74148 Federal Register / Vol. 75, No. 229 / Tuesday, November 30, 2010 / Notices 

3See: http://www.cftc.gov/stellent/groups/public/ 

@otherif/documents/ifdocs/ 

federalregister112210.pdf; and http://sec.gov/rules/ 

proposed/2010/34-63446.pdf. 

other numbering or identification 

schemes; 

(9) Be readily accessible using secure 

and open standards; 

(10) Be reliable and secure against 

corruption or misuse; and 

(11) Be capable of becoming the single 

international standard for unique 

identification of legal entities in the 

financial sector. 

B. Institutional Arrangements for 

Issuing LEIs 

A LEI acceptable for use with data 

reported to the Office should be issued 

by an entity with expertise in 

implementing standards for the 

financial sector. 

The entity should be organized and 

operated as a not-for-profit body and 

have a formally documented governance 

structure with balanced representation 

for relevant stakeholders. It should be 

subject to supervision and regulation. 

The entity should also have a strong 

ethics policy, addressing in part 

potential conflicts of interest. 

Issuance of LEIs must be timely and 

non-discriminatory. The process of 

issuing new LEIs must not materially 

hinder the normal course of an entity’s 

business. 

All of the entity’s processes must be 

adequately governed and auditable. 

Access to the master identifier list and 

the issuance process for new identifiers 

must be made available at all times. 

The security and reliability of all IT 

systems involved in identifier issuance 

and database maintenance and 

publication must meet or exceed 

industry standards for a real-time, highavailability market service. 

Identifiers must be available to the 

public without fees for storage, access, 

cross-referencing, or redistribution. 

However, consistent with OMB Circular 

No. A–119 Revised, the cost of issuing 

identifiers and maintaining their 

reliability may be recovered through 

other fees, as long as they are reasonable 

and they are not imposed on end-users. 

C. Institutional Arrangements for 

Developing, Maintaining, and 

Publishing LEI Reference Data 

A LEI acceptable for use with data 

reported to the Office should have a 

closely associated process for 

developing, maintaining and publishing 

related reference data for each LEI 

issued. 

The scope of the reference data 

provided for each LEI issued should be 

sufficient to verify that users have 

correctly identified an entity and should 

include at a minimum the following 

information for each identifier: 

(1) Name; 

(2) Location; 

(3) Electronic address; and 

(4) Legal status. 

The entity responsible for producing 

and publishing the LEI reference data 

should have expertise in this area. It 

must be operated on a not-for-profit 

basis and have a formally documented 

governance structure with balanced 

representation for relevant stakeholders. 

It should also be subject to supervision 

and regulation. 

The entity must have a robust quality 

assurance process. Updates to the LEI 

reference data should be accomplished 

with minimal lag time and market 

participants and regulators should be 

able to challenge entries and request 

amendments. The quality assurance 

process should seek to ensure that 

duplicate identification numbers are not 

erroneously assigned. The quality 

assurance process should also include 

checks for existing entities including 

name searches, address searches, and 

combinations of text strings and other 

characteristics. 

The entity’s processes should be 

adequately governed and auditable. The 

security and reliability of all IT systems 

involved in developing, maintaining, 

and publishing LEI reference data 

should meet or exceed industry 

standards for a real-time, high 

availability market service. Reference 

data must be available to the public 

without fees for storage, access, crossreferencing, or redistribution. However, 

consistent with OMB Circular No. A– 

119 Revised, the cost of developing, 

maintaining, and publishing LEI 

reference data may be recovered through 

other fees, as long as they are reasonable 

and they are not imposed on those who 

use the reference data. 

In addition, if a robust universal LEI 

is designated by the Office, under the 

principles outlined above for the 

purpose of reporting data to the Office, 

it is the expectation of the Office that 

such a LEI system, including the 

relevant reference data, would be the 

foundation for the financial company 

reference database that the Office would 

publish under the DFA section 

154(b)(2)(A)(i). 

D. Next Steps 

In the event that a universal LEI is 

established to the satisfaction of the 

Office by July 15, 2011, the Office, in 

consultation with the Chairperson of the 

Council, plans to issue a regulation 

mandating the use of such a standard for 

data reported to the Office. Further, the 

Office will publish in the Federal 

Register, no later than 60 days prior to 

the earlier of the implementation dates 

established by the CFTC and SEC for 

their new reporting requirements,3 the 

name of the identification system 

approved by the Office, the name and 

contact information of the entity 

through which counterparties can 

obtain LEIs provided through the 

approved identification system, and 

information concerning the procedure 

and requirements for obtaining such a 

LEI. 

The Office invites comments on all 

aspects of this statement of policy, 

including but not limited to the desired 

characteristics for LEI and the 

institutional arrangements for issuing 

and maintaining identifiers and 

associated reference data. 

Dated: November 23, 2010. 

Lewis Alexander, 

Counselor to the Secretary. 

[FR Doc. 2010–30018 Filed 11–29–10; 8:45 am] 

BILLING CODE 4810–25–P 

DEPARTMENT OF THE TREASURY 

Bureau of the Public Debt 

Proposed Collection: Comment 

Request 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of the 

Treasury, as part of its continuing effort 

to reduce paperwork and respondent 

burden, invites the general public and 

other Federal agencies to take this 

opportunity to comment on proposed 

and/or continuing information 

collections, as required by the 

Paperwork Reduction Act of 1995, 

Public Law 104–13 (44 U.S.C. 

3506(c)(2)(A)). Currently the Bureau of 

the Public Debt within the Department 

of the Treasury is soliciting comments 

concerning the U.S. Treasury Auction 

Submitter Agreement. 

DATES: Written comments should be 

received on or before February 1, 2011, 

to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Bureau of the Public Debt, Robert 

Schumacher, 200 Third Street, A4–A, 

Parkersburg, WV 26106–5312, or 

Robert.Schumacher@bpd.treas.gov. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the form and instructions 

should be directed to Robert 

Schumacher, Bureau of the Public Debt, 

200 Third Street, A4–A, Parkersburg, 

WV 26106–5312, (304) 480–8150. 


jdjones on DSK8KYBLC1PROD with NOTICES
Federal Register / Vol. 75, No. 229 / Tuesday, November 30, 2010 / Notices 74149 

SUPPLEMENTARY INFORMATION: 

Title: U.S. Treasury Auctions 

Submitter Agreement. 

OMB Number: 1535–0137. 

Form Number: PD F 5441. 

Abstract: The information is 

requested from entities wishing to 

participate in U.S. Treasury Securities 

Auctions via TAAPSLink. 

Current Actions: None. 

Type of Review: Extension. 

Affected Public: Depository 

Institutions, Brokers/Dealers, 

Assessment Management Companies, 

Pension Funds, and other Institutional 

Investors. 

Estimated Number of Respondents: 

1,000. 

Estimated Time Per Respondent: 5 

minutes. 

Estimated Total Annual Burden 

Hours: 80. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for OMB approval. All 

comments will become a matter of 

public record. Comments are invited on: 

(a) Whether the collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information shall have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (c) ways to enhance the 

quality, utility, and clarity of the 

information to be collected; (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; and (e) estimates of capital 

or start-up costs and costs of operation, 

maintenance, and purchase of services 

to provide information. 

Dated: November 22, 2010. 

Robert Schumacher, 

Manager, Information Management Branch. 

[FR Doc. 2010–30056 Filed 11–29–10; 8:45 am] 

BILLING CODE 4810–39–P 


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