Federal Register / Vol. 76, No. 152 / Monday, August 8, 2011 / Notices 48197 

18 15 U.S.C. 78s(b)(3)(A). 

19 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

the Commission written notice of its intent to file 

the proposed rule change at least five business days 

prior to the date of filing of the proposed rule 

change, or such shorter time as designated by the 

Commission. The Exchange has satisfied this 

requirement. 20 17 CFR 200.30–3(a)(12). 

open market and a national market 

system, and, in general to protect 

investors and the public interest, by 

further clarifying the Exchange’s Rules 

with respect to its members and member 

organizations transacting options. The 

Exchange believes that equally applying 

the rule to both options members and 

member organizations and PSX 

Participants further protects the public 

interest. 

The Exchange believes that this 

proposed rule would, in part, clarify the 

obligations of an option member or 

member organization with respect to the 

provisions in section (a)(1) through (6) 

of the proposed Rule. As specified 

herein, the Exchange believes that 

option members today are subject to 

these requirements and the proposal 

merely serves to clarify these obligations 

in a single Rule. These requirements in 

section (a) of the proposed rule seek to 

ensure that the option members and 

member organizations are required to 

maintain certain standards to protect the 

integrity of the Exchange’s systems, as is 

the case today for PSX Participants. 

The Exchange believes that an options 

member and member organization’s 

continuing obligation to report any 

noncompliance with registration 

requirements is inferred in the Rules 

today as described herein. The 

application of proposed Rule 911 to 

option members would adopt a clear 

Rule for option members regarding their 

obligation to report noncompliance with 

any registration requirement, as is the 

case today for PSX Participants. The 

Exchange believes this provision is 

instrumental in assisting the Exchange 

with its regulatory responsibilities. 

Finally, the Exchange proposes to add 

a new provision, that it may impose 

temporary restrictions upon the 

automated entry or updating of orders or 

quotes/orders as the Exchange may 

determine to be necessary to protect the 

integrity of the Exchange’s systems, for 

option members. This provision is 

applicable today to PSX Participants. 

The Exchange believes that this ability 

to impose a temporary restriction upon 

members and member organizations 

transacting options would assist the 

Exchange in maintaining the integrity of 

the market and protecting investors and 

the public interest. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: (i) Significantly affect 

the protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days after the date of 

the filing, or such shorter time as the 

Commission may designate, it has 

become effective pursuant to 19(b)(3)(A) 

of the Act 18 and Rule 19b–4(f)(6) 19

thereunder. 

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

should be approved or 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–Phlx–2011–100 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–Phlx–2011–100. 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 the filing also 

will be available for inspection and 

copying at the principal office of the 

Exchange. 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–Phlx– 

2011–100 and should be submitted on 

or before August 29, 2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.20

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2011–19991 Filed 8–5–11; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–65015; File No. SR– 

MSRB–2011–08] 

Self-Regulatory Organizations; 

Municipal Securities Rulemaking 

Board; Notice of Filing of Proposed 

New Rule A–11, on Municipal Advisor 

Assessments, and New Form A–11– 

Interim 

August 2, 2011. 

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

Securities Exchange Act of 1934 (the 

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48198 Federal Register / Vol. 76, No. 152 / Monday, August 8, 2011 / Notices 

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

2 17 CFR 240.19b–4. 

3Public Law 111–203. 

4Concurrent with the filing of this proposed rule 

change, the MSRB published for comment a draft 

amendment to proposed Rule A–11 and draft Form 

A–11–Survey pursuant to which the MSRB would 

collect the necessary information from municipal 

advisors to undertake such examination. See MSRB 

Notice 2011–34 (July 26, 2011). The MSRB would 

file the draft Rule A–11 amendment and draft Form 

A–11–Survey with the Commission prior to 

undertaking such collection of information. 

5Proposed Rule A–11(b)(ii) would define 

municipal advisory business as the provision of 

advice to or on behalf of a municipal entity or an 

obligated person with respect to municipal 

financial products or the issuance of municipal 

securities. 

