[Federal Register Volume 65, Number 238 (Monday, December 11, 2000)]
[Notices]
[Page 77395]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-31444]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, 
DC 20549.
Extension:
    Appendix F to Rule 15c3-1, SEC File No. 270-440, OMB Control No. 
3235-0496
    Rule 17 Ad-16, SEC File No. 270-363, OMB Control No. 3235-0413.

    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 these 
existing collections of information to the Office of Management and 
Budget for extension and approval.
    Appendix F to Rule 15c3-1 requires a broker-dealer choosing to 
register as an OTC derivative dealer to develop and maintain an 
internal risk management system based on Value-at-Risk (``VAR'') models 
Appendix F also requires the OTC derivatives to notify Commission staff 
of the system and of certain other periodic information including when 
the VA model deviates from the actual performance of the OTC 
derivatives dealers' portfolio. It is anticipated that approximately 
six (6) broker-dealers will spend 1,000 hours per year complying with 
Appendix F. The total burden is estimated to be approximately 6,000 
hours. Each broker-dealer will spend approximately $76,500 per response 
for a total annual expense for all broker-dealers of $459,000.
    Rule 176AD-16 requires a registered transfer agent to provide 
written notice to a qualified registered securities depository when 
assuming or terminating transfer agent services on behalf of an issuer 
or when changing its name or address. These recordkeeping requirements 
address the problem of certificate transfer delays caused by transfer 
requests that are directed to the wrong transfer agent or the wrong 
address.
    Given that there are approximately 450 respondents who submit Rule 
17Ad-16 notices, the staff estimates that the average number of hours 
necessary for each transfer agent to comply with Rule 17Ad-16 is 
approximately 15 minutes per notice or 3.5 hours per year, totaling 
1.575 hours industry-wide. The average cost per hour is approximately 
$30 per hours, with the industry-wide cost estimated at approximately 
$47,250. However, the information required by Rule 17Ad-16 generally 
already is maintained by registered transfer agents. The amount of time 
devoted to compliance with Rule 17AD-16 varies according to differences 
in business activity.
    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; (6) the accuracy of the agency's estimate 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 within 60 days of this publication.
    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: November 17, 2000.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 00-31444 Filed 12-8-00; 8:45 am]
BILLING CODE 8010-01-M