97-33586. Submission for OMB Review; Comment Request  

  • [Federal Register Volume 62, Number 247 (Wednesday, December 24, 1997)]
    [Notices]
    [Pages 67419-67420]
    From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
    [FR Doc No: 97-33586]
    
    
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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 15c3-3, SEC File No. 270-87, OMB Control No. 3235-0078
    
    
    [[Page 67420]]
    
    
        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 15c3-3  Customer Protection--Reserves and Custody of 
    Securities
    
        Rule 15c3-3 (``Rule'') requires registered broker-dealers to 
    maintain certain records in connection with their compliance with the 
    Rule's requirements that broker-dealers maintain possession and control 
    of and segregate customer funds and securities. Commission staff 
    estimates that the average number of hours necessary for each broker-
    dealer to make the required computations pursuant to the Rule is 2.5 
    hours per response. In order to demonstrate compliance with the Rule, 
    approximately 326 broker-dealers choose to make a weekly computation 
    and 127 broker-dealers choose to make a monthly computation. 
    Accordingly, the total is approximately 48,290 hours annually for all 
    broker-dealers, based upon past submissions. The average cost per hour 
    is approximately $60. Consequently, the staff estimates that the total 
    cost of compliance with the Rule for all broker-dealers is $2,897,400.
        The retention period for the recordkeeping requirement under the 
    Rule is three years following the date of a report prepared pursuant to 
    the rule. The recordkeeping requirement under the Rule is mandatory to 
    assist the Commission with monitoring broker-dealers and ensuring 
    compliance with the Rule. The information collected under this Rule is 
    kept confidential to the extent permitted by the Freedom of Information 
    Act and any other applicable law. 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.
        Written comments regarding the above information 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 15, 1997.
    Margaret H. McFarland,
    Deputy Secretary.
    [FR Doc. 97-33586 Filed 12-23-97; 8:45 am]
    BILLING CODE 8010-01-M
    
    
    

Document Information

Published:
12/24/1997
Department:
Securities and Exchange Commission
Entry Type:
Notice
Document Number:
97-33586
Pages:
67419-67420 (2 pages)
PDF File:
97-33586.pdf