202 Federal Register / Vol. 76, No. 1 / Monday, January 3, 2011 / Notices 

1 15 U.S.C. 78s(b)(7). 

2 17 CFR 240.19b–7. 

3See Letter from Thomas W. Sexton III, Senior 

Vice President/General Counsel, NFA, to William 

Penner, Deputy Directory, CFTC (Oct. 6, 2010). 

4See Letter from William Penner, Deputy 

Director, CFTC, to Thomas W. Sexton III, General 

Counsel, NFA (Oct. 20, 2010). 

5 15 U.S.C. 78o–3(k). 

6 15 U.S.C. 78o(b)(11). 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63602; File No. SR–NFA– 

2010–04] 

Self-Regulatory Organizations; 

National Futures Association; Notice 

of Filing and Immediate Effectiveness 

of Proposed Amendments, as Modified 

by Amendment No. 1 Thereto, to the 

Interpretive Notice Regarding NFA 

Compliance Rule 2–9: Enhanced 

Supervisory Requirements 

December 22, 2010. 

Pursuant to Section 19(b)(7) of the 

Securities Exchange Act of 1934 

(‘‘Exchange Act’’),1 and Rule 19b–7 

under the Exchange Act,2 notice is 

hereby given that on October 7, 2010, 

National Futures Association (‘‘NFA’’) 

filed with the Securities and Exchange 

Commission (‘‘SEC’’ or ‘‘Commission’’) 

the proposed rule change described in 

Items I, II, and III below, which Items 

have been substantially prepared by the 

NFA. On December 7, 2010, NFA filed 

Amendment No. 1 to the proposed rule 

change. The Commission is publishing 

this notice to solicit comments on the 

proposed rule change from interested 

persons. NFA also has filed this 

proposed rule change with the 

Commodity Futures Trading 

Commission (‘‘CFTC’’). 

On October 6, 2010, NFA requested 

that the CFTC make a determination 

that review of the proposed rule change 

of NFA is not necessary.3 On October 

20, 2010, the CFTC notified NFA that it 

had determined not to review the 

proposed rule change.4

I. Self-Regulatory Organization’s 

Description and Text of the Proposed 

Rule Change 

The proposed amendments to NFA 

Compliance Rule 2–9’s Interpretive 

Notice entitled ‘‘Enhanced Supervisory 

Requirements’’ (‘‘Notice’’) would provide 

limited relief for some Members that 

currently would qualify for the 

enhanced supervisory requirements 

(‘‘Requirements’’) based on a firm 

principal’s previous affiliation with 

another Member firm that was subject to 

the Requirements; makes changes to the 

enhanced capital requirements in light 

of a recent increase in the futures 

commission merchant (‘‘FCM’’) 

minimum capital requirement; makes 

changes to deal with the enhanced 

capital requirements for commodity 

pool operators (‘‘CPOs’’) and commodity 

trading advisors (‘‘CTAs’’) in a manner 

more consistent with the nature of their 

business; requires specific items to be 

included in a firm’s written supervisory 

procedures; requires quarterly rather 

than monthly reports on a firm’s 

compliance with the Requirements; and 

includes clarifying language in three 

areas: (1) Charging abnormally high 

commissions and fees; (2) the effect that 

receiving a waiver has on determining 

whether a Member is a firm that has met 

the criteria for future situations 

involving the Requirements; and (3) the 

status of a ‘‘five year’’ Disciplined Firm 

after it has been dropped from the ‘‘five 

year’’ list. 

