[Federal Register Volume 62, Number 247 (Wednesday, December 24, 1997)]
[Notices]
[Page 67419]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-33585]
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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-23 SEC File No. 270-387, OMB Control No. 3235-0442
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-23 and Form 17A-23 Recordkeeping and Reporting Requirements
Relating to Broker-Dealer Trading Systems
Rule 17a-23 and Form 17A-23 under the Securities Exchange Act of
1935 establish recordkeeping and reporting requirements for
approximately 143 registered broker-dealers that operate certain
automated trading systems (``Broker-Dealer Trading System'' or
``BDTS''). Rule 17a-23 requires any registered broker-dealer that
sponsors a BDTS to maintain participant, volume, and transaction
records. Rule 17a-23 and Form 17A-23 also require system sponsors to
submit three reports to the Commission and, under certain
circumstances, to an appropriate self-regulatory organization. These
recordkeeping requirements assist the Commission with monitoring
broker-dealers that operate BDTSs and with ensuring compliance with
Rule 17a-23.
The Commission staff estimates the average number of hours
necessary for each BDTS sponsor to comply with Rule 17a-23 is 46 hours
annually. The total burden is 6,542 hours annually for the broker-
dealers operating BDTSs, based upon past submissions. The average cost
per hour is approximately $7.00. Therefore, the total annual cost of
compliance for the 143 broker-dealers operating BDTSs is $46,046.00.
The retention period for the recordkeeping requirement under Rule
17a-23 is three years following the date of a record or notice prepared
pursuant to the rule. The recordkeeping requirement under Rule 17a-23
is mandatory to assist the Commission with monitoring broker-dealers
that operate BDTSs and with ensuring compliance with the rule. Rule
17a-23 does involve the collection of 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 unless it displays
a currently valid control number.
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 3208, New Executive Office
Building, Washington, D.C. 20503; and (ii) Michael E. Bartell,
Associate Executive Director, Office of Information Technology,
Securities and Exchange Commission, 450 Fifth Street, N.W., Washington,
D.C. 20549. Comments must be submitted to OMB within 30 days of this
notice.
Dated: December 17, 1997.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-33585 Filed 12-23-97; 8:45 am]
BILLING CODE 8010-01-M
