[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