The text of the Interpretive Notice is 

available on NFA’s Web site at http:// 

www.nfa.futures.org, the Commission’s 

Web site at http://www.sec.gov, the selfregulatory organization’s office, and at 

the Commission’s Public Reference 

Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for the Proposed Rule 

Change 

In its filing with the Commission, 

NFA 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. NFA has prepared 

summaries, set forth in sections A, B, 

and C below, of the most significant 

aspects of such statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for the Proposed Rule 

Change 

1. Purpose 

Section 15A(k) of the Exchange Act 5

makes NFA a national securities 

association for the limited purpose of 

regulating the activities of NFA 

Members (‘‘Members’’) who are 

registered as brokers or dealers under 

Section 15(b)(11) of the Exchange Act.6

The Interpretive Notice entitled: ‘‘NFA 

Compliance Rule 2–9: Enhanced 

Supervisory Requirements’’ applies to 

all Members, including those who are 

registered as security futures brokers or 

dealers under Section 15(b)(11) of the 

Exchange Act. 

Member firms trigger the 

Requirements based upon the regulatory 

background of either their associated 

persons (‘‘APs’’) or principals. Member 

firms triggering the Requirements must 

record all telephone conversations with 

customers and prospects, pre-submit 

promotional material, adopt written 

supervisory procedures and either 

operate under a guarantee agreement or 

maintain an enhanced capital level. The 

proposed amendments to the Notice 

include: 

• Limited relief for some Members 

that would currently qualify for the 

Requirements based on a firm 

principal’s previous affiliation with 

another Member firm that was subject to 

the Requirements; 

• Changes to the enhanced capital 

requirements in light of a recent 

increase in the FCM minimum capital 

requirement; 

• Changes to deal with the enhanced 

capital requirements for CPOs and CTAs 

in a manner more consistent with the 

nature of their business; 

• Requiring specific items to be 

included in a firm’s written supervisory 

procedures; 

• Requiring quarterly rather than 

monthly reports on a firm’s compliance 

with the Requirements; and 

• Clarifying language regarding: (1) 

Charging abnormally high commissions 

and fees; (2) the effect that receiving a 

waiver has on future situations 

involving the Requirements; and (3) the 

status of a ‘‘five year’’ Disciplined Firm 

after it has been dropped from the ‘‘five 

year’’ list. 

Historically, a Member would trigger 

the Requirements only if it had a 

defined percentage of APs who had 

previously worked for a Disciplined 

Firm. 

In 2005, NFA’s Board made revisions 

to the Notice after recognizing that the 

principals of several firms that had 

triggered the Requirements had avoided 

them by simply closing their firms and 

opening other firms that had a mix of 

APs that did not trigger the 

Requirements. NFA noted that the new 

firms typically had APs from the closed 

firm who had worked at Disciplined 

Firms, but their percentage ratios to the 

overall AP population of the new firms 

were below the triggering point for 

imposing the Requirements. NFA’s 

Board addressed this issue by amending 

the Notice to provide that once a firm 

had triggered the Requirements, then 

any other firms of which the principals 

of the qualifying firm are also principals 

would become subject to the 

Requirements. 

NFA believes that the 2005 revision 

has been generally effective in 

discouraging the practice of sham 

reorganizations to avoid the 

Requirements. However, NFA has found 


jlentini on DSKJ8SOYB1PROD with NOTICES
Federal Register / Vol. 76, No. 1 / Monday, January 3, 2011 / Notices 203 

that there were some principals whose 

firms triggered the Requirements with 

backgrounds that suggested they were 

not part of the population to which the 

amendment was designed to apply. NFA 

undertook the task of identifying 

objective criteria that were met by 

individuals who did not appear to be 

part of the target group but were, 

nevertheless, affected by the 2005 

amendment. In doing so, NFA focused 

on criteria similar to those that have 

been adopted to provide exemptions to 

some APs who previously worked at 

Disciplined Firms. These criteria 

include a clean personal regulatory 

record and limited affiliation with 

potentially problematic Members. 

NFA has identified a set of five 

criteria that apply to approximately 60 

individuals and approximately five 

entities that do not appear to raise 

undue concerns regarding their ability 

to effectively supervise their firms. 

