[Federal Register Volume 66, Number 114 (Wednesday, June 13, 2001)]
[Notices]
[Page 31952]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-14870]


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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 15a-6, SEC File No. 270-329, OMB Control No. 3235-
0371
    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 extension of the previously approved 
collection of information discussed below.
    Rule 15a-6 under the Securities Exchange Act of 1934 provides, 
among other things, an exemption from broker-dealer registration for 
foreign broker-dealers that effect trades with or for U.S. 
institutional investors through a U.S. registered broker-dealer, 
provided that the U.S. broker-dealer obtains certain information about, 
and consents to service of process from, the personnel of the foreign 
broker-dealer involved in such transactions, and maintains certain 
records in connection therewith.
    These requirements are intended to ensure (a) that the U.S. broker-
dealer will receive notice of the identity of, and has reviewed the 
background of, foreign personnel who will contact U.S. institutional 
investors, (b) that the foreign broker-dealer and its personnel 
effectively may be served with process in the event enforcement action 
is necessary, and (c) that the Commission has ready access to 
information concerning these persons and their U.S. securities 
activities.
    In general, the records to be maintained under Rule 15a-6 must be 
kept for the applicable time periods as set forth in Rule 17a-4 under 
the Exchange Act or, with respect to the consents to service of 
process, for a period of not less than six years after the applicable 
person ceases engaging in U.S. securities activities. Reliance on the 
exemption set forth in Rule 15a-6 is voluntary, but if a foreign 
broker-dealer elects to rely on such exemption, the collection of 
information described therein is mandatory. The collection does not 
involve confidential information. It is estimated that approximately 
2,000 respondents will incur an average burden of three hours per year 
to comply with this rule, for a total burden of 6,000 hours. At an 
average cost per hour of approximately $100, the resultant total cost 
of compliance for the respondents is $600,000 per year (2,000 entities 
x  3 hours/entity  x  $100/hour = $600,000).
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless it displays a 
currently valid control number.
    Written comments regarding the above information should be directed 
to the following persons: (a) Desk Office of the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, D.C. 20503; and (b) Michael E. Bartell, Associate 
Executive Director, Office of Information Technology, Securities and 
Exchange Commission, 450 Fifth Street, N.W., Washington, D.C. 20549. 
Comments must be submitted to the Office of Management and Budget 
within 30 days of this notice.

    Dated: June 6, 2001.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-14870 Filed 6-12-01; 8:45 am]
BILLING CODE 8010-01-M