Federal Register / Vol. 75, No. 4 / Thursday, January 7, 2010 / Notices 1003 

1 44 U.S.C. 3501 et seq. 

2Pub. L. No. 106–102, 113 Stat. 1338 (1999). 

3See 15 U.S.C. 78q(i). 

4See Exchange Act Release No. 49831 (Jun. 8, 

2004), 69 FR 34472 (Jun. 21, 2004). 

5See H.R. Conf. Rep. No. 106–434, 165 (1999). 

See also Exchange Act Release No. 49831, at 6 (Jun. 

8, 2004), 69 FR 34472, at 34473 (Jun. 21, 2004). 

6 (900 hours + 100 hours) × 3 IBHCs/SIBHCs = 

3,000 hours. 

7An IBHC would be required to review and 

update its Notice of Intention to the extent it 

becomes inaccurate prior to a Commission 

determination, and an SIBHC would be required to 

update its Notice of Intention if it changes a 

mathematical model used to calculate its risk 

allowances pursuant to Rule 17i–7 after a 

Commission determination was made. 

8 (2 hours × 12 months each year) × 3 SIBHCs = 

72. 

9 (3,000 hours to file the Notices of Intention + 72 

hours to update them) = first year cost of 3,072. 

10 17 CFR 240.17i–5(b)(2). 11 5 U.S.C. 552(b)(3)(B). 

12 17 CFR 240.17i–2(d)(1). 

1 44 U.S.C. 3501 et seq. 

SECURITIES AND EXCHANGE 

COMMISSION 

Submission for OMB Review; 

Comment Request 

Upon Written Request, Copies Available 

From: U.S. Securities and Exchange 

Commission, Office of Investor 

Education and Advocacy, 

Washington, DC 20549–0213. 

Extension: Rule 17i–2, SEC File No. 270–528, 

OMB Control No. 3235–0592. 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 

1995 1 the Securities and Exchange 

Commission (‘‘Commission’’) has 

submitted to the Office of Management 

and Budget a request for extension of 

the previously approved collection of 

information discussed below. The Code 

of Federal Regulation citation to this 

collection of information is the 

following: 17 CFR 240.17i–2. 

Section 231 of the Gramm-LeachBliley Act of 1999 2 (the ‘‘GLBA’’) 

amended Section 17 of the Securities 

Exchange Act of 1934 (17 USC 78a et 

seq.) (‘‘the Exchange Act’’) to create a 

regulatory framework under which a 

holding company of a broker-dealer 

(‘‘investment bank holding company’’ or 

‘‘IBHC’’) may voluntarily be supervised 

by the Commission as a supervised 

investment bank holding company (or 

‘‘SIBHC’’).3 In 2004, the Commission 

promulgated rules, including Rule 17i– 

2, to create a framework for the 

Commission to supervise SIBHCs.4 This 

framework includes qualification 

criteria for SIBHCs, as well as 

recordkeeping and reporting 

requirements. Among other things, this 

regulatory framework for SIBHCs is 

intended to provide a basis for non-U.S. 

financial regulators to treat the 

Commission as the principal U.S. 

consolidated, home-country supervisor 5

for SIBHCs and their affiliated brokerdealers. 

Rule 17i–2 provides the method by 

which an IBHC can elect to become an 

SIBHC. In addition, Rule 17i–2 indicates 

that the IBHC will automatically become 

an SIBHC 45 days after the Commission 

receives its completed Notice of 

Intention unless the Commission issues 

an order indicating either that it will 

begin its supervision sooner or that it 

does not believe it to be necessary or 

appropriate in furtherance of Section 17 

of the Exchange Act for the IBHC to be 

so supervised. Finally, Rule 17i–2 sets 

forth the criteria the Commission would 

use to make this determination. 

The collections of information 

required by Rule 17i–2 are necessary to 

allow the Commission to effectively 

determine whether supervision of an 

IBHC as an SIBHC is necessary or 

appropriate in furtherance of the 

purposes of Section 17 of the Exchange 

Act. In addition, these collections are 

needed so that the Commission can 

adequately supervise the activities of 

these SIBHCs. Finally, these rules 

enhance the Commission’s supervision 

of the SIBHCs’ subsidiary broker-dealers 

through collection of additional 

information and inspections of affiliates 

of those broker-dealers. 

We estimate that three IBHCs will file 

Notices of Intention with the 

Commission to be supervised by the 

Commission as SIBHCs. Each IBHC that 

files a Notice of Intention to become 

supervised by the Commission as an 

SIBHC will require approximately 900 

hours to draft the Notice of Intention, 

compile the various documents to be 

included with the Notice of Intention, 

and work with the Commission staff. 

Further, each IBHC likely will have an 

attorney review its Notice of Intention, 

and it will take the attorney 

approximately 100 hours to complete 

such a review. Consequently, we 

estimate the total one-time burden for 

all three firms to file their Notices of 

Intention would be approximately 3,000 

hours.6 Rule 17i–2 also requires that an 

IBHC/SIBHC update its Notice of 

Intention on an ongoing basis.7 Each 

IBHC/SIBHC will require approximately 

two hours each month to update its 

Notice of Intention, as necessary. Thus, 

we estimate that it will take the three 

IBHC/SIBHCs, in the aggregate, about 72 

hours each year to update their Notices 

of Intention.8 Thus, the total burden 

relating to Rule 17i–2 for all SIBHCs 

would be approximately 3,072 hours in 

the first year,9 and approximately 72 

hours each year thereafter. 

The records required to be created 

pursuant to Rule 17i–2 must be 

preserved for a period of not less than 

three years.10 The collection of 

information is mandatory and the 

information required to be provided to 

the Commission pursuant to this Rule is 

deemed confidential pursuant to 

Section 17(j) of the Exchange Act and 

Section 552(b)(3)(B) of the Freedom of 

Information Act,11 notwithstanding any 

other provision of law. In addition, 

Exchange Act Rule 17i–2(d)(1) 12 states 

that all Notices of Intention, 

amendments, and other documentation 

and information filed pursuant to Rule 

17i–2 will be accorded confidential 

treatment to the extent permitted by 

law. 

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. 

Comments should be directed to: (i) 

Desk Officer for the Securities and 

Exchange Commission Office of 

Information and Regulatory Affairs, 

Office of Management and Budget, 

Room 10102, New Executive Office 

Building, Washington, DC 20503 or by 

sending an e-mail to: 

Shagufta_Ahmed@comb.eop.gov; and 

(ii) Charles Boucher, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Shirley 

Martinson, 6432 General Green Way, 

Alexandria, Virginia 22312 or send an email to PRA_Mailbox@sec.gov. 

Comments must be submitted to OMB 

within 30 days of this notice. 

Dated: December 30, 2009. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–3 Filed 1–6–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Submission for OMB Review; 

Comment Request; 

Upon Written Request, Copies Available 

From: U.S. Securities and Exchange 

Commission, Office of Investor 

Education and Advocacy, 

Washington, DC 20549–0213. 

Extension: Rule 17i–4, SEC File No. 270–530, 

OMB Control No. 3235–0594. 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 

1995 1 the Securities and Exchange 

Commission (‘‘Commission’’) has 

submitted to the Office of Management 

and Budget request for extension of the 

WReier-Aviles on DSKGBLS3C1PROD with NOTICES