Document ID: SEC-2006-0087-0001
Agency: sec
Document Type: Notice
Title: Agency information collection activities; proposals, submission, and approvals
Posted Date: 2006-01-24T05:00Z

[Federal Register: January 24, 2006 (Volume 71, Number 15)]
[Notices]               
[Page 3895-3896]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr24ja06-128]                         

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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 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 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.

[[Page 3896]]

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 145 respondents (i.e., broker-dealers that 
carry or clear customer accounts that also have bank loans) that 
require an aggregate total of 3263 hours to comply with the rule. Each 
of these approximately 145 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 3263 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.
    Direct your written comments to R. Corey Booth, Director/Chief 
Information Officer, Office of Information Technology, Securities and 
Exchange Commission, 100 F Street, NW., Washington, DC 20549.

    Dated: January 17, 2006.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 06-622 Filed 1-23-06; 8:45 am]

BILLING CODE 8010-01-P