[Federal Register Volume 69, Number 17 (Tuesday, January 27, 2004)]
[Notices]
[Page 3958]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-1667]


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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 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'') has submitted to the Office of Management 
and Budget a request for extension of the previously approved 
collection of information discussed below.

Rule 11Ac1-3 Customer Account Statements

    Rule 11Ac1-3 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 14 
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.
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    \1\ This estimate is based on FYE 2002 Focus Reports received by 
the Commission.
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    Records generated by forms pursuant to this rule must be kept for 
three years. The records required by this rule are mandatory to assist 
the Commission in its regulatory role. This rule does not involve the 
collection of confidential information. 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) R. Corey Booth, Director/Chief 
Information Officer, 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: January 20, 2004.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 04-1667 Filed 1-26-04; 8:45 am]
BILLING CODE 8010-01-P