New York. 

9The authorization of an additional 1,750,000 

shares will increase the number of authorized 

shares of Preferred Stock and of Series A Preferred 

stock to a total of 3,250,000 shares with a par value 

of $100 per share and a total value of $325 million. 

VII. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,85 that the 

proposed rule change (SR–FINRA– 

2010–034), as modified by Amendments 

No. 1 and 2, be, and hereby is, approved 

on an accelerated basis. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.86

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–28444 Filed 11–10–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63254; File No. SR–DTC– 

2010–14] 

Self-Regulatory Organizations; The 

Depository Trust Company; Notice of 

Filing of Proposed Rule Change To 

Amend the Certificate of Organization 

To Authorize Additional Shares of 

Preferred Stock and Designate Shares 

as Series A Preferred Stock 

November 5, 2010. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–4 thereunder 2

notice is hereby given that on October 

22, 2010, The Depository Trust 

Company (‘‘DTC’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

primarily by DTC.3 The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of the Substance 

of the Proposed Rule Change 

The purpose of this proposed rule 

change is to amend DTC’s Certificate of 

Organization to authorize an additional 

1,750,000 shares of preferred stock and 

to designate such shares as Series A 

preferred stock. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

DTC included statements concerning 

the purpose of and basis for the 

proposed rule change and discussed any 

comments it received on the proposed 

rule change. The text of these statements 

may be examined at the places specified 

in Item IV below. DTC has prepared 

summaries, set forth in sections (A), (B), 

and (C) below, of the most significant 

aspects of these statements.4

(A) Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In 1999, DTC’s Certificate of 

Organization was amended (‘‘1999 

Amendment’’) to provide for the 

authorization and issuance of 1,500,000 

shares of preferred stock, par value $100 

per share.5 The 1999 Amendment also 

provided that the preferred stock could 

be issued in one or more classes having 

such designations, relative rights, 

preferences, or limitation as fixed by the 

Board of Directors of DTC at the time of 

issuance of any such preferred stock. 

DTC’s Certificate of Organization has 

been amended three times thereafter to 

provide for the issuance of variable rate, 

noncumulative, nonvoting shares of 

Series A preferred stock, par value $100 

per share, which are preferred over 

DTC’s common stock as to dividends 

and in the event of liquidation (‘‘Series 

A Preferred Stock’’). The first such 

amendment (filed in 2000) provided for 

the issuance of 750,000 shares of the 

Series A Preferred Stock. The second 

amendment (filed in 2006) provided for 

the issuance of an additional 500,000 

shares of Series A Preferred Stock. The 

third amendment (filed in 2009) 

provided for the issuance of an 

additional 250,000 shares of Series A 

Preferred Stock.6

DTC participants are required to 

purchase and own shares of the Series 

A Preferred Stock in proportion to their 

use of DTC services. DTC treats the 

Series A Preferred Stock held by 

participants substantially the same as it 

treats the mandatory cash deposits made 

by participants to the Participants Fund 

for purposes of collateralizing securities 

transactions, limiting net debit 

positions, implementing default 

procedures, and allocating unrecovered 

losses. 

In order that DTC may further 

increase its capital,7 DTC is proposing 

to amend its Certificate of Organization 8

to authorize an additional 1,750,000 

shares of preferred stock at the par value 

of $100 per share and to designate such 

shares as Series A Preferred Stock with 

such rights, preferences, and limitations 

as provided in its Certificate of 

Organization.9

The proposed rule change is 

consistent with the requirements of the 

Securities Exchange Act of 1934, as 

amended, (‘‘Act’’) and the rules and 

regulations thereunder applicable to 

DTC, as well as CPSS/IOSCO 

Recommendations for Securities 

Settlement Systems applicable to DTC 

because the proposed rule change will 

not affect the safeguarding of securities 

and funds in DTC’s custody or control 

or for which it is responsible. 

(B) Self-Regulatory Organization’s 

Statement on Burden on Competition 

DTC does not believe that the 

proposed rule change would impose any 

burden on competition. 

(C) Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

Written comments relating to the 

proposed rule change have not been 

solicited or received. DTC will notify 

the Commission of any written 

comments received by DTC. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within forty-five days of the date of 

publication of this notice in the Federal 

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Federal Register / Vol. 75, No. 218 / Friday, November 12, 2010 / Notices 69515 

10 17 CFR 200.30–3(a)(12). 