Those criteria include the following: 

• The principal has not been 

personally subject to a disciplinary 

action by NFA or the CFTC; 

• The principal has been a principal 

of only one firm that has qualified for 

the Requirements; 

• The principal has never been a 

principal or an AP of a current 

Disciplined Firm; 

• The firm in the principal’s history 

that triggered the Requirements either 

received a full waiver from the 

Requirements or abided by the 

Requirements for at least two years and 

is no longer subject to the Requirements; 

and 

• The firm in the principal’s history 

that triggered the Requirements has not 

become subject to a sales practice action 

since triggering the Requirements. 

NFA believes that exempting 

Members from adopting the 

Requirements when those Requirements 

are triggered by a principal who meets 

the aforementioned five criteria would 

eliminate the need for some waiver 

petitions (which are typically granted), 

saving time and undue complications 

for the affected Members, the 

Telemarketing Procedures Waiver 

Committee (‘‘Waiver Committee’’) and 

NFA staff. NFA believes that this 

exemption could provide relief to 

certain principals whose profiles 

indicate that they are unlikely to pose 

any supervisory issues. In addition, 

NFA does not believe that this change 

will diminish customer protection 

because the principals that will be 

exempted are those principals who 

would almost always have been granted 

a waiver based on meeting the 

aforementioned criteria. 

The Notice currently provides that 

FCMs affected by the Notice are 

required to maintain adjusted net 

capital (‘‘ANC’’) of at least $1,000,000. 

When this provision was adopted the 

minimum ANC level was $500,000. 

However, the minimum ANC for all 

FCMs was raised to $1,000,000 in March 

2010, rendering the current provision 

moot. 

NFA proposes to revise the language 

in the Notice regarding the enhanced 

level of ANC required to be maintained 

by affected FCMs to tie the required 

enhanced ANC to the minimum ANC 

for FCMs. The proposed amendments 

would track the approach taken by the 

Board in 2008 to deal with changes to 

the enhanced ANC provision for Forex 

Dealer Members (‘‘FDMs’’). Specifically, 

rather than set a defined number, it 

would tie the enhanced ANC level for 

FCMs to the early warning requirement 

under CFTC rules, which is currently 

150% of required ANC. NFA believes 

that this revision would not only bring 

the current enhanced ANC obligation 

into harmony with that required of 

FDMs, but would also provide 

flexibility in light of any future changes 

to the level of the minimum ANC 

required of FCMs. 

The Notice currently requires CPOs 

and CTAs that trigger the Requirements 

to maintain ANC of at least $250,000. In 

addition, affected CPOs and CTAs are 

currently subject to the financial 

recordkeeping and reporting 

requirements applicable to FCMs. 

According to NFA, it is relatively 

uncommon for CPOs and CTAs to 

qualify for the Requirements, and if 

CPOs and CTAs do qualify, they often 

request relief from the $250,000 capital 

requirement even if they are required to 

tape. The Waiver Committee has dealt 

with ten waiver petitions from CPO or 

CTA Members and completely denied 

five of those petitions. Four of those 

firms are no longer NFA Members. The 

other five received partial waivers that 

reduced the enhanced ANC 

requirement. Two waivers set the 

required ANC level at $100,000, two set 

it at $75,000, and one eliminated the 

obligation altogether. Three of the five 

firms that received waivers remain NFA 

Members. In granting these petitions, 

the Waiver Committee recognized that 

because CPOs and CTAs do not have a 

minimum net capital requirement, 

imposing the reduced $100,000 

requirement was sufficient to meet the 

purpose of the requirement. 

In light of the Waiver Committee’s 

past decisions regarding this issue, NFA 

proposes to amend the Notice to reduce 

the ANC required of CPOs and CTAs 

that trigger the Requirements from the 

current $250,000 to $100,000. In 

addition, the proposed amendments to 

the Notice would provide that the 

financial recordkeeping and reporting 

obligations of affected CPOs and CTAs 

be simplified by merely requiring them 

to demonstrate compliance with their 

enhanced ANC obligation to NFA upon 

request. 

The proposed amendments to the 

Notice identify specific areas that would 

need to be addressed by an affected 

Member in the written supervisory 

procedures they are required to prepare. 

