[Federal Register Volume 62, Number 114 (Friday, June 13, 1997)] [Notices] [Pages 32388-32389] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 97-15468] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Extension Rule 17f-1(b) SEC File No. 270-28 OMB Control No. 3235-0032 Rule 17f-1(c) and Form X-17F-1A SEC File No. 270-29 OMB Control No. 3235-0037 Rule 17h-1T and 17h-2 SEC File No. 270-359 OMB Control No. 3235-0410 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'') is soliciting comments on the collections of information summarized below. The Commission plans to submit these existing collections of information to the Office of Management and Budget for extension and approval.Rule 17f-1(b) Requirements for reporting and inquiry with respect to missing, lost, counterfeit, or stolen securities. Rule 17f-1(b) requires approximately 19,000 entities in the securities industry to register in the Lost and Stolen Securities Program. Registration fulfills a statutory requirement that entities report and inquire about missing, lost, counterfeit, or stolen securities. Registration also allows entities in the securities industry to gain access to a confidential data base that stores information for the Program. It is estimated that 600 respondents will register in the Lost and Stolen Securities Program annually. It is also estimated that each respondent will register one time. The average number [[Page 32389]] of hours necessary to comply with the Rule 17f-1(b) is one-half hour. The total annual burden is 300 hours for respondents, based upon past submissions. The cost per hour is approximately $30. Therefore, the total cost of compliance for respondents is $9,000. Rule 17f-1(c) and Form X-17F-1A Reporting of missing, lost, stolen, or counterfeit securities. Rule 17f-1(c) requires approximately 23,000 entities in the securities industry to report lost, stolen, missing, or counterfeit securities to a central database, Form X-17F-1A facilitates the accurate reporting and precise and immediate data entry into the central database. Reporting to the central database fulfills a statutory requirement that reporting institutions report and inquire about missing, lost, counterfeit, or stolen securities. Reporting to the central database also allows reporting institutions to gain access to the database that stores information for the Lost and Stolen Securities Program. It is estimated that 23,000 reporting institutions will report that securities are either missing, lost, counterfeit, or stolen annually. It is also estimated that each reporting institution will submit this report 29 times each year. The average amount of time necessary to comply with Rule 17f-1(c) and Form X-17F-1A is five minutes. The total annual burden is 55,583 hours for respondents, based upon past submissions. The average cost per hour is approximately $30. Therefore, the total cost of compliance for respondents is $1,667,490. Rules 17h-1T and 17h-2T Risk Assessment Recordkeeping and Reporting Requirements for Associated Persons of Brokers and Dealers. Rules 17h-1T and 17h-2T require certain broker-dealers to maintain and file with the Commission certain records relating to the activities of affiliates whose business activities are reasonably likely to have a material impact on the broker-dealers. These rules enable the Commission to gather complete and timely information about the activities of broker-dealer affiliates in a form necessary for surveillance, enforcement, and other regulatory purposes. The Commission uses this information to assess the potentially damaging impact of the activities of associated persons on registered broker- dealers. It is estimated that approximately 250 respondents will maintain and report information under these rules on a quarterly basis. The average number of hours necessary to comply with Rules 17h-1T and 17h- 2T is six hours per quarter. The total annual burden is 6,000 hours for respondents, based upon past submissions. The cost per hour is approximately $416.67. Therefore, the total cost of compliance for respondents is $2,5000,000 (6,000 total hours multiplied by $416.67). The information required by the Rules must be maintained and preserved by the respondents for a period of not less than three years in an easily accessible place. In addition, it is mandatory for broker- dealers subject to Rules 17h-1T and 17h-2T to maintain and file the information required by the Rules. All information received by the Commission pursuant to the Rules is kept confidential. Finally, the public should be aware that an agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid control number. Written comments are invited on: (a) whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency's estimates of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be 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 60 days of this publication. Please direct your written comments to Michael E. Bartell, Associate Executive Director, Office of Information Technology, Securities and Exchange Commission, 450 5th Street, N.W., Washington, DC 20549. Dated: June 5, 1997. Margaret H. McFarland, Deputy Secretary. [FR Doc. 97-15468 Filed 6-12-97; 8:45 am] BILLING CODE 8010-01-M