
[Federal Register Volume 82, Number 139 (Friday, July 21, 2017)]
[Notices]
[Page 33936]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-15296]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-203, OMB Control No. 3235-0195]


Proposed Collection; 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 17Ab2-1, Form CA-1.

    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'') is soliciting comments on the collection of 
information provided for Rule 17Ab2-1 (17 CFR 240.17Ab2-1) and Form CA-
1: Registration of Clearing Agencies (17 CFR 249b.200) under the 
Securities Exchange Act of 1934 (``Exchange Act'') (15 U.S.C. 78a et 
seq.). The Commission plans to submit this existing collection of 
information to the Office of Management and Budget (``OMB'') for 
extension and approval.
    Rule 17Ab2-1 and Form CA-1 require clearing agencies to register 
with the Commission and to meet certain requirements with regard to, 
among other things, the clearing agency's organization, capacities, and 
rules. The information is collected from the clearing agency upon the 
initial application for registration on Form CA-1. Thereafter, 
information is collected by amendment to the initial Form CA-1 when 
changes in circumstances that render certain information on Form CA-1 
inaccurate, misleading, or incomplete necessitate modification of the 
information previously provided to the Commission.
    The Commission uses the information disclosed on Form CA-1 to (i) 
determine whether an applicant meets the standards for registration set 
forth in Section 17A of the Exchange Act, (ii) enforce compliance with 
the Exchange Act's registration requirement, and (iii) provide 
information about specific registered clearing agencies for compliance 
and investigatory purposes. Without Rule 17Ab2-1, the Commission could 
not perform these duties as statutorily required.
    The Commission staff estimates that the average Form CA-1 requires 
approximately 130 hours to complete and submit for approval. This 
burden is composed primarily of a one-time reporting burden that 
reflects the applicant's staff time (i.e. internal labor costs) to 
prepare and submit the Form to the Commission. This estimate includes 
the burden associated with filing amendments to Form CA-1, which is 
required when certain information contained in an applicant's or 
registrant's Form CA-1 becomes inaccurate, misleading, or incomplete. 
(The time burden related to preparing and submitting an amendment 
widely varies depending on the nature of the information that needs to 
be updated.) The Commission staff estimates that compliance staff work 
at applicant or registrant clearing agencies to comply with Rule 17Ab2-
1 and complete Form CA-1 will result in an internal cost of compliance, 
at an estimated hourly wage of $283, of $36,790 per year per clearing 
agency (130 hours x $283 per hour = $36,790 per year). Therefore, the 
aggregate annual internal cost of compliance for the approximately one 
clearing agency each year to comply with Rule 17Ab2-1 is also $36,790. 
The external costs associated with work on Form CA-1 include fees 
charged by outside lawyers and accountants to assist the applicant or 
registrant collect and prepare the information sought by the form 
(though such consultations are not required by the Commission) and are 
estimated to be approximately a total amount of $19,029 ($19,029 times 
one registrant per year).
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates 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.
    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.
    Please direct your written comments to: Pamela Dyson, Director/
Chief Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or send an email 
to: PRA_Mailbox@sec.gov.

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-15296 Filed 7-20-17; 8:45 am]
 BILLING CODE 8011-01-P


