Notice2024-23003
Submission for OMB Review; Comment Request; Extension: Rule 17f-2(d)
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
October 4, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 193 (Friday, October 4, 2024)</title>
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[Federal Register Volume 89, Number 193 (Friday, October 4, 2024)]
[Notices]
[Pages 80968-80969]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-23003]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-36, OMB Control No. 3235-0028]
Submission for OMB Review; Comment Request; Extension: Rule 17f-
2(d)
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736
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'') 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 17f-
2(d) (17 CFR 240.17f-2(d)),
[[Page 80969]]
under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
Rule 17f-2(d) requires that records created pursuant to the
fingerprinting requirements of Section 17(f)(2) of the Act be
maintained and preserved by every member of a national securities
exchange, broker, dealer, registered transfer agent and registered
clearing agency (``covered entities'' or ``respondents''); permits,
under certain circumstances, the records required to be maintained and
preserved by a member of a national securities exchange, broker, or
dealer to be maintained and preserved by a self-regulatory organization
that is also the designated examining authority for that member, broker
or dealer; and permits the required records to be preserved on
microfilm. The general purpose of Rule 17f-2 is to: (i) identify
security risk personnel; (ii) provide criminal record information so
that employers can make fully informed employment decisions; and (iii)
deter persons with criminal records from seeking employment or
association with covered entities. The rule enables the Commission or
other examining authority to ascertain whether all covered persons are
being fingerprinted and whether proper procedures regarding
fingerprinting are being followed. Retention of these records for a
period of not less than three years after termination of a covered
person's employment or relationship with a covered entity ensures that
law enforcement officials will have easy access to fingerprint cards on
a timely basis. This in turn acts as an effective deterrent to employee
misconduct.
Approximately 3,800 respondents are subject to the recordkeeping
requirements of the rule. Each respondent maintains approximately 68
new records per year, each of which takes approximately 2 minutes per
record to maintain, for an annual burden of approximately 2.2666667
hours (68 records times 2 minutes). The total annual time burden for
all respondents is approximately 8,613 hours (3,800 respondents times
2.2666667 hours). As noted above, all records maintained subject to the
rule must be retained for a period of not less than three years after
termination of a covered person's employment or relationship with a
covered entity. In addition, we estimate the total annual cost burden
to respondents is approximately $38,000 in third party storage costs.
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 website: <a href="http://www.reginfo.gov">www.reginfo.gov</a>. Find this
particular information collection by selecting ``Currently under 30-day
Review--Open for Public Comments'' or by using the search function.
Written comments and recommendations for the proposed information
collection should be sent by November 4, 2024 to (i) <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a> and (ii) Austin Gerig, Director/Chief Data Officer,
Securities and Exchange Commission, c/o Oluwaseun Ajayi, 100 F Street
NE, Washington, DC 20549, or by sending an email to:
<a href="/cdn-cgi/l/email-protection#88d8dac9d7c5e9e1e4eae7f0c8fbedeba6efe7fe"><span class="__cf_email__" data-cfemail="4f1f1d0e10022e26232d20370f3c2a2c61282039">[email protected]</span></a>.
Dated: October 1, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-23003 Filed 10-3-24; 8:45 am]
BILLING CODE 8011-01-P
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