Document ID: SEC-2010-0027-0001
Agency: sec
Document Type: Notice
Title: Submission for OMB Review; Comment Request
Posted Date: 2010-01-08T05:00Z

[Federal Register Volume 75, Number 5 (Friday, January 8, 2010)]
[Notices]
[Pages 1089-1090]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: X10-700108]

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

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: Rule 17i-3, SEC File No. 270-529, OMB Control No. 3235-
0593.
    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 \1\ the Securities and Exchange Commission (``Commission'') has 
submitted to the Office of Management and Budget a request for 
extension of the previously approved collection of information 
discussed below. The Code of Federal Regulation citation to this 
collection of information is the following: 17 CFR 240.17i-3.
---------------------------------------------------------------------------

    \1\ 44 U.S.C. 3501 et seq.
---------------------------------------------------------------------------

    Section 231 of the Gramm-Leach-Bliley Act of 1999 \2\ (the 
``GLBA'') amended Section 17 of the Securities Exchange Act of 1934 (17 
USC 78a et seq.) (``the Exchange Act'') to create a regulatory 
framework under which a holding company of a broker-dealer 
(``investment bank holding company'' or ``IBHC'') may voluntarily be 
supervised by the Commission as a supervised investment bank holding 
company (or ``SIBHC'').\3\ In 2004, the Commission promulgated rules, 
including Rule 17i-3, to create a framework for the Commission to 
supervise SIBHCs.\4\ This framework includes qualification criteria for 
SIBHCs, as well as recordkeeping and reporting requirements. Among 
other things, this regulatory framework for SIBHCs is intended to 
provide a basis for non-U.S. financial regulators to treat the 
Commission as the principal U.S. consolidated, home-country supervisor 
for SIBHCs and their affiliated broker-dealers.\5\
---------------------------------------------------------------------------

    \2\ Public Law 106-102, 113 Stat. 1338 (1999).
    \3\ See 15 U.S.C. 78q(i).
    \4\ See Exchange Act Release No. 49831 (Jun. 8, 2004), 69 FR 
34472 (Jun. 21, 2004).
    \5\ See H.R. Conf. Rep. No. 106-434, 165 (1999). See also 
Exchange Act Release No. 49831, at 6 (Jun. 8, 2004), 69 FR 34472, at 
34473 (Jun. 21, 2004).
---------------------------------------------------------------------------

    Rule 17i-3 permits an SIBHC to withdraw from Commission supervision 
by filing a notice of withdrawal with the Commission. The Rule requires 
that an SIBHC include in its notice of withdrawal a statement that it 
is in compliance with Rule 17i-2(c) regarding amendments to its Notice 
of Intention to help to assure that the Commission has updated 
information

[[Page 1090]]

when considering the SIBHC's withdrawal request.
    The collection of information required by Rule 17i-3 is necessary 
to enable the Commission to evaluate whether it is necessary and 
appropriate in the furtherance of Section 17 of the Exchange Act for 
the Commission to allow an SIBHC to withdraw from supervision. Without 
this information, the Commission would be unable to make this 
evaluation.
    We estimate, for Paperwork Reduction Act purposes only, that one 
SIBHC may wish to withdraw from Commission supervision as an SIBHC over 
a ten-year period. Each SIBHC that withdraws from Commission 
supervision as an SIBHC will require approximately 24 hours to draft a 
withdrawal notice and submit it to the Commission. An SIBHC likely 
would have an attorney perform this task. Further, an SIBHC likely will 
have a senior attorney or executive officer review the notice of 
withdrawal before submitting it to the Commission, which will take 
approximately eight hours. Thus, we estimate that the annual, aggregate 
burden of withdrawing from Commission supervision as an SIBHC will be 
approximately 3.2 hours each year.\6\
---------------------------------------------------------------------------

    \6\ (1 SIBHC/every 10 years) x (24 hours to draft + 8 hours to 
review) = 3.2 hours.
---------------------------------------------------------------------------

    The collection of information is mandatory and the information 
required to be provided to the Commission pursuant to this Rule is 
deemed confidential pursuant to Section 17(j) of the Securities 
Exchange Act of 1934 \7\ and Section 552(b)(3)(B) of the Freedom of 
Information Act,\8\ notwithstanding any other provision of law.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78q(j).
    \8\ 5 U.S.C. 552(b)(3)(B).
---------------------------------------------------------------------------

    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless it displays a 
currently valid control number.
    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 e-mail to: Shagufta_
Ahmed@comb.eop.gov; and (ii) Charles Boucher, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Shirley 
Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or send 
an e-mail to PRA_Mailbox@sec.gov. Comments must be submitted to OMB 
within 30 days of this notice.

    Dated: December 30, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-40 Filed 1-7-10; 8:45 am]
BILLING CODE 8011-01-P