Document ID: SEC-2008-0933-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2008-07-10T04:00Z

[Federal Register: July 10, 2008 (Volume 73, Number 133)]
[Notices]               
[Page 39738]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr10jy08-101]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed 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 17Ab2-1, Form CA-1; SEC File No. 270-203; OMB Control No. 
3235-0195.

    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 17Ab2-1 and Form CA-1: Registration of Clearing 
Agencies (17 CFR 240.17Ab2-1).
    Rule 17Ab2-1 and Form CA-1 require clearing agencies to register 
with the Commission and to meet certain requirements with regard to, 
among other things, a clearing agency's organization, capacities, and 
rules. The information is collected from the clearing agency upon the 
initial application for registration on Form CA-1. Thereafter, 
information is collected by amendment to the initial Form CA-1 when 
material changes in circumstances necessitate modification of the 
information previously provided to the Commission.
    The Commission uses the information disclosed on Form CA-1 to (i) 
Determine whether an applicant meets the standards for registration set 
forth in Section 17A of the Securities Exchange Act of 1934 (``Exchange 
Act''), (ii) enforce compliance with the Exchange Act's registration 
requirement, and (iii) provide information about specific registered 
clearing agencies for compliance and investigatory purposes. Without 
Rule 17Ab2-1, the Commission could not perform these duties as 
statutorily required.
    There are currently approximately six operational clearing agencies 
and five clearing agencies that have been granted an exemption from 
registration. The Commission staff estimates that each initial Form CA-
1 requires approximately 130 hours to complete and submit for approval. 
Hours required for amendments to Form CA-1 that must be submitted to 
the Commission in connection with material changes to the initial CA-1 
can vary, depending upon the nature and extent of the amendment. Since 
the Commission only receives an average of one submission per year, the 
aggregate annual burden associated with compliance with Rule 17Ab2-1 
and Form CA-1 is 130 hours. Based upon the staff's experience, the 
average cost to clearing agencies of preparing and filing the initial 
Form CA-1 is estimated to be $18,000.
    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 will 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden of the collection of information; (c) ways to enhance the 
quality, utility, and clarity of the information 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: July 2, 2008.
Florence E. Harmon,
Acting Secretary.
 [FR Doc. E8-15641 Filed 7-9-08; 8:45 am]

BILLING CODE 8010-01-P