[Federal Register Volume 62, Number 43 (Wednesday, March 5, 1997)]
[Notices]
[Page 10098]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-5372]



[[Page 10098]]

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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

    Extension.
    Reproposed Rule 13h-1, SEC File No. 270-358, OMB Control No. 3235-
0408.
    Rule 19d-2, SEC File No. 270-204, OMB Control No. 3235-0205.
    Upon Written Request, Copies Available From: Securities and 
Exchange Commission, Office of Filings and Information Services, 
Washington, DC 20549.
    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'') has submitted to the Office of Management 
and Budget requests for approval of extension on previously approved 
collections of information:
    Reproposed Rule 13h-1 was proposed pursuant to Section 13 of the 
Securities Exchange Act of 1934 (the ``Act'').\1\ Rule 13h-1 will 
enable the Commission to gather timely large trader information in the 
form necessary for the reconstruction of trading activity in periods of 
market stress and for surveillance, enforcement, and other regulatory 
purposes. Without this information, the Commission would not be able to 
perform the reconstructions of trading activity necessary for 
evaluating periods of markets stress and other regulatory purposes.
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    \1\ Section 13 of the Act was amended by the addition of 
Subsection (h) (15 U.S.C. Sec. 78m(h) (1990)) when Section 3 of the 
Market Reform Act of 1990 (Pub. L. No. 101-432, 104 Stat. 963 
(1990)) was enacted.
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    The staff estimates that there are 630 broker-dealers that will be 
subject to the recordkeeping and reporting requirements of the 
reproposed rule. In addition, the staff estimates, based upon analysis 
of previous requests for similar information, that 750 investors will 
be large traders subject to the identification requirements of the 
reproposed rule. Therefore, the Staff estimates that there will be 
(630+750=1,380) 1,380 respondents under the reproposed rule.
    Precise cost estimates are impossible to calculate because the 
commentators on the original proposal did not provide specific details 
on costs. Nevertheless, the staff estimates that annually the 1,380 
respondents will require approximately 11,444 hours to comply with the 
reproposed rule. Further, the staff estimates that, on average, each 
response hour will cost approximately $12.00, and therefore the total 
annual cost of complying with the rule will be approximately $137,328.
    Rule 19d-2 under the Act prescribes the form and content of 
applications of the Commission by persons desiring stays of final 
disciplinary sanctions and summary action of self-regulatory 
organizations (``SROs'') for which the Commission is the appropriate 
regulatory agency.
    It is estimated that approximately 30 respondents will utilize this 
application procedure annually, with a total burden of 90 hours, based 
upon past submissions. The staff estimates that the average number of 
hours necessary to comply with the requirements of Rule 19d-2 is 3 
hours. The average cost per hour is approximately $30. Therefore, the 
total cost of compliance for the respondents is $2,700.
    General comments regarding the estimated burden hours should be 
directed to the Desk Officer for the Securities and Exchange Commission 
at the address below. Any comments concerning the accuracy of the 
estimated average burden hours for compliance with Commission rules and 
forms should be directed to Michael E. Bartell, Associate Executive 
Director, Office of Information Technology, Securities and Exchange 
Commission, 450 Fifth Street, N.W., Washington, D.C. 20549 and Desk 
Officer for the Securities and Exchange Commission, Office of 
Information and Regulatory Affairs, Office of Management and Budget, 
Room 3208, New Executive Office Building, Washington, D.C. 20503.

    Dated: February 26, 1997.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-5372 Filed 3-4-97; 8:45 am]
BILLING CODE 8010-01-M