[Federal Register Volume 69, Number 75 (Monday, April 19, 2004)]
[Notices]
[Page 20954]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-8730]


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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 17a-12; SEC File No. 270-442; OMB Control No. 3235-
0498.
    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 17a-12, Reporting Requirements for OTC Derivatives Dealers

    Rule 17a-12 under the Securities Exchange Act of 1934 requires OTC 
derivatives dealers to file quarterly Financial and Operational 
Combined Uniform Single Reports (``FOCUS'' reports) on Part IIB of Form 
X-17A-5,\1\ the basic document for reporting the financial and 
operational condition of OTC derivatives dealers. Rule 17a-12 also 
requires that OTC derivatives dealers annually file audited financial 
statements. The reports required under Rule 17a-12 provide the 
Commission with information used to monitor the operations of OTC 
derivatives dealers and to enforce their compliance with the 
Commission's rules. These reports also enable the Commission to review 
the business activities of OTC derivatives dealers and to anticipate, 
where possible, how these dealers may be affected by significant 
economic events.
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    \1\ Form X-17A-5 (17 CFR 249.617).
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    The staff estimates that the average amount of time necessary to 
prepare and file the information required by Rule 17a-12 is 180 hours 
per OTC derivatives dealer annually: an average of twenty hours 
preparing each of four quarterly reports and an additional 100 hours on 
the annual audit. Three entities are presently registered as OTC 
derivatives dealers and the staff estimates that three additional OTC 
derivatives dealers may become registered within the next three years. 
Thus the total burden is estimated to be 1,080 hours annually for six 
OTC derivatives dealers.
    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 thirty days of this notice.

    Dated: April 12, 2004.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 04-8730 Filed 4-16-04; 8:45 am]
BILLING CODE 8010-01-P