NFA believes that this addition will give 

clear guidance as to the minimum 

standards to be met in preparing written 

supervisory procedures. Generally, the 

proposed language requires procedures 

for monitoring, cataloging and logging 

taped conversations in an affected 

Member’s written supervisory 

procedures. 

The Notice currently requires affected 

Members to file monthly reports 

regarding their compliance with the 

Requirements. It has been NFA’s 

experience in reviewing these reports 

that most of them tend to be repetitious 

in nature. Nevertheless, NFA feels that 

the reports are useful in that they 

periodically bring the Member’s focus to 

bear on the Requirements, create a 

written historical record and, on 

occasion, may provide the impetus for 

corrective action by the Member. NFA 

proposes to change the frequency of the 

obligation to file such reports from 

monthly to quarterly. NFA believes that 

lengthening the frequency for filing the 

reports will not in any way diminish 

customer protection because the reports 

alone do not typically form the basis of 

an NFA investigation or disciplinary 

action. Moreover, NFA uses other 

methods to monitor Member 

compliance with the Requirements. 

Members that charge 50% or more of 

their active customers round-turn 

commissions, fees and other charges 

that total $100 or more per futures, forex 

or option contract are required to adopt 

the Requirements. NFA represents that 

it has recently encountered situations in 

which Members purchase out-of-themoney options and charge a 

commission just short of $100. In these 

situations there are additional charges if 

the option is liquidated that would 

bring total charges above $100; however, 

NFA believes that it is often the case 

that the out-of-the-money options expire 

worthless and no additional costs are 

assessed. The result is that some 

Members are able to avoid the 

Requirements by encouraging their 

customers to take on riskier out-of-themoney positions that are less likely to 


jlentini on DSKJ8SOYB1PROD with NOTICES
204 Federal Register / Vol. 76, No. 1 / Monday, January 3, 2011 / Notices 

7 15 U.S.C. 78o–3(k)(2)(D). 

8 7 U.S.C. 21. 

incur liquidation charges that would 

raise costs to $100 or more. 

Members that engage in the practice 

described above are, in NFA’s view, 

clearly within the group of Members 

that the Board believed should be 

subject to the Requirements when it 

chose to use high commissions and fees 

as a trigger for imposing the 

Requirements. Therefore, the proposed 

amendments to the Notice provide that 

trading an options contract that would 

result in total commissions, fees and 

other charges of $100 or more if the 

trade was liquidated will be deemed to 

have been charged $100 even if the 

contract is not ultimately liquidated. 

The proposed amendments to the 

Notice would add language that NFA 

believes would clarify that a Member 

that receives a full or partial waiver is 

still deemed to be a Member that has 

met the criteria for purposes of the 

Notice. 

From 1993 until 2007, the term 

‘‘Disciplined Firm’’ included only 

Members that had been permanently 

barred from the industry as the result of 

a sales practice or promotional material 

action. In 2007, the amendments to the 

Notice added Members that had been 

sanctioned in any way in a sales 

practice or promotional material action 

within the preceding five years to the 

definition of a Disciplined Firm. This 

resulted in the creation of a list of ‘‘five 

year’’ Disciplined Firms that is separate 

from the list of permanent Disciplined 

Firms. The electronic reporting system 

that monitors Disciplined Firms 

automatically removes these firms from 

the Disciplined Firm list once five years 

have passed. 

According to NFA, there has been 

some confusion expressed as to whether 

a ‘‘five year’’ Disciplined Firm is still 

considered to be a Disciplined Firm for 

purposes of triggering the Requirements 

once the firm is dropped from the ‘‘five 

year’’ list. NFA believes that the 

proposed amendments to the Notice 

would eliminate this confusion by 

simply adding the word ‘‘current’’ before 

the term ‘‘Disciplined Firm’’ in four 

relevant places in Section III (B)(1) of 

the Notice. 

