Document ID: SEC-2009-0587-0001
Agency: sec
Document Type: Notice
Title: Proposed Extension of Existing Collection; Comment Request
Posted Date: 2009-04-28T04:00Z

[Federal Register Volume 74, Number 80 (Tuesday, April 28, 2009)]
[Notices]
[Pages 19241-19242]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-9554]

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SECURITIES AND EXCHANGE COMMISSION

Proposed Extension of Existing 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:
    Interagency Statement on Sound Practices Concerning Elevated 
Risk Complex Structured Finance Activities, OMB Control No. 3235-
0622, SEC File No. 270-560.

    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 existing collection of 
information provided for in the proposed Interagency Statement on Sound 
Practices Concerning Elevated Risk Complex Structured Finance 
Activities (``Statement'') under the Securities Exchange Act of 1934 
(15 U.S.C. 78a et seq.) (``Exchange Act'') and the Investment Advisers 
Act of 1940 (15 U.S.C. 80b et seq.) (``Advisers Act''). The Commission 
plans to submit this existing collection of information to the Office 
of Management and Budget for extension and approval.
    The Statement was issued by the Commission, together with the 
Office of

[[Page 19242]]

the Comptroller of the Currency, the Board of Governors of the Federal 
Reserve System, the Federal Deposit Insurance Corporation, and the 
Office of Thrift Supervision (together, the ``Agencies''), in May 2006. 
The Statement describes the types of internal controls and risk 
management procedures that the Agencies believe are particularly 
effective in assisting financial institutions to identify and address 
the reputational, legal, and other risks associated with elevated risk 
complex structured finance transactions.
    The primary purpose of the Statement is to ensure that these 
transactions receive enhanced scrutiny by the institution and to ensure 
that the institution does not participate in illegal or inappropriate 
transactions.
    The Commission estimates that approximately 5 registered broker-
dealers or investment advisers will spend an average of approximately 
25 hours per year complying with the Statement. Thus, the total 
compliance burden is estimated to be approximately 125 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 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 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.
    Comments should be directed to Charles Boucher, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Shirley 
Martinson, 6432 General Green Way, Alexandria, VA 22312 or send an e-
mail to: PRA_Mailbox@sec.gov.

    Dated: April 20, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-9554 Filed 4-27-09; 8:45 am]
BILLING CODE 8010-01-P