[Federal Register Volume 62, Number 203 (Tuesday, October 21, 1997)]
[Notices]
[Page 54659]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-27762]


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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.
    Extention: Rule 17a-23 and Form 17A-23; SEC File No. 270-387; 
OMB Control No. 3235-0442.

    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.

<bullet> Rule 17a-23 and Form 17A-23 Recordkeeping and Reporting 
Requirements Relating to Broker-Dealer Trading Systems

    Rule 17a-23 and Form 17A-23, under the Securities Exchange Act of 
1934 establish recordkeeping and reporting requirements for 
approximately 143 registered broker-dealers that operate certain 
automated trading systems (``Broker-Dealer Trading System'' or 
``BDTS''). Rule 17a-23 requires any registered broker-dealer that 
sponsors a BDTS to maintain participant, volume, and transaction 
records. Rule 17a-23 and Form 17A-23 also require system sponsors to 
submit three reports to the Commission and, under certain 
circumstances, to an appropriate self-regulatory organization. These 
recordkeeping requirements assist the Commission with monitoring broke-
dealers that operate BDTSs and with ensuring compliance with Rule 17a-
23.
    The Commission staff estimates the average number of hours 
necessary for each BDTS sponsor to comply with Rule 17a-23 is 46 hours 
annually. The total burden is 6,542 hours annually for the broker-
dealers operating BDTSs, based upon past submissions. The average cost 
per hour is approximately $7.00. Therefore, the total annual cost of 
compliance for the 143 broker-dealers operating BDTSs is $46,046.00.
    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 on 
respondents, including through the use 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 Michael E. Bartell, 
Associate Executive Director, Office of Information Technology, 
Securities and Exchange Commission, 450 Fifth Street, N.W. Washington, 
D.C. 20549.

    Dated: October 14, 1997.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-27762 Filed 10-20-97; 8:45 am]
BILLING CODE 8010-01-M