[Federal Register Volume 66, Number 137 (Tuesday, July 17, 2001)]
[Notices]
[Pages 37249-37250]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-17765]


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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: Rule 17f-1(g), SEC File No. 270-30, OMB Control No. 3235-
0290]

    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 a request for extension of the previously approved 
collection of information discussed below.
     Rule 17f-1(g) Requirements for reporting and inquiry with 
respect to missing, lost, counterfeit, or stolen securities.
    Rule 17f-1(g), under the Securities Exchange Act of 1934 (``Act''), 
requires that all reporting institutions (i.e., every national 
securities exchange, member thereof, registered securities association, 
broker, dealer, municipal securities dealer, registered transfer agent, 
registered clearing agency, participant therein, member of the Federal 
Reserve System, and bank insured by the FDIC) maintain and preserve a 
number of documents related to their participation in the Lost and 
Stolen Securities Program (``Program'') under Rule 17f-1. The following 
documents must be kept in an easily accessible place for three years, 
according to paragraph (g): (1) Copies of all reports of theft or loss 
(Form X-17F-1A) filed with the Commission's designee: (2) all 
agreements between reporting institutions regarding registration in the 
Program or other aspects of Rule 17f-1; and (3) all confirmations or 
other information received from the Commission or its designee as a 
result of inquiry.
    Reporting institutions utilize these records and reports (a to 
report missing, lost, stolen or counterfeit securities to the database, 
(b) to confirm inquiry of the database, and (c) to demonstrate 
compliance with Rule 17f-1. The Commission and the reporting 
institutions' examining authorities utilize these records to monitor 
the incidence of thefts and losses incurred by reporting institutions 
and to determine compliance with Rule 17f-1. If such records were not 
retained by reporting institutions, compliance with Rule 17f-1 could 
not be monitored effectively.
    The Commission estimates that there are 25,824 reporting 
institutions (respondents) and, on average, each respondent would need 
to retain 33 records annually, with each retention requiring 
approximately 1 minute (33 minutes or .55 hours). The total estimated 
annual burden is 14,203.2 hours (25,824  x  .55 hours = 14,203.2). 
Assuming an average hourly cost for clerical work of $18.75, the 
average total yearly record retention cost for each respondent would be 
$10.30. Based on these estimates, the total annual cost for the 
estimated 25,824 reporting institutions would be approximately 
$265,987.
    Rule 17f-1(g) does not require periodic collection, but does 
require retention of records generated as a result

[[Page 37250]]

of compliance with Rule 17f-1. Under Section 17(b) and (f) of the Act, 
the information required by Rule 17f-1(g) is available to the 
Commission and Federal bank regulators for examinations or collection 
purposes. Rule 0-4 of the Act deems such information to be 
confidential. Please note that 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.
    General 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 5th Street, NW., Washington, DC 20549. 
Comments must be submitted to OMB within 30 days of this notice.

    Dated: July 10, 2001.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-17765 Filed 7-16-01; 8:45 am]
BILLING CODE 8010-01-M