[Federal Register Volume 69, Number 65 (Monday, April 5, 2004)]
[Notices]
[Pages 17720-17721]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-7602]


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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: Rule 15a-6; SEC File No. 270-0329; and OMB Control No. 
3235-0371.

    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.
    Rule 15a-6 (17 CFR 240.15a-6) under the Securities Exchange Act of 
1934 (15 U.S.C. 78a et seq.) provides, among other things, an exemption 
from broker-dealer registration for foreign broker-dealers that effect 
trades with or for U.S. institutional investors through a U.S. 
registered broker-dealer, provided that the U.S. broker-dealer obtains 
certain information about, and consents to service of process from, the 
personnel of the foreign broker-dealer involved in such transactions, 
and maintains certain records in connection therewith.
    These requirements are intended to ensure (a) that the U.S. broker-
dealer will receive notice of the identity of, and has reviewed the 
background of, foreign personnel who will contact U.S. institutional 
investors, (b) that the foreign broker-dealer and its personnel 
effectively may be served with process in the event enforcement action 
is necessary, and (c) that the Commission has ready access to 
information concerning these persons and their U.S. securities 
activities.
    It is estimated that approximately 2,000 respondents will incur an 
average burden of three hours per year to comply with this rule, for a 
total burden of 6,000 hours. At an average cost per hour of 
approximately $100, the resultant total cost of compliance for the 
respondents is $600,000 per year (2,000 entities x 3 hours/entity x 
$100/hour = $600,000).
    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 proposed collection

[[Page 17721]]

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.
    Direct your written comments to R. Corey Booth, Director/Chief 
Information Officer, Office of Information Technology, Securities and 
Exchange Commission, 450 5th Street, NW., Washington, DC 20549.

    Dated: March 29, 2004.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 04-7602 Filed 4-2-04; 8:45 am]
BILLING CODE 8010-01-P