Notice2024-05380
Proposed Collection; Comment Request; Extension: Implementing the Whistleblower Provisions of Section 21F of the Securities
Primary source
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Published
March 14, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 51 (Thursday, March 14, 2024)</title>
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[Federal Register Volume 89, Number 51 (Thursday, March 14, 2024)]
[Notices]
[Pages 18684-18685]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-05380]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-625 OMB Control No. 3235-0686]
Proposed Collection; Comment Request; Extension: Implementing the
Whistleblower Provisions of Section 21F of the Securities
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736.
Exchange Act of 1934--Form WB-APP
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'') is soliciting comments on the
collection of information summarized below. The Commission plans to
submit an extension for this current collection of information to the
Office of Management and Budget for approval.
In Release No. 34-64545,\1\ the Commission adopted rules
(``Rules'') and forms to implement Section 21F of the Securities
Exchange Act of 1934 entitled ``Securities Whistleblower Incentives and
Protection,'' which was created by Section 922 of the Dodd- Frank Wall
Street Reform and Consumer Protection Act (``Dodd-Frank Act'').\2\
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\1\ Implementation of the Whistleblower Provisions of Section
21F of the Securities Exchange Act of 1934, Release No. 34-64545;
File No. S7-33-10 (adopted May 25, 2011).
\2\ Public Law 111-203, 922(a), 124 Stat 1841 (2010).
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The Rules describe the whistleblower program that the Commission
has established pursuant to the Dodd-Frank Act which requires the
Commission to pay an award, subject to certain limitations and
conditions, to whistleblowers who voluntarily provide the Commission
with original information about a violation of the Federal securities
laws that leads to the successful enforcement of a covered judicial or
administrative action, or of a related action. The Rules define certain
terms critical to the operation of the whistleblower program, outline
the procedures for applying for awards and the Commission's procedures
for making decisions on claims, and generally explain the scope of the
whistleblower program to the public and to potential whistleblowers.
Form WB-APP is a form that is submitted by whistleblowers filing a
claim for a whistleblower award. Form WB-APP is required for
application for an award under the Rules. On December 4, 2020, the
Commission approved an updated version of the WB-APP in accordance with
its amended rules.\3\ The updated WB-APP removed the requirement for
the filer to submit their Social Security Number and modified the order
of the questions on the form. Although a new question has been added to
the form, there have been no substantive changes made to the WB-APP
since that approval. The Commission estimates that it takes a
whistleblower, on average, two hours to complete Form WB-APP. The
completion time depends largely on the complexity of the alleged
violation and the amount of information the whistleblower possesses in
support of his or her application for an award. Based on the receipt of
approximately 192 submissions on average for the past eight fiscal
years, the Commission estimates that the total annual PRA burden of
Form WB-APP is 384 hours. Written comments are invited on: (a) Whether
this collection of information
[[Page 18685]]
is necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility; (b) the
accuracy of the agency's estimate of the burden imposed by the
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 by May 13, 2024.
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\3\ SEC Release 34-89963, 2020 WL 5763381, 85 FR 70898 (Nov. 5,
2020).
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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 John
Pezzullo, 100 F Street, NE, Washington, DC 20549, or send an email to:
<a href="/cdn-cgi/l/email-protection#401012011f0d21292c222f38003325236e272f36"><span class="__cf_email__" data-cfemail="015153405e4c60686d636e79417264622f666e77">[email protected]</span></a>.
Dated: March 8, 2024.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2024-05380 Filed 3-13-24; 8:45 am]
BILLING CODE 8011-01-P
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