[Federal Register Volume 66, Number 111 (Friday, June 8, 2001)]
[Notices]
[Pages 30957-30958]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-14458]


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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 17a-5(c); SEC File No. 270-199; OMB Control No. 3235-0199.
Rule 17a-7; SEC File No. 270-147; OMB Control No. 3235-0131.

    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 for extension and approval.
    Rule 17a-5(c) under the Securities Exchange Act of 1934 requires 
certain broker-dealers who carry customer accounts to provide 
statements of financial condition to their customers. It is estimated 
that approximately 659 broker and dealer respondents with approximately 
97,600,000 customer accounts incur an average burden of 542,222 hours 
per year to comply with this rule.
    Rule 17a-5(c) does not contain record retention requirements. 
Compliance with the rule is mandatory. Responses are not confidential.
    Rule 17a-7 under the Securities Exchange Act of 1034 requires non-
resident brokers or dealers registered or applying for registration 
pursuant to Section 15 of the Exchange Act to maintain--in the United 
States--complete and current copies of books and records required to be 
maintained under any rule adopted under the Securities Exchange Act of 
1934. Alternatively, Rule 17a-7 provides that the non-resident broker 
or dealer may sign a written undertaking to furnish the requisite books 
and records to the Commission upon demand.
    There are approximately 72 non-resident brokers and dealers. Based 
on

[[Page 30958]]

the Commission's experience in this area, it is estimated that the 
average amount of time necessary to preserve the books and records 
required by Rule 17a-7 is one hour per year. Accordingly, the total 
burden is 72 hours per year.
    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 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 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: June 4, 2001.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-14458 Filed 6-7-01; 8:45 am]
BILLING CODE 8010-01-M