[Federal Register Volume 65, Number 171 (Friday, September 1, 2000)]
[Notices]
[Page 53241]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-22418]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filing and Information Services, Washington, DC 
20549

Extension: Rule 10b-10; SEC File No. 270-389; OMB Control No. 3235-
0444

    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 collection of 
information summarized below. The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget for extension and approval.
     Rule 10b-10 Confirmation of Transactions
    Rule 10b-10 requires broker-dealers to convey basic trade 
information to customers regarding their securities transactions. This 
information includes: The date and time of the transaction, the 
identity and number of shares bought or sold, and the trading capacity 
of the broker-dealer. Depending on the trading capacity of the broker-
dealer, the Rule requires the disclosure of commissions as well as 
mark-up and mark-down information. For transactions in debt securities, 
the Rule requires the disclosure of redemption and yield information. 
The Rule potentially applies to all of the approximately 5,300 firms 
registered with the Commission that effect transactions on behalf of 
customers.
    The confirmations required by Rule 10b-10 are generally processed 
through automated systems. It takes approximately 1 minute to generate 
and send a confirmation. It is estimated that broker-dealers spend 56 
million hours per year complying with Rule 10b-10.
    The Commission staff estimates the costs of producing and sending a 
confirmation to be approximately 89 cents. The amount of confirmations 
sent and the cost of sending each conformation varies from firm to 
firm. Smaller firms generally send fewer confirmations than larger 
firms because they effect fewer transactions.
    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 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 within 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, NW., Washington, DC 
20549.

    Dated: August 22, 2000.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 00-22418 Filed 8-31-00; 8:45 am]
BILLING CODE 8010-01-M