Document ID: SEC-2019-1388-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2019-09-30T04:00Z

[Federal Register Volume 84, Number 189 (Monday, September 30, 2019)]
[Notices]
[Pages 51697-51698]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-21085]

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SECURITIES AND EXCHANGE COMMISSION

Submission for OMB Review; 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:
    Rule 15Bc3-1 and Form MDSW--Withdrawal from Registration of 
Municipal Securities Dealers, SEC File No. 270-93, OMB Control No. 
3235-0087.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (``PRA'') (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 previously approved collection of information provided for in Rule 
15Bc3-1 (17 CFR 240.15Bc3-1) and Form MSDW (17 CFR 249.1110) under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
    Rule 15Bc3-1 provides that a notice of withdrawal from registration 
with the Commission as a bank municipal securities dealer must be filed 
on Form MSDW. The Commission uses the information contained in Form 
MSDW in determining whether it is in the public interest to permit a 
bank municipal securities dealer to withdraw its registration. This 
information is also important to the municipal securities dealer's 
customers and to the public, because it provides, among other things, 
the name and address of a person to contact regarding any of the 
municipal securities dealer's unfinished business.
    Based upon past submissions of one filing in 2016, two filings in 
2017, zero filings in 2018, and one filing so far in 2019, the staff 
estimates that, on an annual basis, approximately one bank municipal 
securities dealer will file a notice of withdrawal from registration 
with the Commission as a bank municipal securities dealer on Form MSDW. 
The staff estimates that the average number of hours necessary to 
comply with the notice requirements set out in Rule 15Bc3-1 and Form 
MSDW is 0.5 per respondent, for a total burden of 0.5 hours per year. 
The staff estimates that the average internal compliance cost per hour 
is approximately $417.\1\ Therefore, the estimated total annual cost of 
compliance is approximately $209 per year (0.5 hours/year x $417/hour = 
$208.5/year, rounded up to $209).
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    \1\ The estimate of $417 per hour is for a compliance attorney, 
based on the Securities Industry and Financial Markets Association's 
Management & Professional Earnings in the Securities Industry 2013, 
modified by Commission staff to account for an 1800-hour work-year 
and inflation, and multiplied by 5.35 to account for bonuses, firm 
size, employee benefits and overhead.
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    Rule 15Bc3-1 does not contain an explicit recordkeeping 
requirement, but the instructions for filing Form MSDW state that an 
exact copy should be retained by the registrant. Providing the 
information on the application is mandatory in order to withdraw from 
registration with the Commission as a bank municipal securities dealer. 
The information contained in the notice will not be kept confidential.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number. The public may view 
background documentation for this information collection at the 
following website: www.reginfo.gov. Comments should be directed to: (i) 
Desk Officer for the Securities and Exchange Commission, Office of 
Information and Regulatory

[[Page 51698]]

Affairs, Office of Management and Budget, Room 10102, New Executive 
Office Building, Washington, DC 20503, or by sending an email to: 
Lindsay.M.Abate@omb.eop.gov; and (ii) Charles Riddle, Acting Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Candace Kenner, 100 F Street NE, Washington, DC 20549, or by sending an 
email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 
30 days of this notice.

    Dated: September 24, 2019.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-21085 Filed 9-27-19; 8:45 am]
BILLING CODE 8011-01-P