Document ID: SEC-2007-0157-0001
Agency: sec
Document Type: Notice
Title: Agency information collection activities; proposals, submissions, and approvals
Posted Date: 2007-02-01T05:00Z

[Federal Register: February 1, 2007 (Volume 72, Number 21)]
[Notices]               
[Page 4738]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr01fe07-93]                         

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549.

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'') is soliciting comments on the collection of 
information summarized below. The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget for extension and approval.
    Rule 17a-12 (17 CFR 240.17a-12) under the Securities Exchange Act 
of 1934 (15 U.S.C. 78a et seq.) is the reporting rule tailored 
specifically for OTC derivatives dealers registered with the 
Commission, and Part IIB of Form X-17A-5,\1\ the Financial and 
Operational Combined Uniform Single (``FOCUS'') Report, is the basic 
document for reporting the financial and operational condition of OTC 
derivatives dealers.
---------------------------------------------------------------------------

    \1\ Form X-17A-5 (17 CFR 249.617).
---------------------------------------------------------------------------

    Rule 17a-12 requires registered OTC derivatives dealers to file 
Part IIB of the FOCUS Report quarterly. Rule 17a-12 also requires that 
OTC derivatives dealers file audited financial statements annually. 
There are currently five registered OTC derivatives dealers. The staff 
does not expect that any additional firms will register as OTC 
derivatives dealers within the next three years. The staff estimates 
that the average amount of time necessary to prepare and file the 
quarterly reports required by the rule is eighty hours per OTC 
derivatives dealer \2\ and that the average amount of time for the 
annual audit report is 100 hours per OTC derivatives dealer, for a 
total of 180 hours per OTC derivatives dealer annually. Thus the staff 
estimates that the total number of hours necessary for the five OTC 
derivatives dealers to comply with the requirements of Rule 17a-12 on 
an annual basis is 900 hours.
---------------------------------------------------------------------------

    \2\ Based upon an average of 4 responses per year and an average 
of 20 hours spent preparing each response.
---------------------------------------------------------------------------

    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information shall 
have practical utility; (b) the accuracy of the agency's estimate 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.
    Direct your written comments to R. Corey Booth, 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. Comments must be submitted to OMB within 
60 days of this notice.

    Dated: January 24, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-1583 Filed 1-31-07; 8:45 am]

BILLING CODE 8011-01-P