[Federal Register Volume 66, Number 67 (Friday, April 6, 2001)]
[Notices]
[Page 18322]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-8504]


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SECURITIES AND EXCHANGE COMMISSION

[Extension: Rule 15a-6; SEC File No. 270-329; OMB Control No. 3235-
0371]


Proposed Collection; Comment Request

    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 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 15a-6 under the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.) provides, among other things, an exemption from broker-dealer 
registration for foreign broker-dealers that effect trades with or for 
U.S. institutional investors through a U.S. registered broker-dealer, 
provided that the U.S. broker-dealers obtains certain information 
about, and consents to service of process from, the personnel of the 
foreign broker-dealer involved in such transactions, and maintains 
certain records in connection therewith.
    These requirements are intended to ensure (a) that the U.S. broker-
dealer will receive notice of the identity of, and has reviewed the 
background of, foreign personnel who will contact U.S. institutional 
investors, (b) that the foreign broker-dealer and its personnel 
effectively may be served with process in the event enforcement action 
is necessary, and (c) that the Commission has ready access to 
information concerning these persons and their U.S. securities 
activities.
    It is estimated that approximately 2,000 respondents will incur an 
average burden of three hours per year to comply with this rule, for a 
total burden of 6,000 hours. At an average cost per hour of 
approximately $100, the resultant total cost of compliance for the 
respondents is $600,000 per year (2,000 entities  x  3 hours/entity  x  
$100/hour = $600,000).
    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 will 
have practical utility; (b) 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: March 30, 2001.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-8504 Filed 4-5-01; 8:45 am]
BILLING CODE 8010-01-M