Federal Register / Vol. 75, No. 7 / Tuesday, January 12, 2010 / Notices 1663 

8 5 U.S.C. 552(b)(3)(B). 

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

2Pub. L. 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). 

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,8 notwithstanding any 

other provision of law. In addition, 

paragraph 17i–8(c) specifies that the 

notices and reports filed in accordance 

with Rule 17i–8 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: January 6, 2010. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–302 Filed 1–11–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Submission for OMB Review; 

Comment Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of Investor 

Education and Advocacy, 

Washington, DC 20549–0213. 

Extension: 

Rule 17Ad–13; SEC File No. 270–263; 

OMB Control No. 3235–0275. 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.), the Securities 

and Exchange Commission 

(‘‘Commission’’) has submitted to the 

Office of Management and Budget a 

request for approval of extension of the 

existing collection of information 

provided for Rule 17Ad–13 (17 CFR 

240.17Ad–13) under the Securities 

Exchange Act of 1934 (15 U.S.C. 78a et 

seq.) (‘‘Exchange Act’’). 

Rule 17Ad–13 requires approximately 

150 registered transfer agents to obtain 

an annual report on the adequacy of 

internal accounting controls. In 

addition, transfer agents must maintain 

copies of any reports prepared pursuant 

to Rule 17Ad–13 plus any documents 

prepared to notify the Commission and 

appropriate regulatory agencies in the 

event that the transfer agent is required 

to take any corrective action. These 

recordkeeping requirements assist the 

Commission and other regulatory 

agencies with monitoring transfer agents 

and ensuring compliance with the rule. 

Small transfer agents are exempt from 

Rule 17Ad–13. 

The staff estimates that the average 

number of hours necessary for each 

transfer agent to comply with Rule 

17Ad–13 is 120 hours annually. The 

total burden is 18,000 hours annually 

for transfer agents, based upon past 

submissions. The staff estimates that the 

average cost per hour is approximately 

$60. Therefore, the total cost of 

compliance for transfer agents is 

$1,080,000. 

The retention period for the 

recordkeeping requirement under Rule 

17Ad–13 is three years following the 

date of a report prepared pursuant to the 

rule. The recordkeeping requirement 

under Rule 17Ad–13 is mandatory to 

assist the Commission and other 

regulatory agencies with monitoring 

transfer agents and ensuring compliance 

with the rule. This rule does not involve 

the collection of confidential 

information. 

Please note that 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: (i) 

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 

e-mail to PRA_Mailbox@sec.gov. 

Comments must be submitted to OMB 

within 30 days of this notice. 

Dated: January 6, 2010. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–304 Filed 1–11–10; 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–5; SEC File No. 270–531; OMB 

Control No. 3235–0590. 

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 collections of 

information discussed below. The Code 

of Federal Regulations citation to this 

collection of information is the 

following rule: 17 CFR 240.17i–5. 

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

amended Section 17 of the Securities 

Exchange Act of 1934 (15 U.S.C. 78q) 

(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– 

5, 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 

for SIBHCs and their affiliated brokerdealers.5

Pursuant to Section 17(i)(3)(A) of the 

Exchange Act, an SIBHC would be 

required to make and keep records, 

WReier-Aviles on DSKGBLS3C1PROD with NOTICES

1664 Federal Register / Vol. 75, No. 7 / Tuesday, January 12, 2010 / Notices 

6 15 U.S.C. 78q(i)(3)(A). 

7We believe that an SIBHC would have a Senior 

Treasury Manager create this record. According to 

the Securities Industry and Financial Markets 

Association (‘‘SIFMA’’), the hourly cost of a Senior 

Treasury Manager is $230, as reflected in the 

SIFMA’s Report on Management and Professional 

Earnings for 2008 (‘‘SIFMA’s Report on Professional 

Earnings), and modified to account for an 1,800- 

hour work-year and multiplied by 5.35 to account 

for bonuses, firm size, employee benefits and 

overhead. ($230 × 40 hours) = $9,200. 

8We believe that an SIBHC would have a Floor 

Supervisor, or equivalent, create this record with an 

hourly cost of $195, as reflected in SIFMA’s Report 

on Professional Earnings’’). ($195 × 256) = $49,920. 

9On average, each firm presently maintains 

relationships with approximately 1,000 

counterparties. Further, firms generally already 

maintain documentation regarding their credit 

decisions, including their determination of credit 

risk weights, for those counterparties. We believe 

that an SIBHC would have an Intermediate 

Accountant create this record, which according to 

SIFMA’s Report on Professional Earnings receives 

an hourly rate of $141. ($141 × ((30 minutes × 20 

counterparties)/60 minutes) = $1,410. 

