[Federal Register Volume 76, Number 189 (Thursday, September 29, 2011)]
[Notices]
[Page 60565]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-25077]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Rule 15c2-1; SEC File No. 270-418; OMB Control No. 3235-0485.

    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 existing 
collection of information provided for in Rule 15c2-1, (17 CFR 
240.15c2-1), under the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.). The Commission plans to submit this existing collection of 
information to the Office of Management and Budget for extension and 
approval.
    Rule 15c2-1 prohibits the commingling under the same lien of 
securities of margin customers (a) with other customers without their 
written consent and (b) with the broker or dealer. The rule also 
prohibits the rehypothecation of customers' margin securities for a sum 
in excess of the customer's aggregate indebtedness. Pursuant to Rule 
15c2-1, respondents must collect information necessary to prevent the 
rehypothecation of customer securities in contravention of the rule, 
issue and retain copies of notices of hypothecation of customer 
securities in accordance with the rule, and collect written consents 
from customers in accordance with the rule. The information is 
necessary to ensure compliance with the rule, and to advise customers 
of the rule's protections.
    There are approximately 102 respondents (i.e., broker-dealers that 
carry or clear customer accounts that also have bank loans) that 
require an aggregate total of 2,295 hours to comply with the rule. Each 
of these approximately 102 registered broker-dealers makes an estimated 
45 annual responses. Each response takes approximately 0.5 hours to 
complete. Thus, the total compliance burden per year is 2,295 burden 
hours.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates of the burden of the proposed collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information on 
respondents; 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.
    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid control number. No 
person shall be subject to any penalty for failing to comply with a 
collection of information subject to the PRA that does not display a 
valid Office of Management and Budget (OMB) control number.
    Please direct your written comments to: Thomas Bayer, Director/
Chief Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312 or 
send an e-mail to: [email protected].

    Dated: September 23, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-25077 Filed 9-28-11; 8:45 am]
BILLING CODE 8011-01-P