
[Federal Register Volume 81, Number 176 (Monday, September 12, 2016)]
[Notices]
[Page 62784]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-21798]


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

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 17a-7, SEC File No. 270-147, OMB Control No. 3235-0131

    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'') 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 17a-
7 (17 CFR 240.17a-7) under the Securities Exchange Act of 1934 (15 
U.S.C. 78a et seq.).
    Rule 17a-7 requires a non-resident broker-dealer (generally, a 
broker-dealer with its principal place of business in a place not 
subject to the jurisdiction of the United States) registered or 
applying for registration pursuant to Section 15 of the Exchange Act to 
maintain--in the United States--complete and current copies of books 
and records required to be maintained under any rule adopted under the 
Exchange Act and furnish to the Commission a written notice specifying 
the address where the copies are located. Alternatively, Rule 17a-7 
provides that non-resident broker-dealers may file with the Commission 
a written undertaking to furnish the requisite books and records to the 
Commission upon demand within 14 days of the demand.
    There are approximately 45 non-resident brokers and dealers. Based 
on the Commission's experience, the Commission estimates that the 
average amount of time necessary to comply with Rule 17a-7 is one hour 
per year. Accordingly, the total industry-wide reporting burden is 
approximately 45 hours per year. Assuming an average cost per hour of 
approximately $291 for a compliance manager, the total internal cost of 
compliance for the respondents is approximately $13,095 per year.\1\
---------------------------------------------------------------------------

    \1\ $291 per hour for a compliance manager is from SIFMA's 
Management & Professional Earnings in the Securities Industry 2013, 
modified by Commission staff for an 1800-hour work-year, multiplied 
by 5.35 to account for bonuses, firm size, employee benefits, and 
overhead, and adjusted for inflation.
---------------------------------------------------------------------------

    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, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549 or by sending an 
email to: PRA_Mailbox@sec.gov. Comments must be submitted within 30 
days of this notice.

    Dated: September 6, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-21798 Filed 9-9-16; 8:45 am]
 BILLING CODE P