Amendments to the Interpretive 

Notice regarding NFA Compliance Rule 

2–9: Enhanced Supervisory 

Requirements were previously filed 

with the SEC in SR–NFA–2003–01, 

Exchange Act Release No. 34–47533 

(Mar. 19, 2003), 68 FR 14733 (Mar. 26, 

2003); SR–NFA–2005–01, Exchange Act 

Release No. 34–52808 (Nov. 18, 2005), 

70 FR 71347 (Nov. 28, 2005); SR–NFA– 

2006–01, Exchange Act Release No. 34– 

53568 (Mar. 29, 2006), 71 FR 16850 

(Apr. 4, 2006); SR–NFA–2007–03, 

Exchange Act Release No. 34–55710 

(May 4, 2007), 72 FR 26858 (May 11, 

2007); SR–NFA–2007–07, Exchange Act 

Release No. 34–57142 (Jan. 14, 2008), 73 

FR 3502 (Jan. 18, 2008); and SR–NFA– 

2008–01, Exchange Act Release No. 34– 

57640 (Apr. 9, 2008), 73 FR 20341 (Apr. 

15, 2008). 

2. Statutory Basis 

NFA believes that the proposed rule 

change is authorized by, and consistent 

with, Section 15A(k)(2)(B) of the 

Exchange Act.7 That section sets out 

requirements for rules of futures 

associations, registered under Section 

17 of the Commodity Exchange Act,8

that are a registered national securities 

association for the limited purpose of 

regulating the activities of members who 

are registered as brokers or dealers in 

security futures products pursuant to 

Section 15(b)(11) of the Exchange Act. 

Under Section 15A(k)(2)(B), the rules of 

such a limited purpose national 

securities association must be designed 

to prevent fraudulent and manipulative 

acts and practices, to promote just and 

equitable principles of trade, and, in 

general, to protect investors and the 

public interest, including rules 

governing sales practices and the 

advertising of security futures products 

reasonably comparable to the rules of a 

registered national securities association 

applicable to security futures products. 

NFA believes the proposed rule change 

would meet these requirements by: 

Providing limited relief for some 

Members that would currently qualify 

for the Requirements based on a 

principal’s previous affiliation with 

another Member firm that was subject to 

the Requirements; changing the 

enhanced capital requirements in light 

of a recent increase in the FCM 

minimum capital requirement; changing 

the enhanced capital requirements for 

CPOs and CTAs in a manner more 

consistent with the nature of their 

business; requiring specific items to be 

included in a firm’s written supervisory 

procedures; requiring quarterly rather 

than monthly reports on a firm’s 

compliance with the Requirements; and 

clarifying language regarding—charging 

abnormally high commissions and fees; 

the effect that receiving a waiver has on 

determining whether a Member is a firm 

that has met the criteria for futures 

situation involving the Requirements; 

and the status of a ‘‘five year’’ 

Disciplined Firm after it has been 

dropped from the ‘‘five year’’ list. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

NFA believes that the portion of the 

proposed rule change that exempts 

Members from adopting the 

Requirements when those Requirements 

are triggered by a principal who meets 

the specified five criteria should lessen 

the burden on competition by 

eliminating the need for waiver requests 

that are typically granted and decreasing 

the number of firms that are subject to 

the requirement by automatically 

exempting firms that qualify based on 

principals whose profiles indicate that 

they are unlikely to pose supervisory 

problems. 

NFA does not believe that the 

proposed changes to CPO and CTA 

capital requirements and reporting 

requirements for firms that trigger the 

Requirements would impose any burden 

on competition. 

Although the proposed rule change 

would require FCMs subject to the 

Requirements to maintain additional 

capital, NFA believes that the increase 

is necessary in order to maintain the 

purpose behind the Requirements, and 

is also consistent with the approach 

NFA adopted with respect to FDMs. The 

minimum capital level for all FCMs was 

recently increased to $1,000,000, which 

is the same amount currently required 

of FCMs subject to the enhanced 

requirement. In order for the enhanced 

Requirements to maintain their original 

purpose, NFA believes that the capital 

requirement must be increased. Rather 

than setting another fixed dollar 

amount, the proposed amendment 

would tie the required enhanced ANC to 

the early warning requirement under 

CFTC rules (150% of minimum ANC). 

