[Federal Register Volume 62, Number 43 (Wednesday, March 5, 1997)]
[Notices]
[Page 10098]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-5372]
[[Page 10098]]
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SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; Comment Request
Extension.
Reproposed Rule 13h-1, SEC File No. 270-358, OMB Control No. 3235-
0408.
Rule 19d-2, SEC File No. 270-204, OMB Control No. 3235-0205.
Upon Written Request, Copies Available From: Securities and
Exchange Commission, Office of Filings and Information Services,
Washington, DC 20549.
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 requests for approval of extension on previously approved
collections of information:
Reproposed Rule 13h-1 was proposed pursuant to Section 13 of the
Securities Exchange Act of 1934 (the ``Act'').\1\ Rule 13h-1 will
enable the Commission to gather timely large trader information in the
form necessary for the reconstruction of trading activity in periods of
market stress and for surveillance, enforcement, and other regulatory
purposes. Without this information, the Commission would not be able to
perform the reconstructions of trading activity necessary for
evaluating periods of markets stress and other regulatory purposes.
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\1\ Section 13 of the Act was amended by the addition of
Subsection (h) (15 U.S.C. Sec. 78m(h) (1990)) when Section 3 of the
Market Reform Act of 1990 (Pub. L. No. 101-432, 104 Stat. 963
(1990)) was enacted.
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The staff estimates that there are 630 broker-dealers that will be
subject to the recordkeeping and reporting requirements of the
reproposed rule. In addition, the staff estimates, based upon analysis
of previous requests for similar information, that 750 investors will
be large traders subject to the identification requirements of the
reproposed rule. Therefore, the Staff estimates that there will be
(630+750=1,380) 1,380 respondents under the reproposed rule.
Precise cost estimates are impossible to calculate because the
commentators on the original proposal did not provide specific details
on costs. Nevertheless, the staff estimates that annually the 1,380
respondents will require approximately 11,444 hours to comply with the
reproposed rule. Further, the staff estimates that, on average, each
response hour will cost approximately $12.00, and therefore the total
annual cost of complying with the rule will be approximately $137,328.
Rule 19d-2 under the Act prescribes the form and content of
applications of the Commission by persons desiring stays of final
disciplinary sanctions and summary action of self-regulatory
organizations (``SROs'') for which the Commission is the appropriate
regulatory agency.
It is estimated that approximately 30 respondents will utilize this
application procedure annually, with a total burden of 90 hours, based
upon past submissions. The staff estimates that the average number of
hours necessary to comply with the requirements of Rule 19d-2 is 3
hours. The average cost per hour is approximately $30. Therefore, the
total cost of compliance for the respondents is $2,700.
General comments regarding the estimated burden hours should be
directed to the Desk Officer for the Securities and Exchange Commission
at the address below. Any comments concerning the accuracy of the
estimated average burden hours for compliance with Commission rules and
forms should be directed to Michael E. Bartell, Associate Executive
Director, Office of Information Technology, Securities and Exchange
Commission, 450 Fifth Street, N.W., Washington, D.C. 20549 and 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.
Dated: February 26, 1997.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-5372 Filed 3-4-97; 8:45 am]
BILLING CODE 8010-01-M
