Document ID: SEC-2012-0963-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2012-06-15T04:00Z

[Federal Register Volume 77, Number 116 (Friday, June 15, 2012)]
[Notices]
[Page 36019]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-14628]

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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:
    Interagency Statement on Sound Practices; 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'') has submitted to the Office of Management and Budget 
(``OMB'') a request for approval of extension of 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 Statement was issued by the Commission, together with the 
Office of 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.
    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid control number. No 
person shall be subject to any penalty for failing to comply with a 
collection of information subject to the PRA that does not display a 
valid Office of Management and Budget (OMB) control number.
    Background documentation for this information collection may be 
viewed 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) Thomas Bayer, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 
6432 General Green Way, Alexandria, VA 22312 or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of 
this notice.

    Dated: June 11, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-14628 Filed 6-14-12; 8:45 am]
BILLING CODE 8011-01-P