6Under proposed Rule A–11(b)(iii), an associated 

person of a municipal advisor would be viewed as 

soliciting municipal advisory business if the 

associated person undertakes any direct or indirect 

communication with a municipal entity or 

obligated person for the purpose of obtaining or 

retaining: (A) Municipal advisory business for such 

municipal advisor with a municipal entity or 

obligated person; or (B) third-party business. 

7Proposed Rule A–11(b)(iv) would define thirdparty business as an engagement by a municipal 

entity of another person that does not control, is not 

controlled by, or is not under common control with 

the person soliciting such engagement, where such 

other person is: (A) A broker, dealer, municipal 

securities dealer, or municipal advisor engaging or 

seeking an engagement with such municipal entity 

in connection with municipal financial products or 

the issuance of municipal securities; or (B) an 

investment adviser (as defined in section 202 of the 

Investment Advisers Act of 1940) providing or 

seeking to provide investment advisory services to 

or on behalf of such municipal entity. 

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

notice is hereby given that on July 26, 

2011, the Municipal Securities 

Rulemaking Board (‘‘Board’’ or 

‘‘MSRB’’) filed with the Securities and 

Exchange Commission (‘‘SEC’’ or 

‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III below, which Items have been 

prepared by the MSRB. 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 MSRB is filing with the SEC a 

proposed rule change consisting of (i) 

Proposed new Rule A–11, on municipal 

advisor assessments, and (ii) new Form 

A–11–Interim (the ‘‘proposed rule 

change’’). The MSRB requests that the 

proposed rule change be made effective 

October 1, 2011. 

The text of the proposed rule change 

is available on the MSRB’s Web site at 

http://www.msrb.org/Rules-andInterpretations/SEC-Filings/2011- 

Filings.aspx, at the MSRB’s principal 

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, the 

MSRB 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. The Board 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 

The proposed rule change consists of 

new Rule A–11, on municipal advisor 

assessments, and new Form A–11– 

Interim. The purpose of the proposed 

rule change is to levy a reasonable 

interim assessment to defray a portion 

of the costs and expenses of operating 

and administering the MSRB, including 

in particular the increased costs and 

expenses attributable to the regulation 

of municipal advisors that the MSRB 

began to incur upon being vested with 

rulemaking authority in this area under 

the Dodd-Frank Wall Street Reform and 

Consumer Protection Act.3 The MSRB 

expects the interim assessment to 

remain in effect in the form proposed in 

the proposed rule change for a limited 

period of time during which the MSRB 

would examine the nature of the 

municipal advisory activities 

undertaken by municipal advisors as 

well as the manner and level of 

compensation received by municipal 

advisors for such municipal advisory 

activities (the ‘‘MSRB municipal advisor 

study’’).4 Based on the MSRB’s findings, 

the MSRB would then consider whether 

to replace the interim assessment with 

a permanent form of assessment on 

municipal advisors that would, together 

with other MSRB assessments payable 

by municipal advisors, brokers, dealers 

and municipal securities dealers, 

provide for reasonable assessments that 

are fairly and equitably apportioned 

among all market participants subject to 

MSRB regulation and that do not 

impose an undue burden on small 

municipal advisors. 

The interim assessment under 

proposed Rule A–11 would consist of an 

annual assessment equal to $300 for 

each assessable professional reported or 

required to be reported by a municipal 

advisor to the MSRB on Form A–11– 

Interim for each fiscal year. Completed 

Form A–11–Interim and payment of the 

interim assessment would be due by 

November 30 of each year. Form A–11– 

Interim would be completed and 

submitted, and the interim assessment 

would be paid, in the manner set forth 

in the Instructions for Interim Municipal 

Advisor Assessment and Form A–11– 

Interim. 

