[Federal Register Volume 63, Number 40 (Monday, March 2, 1998)]
[Notices]
[Pages 10249-10250]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-5253]
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SECURITIES AND EXCHANGE COMMISSION
Request for Public Comment
Upon written request, copies available from: Securities and Exchange
Commission, Office of Filings and Information Services, Washington, DC
20549
Extension:
Rule 15a-6, SEC File No. 270-0329, OMB Control No. 3235-0371
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 collections 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 15a-6 [17 CFR 240.15a-6] under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.), which provides, among other things, an
exemption from broker-dealer registration for foreign broker-dealers
that effect trades with or for U.S. institutional investors through a
U.S. registered broker-dealer, provided that the U.S. broker-dealer
obtains certain information about, and consents to service of process
from, the personnel of the foreign broker-dealer involved in such
transactions, and maintains certain records in connection therewith.
These requirements are intended to ensure (a) that the U.S. broker-
dealer will receive notice of the identity of, and has reviewed the
background of, foreign personnel who will contact U.S. institutional
investors, (b) that the foreign broker-dealer and its personnel
effectively may be served with process in the event enforcement action
is necessary, and (c) that the Securities and Exchange Commission has
ready access to information concerning these persons and their U.S.
securities activities.
It is estimated that approximately 2,000 respondents will incur an
average burden of three hours per year to comply with this rule, for a
total burden of 6,000 hours. The average cost per hour is approximately
$100. Therefore, the total cost of compliance for the respondents is
$600,000.
[[Page 10250]]
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 will
have practical utility; (b) the accuracy of the agency's estimate of
the burden of the collection of information; (c) ways to enhance the
quality, utility, and clarity of the information 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 on or before
May 1, 1998.
Please direct your written comments to Michael E. Bartell,
Associate Executive Director, Office of Information Technology,
Securities and Exchange Commission, 450 5th Street, NW., Washington, DC
20549.
Dated: February 23, 1998.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 98-5253 Filed 2-27-98; 8:45 am]
BILLING CODE 8010-01-M
