[Federal Register Volume 60, Number 144 (Thursday, July 27, 1995)]
[Notices]
[Pages 38596-38597]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-18476]



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SECURITIES AND EXCHANGE COMMISSION


Requests Under Review by Office of Management and Budget

    Agency Clearance Officer: Michael E. Bartell, (202) 942-8800.
    Upon Written Request Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, 
D.C. 20549

Extension

Rule 15a-4--File No. 270-7
Rule 15b6-1 and Form BDW--File No. 270-17
Rule 15Bc3-1 and Form MSDW--File No. 270-93
Rule 17a-1--File No. 270-244
Rule 17a-2--File No. 270-189
Rule 17a-3--File No. 270-26
Rule 17a-7--File No. 270-147
Rule 17f-1(g)--File No. 270-30
Rule 17Ad-6--File No. 270-151
Rule 17Ad-7--File No. 270-152

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1980 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission has submitted for extension of OMB approval the following 
rules under the Securities Exchange Act of 1934:
    Rule 15a-4 permits a natural person member of a securities exchange 
who terminates its association with a registered broker-dealer to 
continue to do business on the exchange while the Commission reviews 
his application for registration as a broker-dealer, if the exchange 
files a statement indicating that there does not appear to be any 
ground for disapproving the application. The total annual burden is 400 
hours, based on approximately 50 submissions, each requiring 8 hours to 
complete.
    Rule 15b6-1 provides that a notice of withdrawal from registration 
as a broker-dealer is to be filed on Form BDW. Approximately 850 
respondents file 1 response per year, with each response requiring 
approximately half an hour, resulting in a total average annual burden 
of 425 hours.
    Rule 15Bc3-1 and Form MSDW provide that a notice of withdrawal from 
registration as a bank municipal securities dealer is to be filed on 
Form MSDW. Approximately 20 respondents file 1 response each per year, 
with each response requiring approximately half an hour, resulting in a 
total average annual burden of 10 hours.
    Rule 17a-1 requires that all national securities exchanges, 
national securities associations, registered clearing agencies, and the 
Municipal Securities Rulemaking Board keep on file for a period of five 
years, two years in an accessible place, all documents which it makes 
or receives respecting its self-regulatory activities, and that such 
documents be made available for examination by the Commission. The 
average number of hours necessary for compliance with the requirements 
of 

[[Page 38597]]
Rule 17a-1 is 50 hours per year. There are 25 entities required to 
comply with the rule: 8 national securities exchanges, 1 national 
securities association, 15 registered clearing agencies, and the 
Municipal Securities Rulemaking Board. The total number of hours 
required for all respondents to comply with the rule is thus 1,250 
hours annually.
    Rule 17a-2 requires the manager of an underwriting syndicate to 
retain, in a separate file, certain information relating to stabilizing 
purchases of a security being distributed. The rule enables the 
Commission to monitor compliance with Rule 10b-6 and 10b-7. 
Approximately 500 recordkeepers will spend 1 hour per year complying 
with the rule, for a total average annual burden of 500 hours.
    Rule 17a-3 requires that certain records be made by exchange 
members, brokers, and dealers. There are approximately 6,000 exchange 
members, brokers, and dealers subject to the rule. Each spends an 
average of 1 hour per day, or 249 hours per year, complying with the 
rule. Therefore, the total average annual burden is 6,000  x  249 
hours, or 1,494,000 hours.
    Rule 17a-7 requires foreign broker-dealers registered with the 
Commission to retain copies of their books and records in the United 
States or file an undertaking agreeing to make them available upon 
request. It is estimated that the three foreign broker-dealers 
registered with the Commission will spend an average of one hour per 
year complying with the rule, for an annual average total burden of 
three hours per year.
    Rule 17f-1(g) requires reporting institutions to retain all 
documents that are necessary for purposes of monitoring compliance with 
the registration, reporting, and inquiry requirements of the rule. It 
is estimated that there are 24,518 respondents and, on average, each 
respondent would need to retain 33 records annually, with each 
retention requiring approximately 1 minute (33 minutes or .55 hours). 
The total estimated annual burden is thus 13,484.9 hours.
    Rule 17Ad-6 is needed to (1) assure that registered transfer agents 
are maintaining minimum records to monitor and control adequately their 
performance; and (2) to permit the appropriate regulatory agencies 
(``ARAs'') to examine those transfer agents for compliance with the 
Commission's rules. It is estimated that approximately 480 hours per 
year are used to make and keep current these records. The total burden 
on the estimated 1576 respondents is thus 756,480 hours per year.
    Rule 17Ad-7 requires entities to retain information to (1) assure 
that registered transfer agents are maintaining records to monitor and 
control adequately their performance and (2) to permit ARAs to examine 
those transfer agents for compliance with the Commission's rules. It is 
estimated that approximately 2.2 hours per week are used to retain 
these records, or 114 hours per year. The total burden on the estimated 
1576 respondents is thus 179,664 hours per year.
    Direct general comments to the Clearance Officer for the Securities 
and Exchange Commission at the address below. Direct any comments 
concerning the accuracy of the estimated average burden hours for 
compliance with the Commission rules and forms to Michael E. Bartell, 
Associate Executive Director, Office of Information Technology, 
Securities and Exchange Commission, 450 Fifth Street, NW., Washington, 
DC 20549 and the Clearance Officer for the Securities and Exchange 
Commission, Office of Management and Budget, Room 3208, New Executive 
Office Building, Washington, DC 20503.

    Dated: July 7, 1995.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 95-18476 Filed 7-26-95; 8:45 am]
BILLING CODE 8010-01-M