Federal Register / Vol. 80, No. 5 / Thursday, January 8, 2015 / Notices 1053 

Analyst Certification (AC) (17 CFR 

242.500–505), under the Securities 

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

seq.). 

Regulation AC requires that research 

reports published, circulated, or 

provided by a broker or dealer or 

covered person contain a statement 

attesting that the views expressed in 

each research report accurately reflect 

the analyst’s personal views and 

whether or not the research analyst 

received or will receive any 

compensation in connection with the 

views or recommendations expressed in 

the research report. Regulation AC also 

requires broker-dealers to, on a quarterly 

basis, make, keep, and maintain records 

of research analyst statements regarding 

whether the views expressed in public 

appearances accurately reflected the 

analyst’s personal views, and whether 

any part of the analyst’s compensation 

is related to the specific 

recommendations or views expressed in 

the public appearance. Regulation AC 

also requires that research prepared by 

foreign persons be presented to U.S. 

persons pursuant to Securities Exchange 

Act Rule 15a–6 and that broker-dealers 

notify associated persons if they would 

be covered by the regulation. Regulation 

AC excludes the news media from its 

coverage. 

The collections of information under 

Regulation AC are necessary to provide 

investors with information with which 

to determine the value of the research 

available to them. It is important for an 

investor to know whether an analyst 

may be biased with respect to securities 

or issuers that are the subject of a 

research report. Further, in evaluating a 

research report, it is reasonable for an 

investor to want to know about an 

analyst’s compensation. Without the 

information collection, the purposes of 

Regulation AC could not be met. 

The Commission estimates that 

Regulation AC imposes an aggregate 

annual time burden of approximately 

25,395 hours on 5,186 respondents, or 

approximately 5 hours per respondent. 

The Commission estimates that the total 

annual internal cost of compliance 

attributable to the 25,395 hours is 

approximately $11,616,150.00, or 

approximately $2,239.90 per 

respondent, annually. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 

The public may view background 

documentation for this collection at the 

following Web site: www.reginfo.gov. 

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 

email to: Shagufta_Ahmed@

omb.eop.gov; and (ii) Pamela Dyson, 

Acting Director/Chief Information 

Officer, Securities and Exchange 

Commission, c/o Remi Pavlik-Simon, 

100 F Street NE., Washington, DC 

20549, or send an email to: PRA_

Mailbox@sec.gov. Comments must be 

submitted within 30 days of this notice. 

Dated: January 2, 2015. 

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–00056 Filed 1–7–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Proposed Collection; Comment 

Request 

Upon Written Request, Copies Available 

From: U.S. Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE., Washington, DC 

20549–2736. 

Extension: 

Rule 24b–1; SEC File No. 270–205; OMB 

Control No. 3235–0194. 

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’’) is soliciting comments 

on the collection of information 

summarized below. The Commission 

plans to submit this existing collection 

of information to the Office of 

Management and Budget (‘‘OMB’’) for 

extension and approval, Rule 24b–1 (17 

CFR 240.24b–1)—Documents to be Kept 

Public by Exchanges. 

Rule 24b–1 under the Securities 

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

seq.) requires a national securities 

exchange to keep and make available for 

public inspection a copy of its 

registration statement and exhibits filed 

with the Commission, along with any 

amendments thereto. 

There are 18 national securities 

exchanges that spend approximately 

one half hour each complying with this 

rule, for an aggregate total compliance 

burden of 9 hours per year. The staff 

estimates that the average cost per 

respondent is $65.18 per year, 

calculated as the costs of copying 

($13.97) plus storage ($51.21), resulting 

in a total cost of compliance for the 

respondents of $1,173.24. 

Written comments are invited on: (a) 

Whether the proposed 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 Commission’s 

estimate of the burden of the proposed 

collection of information; (c) ways to 

enhance the quality, utility, and clarity 

of the information to be collected; and 

(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. 

Consideration will be given to 

comments and suggestions submitted in 

writing within 60 days of this 

publication. 

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 OMB 

control number. 

Please direct your written comments 

to: Pamela Dyson, Acting Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington, 

DC 20549, or send an email to: PRA_

Mailbox@sec.gov. 

Dated: January 2, 2015. 

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–00055 Filed 1–7–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Proposed Collection; Comment 

Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

Washington, DC 20549–2736. 

Extension: 

Rule 15g–4, SEC File No. 270–347, OMB 

Control No. 3235–0393. 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the 

Securities and Exchange Commission 

(‘‘Commission’’) is soliciting comments 

on the existing collection of information 

provided for in Rule 15g–4—Disclosure 

of compensation to brokers or dealers 

(17 CRF 240.15g–4) under the Securities 

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

seq.). The Commission plans to submit 

this existing collection of information to 

the Office of Management and Budget 

(‘‘OMB’’) for extension and approval. 