For purposes of the interim 

assessment, an assessable professional 

of a municipal advisor would, pursuant 

to proposed Rule A–11(b)(i), consist of 

any natural person who is an associated 

person of the municipal advisor who 

has received compensation or other 

payments from the municipal advisor 

(excluding reimbursement for out-ofpocket expenses) includable in such 

person’s gross income for federal 

income tax purposes in the amount of 

$10,000 or more during the fiscal year 

of the MSRB for which the municipal 

advisor is submitting Form A–11– 

Interim and who provides services in 

connection with the municipal advisor’s 

municipal advisory activities as defined 

in Rule D–13. Such services include, but 

are not limited to: 

(A) Engaging in municipal advisory 

business 5 with a municipal entity or 

obligated person; 

(B) soliciting 6 municipal advisory 

business with a municipal entity or 

obligated person on its own behalf or 

soliciting third-party business; 7

(C) providing research or analytical 

services to other personnel of the 

municipal advisor engaged in the 

services described in paragraph (A) or 

(B) above or to clients of the municipal 

advisor, where such research or analytic 

services are related to the services 

described in paragraph (A) or (B) above; 

(D) acting as supervisor of any person 

described in paragraph (A), (B) or (C) 

above with respect to such person’s 

services as described in paragraph (A), 

(B) or (C) above; 

(E) acting as supervisor of any person 

described in paragraph (D) above up 

through and including the Chief 

Executive Officer or similarly situated 

official; or 

(F) serving as a member of the 

municipal advisor’s executive or 

management committee or similarly 

situated officials, if any. 

Notwithstanding the foregoing, a 

municipal advisor would not be 

required to include on Form A–11– 

Interim as an assessable professional 

any associated person (i) Who otherwise 

qualifies as an assessable professional if 

such associated person is included on 

Form A–11–Interim for such fiscal year 

as an assessable professional of another 

municipal advisor that controls, is 

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Federal Register / Vol. 76, No. 152 / Monday, August 8, 2011 / Notices 48199 

8Proposed Form A–11–Interim also would 

require that municipal advisors provide information 

about the number of personnel at the firm that are 

engaged solely in non-municipal advisory activities. 

This information would be used to better 

understand the extent to which municipal advisory 

activities represent only a portion of firms’ overall 

activities but would not be used to calculate the 

interim assessment. 

9All municipal advisors would be required to 

submit completed Form A–11–Interim, even if such 

municipal advisors have no assessable professionals 

to report. 

10See Exchange Act Release No. 63621 (File No. 

SR–MSRB–2010–10) (December 29, 2010) (the 

‘‘2010 Dealer Fee Order’’). 

11See Exchange Act Release No. 63313 (File No. 

SR–MSRB–2010–14) (November 12, 2010) (the 

‘‘2010 Municipal Advisor Fee Order’’). Municipal 

advisors pay an initial fee of $100 under MSRB 

Rule A–12 and an annual fee of $500 under MSRB 

Rule A–14, both amounts being equal to the annual 

and initial fees paid by brokers, dealers and 

municipal securities dealers under those rules. 

12The amount of the transaction fee was 

increased from $.005 per $1000 par value of sale 

transactions to .01 per $1000 par value of sale 

transactions beginning January 1, 2011. The MSRB 

previously estimated that this increase in the 

transaction fee would generate an estimated $7 

million of additional revenue annually. See 2010 

Dealer Fee Order. 

13The MSRB previously estimated that the new 

technology fee would generate an estimated $10 

million of revenue annually. See 2010 Dealer Fee 

Order. 

14The amount generated from the initial fee is 

expected to be significantly lower in future years 

since such fee is payable by each municipal advisor 

only once upon initial registration with the MSRB. 

controlled by, or is under common 

control with such municipal advisor, or 

(ii) whose functions are solely clerical 

or ministerial. 

Proposed Form A–11–Interim would 

require that municipal advisors provide 

information about the number of 

assessable professionals who, during the 

fiscal year for which the assessment is 

calculated, were principal/supervisory 

personnel or other advisory personnel. 

Principal/supervisory personnel would 

consist of any assessable professional 

who is either described in paragraph 

(D), (E) or (F) of the definition of 

assessable professional or who is a 

partner or other equity owner of the 

municipal advisor firm having a 

cumulative ownership interest 

representing at least 2.5% of the firm. 

