[Federal Register Volume 68, Number 165 (Tuesday, August 26, 2003)]
[Notices]
[Pages 51309-51310]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-21819]


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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 17f-1(c) and Form X-17F-1A, SEC File No. 270-29, OMB 
Control No. 3235-0037.

    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.
    [sbull] Rule 17f-1(c) and Form X-17F-1A Reporting of missing, lost, 
stolen, or counterfeit securities.
    Rule 17f-1(c) and Form X-17F-1A requires approximately 26,000 
entities in the securities industry to report lost, stolen, missing, or 
counterfeit securities to a central database. Form X-17F-1A facilitates 
the accurate reporting and precise and immediate data entry into the 
central database. Reporting to the central database fulfills a 
statutory requirement that reporting institutions report and inquire 
about missing, lost, counterfeit, or stolen securities. Reporting to 
the central database also allows reporting institutions to gain access 
to the database that stores information for the Lost and Stolen 
Securities Program.
    We estimate that 26,000 reporting institutions will report that 
securities are either missing, lost, counterfeit, or

[[Page 51310]]

stolen annually and that each reporting institution will submit this 
report 50 times each year. The staff estimates that the average amount 
of time necessary to comply with rule 17f-1(c) and Form X-17F-1A is 
five minutes per submission. The total burden is 108,333 hours annually 
for the entire industry (26,000 times 50 times 5 divided by 60). The 
average cost per hour is approximately $50. Therefore, the total cost 
of compliance for respondents is $5,416,666.
    Rule 17f-1(c) is a reporting rule and does not specify a retention 
period. The rule requires an incident-based reporting requirement by 
the reporting institutions when securities are discovered missing, 
lost, counterfeit, or stolen. Registering under rule 17f-1(c) is 
mandatory to obtain the benefit of a central database that stores 
information about missing, lost, counterfeit, or stolen securities for 
the Lost and Stolen Securities Program. Reporting institutions required 
to register under rule 17f-1(c) will not be kept confidential; however, 
the Lost and Stolen Securities Program database will be kept 
confidential. Please note that 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 10102, New Executive Office 
Building, Washington, DC 20503; and (ii) Kenneth A. Fogash, Acting 
Associate Executive Director/CIO, Securities and Exchange Commission, 
450 Fifth Street, NW., Washington, DC 20549. Comments must be submitted 
to OMB within 30 days of this notice.

    Dated: August 19, 2003.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-21819 Filed 8-25-03; 8:45 am]
BILLING CODE 8010-01-P