Document ID: SEC-2008-1428-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2008-10-15T04:00Z

[Federal Register: October 15, 2008 (Volume 73, Number 200)]
[Notices]               
[Page 61176]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr15oc08-146]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Extension of Existing Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213

Extension:
    Rule 15c2-1, SEC File No. 270-418, OMB Control No. 3235-0485.

    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 publishing the following summaries of 
collections for public comment.
    Rule 15c2-1 (17 CFR 240.15c2-1) prohibits the commingling under the 
same lien of securities of margin customers (a) with other customers 
without their written consent and (b) with the broker or dealer. The 
rule also prohibits the rehypothecation of customers' margin securities 
for a sum in excess of the customer's aggregate indebtedness. See 
Securities Exchange Act Release No. 2690 (November 15, 1940); 
Securities Exchange Act Release No. 9428 (December 29, 1971). Pursuant 
to Rule 15c2-1, respondents must collect information necessary to 
prevent the rehypothecation of customer securities in contravention of 
the rule, issue and retain copies of notices of hypothecation of 
customer securities 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 126 respondents (i.e., broker-dealers that 
carry or clear customer accounts that also have bank loans) that 
require an aggregate total of 2,835 hours to comply with the rule. Each 
of these approximately 126 registered broker-dealers makes an estimated 
45 annual responses. Each response takes approximately 0.5 hours to 
complete. Thus, the total compliance burden per year is 2,835 burden 
hours.
    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 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.
    Please direct your written comments to Lewis W. Walker, Acting 
Director/Chief Information Officer, Securities and Exchange Commission, 
C/O Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 
22312; or send an e-mail to: PRA_Mailbox@sec.gov.

    Dated: October 6, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-24344 Filed 10-14-08; 8:45 am]

BILLING CODE 8011-01-P