Document ID: SEC-2010-0455-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2010-03-24T04:00Z

[Federal Register: March 24, 2010 (Volume 75, Number 56)]
[Notices]               
[Page 14217]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr24mr10-128]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Submission for OMB Review; 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 17a-12, SEC File No. 270-442, OMB Control No. 3235-0498.

    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'') has submitted to the Office of Management 
and Budget a request for approval of extension of the previously 
approved collection provided for in Rule 17a-12 (17 CFR 240.17a-12) 
under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) 
(``Exchange Act'').
    Rule17a-12 under the Exchange Act requires OTC derivatives dealers 
to file quarterly Financial and Operational Combined Uniform Single 
Reports (``FOCUS'' reports) on Part IIB of Form X-17A-5,\1\ the basic 
document for reporting the financial and operational condition of OTC 
derivatives dealers. Rule 17a-12 also requires that OTC derivatives 
dealers file audited financial statements annually. The reports 
required under Rule 17a-12 provide the Commission with information used 
to monitor the operations of OTC derivatives dealers and to enforce 
their compliance with the Commission's rules. These reports also enable 
the Commission to review the business activities of OTC derivatives 
dealers and to anticipate, where possible, how these dealers may be 
affected by significant economic events.
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    \1\ Form X-17A-5 (17 CFR 249.617).
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    The staff estimates that the average amount of time necessary to 
prepare and file the information required by Rule 17a-12 is 180 hours 
per OTC derivatives dealer annually--an average of twenty hours 
preparing each of four quarterly reports and an additional 100 hours 
for the annual audit. Four entities are presently registered as OTC 
derivatives dealers and the staff expects that one additional OTC 
derivatives dealer, with an application pending, will become registered 
within the next three years. Thus the total burden is estimated to be 
900 hours annually ((180 x 4) + (180 x 1)).
    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) 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 
PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: March 17, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-6506 Filed 3-23-10; 8:45 am]
BILLING CODE 8011-01-P