[Federal Register Volume 68, Number 85 (Friday, May 2, 2003)]
[Notices]
[Pages 23506-23507]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-10820]


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SECURITIES AND EXCHANGE COMMISSION


Requests Under Review by Office of Management and Budget

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'') has submitted to the Office of Management 
and Budget request for extension of the previously approved collection 
of information discussed below.
    Rule 15c2-1 (17 CFR 240.15c2-1) 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

[[Page 23507]]

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.
    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 regarding the above information should be directed 
to the following persons: (a) 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 (b) Kenneth A. Fogash, Acting 
Associate Executive Director/CIO, Office of Information Technology, 
Securities and Exchange Commission, 450 Fifth Street, NW, Washington DC 
20549. Comments must be submitted to OMB within 30 days of this notice.

    Dated: April 28, 2003.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-10820 Filed 5-1-03; 8:45 am]
BILLING CODE 8010-01-P