Document ID: SEC-2019-0932-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2019-07-02T04:00Z

[Federal Register Volume 84, Number 127 (Tuesday, July 2, 2019)]
[Notices]
[Page 31650]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-14110]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-656, OMB Control No. 3235-0715]

Submission for OMB Review; 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:
    Rules 3a71-6

    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 (``SEC'') 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 Rule 3a71-6 under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
    Rule 3a71-6 provides that non-U.S. security-based swap dealers and 
major security-based swap participants may comply with certain Exchange 
Act requirements via compliance with requirements of a foreign 
financial regulatory system that the Commission has determined by order 
to be comparable to those Exchange Act requirements, taking into 
account the scope and objectives of the relevant foreign requirements, 
and the effectiveness of supervision and enforcement under the foreign 
regulatory regime.
    Requests for substituted compliance may come from parties or groups 
of parties that may rely on substituted compliance, or from foreign 
financial authorities supervising such parties or their security-based 
swap activities. In practice, the Commission expects that the greater 
portion of any such substituted compliance requests will be submitted 
by foreign financial authorities. For purposes of the Paperwork 
Reduction Act, the Commission estimates that three security-based swap 
dealers or major security-based swap participants will submit 
substituted compliance applications.
    The Commission staff estimates that the one-time reporting burden 
associated with making each substituted compliance request pursuant to 
Rule 3a71-6 would occur in the first year and would be approximately 80 
hours of in-house counsel time, or 240 aggregate hours across the three 
entities. The Commission staff estimates that the total costs 
associated with each substituted compliance request would occur in the 
first year and would be appropriately $84,000 for outside counsel, or 
$252,000 in the aggregate across the three entities. Annualized over 
three years, the time burden is 26.67 hours per respondent per year for 
a total burden of 80 hours per year for all respondents. Annualized 
over three years, the cost burden is $28,000 per respondent per year 
for a total cost burden of $84,000 per year for all respondents.
    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 information 
collection at the following website: 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: Lindsay Abate 
Lindsay.M.Abate@omb.eop.gov; and (ii) Charles Riddle, Acting Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Candace Kenner, 100 F Street NE, Washington, DC 20549, or by sending an 
email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 
30 days of this notice.

    Dated: June 27, 2019.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-14110 Filed 7-1-19; 8:45 am]
 BILLING CODE 8011-01-P