[Federal Register Volume 59, Number 68 (Friday, April 8, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-8436]
[[Page Unknown]]
[Federal Register: April 8, 1994]
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SECURITIES AND EXCHANGE COMMISSION
Under Review by the Office of Management and Budget
Agency Clearance Officer: John J. Lane, (202) 942-8800.
Upon Written Request Copy Available From: Securities and Exchange
Commission, Office of Filings and Information Services, 450 Fifth
Street, NW., Washington, DC 20549.
Extension: Rule 15Ba2-1 and Form MSD: File No. 270-88.
Proposed Revisions: Rule 204-2: File No. 270-215.
New: Proposed Rule 10b-10--File No. 270-389; Proposed Rule 15c2-
13--File No. 270-390.
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1980 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission has submitted to the Office of Management and Budget
approval for following rules and forms:
Rule 15Ba2-1 and Form MSD, pursuant to the Securities Exchange Act
of 1934, provides the form of application for registration with the
Commission by bank municipal securities dealers. Approximately forty
respondents incur an estimated average of one and one-half burden hours
to comply with this rule.
Proposed amendments to Rule 204-2 is the general recordkeeping rule
under the Investment Advisers Act of 1940 (``Advisers Act''). Proposed
paragraph (a)(17) of rule 204-2 would require investment advisers
subject to the recordkeeping requirements of the Advisers Act to retain
in their records any documents that the advisers receive describing
their clients' financial situations, investment experience, and
investment objectives. Proposed paragraph (a)(18) of rule 204-2 would
require advisers to retain in their records copies of custodian account
statements received by the advisers.
The Commission estimates that the total increase in the annual
burden associated with rule 204-2 would be 1,150,511 hours.
Approximately 818,048 hours are attributable to an increase in the
number of registered investment advisers, and 332,463 hours are
attributable to the proposed amendments to rule 204-2. The total burden
for rule 204-2 would be increased from 3,703,616 hours to 4,854,127
hours.
Proposed Rule 10b-10 pursuant to the Securities Exchange Act of
1934, requires broker-dealers effecting transactions in securities to
provide written notification to the customer at or before the
completion of the transaction that discloses information about the
transaction. It is estimated that 3,900 broker-dealers currently spend
84.6 million hours complying with Rule 10b-10 annually.
Proposed Rule 15c2-13 pursuant to the Securities Exchange Act of
1934, requires broker-dealers effecting transactions in municipal
securities to provide written notification to the customer at or before
the completion of the transaction that discloses information about the
transaction. It is anticipated that 400 brokers, dealers, and municipal
securities dealers will spend 49.8 million hours complying with Rule
15c2-13 annually.
General comments may be directed to Gary Waxman at the address
below. Comments concerning the accuracy of the estimated average burden
hours for compliance with SEC rules and forms should be directed to
John J. Lane, Associate Executive Director, Securities and Exchange
Commission, 450 5th Street NW., Washington, DC 20549 and Gary Waxman,
Clearance Officer, Office of Information and Regulatory Affairs,
Paperwork Reduction Act Numbers 3235-0083, and 3235-0278, Office of
Management and Budget, room 3208, New Executive Office Building,
Washington, DC 20503.
Dated: March 23, 1994.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 94-8436 Filed 4-7-94; 8:45 am]
BILLING CODE 8010-01-M
