[Federal Register Volume 70, Number 136 (Monday, July 18, 2005)]
[Notices]
[Page 41244]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-3788]


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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 17a-10; SEC File No. 270-154; OMB Control No. 3235-0122.

    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 17a-10 (17 CFR 240.17a-10) requires broker-dealers that are 
exempted from the filing requirements of paragraph (a) of Rule 17a-5 
(17 CFR section 240.17a-5) to file with the Commission an annual 
statement of income (loss) and balance sheet. It is anticipated that 
approximately 500 broker-dealers will spend 12 hours per year complying 
with Rule 17a-10. The total burden is estimated to be approximately 
6,000 hours. Each broker-dealer will spend approximately $880 per 
response \1\ for a total annual expense for all broker-dealers of 
$440,000.
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    \1\ According to the Securities Industry Association's guide on 
management and professional earnings, the median salary for a 
financial reporting manager is $97,500. Assuming that a financial 
reporting manager works 1800 hours per year, he or she earns $54.17 
per hour. Adding in overhead costs of 35%, the hourly rate equals 
$73.13 per hour, or $877.56 per 12-hour response.
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    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 estimate 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.
    Direct your written comments to R. Corey Booth, Director/Chief 
Information Officer, Office of Information Technology, Securities and 
Exchange Commission, 100 F Street, NE., Washington, DC 20549.

     Dated: July 6, 2005.
Jill M. Peterson.
Assistant Secretary.
[FR Doc. E5-3788 Filed 7-15-05; 8:45 am]
BILLING CODE 8010-01-P