[Federal Register Volume 67, Number 149 (Friday, August 2, 2002)]
[Notices]
[Page 50486]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-19531]


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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 10b-17, SEC File No. 270-427, OMB Control No. 3235-0476
    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.
     Rule 10b-17, Untimely announcements of record dates ( 17 
CFR 240.10b-17)
    Rule 10b-17 requires any issuer of a class of securities publicly 
traded by the use of any means or instrumentality of interstate 
commerce or of the mails or of any facility of any national securities 
exchange to give notice of the following actions relating to such class 
of securities: (1) A dividend; (2) a stock split; or (3) a rights or 
other subscription offering. Notice shall be (1) given to the National 
Association of Securities Dealers, Inc.; (2) in accordance with the 
procedures of the national securities exchange upon which the 
securities are registered; or (3) may be waived by the Commission.
    The information required by Rule 10b-17 is necessary for the 
execution of the Commission's mandate under the Exchange Act to prevent 
fraudulent, manipulative, and deceptive acts and practices by broker-
dealers. The consequence of not requiring the information collection 
pursuant to Rule 10b-17 is that sellers who have received distributions 
as recordholders may dispose of the cash or stock dividends or other 
rights received as recordholders without knowledge of possible claims 
of purchasers.
    It is estimated that, on an annual basis, there are approximately 
29,430 respondents and that each response takes about 10 minutes to 
complete, thus imposing approximately 4,905 burden hours annually 
(29,430 x 10 minutes). We believe that the average hourly cost to 
produce and file a response under the rule is about $50. Therefore, the 
annual reporting cost burden for complying with this rule is about 
$245,250 (4,905 x $50).
    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 will have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the 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: July 26, 2002.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-19531 Filed 8-1-02; 8:45 am]
BILLING CODE 8010-01-P