[Federal Register Volume 69, Number 114 (Tuesday, June 15, 2004)]
[Notices]
[Pages 33432-33433]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-13418]


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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 15a-6; SEC File No. 270-0329; 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'') has submitted to the Office of Management 
and Budget a request for extension of the previously approved 
collection of information discussed below.
    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.
    In general, the records to be maintained under Rule 15a-6 must be 
kept for the applicable time periods as set forth in Rule 17a-4 (17 CFR 
240.17a-4) under the Exchange Act or, with respect to the consents to 
service of process, for a period of not less than six years after the 
applicable person ceases engaging in U.S. securities activities. 
Reliance on the exemption set forth in Rule 15a-6 is voluntary, but if 
a foreign broker-dealer elects to rely on such exemption, the 
collection of information described therein is mandatory. The 
collection does not involve 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

[[Page 33433]]

unless it displays a currently valid control number.
    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).
    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.
    Written comments regarding the above information should be directed 
to the following persons: (a) Desk Officer for the Securities and 
Exchange Commission by sending an e-mail to: [email protected]., and (b) 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 the Office of Management and Budget 
within 30 days of this notice.

    Dated: June 4, 2004.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 04-13418 Filed 6-14-04; 8:45 am]
BILLING CODE 8010-01-P