All other assessable professionals would 

be reported as other advisory personnel. 

The interim assessment would be 

calculated based on the sum of 

principal/supervisory personnel and 

other advisory personnel.8 Because of 

the gross income threshold in the 

definition of assessable professional, 

municipal advisors that generate 

revenues of less than $10,000 in 

connection with their municipal 

advisory activities during the fiscal year 

typically would not have any assessable 

professionals to report for such fiscal 

year and therefore would not be 

required to pay the interim assessment.9

The MSRB requests that the proposed 

rule change be made effective October 1, 

2011, which is the first day of the 

MSRB’s fiscal year. Municipal advisors 

would be required to submit completed 

Form A–11–Interim and to make 

payment of the interim assessment by 

November 30, 2011, based on 

information for the period from October 

1, 2010 through September 30, 2011. If 

in any subsequent fiscal year the MSRB 

has not yet replaced the interim 

assessment with a permanent form of 

assessment as described above, 

municipal advisors would be required 

to submit completed Form A–11– 

Interim and to make payment of the 

interim assessment by November 30 of 

such fiscal year based on information 

for the prior fiscal year. 

2. Statutory Basis 

The MSRB believes that the proposed 

rule change is consistent with Section 

15B(b)(2)(J) of the Securities Exchange 

Act of 1934, as amended (the ‘‘Exchange 

Act’’), which provides that the MSRB’s 

rules shall: 

provide that each municipal securities 

broker, municipal securities dealer, and 

municipal advisor shall pay to the Board 

such reasonable fees and charges as may be 

necessary or appropriate to defray the costs 

and expenses of operating and administering 

the Board. 

In addition, Section 15B(b)(2)(L)(iv) of 

the Exchange Act requires that rules 

adopted by the MSRB: 

not impose a regulatory burden on small 

municipal advisors that is not necessary or 

appropriate in the public interest and for the 

protection of investors, municipal entities, 

and obligated persons, provided that there is 

robust protection of investors against fraud. 

The proposed rule change would 

establish an interim assessment on 

municipal advisors that would help to 

defray a portion of the costs and 

expenses of operating and administering 

the MSRB’s regulatory and related 

activities in connection with municipal 

advisors until such time as a permanent 

assessment is established based on the 

planned MSRB municipal advisor study 

described above. Although the amounts 

raised through the interim assessment 

would not be sufficient to pay all ongoing costs of regulation of municipal 

advisors and also would be insufficient 

to cover costs already incurred in 

connection with the regulation of 

municipal advisors since the MSRB 

commenced such regulatory activities 

on October 1, 2010, the MSRB believes 

that it is reasonable and appropriate to 

impose the interim assessment pending 

establishment of the final form of 

municipal advisor assessment. 

In approving a 2010 MSRB proposal 

to increase the MSRB’s transaction fee 

and to establish a new technology fee 

payable by brokers, dealers and 

municipal securities dealers,10 the 

Commission recognized ‘‘the concerns 

raised by some commenters that the 

increase in transaction fees and the new 

technology fee will be used to subsidize 

municipal advisor regulation’’ and 

noted that the MSRB had taken certain 

initial steps to assess municipal advisor 

fees 11 and expected to assess other fees 

on municipal advisors as appropriate. 

Currently, under MSRB Rule A–13, 

brokers, dealers and municipal 

securities dealers pay an underwriting 

fee of $.03 per $1000 par value of 

municipal securities purchased in a 

primary offering (with certain 

exceptions), a transaction fee of $.01 per 

$1000 par value of sale transactions of 

municipal securities (with certain 

exceptions), and a technology fee of $1 

for each sale transaction of municipal 

securities, in addition to an initial fee of 

$100 under MSRB Rule A–12 and an 

annual fee of $500 under MSRB Rule A– 

14. For the MSRB fiscal year ended 

September 30, 2010, the underwriting 

fee generated $13,984,780 and the 

transaction fee generated $6,940,551.12

The technology fee became effective on 

January 1, 2011 and therefore the MSRB 

did not generate any revenue from this 

fee for the MSRB fiscal year ended 

September 30, 2010.13 In addition, for 

the MSRB fiscal year ended September 

30, 2010, the initial fee generated $8,500 

and the annual fee generated 

$1,010,321. 