Register or within such longer period (i) 

as the Commission may designate up to 

ninety days of such date if it finds such 

longer period to be appropriate and 

publishes its reasons for so finding or 

(ii) as to which the self-regulatory 

organization consents, the Commission 

will: 

(A) By order approve or disapprove 

the proposed rule change; or 

(B) institute proceedings to determine 

whether the proposed rule change 

should be disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–DTC–2010–14 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–DTC–2010–14. This file 

number should be included on the 

subject line if e-mail is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for Web site viewing and 

printing in the Commission’s Public 

Reference Section, 100 F Street, NE., 

Washington, DC 20549–1090, on official 

business days between the hours of 10 

a.m. and 3 p.m. Copies of such filings 

will also be available for inspection and 

copying at the principal office of DTC 

and on DTC’s Web site at http:// 

www.dtcc.com/downloads/legal/ 

rule_filings/2010/nscc/2010-11.pdf. All 

comments received will be posted 

without change; the Commission does 

not edit personal identifying 

information from submissions. You 

should submit only information that 

you wish to make available publicly. All 

submissions should refer to File 

Number SR–DTC–2010–14 and should 

be submitted on or before December 3, 

2010. 

For the Commission by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–28442 Filed 11–10–10; 8:45 am] 

BILLING CODE 8011–01–P 

SOCIAL SECURITY ADMINISTRATION 

Agency Information Collection 

Activities: Proposed Request 

The Social Security Administration 

(SSA) publishes a list of information 

collection packages requiring clearance 

by the Office of Management and 

Budget (OMB) in compliance with 

Public Law (Pub. L.) 104–13, the 

Paperwork Reduction Act of 1995, 

effective October 1, 1995. This notice 

includes revisions to OMB-approved 

information collections. 

SSA is soliciting comments on the 

accuracy of the agency’s burden 

estimate; the need for the information; 

its practical utility; ways to enhance its 

quality, utility, and clarity; and ways to 

minimize burden on respondents, 

including the use of automated 

collection techniques or other forms of 

information technology. Mail, e-mail, or 

fax your comments and 

recommendations on the information 

collection(s) to the OMB Desk Officer 

and SSA Reports Clearance Officer at 

the following addresses or fax numbers. 

(OMB) 

Office of Management and Budget, 

Attn: Desk Officer for SSA, Fax: 202– 

395–6974, E-mail address: 

OIRA_Submission@omb.eop.gov. 

(SSA) 

Social Security Administration, 

DCBFM, Attn: Reports Clearance 

Officer, 1333 Annex Building, 6401 

Security Blvd., Baltimore, MD 21235, 

Fax: 410–965–6400, E-mail address: 

OPLM.RCO@ssa.gov. 

The information collections below are 

pending at SSA. SSA will submit them 

to OMB within 60 days from the date of 

this notice. To be sure we consider your 

comments, we must receive them no 

later than January 11, 2011. Individuals 

can obtain copies of the collection 

instruments by calling the SSA Reports 

Clearance Officer at 410–965–8783 or by 

writing to the above email address. 

1. Reporting Events-SSI—20 CFR 

416.701–416.732—0960–0128. 

Supplemental Security Income (SSI) 

applicants, recipients, or their 

representative payees must report any 

change in circumstances that could 

affect eligibility for SSI payments or the 

payment amount. SSA uses Form SSA– 

8150 for this purpose. The information 

assists us in determining if we should 

continue SSI payments or change a 

payment amount. The respondents are 

applicants for or recipients of SSI 

payments, or their representative 

payees. 

Type of Request: Revision of an OMBapproved information collection. 

Number of Respondents: 27,320. 

Frequency of Response: 1. 

Average Burden per Response: 5 

minutes. 

Estimated Annual Burden: 2,277 

hours. 

2. Request for Review of Hearing 

Decision/Order—20 CFR 404.967– 

404.981, 416.1467–416.1481—0960– 

0277. Claimants have a statutory right 

under the Social Security Act and 

implementing regulations to request 

review of an administrative law judge’s 

(ALJ) hearing decision or dismissal of a 

hearing request on Title II and Title XVI 

claims. Claimants may request Appeals 

Council review by filing a written 

request using Form HA–520. SSA uses 

the information to establish the claimant 

filed her or his request for review within 

the prescribed time and to ensure the 

claimant completed the requisite steps 

permitting the Appeals Council review. 

The Appeals Council uses the 

information to: (1) Document the 

claimant’s reason(s) for disagreeing with 

the ALJ’s decision or dismissal; 

(2) determine whether the claimant has 

additional evidence to submit; and 

(3) determine whether the claimant has 

a representative or wants to appoint 

one. The respondents are claimants 

requesting review of an ALJ’s decision 

or dismissal of hearing. 

Type of Request: Revision of an OMBapproved information collection. 

Number of Respondents: 145,000. 

Frequency of Response: 1. 

Average Burden per Response: 10 

minutes. 

Estimated Annual Burden: 24,167 

hours. 

3. Development for Participation in a 

Vocational Rehabilitation or Similar 

Program—20 CFR 404.316(c), 

404.337(c), 404.352(d), 404.1586(g), 

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