
[Federal Register Volume 79, Number 250 (Wednesday, December 31, 2014)]
[Notices]
[Page 78920]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-30590]


=======================================================================
-----------------------------------------------------------------------

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 15c2-7, SEC File No. 270-420, OMB Control No. 3235-0479.

    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 
15c2-7 (17 CFR 240.15c2-7) under the Securities Exchange Act of 1934 
(15 U.S.C. 78a et seq.).
    Rule 15c2-7 places disclosure requirements on broker-dealers who 
have correspondent relationships, or agreements identified in the rule, 
with other broker-dealers. Whenever any such broker-dealer enters a 
quotation for a security through an inter-dealer quotation system, Rule 
15c2-7 requires the broker-dealer to disclose these relationships and 
agreements in the manner required by the rule. The inter-dealer 
quotation system must also be able to make these disclosures public in 
association with the quotation the broker-dealer is making.
    When Rule 15c2-7 was adopted in 1964, the information it requires 
was necessary for execution of the Commission's mandate under the 
Securities Exchange Act of 1934 to prevent fraudulent, manipulative and 
deceptive acts by broker-dealers. In the absence of the information 
collection required under Rule 15c2-7, investors and broker-dealers 
would have been unable to accurately determine the market depth of, and 
demand for, securities in an inter-dealer quotation system.
    There are approximately 4,342 broker-dealers registered with the 
Commission. Any of these broker-dealers could be potential respondents 
for Rule 15c2-7, so the Commission is using that number as the number 
of respondents. Rule 15c2-7 applies only to quotations entered into an 
inter-dealer quotation system, such as the OTC Bulletin Board 
(``OTCBB'') or OTC Link (formerly ``Pink Sheets''), operated by OTC 
Markets Group Inc. (``OTC Link''). According to representatives of both 
OTC Link and the OTCBB, neither entity has recently received, or 
anticipates receiving any Rule 15c2-7 notices. However, because such 
notices could be made, the Commission estimates that one filing is made 
annually pursuant to Rule 15c2-7.
    Based on prior industry reports, the Commission estimates that the 
average time required to enter a disclosure pursuant to the rule is .75 
minutes, or 45 seconds. The Commission sees no reason to change this 
estimate. We estimate that impacted respondents spend a total of .0125 
hours per year to comply with the requirements of Rule 15c2-7 (1 notice 
(x) 45 seconds/notice).
    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 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) Pamela Dyson, Acting Director/
Chief Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or by sending 
send an email to: PRA_Mailbox@sec.gov. Comments must be submitted to 
OMB within 30 days of this notice.

    Dated: December 23, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-30590 Filed 12-30-14; 8:45 am]
BILLING CODE 8011-01-P


