[Federal Register Volume 67, Number 147 (Wednesday, July 31, 2002)]
[Notices]
[Pages 49714-49715]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-19319]


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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 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 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 17a-22 Supplemental Material of Registered Clearing 
Agencies
    Rule 17a-22 under the Securities Exchange Act of 1934 (``Exchange

[[Page 49715]]

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 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 aides 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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    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 estimated burden hours 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 10202, 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 24, 2002.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-19319 Filed 7-30-02; 8:45 am]
BILLING CODE 8010-01-P