[Federal Register Volume 68, Number 139 (Monday, July 21, 2003)]
[Notices]
[Pages 43241-43242]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-18400]


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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:
    Rules 17h-1T and 17h-2T; SEC File No. 270-359; OMB Control No. 
3235-0410.

    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 
requests for extension of the previously approved collections of 
information discussed below. The Code of Federal Regulation citations 
to this collection of information are the following rules: 17 CFR 
240.17h-1T and 17 CFR 240.17h-2T.
    Rule 17h-1T requires a broker-dealer to maintain and preserve 
records and other information concerning certain entities that are 
associated with the broker-dealer. This requirement extends to the 
financial and securities activities of the holding company, affiliates 
and subsidiaries of the broker-dealer that are reasonably likely to 
have a material impact on the financial or operational condition of the 
broker-dealer. Rule 17h-2T requires a broker-dealer to file with the 
Commission quarterly reports and a cumulative year-end report 
concerning the information required to be maintained and preserved 
under Rule 17h-1T.
    The collection of information required by Rules 17h-1T and 17h-2T 
is

[[Page 43242]]

necessary to enable the Commission to monitor the activities of a 
broker-dealer affiliate whose business activities is reasonably likely 
to have a material impact on the financial and operational condition of 
the broker-dealer. Without this information, the Commission would be 
unable to assess the potentially damaging impact of the affiliate's 
activities on the broker-dealer.
    There are currently 166 respondents that must comply with Rules 
17h-1T and 17h-2T. Each of these 166 respondents require approximately 
10 hours per year, or 2.5 hours per quarter, to maintain the records 
required under Rule 17h-1T, for an aggregate annual burden of 1,660 
hours (166 respondents x 10 hours). In addition, each of these 166 
respondents must make five annual responses under Rule 17h-2T. These 
five responses require approximately 14 hours per respondent per year, 
or 3.5 hours per quarter, for an aggregate annual burden of 2,324 hours 
(166 respondents x 14 hours). In addition, there are approximately 
seven new respondents per year that must draft an organizational chart 
required under Rule 17h-1T and establish a system for complying with 
the Rules. The staff estimates that drafting the required 
organizational chart requires one hour and establishing a system for 
complying with the Rules requires three hours, thus requiring an 
aggregate of 28 hours (7 new respondents x 4 hours). Thus, the total 
compliance burden per year is approximately 4,012 burden hours (1,660 + 
2,324 + 28).
    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 Kenneth A. Fogash, Acting 
Associate Executive Director/CIO, Office of Information Technology, 
Securities and Exchange Commission, 450 5th Street, NW., Washington, DC 
20549.

    Dated: July 7, 2003.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-18400 Filed 7-18-03; 8:45 am]
BILLING CODE 8010-01-P