Municipal advisors do not pay the 

underwriting, transaction or technology 

fee described above. The payment of the 

initial fee became obligatory for 

municipal advisors on January 1, 2011 

and, as of July 22, 2011, approximately 

495 municipal advisors not previously 

registered with the MSRB have paid the 

initial fee in connection with registering 

with the MSRB as municipal advisors, 

generating approximately $49,500 from 

these new municipal advisor 

registrants.14 The payment of the annual 

fee also became obligatory for municipal 

advisors on January 1, 2011 and, as of 

July 22, 2011, these newly registered 

municipal advisors have paid the 

annual fee in connection with their first 

year as registered municipal advisors in 

an aggregate amount of approximately 

$247,500. The MSRB expects that, 

together with the initial fee and annual 

fee, the proposed interim assessment 

payable by municipal advisors would 

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48200 Federal Register / Vol. 76, No. 152 / Monday, August 8, 2011 / Notices 

15Approximately 185 brokers, dealers and 

municipal securities dealers previously registered 

with the MSRB as such have also registered with 

the MSRB as municipal advisors as of July 22, 2011 

and such firms also would be subject to the 

proposed interim assessment. 16 17 CFR 200.30–3(a)(12). 

generate well under 10 percent of the 

MSRB’s total annual revenue in the 

fiscal year beginning October 1, 2011.15

Thus, the MSRB believes that the 

burden on municipal advisors of the 

proposed interim assessment would be 

reasonable and appropriate and would 

be relatively small compared to the 

burden of fees and assessments paid by 

brokers, dealers and municipal 

securities dealers. 

The amount of the interim assessment 

payable by each municipal advisor firm 

would be dependent on the number of 

assessable professionals of the firm and 

therefore would result in lower 

assessments for smaller municipal 

advisor firms and would bear a 

reasonable relationship with the level of 

municipal advisory activities 

undertaken by each municipal advisor 

firm. In addition, as noted above, 

because of the gross income threshold in 

the definition of assessable professional, 

municipal advisors that generate 

revenues of less than $10,000 in 

connection with their municipal 

advisory activities during the fiscal year 

typically would not have any assessable 

professionals to report for such fiscal 

year and therefore would not be 

required to pay the interim assessment. 

Accordingly, the interim assessment 

would minimize the regulatory burden 

on small municipal advisors. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The MSRB does not believe that the 

proposed rule change will impose any 

burden on competition not necessary or 

appropriate in furtherance of the 

purposes of the Exchange Act since it 

would apply equally to all municipal 

advisors based on the number of 

assessable professionals of each firm. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

Written comments were neither 

solicited nor received on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 45 days of the date of 

publication of this notice in the Federal 

Register or within such longer period (i) 

as the Commission may designate up to 

90 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 

such 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–MSRB–2011–08 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–MSRB–2011–08. 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 

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 MSRB’s offices. 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–MSRB–2011–08 and should 

be submitted on or before August 29, 

2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.16

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2011–19992 Filed 8–5–11; 8:45 am] 

BILLING CODE 8011–01–P 

SOCIAL SECURITY ADMINISTRATION 

Agency Information Collection 

Activities: Proposed Request and 

Comment 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 

of 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. 

I. The information collection below is 

pending at SSA. SSA will submit it 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 October 7, 2011. Individuals 

can obtain copies of the collection 

instrument by calling the SSA Reports 

Clearance Officer at 410–965–8783 or by 

writing to the above e-mail address. 

SSI Notice of Interim Assistance 

Reimbursement (IAR)—0960–0546. 

mstockstill on DSK4VPTVN1PROD with NOTICES