[Federal Register Volume 74, Number 204 (Friday, October 23, 2009)]
[Notices]
[Pages 54861-54862]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-25483]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; 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-3, SEC File No. 270-529, OMB Control No. 3235-0593.

    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 requests 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: 17 CFR 
240.17i-3.
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    \1\ 44 U.S.C. 3501 et seq.
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    Section 231 of the Gramm-Leach-Bliley Act of 1999 \2\ (the 
``GLBA'') amended Section 17 of the Securities Exchange Act of 1934 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-3, 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 broker-
dealers.\5\
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    \2\ Public Law No. 106-102, 113 Stat. 1338 (1999).
    \3\ See 15 U.S.C. 78q(i).
    \4\ See Exchange Act Release No. 49831 (Jun. 8, 2004), 69 FR 
34472 (Jun. 21, 2004).
    \5\ See 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).
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    Rule 17i-3 permits an SIBHC to withdraw from Commission supervision 
by filing a notice of withdrawal with the Commission. The Rule requires 
that an SIBHC include in its notice of withdrawal a statement that it 
is in compliance with Rule 17i-2(c) regarding amendments to its Notice 
of Intention to help to assure that the Commission has updated 
information when considering the SIBHC's withdrawal request.
    The collection of information required by Rule 17i-3 is necessary 
to enable the Commission to evaluate whether it is necessary and 
appropriate in the furtherance of Section 17 of the Exchange Act for 
the Commission to allow an SIBHC to withdraw from supervision. Without 
this information, the Commission would be unable to make this 
evaluation.
    We estimate, for Paperwork Reduction Act purposes only, that one 
SIBHC may wish to withdraw from Commission supervision as an SIBHC over 
a ten-year period. Each SIBHC that withdraws from Commission 
supervision as an SIBHC will require approximately 24 hours to draft a 
withdrawal notice and submit it to the Commission. An SIBHC likely 
would have an attorney perform this task. Further, an SIBHC likely will 
have a senior attorney or executive officer review the notice of 
withdrawal before submitting it to the Commission, which will take 
approximately eight hours. Thus, we estimate that the annual, aggregate 
burden of withdrawing from Commission supervision as an SIBHC will be 
approximately 3.2 hours each year.\6\
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    \6\ (1 SIBHC/every 10 years) x (24 hours to draft + 8 hours to 
review) = 3.2 hours.
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    Written 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 will 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 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.
    Comments should be directed to 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: <a href="/cdn-cgi/l/email-protection#316163706e7c50585d535e49714254521f565e47"><span class="__cf_email__" data-cfemail="451517041a08242c29272a3d053620266b222a33">[email protected]</span></a>.


[[Page 54862]]


     October 19, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-25483 Filed 10-22-09; 8:45 am]
BILLING CODE 8011-01-P


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