[Federal Register Volume 68, Number 40 (Friday, February 28, 2003)]
[Notices]
[Page 9729]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-4695]


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SECURITIES AND EXCHANGE COMMISSION


Request For Public Comment

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549.
Extension:
    Rule 15c2-1, SEC File No. 270-418, OMB Control No. 3235-0485.
    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 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 15c2-1 prohibits the commingling under the same lien of 
securities of margin customers (a) with other customers without their 
written consent and (b) with the broker or dealer. The rule also 
prohibits the rehypothecation of customers' margin securities for a sum 
in excess of the customer's aggregate indebtedness. See Securities 
Exchange Act Release No. 2690 (November 15, 1940); Securities Exchange 
Act Release No. 9428 (December 29, 1971). Pursuant to Rule 15c2-1, 
respondents must collect information necessary to prevent the 
rehypothecation of customer account in contravention of the rule, issue 
and retain copies of notices of hypothecation of customer accounts in 
accordance with the rule, and collect written consents from customers 
in accordance with the rule. The information is necessary to ensure 
compliance with the rule, and to advise customers of the rule's 
protections.
    There are approximately 177 respondents per year (i.e., broker-
dealers that carry or clear customer accounts that also have bank 
loans) that require an aggregate total of 3,983 hours to comply with 
the rule. Each of these approximately 177 registered broker-dealers 
makes an estimated 45 annual responses, for an aggregate total of 7,965 
responses per year. Each response takes approximately 0.5 hours to 
complete. Thus, the total compliance burden per year is 3,983 burden 
hours.
    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 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 Kenneth A. Fogash, Acting Associate 
Executive Director/CIO, Office of Information Technology, Securities 
and Exchange Commission, 450 5th Street, NW., Washington, DC 20549.

    Dated: February 21, 2003.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-4695 Filed 2-27-03; 8:45 am]
BILLING CODE 8010-01-P