[Federal Register Volume 66, Number 74 (Tuesday, April 17, 2001)]
[Notices]
[Pages 19806-19807]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-9502]


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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:
    Rule 19d-1, SEC File No. 270-242, OMB Control No. 3235-0206
    Rule 19d-3, SEC File No. 270-245, OMB Control No. 3235-0204
    Rule 19d-1, SEC File No. 270-247, OMB Control No. 3235-0259

    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 (``OMB'') for extension and approval.
    Rule 19d-1 under the Securities Exchange Act of 1934 (the 
``Exchange Act''), prescribes the form and content of notices to be 
filed with the Commission by self-regulatory organizations (``SROs'') 
for which the Commission is the appropriate regulatory agency 
concerning the following final SRO actions: (1) Disciplinary sanctions 
(including summary suspensions); (2) denials of membership, 
participation or association with a member; and (3) prohibitions or 
limitations on access to SRO services.
    The Rule enables the Commission to obtain reports from the SROs 
containing information regarding SRO determinations to discipline 
members or associated persons of members, deny membership or 
participation or association with a member, and similar adjudicated 
findings. The Rule requires that such actions be promptly reported to 
the Commission. The Rule also requires that the reports and notices 
supply sufficient information regarding the background, factual basis 
and issues involved in the proceeding to enable the Commission (1) to 
determine whether the matter should be called up for review on the 
Commission's own motion and (2) to ascertain generally whether the SRO 
has adequately carried out its responsibilities under the Exchange Act.
    It is estimated that 10 respondents will utilize this application 
procedure annually, with a total burden of 2,750 hours, based upon past 
submissions. This figure is based on 10 respondents, spending 
approximately 275 hours each. Each respondent submitted approximately 
110 responses. The staff estimates that the average number of hours 
necessary to comply with the requirements of Rule 19d-1 for each 
submission is 2.5 hours. The average cost per hour, per each submission 
is approximately $101. Therefore, the total cost of compliance for all 
the respondents is $277,750. (10 respondents X 110 responses per 
respondent X 2.5 hours per response X $101 per hour).
    Rule 19d-3 under the Exchange Act, prescribes the form and content 
of applications to the Commission by persons desiring stays of final 
Disciplinary sanctions and summary action of SROs for which the 
Commission is the appropriate regulatory agency. The Commission uses 
the information provided in the application filed pursuant to Rule 19d-
3 to review final actions taken by SROs including: (1) Disciplinary 
sanctions; (2) denials of membership, participation or association; and 
(3) prohibitions on or limitations of access to SRO services.
    It is estimated that approximately 50 respondents will utilize this 
application procedure annually, with a total burden of 900 hours, for 
all respondents to complete all submissions. This figure is based upon 
past submissions. The staff estimates that the average number of hours 
necessary to comply with the requirements of Rule 19d-3 is 18 hours. 
The average cost per hour, to complete each submission, is 
approximately $101. Therefore, the total cost of compliance for all 
respondents is $90,900. (50 submissions X 18 hours X $101 per hour).
    Rule 19h-1 under the Exchange Act prescribes the form and content 
of notices and applications by SROs regarding proposed admissions to, 
or continuances in, membership, participation or association with a 
member of any person subject to a statutory disqualification.
    The Commission uses the information provided in the submissions 
filed pursuant to Rule 19h-1 to review decisions of SROs to permit the 
entry into or continuance in the securities business of persons who 
have committed serious misconduct. The filings submitted pursuant to 
the Rule also permit inclusion of an application to the Commission for 
consent to associate with a member of an SRO notwithstanding a 
Commission order barring such association.
    The Commission reviews filings made pursuant to the Rule to 
ascertain whether it is in the public interest to permit the employment 
in the securities business of persons subject to statutory 
disqualification. The filings contain information that is essential to 
the staff's review and ultimate determination on whether an association 
or employment is in the public interest and consistent with investor 
protection.
    It is estimated that approximately 5 respondents will make 
submissions pursuant to this rule annually, with a total burden of 225 
hours, based upon past submissions. The staff estimates that the 
average number of hours necessary to complete a submission pursuant to 
Rule 19h-1 is 4.5 hours. The average cost per hour for completion of a 
submission is approximately $101. Therefore, the total cost of 
compliance for the respondents is $22,725. (50 responses  x 4.5 hours 
per response 101 per hour).
    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;

[[Page 19807]]

(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 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: April 9, 2001.
Jonathan G. Katz,
Secretary.
[FR Doc. 01-9502 Filed 4-16-01; 8:45 am]
BILLING CODE 8010-01-M