Rule 15g–4 requires brokers and 

dealers effecting transactions in penny 


tkelley on DSK3SPTVN1PROD with NOTICES
1054 Federal Register / Vol. 80, No. 5 / Thursday, January 8, 2015 / Notices 

stocks for or with customers to disclose 

the amount of compensation received by 

the broker-dealer in connection with the 

transaction. The purpose of the rule is 

to increase the level of disclosure to 

investors concerning penny stocks 

generally and specific penny stock 

transactions. 

The Commission estimates that 

approximately 221 broker-dealers will 

spend an average of 87 hours annually 

to comply with this rule. Thus, the total 

compliance burden is approximately 

19,245 burden-hours per year. 

Written comments are invited on: (a) 

Whether the proposed 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 

estimates of the burden of the proposed 

collection of information; (c) ways to 

enhance the quality, utility, and clarity 

of the information to be collected; and 

(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. 

Consideration will be given to 

comments and suggestions submitted in 

writing within 60 days of this 

publication. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 

Please direct your written comments 

to: Pamela Dyson, Acting Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington, 

DC 20549 or send an email to PRA_

Mailbox@sec.gov. 

Dated: January 2, 2015. 

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–00054 Filed 1–7–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Proposed Collection; Comment 

Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE., Washington, DC 

20549–2736. 

Extension: 

Rule 17a–5(c), SEC File No. 270–199, OMB 

Control No. 3235–0199. 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the 

Securities and Exchange Commission 

(‘‘Commission’’) is soliciting comments 

on the existing collection of information 

provided for in Rule 17a–5(c) (17 CFR 

240.17a–5(c)), under the Securities 

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

seq.). The Commission plans to submit 

this existing collection of information to 

the Office of Management and Budget 

(‘‘OMB’’) for extension and approval. 

Rule 17a–5(c) generally requires 

broker-dealers who carry customer 

accounts to provide statements of the 

broker-dealer’s financial condition to 

their customers. Paragraph (5) of Rule 

17a–5(c) provides a conditional 

exemption from this requirement. A 

broker-dealer that elects to take 

advantage of the exemption must 

publish its statements on its Web site in 

a prescribed manner, and must maintain 

a toll-free number that customers can 

call to request a copy of the statements. 

The purpose of the Rule is to ensure 

that customers of broker-dealers are 

provided with information concerning 

the financial condition of the firm that 

may be holding the customers’ cash and 

securities. The Commission, when 

adopting the Rule in 1972, stated that 

the goal was to ‘‘directly’’ send a 

customer essential information so that 

the customer could ‘‘judge whether his 

broker or dealer is financially sound.’’ 

The Commission adopted the Rule in 

response to the failure of several brokerdealers holding customer funds and 

securities in the period between 1968 

and 1971. 

The Commission estimates that 

approximately 213 broker-dealer 

respondents carrying approximately 115 

million public customer accounts incur 

an average burden of 142,424 hours per 

year to comply with the Rule. 

Written comments are invited on: (a) 

Whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

Commission, including whether the 

information shall have practical utility; 

(b) the accuracy of the Commission’s 

estimates of the burden of the proposed 

collection of information; (c) ways to 

enhance the quality, utility, and clarity 

of the information collected; and (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. 

Consideration will be given to 

comments and suggestions submitted in 

writing within 60 days of this 

publication. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 

Please direct your written comments 

to: Pamela Dyson, Acting Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington, 

DC 20549, or send an email to: PRA_

Mailbox@sec.gov. 

Dated: January 2, 2015. 

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–00057 Filed 1–7–15; 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 FOIA Services, 

100 F Street NE., Washington, DC 

20549–2736. 

Extension: 

Rule 9b–1, SEC File No. 270–429—OMB 

Control No. 3235–0480. 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the 

Securities and Exchange Commission 

(‘‘Commission’’) has submitted to the 

Office of Management and Budget 

(‘‘OMB’’) a request for approval of 

extension of the previously approved 

collection of information provided for in 

Rule 9b–1 (17 CFR 240.9b–1), under the 

Securities Exchange Act of 1934 (15 

U.S.C. 78a et seq.). 

Rule 9b–1 (17 CFR 240.9b–1) sets 

forth the categories of information 

required to be disclosed in an options 

disclosure document (‘‘ODD’’) and 

requires the options markets to file an 

ODD with the Commission 60 days prior 

to the date it is distributed to investors. 

In addition, Rule 9b–1 provides that the 

ODD must be amended if the 

information in the document becomes 

materially inaccurate or incomplete and 

that amendments must be filed with the 

Commission 30 days prior to the 

distribution to customers. Finally, Rule 

9b–1 requires a broker-dealer to furnish 

to each customer an ODD and any 

amendments, prior to accepting an order 

to purchase or sell an option on behalf 

of that customer. 

There are 12 options markets that 

must comply with Rule 9b–1. These 

respondents work together to prepare a 

single ODD covering options traded on 


tkelley on DSK3SPTVN1PROD with NOTICES