38436 Federal Register / Vol. 63, No. 136 /Thursday, July 16, 1998 / Notices

RAILROAD RETIREMENT BOARD

Agency Forms Submitted for OMB

Review

SUMMARY: In accordance with the

Paperwork Reduction Act of 1995 (44

U.S.C. Chapter 35), the Railroad

Retirement Board (RRB) has submitted

the following proposal(s) for the

collection of information to the Office of

Management and Budget for review and

approval.

Summary of Proposal(s)

(1) Collection title: Employer Service

and Compensation Reports.

(2) Form(s) submitted: UI–41, UI–41a.

(3) OMB Number: 3220–0070.

(4) Expiration date of current OMB

clearance: 9/30/1998.

(5) Type of request: Revision of a

currently approved collection.

(6) Respondents: Business or other for

profit.

(7) Estimated annual number of

respondents: 30.

(8) Total annual responses: 4,500.

(9) Total annual reporting hours: 600.

(10) Collection description: The

reports obtain the employee’s service

and compensation for a period

subsequent to those already on file and

the employee’s base year compensation.

The information is used to determine

the entitlement to and the amount of

benefits payable.

ADDITIONAL INFORMATION OR COMMENTS:

Copies of the form and supporting

documents can be obtained from Chuck

Mierzwa, the agency clearance officer

(312–751–3363). Comments regarding

the information collection should be

addressed to Ronald J. Hodapp, Railroad

Retirement Board, 844 North Rush

Street, Chicago, Illinois 60611–2092 and

the OMB reviewer, Laura Oliven (202–

395–7316), Office of Management and

Budget, Room 10230, New Executive

Office Building, Washington, DC 20503.

Chuck Mierzwa,

Clearance Officer.

[FR Doc. 98–18898 Filed 7–15–98; 8:45 am]

BILLING CODE 7905–01–M

SECURITIES AND EXCHANGE

COMMISSION

Proposed Collection; Comment

Request

Existing collection in use without an

OMB Number: Rule 8c–1; SEC File

No. 270–455; OMB Control No.

3235—new

Upon Written Request, Copies Available

From: Securities and Exchange Commission,

Office of Filings and Information Services,

Washington, DC 20549.

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 Approval.

Rule 8c–1 generally prohibits a

broker-dealer from using its customers’

securities as collateral to finance its own

trading, speculating, or underwriting

transactions. More specifically, the rule

states three main principles: first, that a

broker-dealer is prohibited from

commingling the securities of different

customers as collateral for a loan

without the consent of each customer;

second, that a broker-dealer cannot

commingle customers’ securities with

its own securities under the same

pledge; and third, that a broker-dealer

can only pledge its customers’ securities

to the extent that customers are in debt

to the broker-dealer. See Securities

Exchange Act Release No. 2690

(November 15, 1940); Securities

Exchange Act Release No. 9428

(December 29, 1971). Pursuant to Rule

8c–1, respondents must collect

information necessary to prevent the

rehypothecation of customer accounts

in contravention of the rule, issue and

retain copies of notices to the pledgee of

hypothecation of customer accounts in

accordance with the rule, and collect

written consents from customers in

accordance with the rule. The

information is necessary to ensure

compliance with the rule, and to advise

customers of the rule’s protections.

There are approximately 258

respondents per year (i.e., brokerdealers that carry or clear customer

accounts that also have bank loans) that

require an aggregate total of 5,805 hours

to comply with the rule. Each of these

approximately 258 registered brokerdealers makes an estimated 45 annual

responses, for an aggregate total of

11,610 responses per year. Each

response takes approximately 0.5 hours

to complete. Thus, the total compliance

burden per year is 5,805 burden hours.

The approximate cost per hour is $20,

resulting in a total cost of compliance

for the respondents of $116,100 (5,805

hours @ $20 per hour).

Written comments are invited on: (a)

Whether the 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 estimate 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.

Direct your written comments to

Michael E. Bartell, Associate Executive

Director, Office of Information

Technology, Securities and Exchange

Commission, 450 5th Street, N.W.,

Washington, DC 20549.

Dated: July 9, 1998.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 98–18904 Filed 7–15–98; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

Submission for OMB Review;

Comment Request

Extension: Rule 15Bc3–1; Form MSDW;

SEC File No. 270–98; OMB Control No.

3235–0087

Upon Written Request, Copies Available

From: Securities and Exchange

Commission, Office of Filings and

Information Services, Washington, DC

20549

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

(‘‘OMB’’) a request for approval of

extension on the following rule: Rule

15Bc3–1.

Rule 15Bc3–1 under the Securities

Exchange Act of 1934 provides that a

notice of withdrawal from registration

with the Commission as a bank

municipal securities dealer must be

filed on Form MSDW.

Approximately 20 respondents will

utilize this notice annually, with a total

burden of 10 hours. The average number

of hours necessary to comply with the

requirements of Rule 15Bc3–1 is .5

hours. The average cost per hour is

approximately $40. Therefore, the total

cost of compliance for the respondents

is $400.

Providing the information on the

notice is mandatory in order to

withdraw from registration with the

Commission as a bank municipal

securities dealer. The information

contained in the notice will not be

confidential. An agency may not