[Federal Register Volume 66, Number 122 (Monday, June 25, 2001)]
[Notices]
[Pages 33720-33721]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-15847]


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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 15Ba2-1 and Form MSD, SEC File No. 270-88, OMB Control No. 
3235-0083
    Rule 17a-3(a)(16), SEC File No. 270-452, OMB Control No. 3235-
0508
    Rule 17a-4(b)(10), SEC File No. 270-449, OMB Control No. 3235-
0506

    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 requests for extension of the previously approved 
collections of information discussed below.
    Rule 15Ba2-1 under the Securities Exchange Act of 1934 (``Act'') 
provides that an application for registration with the Commission by a 
bank municipal securities dealer must be filed on Form MSD. The 
Commission uses the information contained in Form MSD to determine 
whether bank municipal securities dealers meet the standards for 
registration set forth in the Act, to develop a central registry where 
members of the public may obtain information about particular bank 
municipal securities dealers, and to develop statistical information 
about bank municipal securities dealers.
    The staff estimates that approximately 32 respondents will utilize 
this application procedure annually, with a total burden of 48 hours, 
based upon past submissions. The staff estimates that the average 
number of hours necessary to comply with the requirements of Rule 
15Ba2-1 is 1.5 hours.
    Rule 15Ba2-1 does not contain an explicit recordkeeping 
requirement, but the rule does require the prompt correction of any 
information on Form MSD that becomes inaccurate, meaning that bank 
municipal securities dealers need to maintain a current copy of Form 
MSD indefinitely.
    Providing the information on the application is mandatory in order 
to register with the Commission as a bank municipal securities dealer. 
The information contained in the application will not be kept 
confidential.
    Rule 17a-3(a)(16) under the Act identifies the records to be made 
by broker-dealers that operate internal broker-dealer systems. Those 
records are to be used in monitoring compliance with the Commission's 
financial responsibility program and antifraud and antimanipulative 
rules, as well as other rules and regulations of the Commission and the 
self-regulatory organizations. It is estimated that approximately 105 
active broker-dealer respondents registered with the Commission incur 
an average burden of 2,835 hours per year to comply with this rule.
    Rule 17a-3 does not contain retention requirements. Compliance with 
the rule is mandatory. The required records are available only to the 
examination staff

[[Page 33721]]

of the Commission and the self-regulatory organization of which the 
broker-dealer is a member.
    Rule 17a-4(b)(10) under the Act describes the record preservation 
requirements for those records required to be kept pursuant to Rule 
17a-3(a)(16), including how such records should be kept and for how 
long, to be used in monitoring compliance with the Commission's 
financial responsibility program and antifraud and antimanipulative 
rules as well as other rules and regulations of the Commission and the 
self-regulatory organizations. It is estimated that approximately 105 
active broker-dealer respondents registered with the Commission incur 
an average burden of 315 hours per year to comply with this rule.
    Under Rule 17a-4(a)(10) broker-dealers are required to retain 
records for a period of not less than three years. Compliance with the 
rule is mandatory. The required records are available only to the 
examination staff of the Commission and the self-regulatory 
organization of which the broker-dealer is a member.
    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.
    General comments regarding the estimated burden hours should be 
directed to the following persons: (i) Desk Officer for the Securities 
and Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, DC 20503; and (ii) Michael E. Bartell, Associate 
Executive Director, Office of Information Technology, Securities and 
Exchange Commission, 450 Fifth Street, N.W., Washington, DC 20549. 
Comments must be submitted to OMB within 30 days of this notice.

    Dated: June 18, 2001.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-15847 Filed 6-22-01; 8:45 am]
BILLING CODE 8010-01-M