[Federal Register Volume 75, Number 14 (Friday, January 22, 2010)]
[Notices]
[Page 3765]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-1147]


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

SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: US Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Rule 17a-12; SEC File No. 270-442; OMB Control No. 3235-0498.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the existing 
collection of information provided in Rule 17a-12 (17 CFR 240.17a-12) 
under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) 
(``Exchange Act'').
    Rule 17a-12 under the Exchange Act is the reporting rule tailored 
specifically for OTC derivatives dealers registered with the 
Commission, and Part IIB of Form X-17A-5,\1\ the Financial and 
Operational Combined Uniform Single (``FOCUS'') Report, is the basic 
document for reporting the financial and operational condition of OTC 
derivatives dealers.
---------------------------------------------------------------------------

    \1\ Form X-17A-5 (17 CFR 249.617).
---------------------------------------------------------------------------

    Rule 17a-12 requires registered OTC derivatives dealers to file 
Part IIB of the FOCUS Report quarterly. Rule 17a-12 also requires that 
OTC derivatives dealers file audited financial statements annually. 
There are currently four registered OTC derivatives dealers. The staff 
expects that one additional firm, with an application pending, will 
register as an OTC derivatives dealer within the next three years. The 
staff estimates that the average amount of time necessary to prepare 
and file the quarterly reports required by the rule is eighty hours per 
OTC derivatives dealer \2\ and that the average amount of time for the 
annual audit report is 100 hours per OTC derivatives dealer, for a 
total of 180 hours per OTC derivatives dealer annually. Thus the staff 
estimates that the total number of hours necessary for the four current 
OTC derivatives dealers plus the additional OTC derivative dealer to 
comply with the requirements of Rule 17a-12 on an annual basis is 900 
hours.
---------------------------------------------------------------------------

    \2\ Based upon an average of 4 responses per year and an average 
of 20 hours spent preparing each response.
---------------------------------------------------------------------------

    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information shall 
have practical utility; (b) the accuracy of the agency's estimate 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.
    Comments should be directed to 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: [email protected].

    Dated: January 15, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-1147 Filed 1-21-10; 8:45 am]
BILLING CODE 8011-01-P