96-8988. Proposed Collection; Comment Request

[Federal Register Volume 61, Number 71 (Thursday, April 11, 1996)]
[Notices]
[Pages 16146-16147]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-8988]



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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549
Extension:
    Rule 17f-4
    SEC File No. 270-232
    OMB Control No. 3235-0225

    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 publishing for public comment the 
following summary of previously approved information collection 
requirements.
    Rule 17f-4 [17 CFR 270.17f-4] under the Investment Company Act of 
1940 [15 U.S.C. 80a-1 et seq.] (the ``Act'') specifies conditions under 
which a registered management investment company or its custodian may 
place the company's securities in a securities depository. The rule 
requires a custodian to provide confirmations and keep records of 
transactions, and requires the custodian, its agents, and depositories 
to provide reports on internal accounting controls. Confirmations and 
records give the company objective evidence of transactions performed 
on its behalf. Reports on internal controls provide information 
necessary to evaluate the safety of depository arrangements.

[[Page 16147]]

    Approximately 100 custodians are subject to the requirement to 
provide confirmations and keep records, and those custodians and 
approximately 150 other agents and six depositories are subject to the 
requirement to provide internal control reports. The 256 respondents 
make approximately 25,256 responses and spend approximately 25,256 
hours annually in complying with the reporting and recordkeeping 
requirements of the rule.
    The estimates of burden hours are made solely for the purposes of 
the Paperwork Reduction Act, and are not derived from a comprehensive 
or even a representative survey or study.
    Written comments are requested on: (a) Whether the collections of 
information are necessary for the proper performance of the functions 
of the Commission, including whether the information has practical 
utility; (b) the accuracy of the Commission's estimate of the burdens 
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 within 60 days of this 
publication.
    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: April 3, 1996.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-8988 Filed 4-10-96; 8:45 am]
BILLING CODE 8010-01-M