[Federal Register Volume 68, Number 223 (Wednesday, November 19, 2003)]
[Notices]
[Page 65322]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-28889]


-----------------------------------------------------------------------

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 11Ac1-3, SEC File No. 270-382, OMB Control No. 3235-0435.

    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.
    [sbull] Rule 11Ac1-3 Customer account statements
    Rule 11Ac1-3, 17 CFR 240.11Ac1-3, under the Securities Exchange Act 
of 1934 requires disclosure on each new account and on a yearly basis 
thereafter, on the annual statement, the firm's policies regarding 
receipt of payment for order flow from any market makers, exchanges or 
exchange members to which it routes customers' order in national market 
system securities for execution; and information regarding the 
aggregate amount of monetary payments, discounts, rebates or reduction 
in fees received by the firm over the past year.
    It is estimated that there are approximately 6,752 registered 
broker-dealers.\1\ The staff estimates that the average number of hours 
necessary for each broker-dealer to comply with Rule 11Ac1-3 is 
fourteen hours annually. Thus, the total burden is 94,528 hours 
annually. The average cost per hour is approximately $85. Therefore, 
the total cost of compliance for broker-dealers is $8,034,880.
---------------------------------------------------------------------------

    \1\ This estimate is based on FYE 2002 Focus Reports received by 
the Commission.
---------------------------------------------------------------------------

    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 estimates of 
the burden of the proposed 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.
    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: November 13, 2003.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-28889 Filed 11-18-03; 8:45 am]
BILLING CODE 8010-01-P