Document ID: SEC-2007-0200-0001
Agency: sec
Document Type: Notice
Title: Agency information collection activities; proposals, submissions, and approvals
Posted Date: 2007-02-08T05:00Z

[Federal Register: February 8, 2007 (Volume 72, Number 26)]
[Notices]               
[Page 6013]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr08fe07-84]                         

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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 10b-10, SEC File No. 270-389, OMB Control No. 3235-
0444.

    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.
     Rule 10b-10; Confirmation of Transactions.
    Rule 10b-10 (17 CFR 240.10b-10) of the Securities Exchange Act of 
1934 (17 U.S.C. 78a et seq.) requires broker-dealers to convey basic 
trade information to customers regarding their securities transactions. 
This information includes: the date and time of the transaction, the 
identity and number of shares bought or sold, and the trading capacity 
of the broker-dealer. Depending on the trading capacity of the broker-
dealer, the Rule requires the disclosure of commissions as well as 
mark-up and mark-down information. For transactions in debt securities, 
the Rule requires the disclosure of redemption and yield information. 
The Rule potentially applies to all of the approximately 6,014 firms 
registered with the Commission that affect transactions on behalf of 
customers.
    The confirmations required by Rule 10b-10 are generally processed 
through automated systems. It takes approximately 1 minute to generate 
and send a confirmation. It is estimated that broker-dealers spend 77.4 
million hours per year complying with Rule 10b-10.
    The Commission staff estimates the costs of producing and sending a 
paper confirmation, including postage, to be approximately 91 cents. 
The Commission staff also estimates that the cost of producing and 
sending a wholly electronic confirmation is approximately 52 cents. The 
amount of confirmations sent and the cost of sending each confirmation 
varies from firm to firm. Smaller firms generally send fewer 
confirmations than larger firms because they affect fewer transactions.
    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 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 R. Corey Booth, Director/Chief 
Information Officer, Securities and Exchange Commission, C/O Shirley 
Martinson, 6432 General Green Way, Alexandria, VA 22312 or send an e-
mail to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 
60 days of this notice.

    Dated: January 31, 2007.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-2086 Filed 2-7-07; 8:45 am]

BILLING CODE 8010-01-P