Proposed Collection; Comment Request, 31549 [E5-2754]
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Federal Register / Vol. 70, No. 104 / Wednesday, June 1, 2005 / Notices
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 17a–22; SEC File No. 270–202; OMB
Control No. 3235–0196.
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 collection 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 17a–22 Supplemental Material
of Registered Clearing Agencies Rule
17a–22 under the Securities Exchange
Act of 1934 (‘‘Exchange Act’’) 1 requires
all registered clearing agencies to file
with the Commission three copies of all
materials they issue or make generally
available to their participants or other
entities with whom they have a
significant relationship. The filings with
the Commission must be made within
ten days after the materials are issued,
and when the Commission is not the
appropriate regulatory agency, the
clearing agency must file one copy of
the material with its appropriate
regulatory agency. The Commission is
responsible for overseeing clearing
agencies and uses the information filed
pursuant to Rule 17a–22 to determine
whether a clearing agency is
implementing procedural or policy
changes. The information filed aides the
Commission in determining whether
such changes are consistent with the
purposes of Section 17A of the
Exchange Act. Also, the Commission
uses the information to determine
whether a clearing agency has changed
its rules without reporting the actual or
prospective change to the Commission
as required under Section 19(b) of the
Exchange Act.
The respondents to Rule 17a–22
generally are registered clearing
agencies. The frequency of filings made
by clearing agencies pursuant to Rule
17a–22 varies, but on average there are
approximately 200 filings per year per
clearing agency. Because the filings
consist of materials that have been
prepared for widespread distribution,
1 15
U.S.C. 78a et seq.
VerDate jul<14>2003
16:22 May 30, 2005
Jkt 205001
the additional cost to the clearing
agencies associated with submitting
copies to the Commission is relatively
small. The Commission staff estimates
that the cost of compliance with Rule
17a–22 to all registered clearing
agencies is approximately $3,000. This
represents one dollar per filing in
postage, or a total of $2,000. The
remaining $1,000 is the estimated cost
of additional printing, envelopes, and
other administrative expenses.
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 shall have practical utility;
(b) the accuracy of the agency’s
estimates of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information to be 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.
Please direct your written comments
to R. Corey Booth, Chief Information
Officer, 450 5th Street, NW.,
Washington, DC 20549.
Dated: May 13, 2005.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–2754 Filed 5–31–05; 8:45 am]
BILLING CODE 8010–01–P
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 15c2–5; SEC File No. 270–195; OMB
Control No. 3235–0198.
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 collection 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. The Code of Federal
PO 00000
Frm 00139
Fmt 4703
Sfmt 4703
31549
Regulations citation to this collection of
information is the following rule: 17
CFR 240.15c2–5.
Rule 15c2–5 prohibits a broker-dealer
from arranging or extending certain
loans to persons in connection with the
offer or sale of securities unless, before
any element of the transaction is entered
into, the broker-dealer: (1) Delivers to
the person a written statement
containing the exact nature and extent
of the person’s obligations under the
loan arrangement; the risks and
disadvantages of the loan arrangement;
and all commissions, discounts, and
other remuneration received and to be
received in connection with the
transaction by the broker-dealer or
certain related persons (unless the
person receives certain materials from
the lender or broker-dealer which
contain the required information); and
(2) obtains from the person information
on the person’s financial situation and
needs, reasonably determines that the
transaction is suitable for the person,
and retains on file and makes available
to the person on request a written
statement setting forth the brokerdealer’s basis for determining that the
transaction was suitable.
The collection of information required
by the Rule is necessary to execute the
Commission’s mandate under the
Securities Exchange Act of 1934
(‘‘Exchange Act’’) to prevent fraudulent,
manipulative, and deceptive acts and
practices by broker-dealers.
There are approximately 50
respondents that require an aggregate
total of 600 hours to comply with the
Rule. Each of these approximately 50
registered broker-dealers makes an
estimated 6 annual responses, for an
aggregate total of 300 responses per
year. Each response takes approximately
2 hours to complete. Thus, the total
compliance burden per year is 600
burden hours. The approximate cost per
hour is $25.00 (based on an annual
salary of $52,000 for clerical labor),
resulting in a total compliance cost of
$15,000 (600 hours @ $25.00 per hour).
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
E:\FR\FM\01JNN1.SGM
01JNN1
]]>Agencies
[Federal Register Volume 70, Number 104 (Wednesday, June 1, 2005)]
[Notices]
[Page 31549]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-2754]
[[Page 31549]]
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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 17a-22; SEC File No. 270-202; OMB Control No. 3235-0196.
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 collection 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 17a-22 Supplemental Material of Registered Clearing
Agencies Rule 17a-22 under the Securities Exchange Act of 1934
(``Exchange Act'') \1\ requires all registered clearing agencies to
file with the Commission three copies of all materials they issue or
make generally available to their participants or other entities with
whom they have a significant relationship. The filings with the
Commission must be made within ten days after the materials are issued,
and when the Commission is not the appropriate regulatory agency, the
clearing agency must file one copy of the material with its appropriate
regulatory agency. The Commission is responsible for overseeing
clearing agencies and uses the information filed pursuant to Rule 17a-
22 to determine whether a clearing agency is implementing procedural or
policy changes. The information filed aides the Commission in
determining whether such changes are consistent with the purposes of
Section 17A of the Exchange Act. Also, the Commission uses the
information to determine whether a clearing agency has changed its
rules without reporting the actual or prospective change to the
Commission as required under Section 19(b) of the Exchange Act.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78a et seq.
---------------------------------------------------------------------------
The respondents to Rule 17a-22 generally are registered clearing
agencies. The frequency of filings made by clearing agencies pursuant
to Rule 17a-22 varies, but on average there are approximately 200
filings per year per clearing agency. Because the filings consist of
materials that have been prepared for widespread distribution, the
additional cost to the clearing agencies associated with submitting
copies to the Commission is relatively small. The Commission staff
estimates that the cost of compliance with Rule 17a-22 to all
registered clearing agencies is approximately $3,000. This represents
one dollar per filing in postage, or a total of $2,000. The remaining
$1,000 is the estimated cost of additional printing, envelopes, and
other administrative expenses.
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 shall
have practical utility; (b) the accuracy of the agency's estimates of
the burden of the proposed collection of information; (c) ways to
enhance the quality, utility, and clarity of the information to be
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.
Please direct your written comments to R. Corey Booth, Chief
Information Officer, 450 5th Street, NW., Washington, DC 20549.
Dated: May 13, 2005.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5-2754 Filed 5-31-05; 8:45 am]
BILLING CODE 8010-01-P
