[Federal Register Volume 64, Number 152 (Monday, August 9, 1999)]
[Notices]
[Page 43232]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-20412]
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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 17f-2(d), SEC File No. 270-36, OMB Control No. 3235-0028
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 approval of extension on the following rule:
Rule 17f-2(d) was adopted on March 16, 1976, and was last amended
on November 18, 1982. Paragraph (d) of rule (i) requires that records
produced pursuant to the fingerprinting requirements of Section
17(f)(2) of the Securities Exchange Act of 1934 (``Exchange Act'') be
maintained, (ii) permits the designating examining authorities of
broker-dealers or members of exchanges, under certain circumstances, to
store and to maintain records required to be kept by this rule, and
(iii) permits the required records to be maintained on microfilm.
The general purposes for Rule 17f-2 are: (i) To identify security
risk personnel; (ii) to provide criminal record information so that
employers can make fully informed employment decisions; and (iii) to
deter persons with criminal records from seeking employment or
association with covered entities.
Retention of fingerprint records, as required under paragraph (d)
of the Rule, enables the Commission or other examining authority to
ascertain whether all required persons are being fingerprinted and
whether proper procedures regarding fingerprinting are being followed.
Retention of these records for the term of employment of all personnel
plus three years ensures that law enforcement officials will have easy
access to fingerprint cards on a timely basis. This in turn acts as an
effective deterrent to employee misconduct.
Approximately 9,614 respondents are subject to the recordkeeping
requirements of the rule. Each respondent keeps approximately 32 new
records per year, which takes approximately 2 minutes per record for
the respondent to maintain, for an annual burden of 64 minutes per
respondent. All records subject to the rule must be retained for the
term of employment plus 3 years. The Commission estimates that the
total annual cost to submitting entities is approximately $196,850.
This figure reflects estimated costs of labor and storage of records.
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, 725 17th St., NW., Washington, DC
20503; and (ii) Michael E. Bartell, Associate Executive Director,
Office of Information Technology, Securities and Exchange Commission,
450 Fifth Street, NW., Washington, DC 20549. Comments must be submitted
to OMB within 30 days of this notice.
Dated: July 30, 1999.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-20412 Filed 8-6-99; 8:45 am]
BILLING CODE 8010-01-M
