Document ID: SEC-2020-1912-0002
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals: Implementing the Whistleblower Provisions of the Securities Exchange Act
Posted Date: 2020-12-23T05:00Z

[Federal Register Volume 85, Number 247 (Wednesday, December 23, 2020)]
[Notices]
[Page 84021]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-28425]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-625, OMB Control No. 3235-0686]

Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE,, Washington, DC 
20549-2736

Extension:
    Implementing the Whistleblower Provisions of Section 21F of the 
Securities Exchange Act of 1934--Form TCR and Form WB-APP

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and 
Exchange Commission (``Commission'') is soliciting comments on the 
collection of information summarized below. The Commission plans to 
submit an extension for this current collection of information to the 
Office of Management and Budget for approval.
    In Release No. 34-64545,\1\ the Commission adopted rules 
(``Rules'') and forms to implement Section 21F of the Securities 
Exchange Act of 1934 entitled ``Securities Whistleblower Incentives and 
Protection,'' which was created by Section 922 of the Dodd-Frank Wall 
Street Reform and Consumer Protection Act (``Dodd-Frank Act'').\2\ The 
Rules describe the whistleblower program that the Commission has 
established pursuant to the Dodd-Frank Act which requires the 
Commission to pay an award, subject to certain limitations and 
conditions, to whistleblowers who voluntarily provide the Commission 
with original information about a violation of the federal securities 
laws that leads to the successful enforcement of a covered judicial or 
administrative action, or of a related action. The Rules define certain 
terms critical to the operation of the whistleblower program, outline 
the procedures for applying for awards and the Commission's procedures 
for making decisions on claims, and generally explain the scope of the 
whistleblower program to the public and to potential whistleblowers.
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    \1\ Implementation of the Whistleblower Provisions of Section 
21F of the Securities Exchange Act of 1934, Release No. 34-64545; 
File No. S7-33-10 (adopted May 25, 2011).
    \2\ Public Law 111-203, 922(a), 124 Stat 1841 (2010).
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    Form TCR is a form submitted by whistleblowers who wish to provide 
information to the Commission and its staff regarding potential 
violations of the securities laws. Form TCR is required for submission 
of information under the Rules. The Commission estimates that it takes 
a whistleblower, on average, one and one-half hours to complete Form 
TCR. Based on the receipt of approximately 560 annual responses on 
average for the past three fiscal years, the Commission estimates that 
the annual PRA burden of Form TCR is 840 hours.
    Form WB-APP is a form that is submitted by whistleblowers filing a 
claim for a whistleblower award. Form WB-APP is required for 
application for an award under the Rules. On December 4, 2020, the 
Commission approved an updated version of the WB-APP in accordance with 
its newly amended rules.\3\ The updated WB-APP removes the requirement 
for the filer to submit their Social Security Number and modified the 
order of the questions on the form. No substantive changes were made to 
the WB-APP. The Commission estimates that it takes a whistleblower, on 
average, two hours to complete Form WB-APP. The completion time depends 
largely on the complexity of the alleged violation and the amount of 
information the whistleblower possesses in support of his or her 
application for an award. Based on the receipt of approximately 215 
annual responses on average for the past three fiscal years, the 
Commission estimates that the annual PRA burden of Form WB-APP is 430 
hours. The total estimated annual reporting burden for Form TCR and 
Form WB-APP is 1,270 hours.
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    \3\ Whistleblower Program Rules, 85 FR 70898 (Nov. 5, 2020).
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    Written comments are invited on: (a) Whether this 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 
imposed by 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. Please direct your written comments to David 
Bottom, Director/Chief Information Officer, Securities and Exchange 
Commission, c/o Cynthia Roscoe, 100 F St. NE, Washington DC 20549; or 
send an email to: PRA_Mailbox@sec.gov.

    Dated: December 18, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-28425 Filed 12-22-20; 8:45 am]
BILLING CODE 8011-01-P