This revision would impose the same 

standard on FCM and FDM Members 

and take into consideration any future 

changes to ANC levels. 

The proposed rule change identifies 

specific areas that need to be addressed 

by an affected Member in the written 

supervisory procedures it is currently 

required to prepare. NFA represents that 

the changes would not impose 

additional substantive requirements on 

Members. Rather, NFA believes this 

language would address requests for 

Members for specific guidance on how 

to comply with their obligation to 

monitor, catalog and log taped 

conversations. Therefore, NFA does not 

believe this change imposes any burden 

on competition. 

The current rule requires Members 

that charge 50% or more of their active 

customers round-turn commissions, fees 

and other charges that total $100 or 

more per futures, forex or option 


jlentini on DSKJ8SOYB1PROD with NOTICES
Federal Register / Vol. 76, No. 1 / Monday, January 3, 2011 / Notices 205 

9 17 CFR 200.30–3(a)(73). 

contract to adopt the Requirements. 

NFA has identified a trend where some 

Members encourage their customers to 

take on riskier out-of-the money options 

at a cost just below $100. Because in 

NFA’s view these positions are much 

less likely to be liquidated and charged 

a liquidation fee, the total cost remains 

under the $100 threshold. NFA states 

that the proposed rule change may 

increase the number of Members subject 

to the Requirements because option 

contracts that would result in total 

commission, fees and other charges of 

$100 or more if the trade was liquidated 

will be deemed to have been charged 

$100 even if the trade is not liquidated. 

NFA believes that the additional burden 

is necessary, however, because Members 

that engage in this practice are clearly 

within the group of Members that NFA’s 

Board believed should be subject to the 

enhanced Requirements when it chose 

to use high commissions and fees as a 

trigger for imposing the Requirements. 

NFA believes that the proposed 

provision that changes a Member’s 

reporting obligation with respect to its 

report on compliance with the 

Requirements will also lessen the 

burden on Members. Under this 

provision, a Member will be permitted 

to file this report on a quarterly rather 

than monthly basis. 

NFA believes that the final two 

proposed revisions do not add any 

burden to competition because they are 

merely clarifying current requirements. 

One proposed rule change would add 

language that NFA believes makes it 

clear that a Member that receives a full 

or partial waiver is still deemed to be a 

Member that has met the criteria for 

purposes of the Notice. Another 

proposed rule change would add the 

word ‘‘current’’ before the term 

‘‘Disciplined Firm’’ in four relevant 

places in order to clarify that a ‘‘five 

year’’ Disciplined Firm will no longer be 

a Disciplined Firm for purposes of 

triggering the Requirements once the 

firm is dropped from the ‘‘five year’’ list. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

NFA states that it worked with its 

Member Advisory Committees in 

developing the rule change. NFA did 

not, however, publish the rule change to 

its membership for comment. NFA 

states that it did not receive comment 

letters concerning the rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

On October 20, 2010, the CFTC 

notified NFA that it had approved the 

rule change, and therefore, NFA is 

permitted to make the amendments 

effective as of this date. 

Within 60 days of the date of 

effectiveness of the proposed rule 

change, the Commission, after 

consultation with the CFTC, may 

summarily abrogate the proposed rule 

change and require that the proposed 

rule change be refiled in accordance 

with the provisions of Section 19(b)(1) 

of the Act. 

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 Exchange 

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–NFA–2010–04. 

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–NFA–2010–04. 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 Room, 100 F Street, NE., 

Washington, DC 20549, on official 

business days between the hours of 10 

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

also will be available for inspection and 

copying at the principal office of NFA. 

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 publicly available. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–33097 Filed 12–30–10; 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 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 March 4, 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 e-mail address. 


jlentini on DSKJ8SOYB1PROD with NOTICES