[Federal Register Volume 66, Number 89 (Tuesday, May 8, 2001)]
[Notices]
[Page 23281]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-11517]


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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 17f-1(g), SEC File No. 270-30, OMB Control No. 3235-0290

    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 17f-1(g) Requirements for reporting and inquiry with 
respect to missing, lost, counterfeit or stolen securities.
    Paragraph (g) of Rule 17f-1 requires that all reporting 
institutions (i.e., every national securities exchange, member thereof, 
registered securities association, broker, dealer, municipal securities 
dealer, registered transfer agent, registered clearing agency, 
participant therein, member of the Federal Reserve System and bank 
insured by the FDIC) maintain and preserve a number of documents 
related to their participation in the Lost and Stolen Securities 
Program (``Program'') under Rule 17f-1. The following documents must be 
kept in an easily accessible place for three years, according to 
paragraph (g): (1) Copies of all reports of theft or loss (Form X-17F-
1A) filed with the Commission's designee: (2) all agreements between 
reporting institutions regarding registration in the Program or other 
aspects of Rule 17f-1; and (3) all confirmations or other information 
received from the Commission or its designee as a result of inquiry.
    Reports institutions utilize these records and reports (a) to 
report missing, lost, stolen or counterfeit securities to the database, 
(b) to confirm inquiry of the database, and (c) to demonstrate 
compliance with Rule 17f-1. The Commission and the reporting 
institutions' examining authorities utilize these records to monitor 
the incidence of thefts and losses incurred by reporting institutions 
and to determine compliance with Rule 17f-1. If such records were not 
retained by reporting institutions, compliance with Rule 17f-1 could 
not be monitored effectively.
    The Commission estimates that there are 25,824 reporting 
institutions (respondents) and, on average, each respondent would need 
to retain 33 records annually, with each retention requiring 
approximately 1 minute (33 minutes or .55 hours). The total estimated 
annual burden is 14,203.2 hours (25,824  x  .55 hours = 14,203.2). 
Assuming an average hourly cost for clerical work of $18.75, the 
average total yearly record retention cost for each respondent would be 
$10.30. Based on these estimates, the total annual cost for the 
estimated 25,824 reporting institution would be approximately $265,987.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions to 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 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 comment 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 5th Street, N.W., Washington, 
D.C. 20549.

    Dated: May 1, 2001.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-11517 Filed 5-7-01; 8:45 am]
BILLING CODE 8010-01-M