[Federal Register Volume 67, Number 101 (Friday, May 24, 2002)]
[Notices]
[Pages 36650-36651]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-13100]


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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-22, SEC File No. 270-202, OMB Control No. 3235-0196

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 USC 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.
    sbull Rule 17a-22 Supplemental Material of Registered Clearing 
Agencies
    Rule 17a-22 under the Securities Exchange Act of 1934 (``Exchange 
Act'') \1\ requires all registered clearing agencies to file with the 
Commission three copies of all materials they issue or make generally 
available to their participants or other entities with whom they have a 
significant relationship. The filings with the Commission must be made 
within ten days after the materials are issued, and when the Commission 
is not the appropriate regulatory agency, the clearing agency must file 
one copy of the material with its appropriate regulatory agency. The 
Commission is responsible for overseeing clearing

[[Page 36651]]

agencies and uses the information filed pursuant to Rule 17a-22 to 
determine whether a clearing agency is implementing procedural or 
policy changes. The information filed aids the Commission in 
determining whether such changes are consistent with the purposes of 
Section 17A of the Exchange Act. Also, the Commission uses the 
information to determine whether a clearing agency has changed its 
rules without reporting the actual or prospective change to the 
Commission as required under Section 19(b) of the Exchange Act.
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    \1\ 15 U.S.C. 78a et. seq.
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    The respondents to Rule 17a-22 generally are registered clearing 
agencies.\2\ The frequency of filings made by clearing agencies 
pursuant to Rule 17a-22 varies, but on average there are approximately 
200 filings per year per clearing agency. Because the filings consist 
of materials that have been prepared for widespread distribution, the 
additional cost to the clearing agencies associated with submitting 
copies to the Commission is relatively small. The Commission staff 
estimates that the cost of compliance with Rule 17a-22 to all 
registered clearing agencies is approximately $5,220. This represents 
one dollar per filing in postage, or a total of $3,600. The remaining 
$1,620 (or approximately 31% of the total cost of compliance) is the 
estimated cost of additional printing, envelopes, and other 
administrative expenses. (The estimated total cost per response is 
$1.45 per page representing $1.00 per page in postage plus $0.45 for 
printing, envelopes, and other administrative expenses.)
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    \2\ Respondents include temporarily registered clearing 
agencies. Respondents also may include clearing agencies granted 
exemptions from the registration requirements of Section 17A, 
conditioned upon compliance with Rule 17a-22.
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    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 estimates 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.
    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: May 16, 2002.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-13100 Filed 5-23-02; 8:45 am]
BILLING CODE 8010-01-P