[Federal Register Volume 66, Number 19 (Monday, January 29, 2001)]
[Notices]
[Page 8125]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-2472]


=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; 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 17Ad-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'') has submitted to the Office of Management and Budget 
requests for extension of the previously approved collections of 
information discussed below.
    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 VAR model deviates from the actual 
performance of the OTC derivatives dealer's 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 17Ad-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 hour, 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.
    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 regarding the above information should be directed 
to the following persons: (i) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, DC 20503; and (ii) Michael E. Bartell, Associate 
Executive Director, Office of Information Technology, Securities and 
Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549. 
Comments must be submitted to OMB within 30 days of this notice.

    Dated: January 22, 2001.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-2472 Filed 1-26-01; 8:45 am]
BILLING CODE 8010-01-M