10We believe that an SIBHC would have a 

Programmer Analyst perform this task and 

according to SIFMA’s Report on Professional 

Earnings, a Programmer Analyst receives an hourly 

rate of $193. ($193 × 24) = $4,632. 

11 5 U.S.C. 552(b)(3)(B). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

furnish copies thereof, and make such 

reports as the Commission may require 

by rule.6 Rule 17i–5 requires that an 

SIBHC make and keep current certain 

records relating to its business. In 

addition, it requires that an SIBHC 

preserve those and other records for at 

least three years. 

The collections of information 

required pursuant to Rule 17i–5 are 

necessary so that the Commission can 

adequately supervise the activities of 

these SIBHCs. In addition, these 

collections of information are needed 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 the Act. Rule 17i– 

5 also enhances the Commission’s 

supervision of the SIBHCs’ subsidiary 

broker-dealers through collection of 

additional information and inspections 

of affiliates of those broker-dealers. 

Without this information and 

documentation, the Commission would 

be unable to adequately supervise an 

SIBHC, nor would it be able to 

determine whether continued 

supervision of an IBHC as an SIBHC 

were necessary and appropriate in 

furtherance of the purposes of Section 

17 of the Act. 

In addition to the one firm currently 

supervised by the Commission as a 

SIBHC, we estimate that 2 IBHCs will 

file Notices of Intention with the 

Commission to be supervised by the 

Commission as SIBHCs; for a total of 

three firms. An SIBHC will generally 

require about 40 hours to create and 

document a contingency plan regarding 

funding and liquidity of the affiliate 

group at a cost of $9,200 per SIBHC.7 An 

SIBHC will require, on average, 

approximately 64 hours each quarter to 

create a record regarding stress tests, or 

approximately 256 hours each year and 

a cost of $49,920.8 Further, an SIBHC 

will establish approximately 20 new 

counterparty arrangements each year, 

and will take, on average, about 30 

minutes to create a record regarding the 

basis for credit risk weights for each 

such counterparty for a cost of $1,410.9

Finally, an SIBHC will generally require 

about 24 hours per year to maintain the 

specified records for a cost of $4,632.10

We believe that an IBHC likely will 

upgrade its information technology 

(‘‘IT’’) systems in order to more 

efficiently comply with certain of the 

SIBHC framework rules (including 

Rules 17i–4, 17i–5, 17i–6 and 17i–7), 

and that this would be a one-time cost. 

Depending on the state of development 

of the IBHC’s IT systems, it would cost 

an IBHC between $1 million and $10 

million to upgrade its IT systems to 

comply with the SIBHC framework of 

rules. Thus, on average, it would cost 

each of the three IBHCs about $5.5 

million to upgrade their IT systems, or 

approximately $16.5 million in total. It 

is impossible to determine what 

percentage of the IT systems costs 

would be attributable to each Rule, so 

we allocated the total estimated upgrade 

costs equally (at 25% for each of the 

above-mentioned Rules), with 

$4,125,000 attributable to Rule 17i–5. 

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. 

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 

e-mail to PRA_Mailbox@sec.gov. 

Comments must be submitted to OMB 

within 30 days of this notice. 

Dated: January 6, 2010. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–303 Filed 1–11–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61292; File No. SR– 

NYSEAmex-2009–93] 

Self-Regulatory Organizations; NYSE 

Amex LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Amending Rule 452— 

NYSE Amex Equities and Section 723 

of the NYSE Amex Company Guide 

Regarding Broker Discretionary Voting 

for Election of Directors and on 

Material Amendments to Investment 

Advisory Contracts 

January 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 December 

23, 2009, NYSE Amex LLC (‘‘Exchange’’ 

or ‘‘NYSE Amex’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’ or ‘‘SEC’’) the proposed 

rule change as described in Items I and 

II below, which Items have been 

prepared by the self-regulatory 

organization. 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 Substance of 

the Proposed Rule Change 

The Exchange proposes to amend 

Rule 452—NYSE Amex Equities and 

Section 723 of the NYSE Amex 

Company Guide (the ‘‘Company Guide’’). 

The text of the proposed rule change is 

available at the Exchange, at the 

Commission’s Public Reference Room, 

on the Commission’s Web site at http:// 

www.sec.gov, and on the Exchange’s 

Web site at http://www.nyse.com. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

self-regulatory organization included 

statements concerning the purpose of, 

WReier-Aviles on DSKGBLS3C1PROD with NOTICES