Proposed Collection; Comment Request

Published date17 August 2021
Citation86 FR 46033
Record Number2021-17533
SectionNotices
CourtSecurities And Exchange Commission
Federal Register, Volume 86 Issue 156 (Tuesday, August 17, 2021)
[Federal Register Volume 86, Number 156 (Tuesday, August 17, 2021)]
                [Notices]
                [Pages 46033-46034]
                From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
                [FR Doc No: 2021-17533]
                -----------------------------------------------------------------------
                SECURITIES AND EXCHANGE COMMISSION
                [SEC File No. 270-560; OMB Control No. 3235-0622]
                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:
                 Interagency Statement on Sound Practices
                 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 existing
                collection of information provided for in the proposed Interagency
                Statement on Sound Practices Concerning Elevated Risk Complex
                Structured Finance Transactions (``Statement'') under the Securities
                Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange Act'') and the
                Investment Advisers Act of 1940 (15 U.S.C. 80b et seq.) (``Advisers
                Act''). The Commission plans to submit this existing collection of
                information to the Office of Management and Budget (``OMB'') for
                extension and approval.
                 The Statement was issued by the Commission, together with the
                Office of the Comptroller of the Currency, the Board of Governors of
                the Federal Reserve System, the Federal Deposit Insurance Corporation,
                and the Office of Thrift Supervision (together, the ``Agencies''), in
                May 2006. The Statement describes the types of internal controls and
                risk management procedures that the Agencies believe are particularly
                effective in assisting financial institutions to identify and address
                the reputational, legal, and other risks associated with elevated risk
                complex structured finance transactions.
                 The primary purpose of the Statement is to ensure that these
                transactions receive enhanced scrutiny by the institution and to ensure
                that the institution does not participate in illegal or inappropriate
                transactions.
                [[Page 46034]]
                 The Commission estimates that approximately 5 registered broker-
                dealers or investment advisers will spend an average of approximately
                25 hours per year complying with the Statement. Thus, the total time
                burden is estimated to be approximately 125 hours 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
                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: David Bottom, Director/
                Chief Information Officer, Securities and Exchange Commission, c/o
                Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or send an email
                to: [email protected].
                 Dated: August 11, 2021.
                J. Matthew DeLesDernier,
                Assistant Secretary.
                [FR Doc. 2021-17533 Filed 8-16-21; 8:45 am]
                BILLING CODE 8011-01-P
                

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