Document ID: SEC-2008-1698-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2008-12-18T05:00Z

[Federal Register: December 18, 2008 (Volume 73, Number 244)]
[Notices]               
[Page 77081]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr18de08-118]                         

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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 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'') has submitted to the Office of Management 
and Budget requests for approval of extension on the following rule: 
Rule 15c2-1.
    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 2835 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 2835 burden 
hours.
    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.
    Comments regarding the estimated burden hours should be directed 
to: (i) The 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 
or by sending an e-mail to nfraser@omb.eop.gov; and (ii) Lewis W. 
Walker, Acting Director/Chief Information Officer, Office of 
Information Technology, 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. Comments must be submitted within 
30 days of this notice.

    Dated: December 10, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-29966 Filed 12-17-08; 8:45 am]

BILLING CODE 8011-01-P