Document ID: SEC-2010-0719-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2010-05-17T04:00Z

[Federal Register: May 17, 2010 (Volume 75, Number 94)]
[Notices]
[Page 27601]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr17my10-99]

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SECURITIES AND EXCHANGE COMMISSION

[Rule 15a-6; SEC File No. 270-0329; OMB Control No. 3235-0371]

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 15a-6; SEC File No. 270-0329; OMB Control No. 3235-0371.

    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 existing
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 15a-6 (17 CFR 240.15a-6) under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.) provides, among other things, an exemption
from broker-dealer registration for foreign broker-dealers that effect
trades with or for U.S. institutional investors through a U.S.
registered broker-dealer, provided that the U.S. broker-dealer obtains
certain information about, and consents to service of process from, the
personnel of the foreign broker-dealer involved in such transactions,
and maintains certain records in connection therewith.
    These requirements are intended to ensure (a) that the U.S. broker-
dealer will receive notice of the identity of, and has reviewed the
background of, foreign personnel who will contact U.S. institutional
investors, (b) that the foreign broker-dealer and its personnel
effectively may be served with process in the event enforcement action
is necessary, and (c) that the Commission has ready access to
information concerning these persons and their U.S. securities
activities.
    It is estimated that approximately 2,000 respondents will incur an
average burden of three hours per year to comply with this rule, for a
total burden of 6,000 hours. At an average cost per hour of
approximately $105, the resultant total cost of compliance for the
respondents is $600,000 per year (2,000 entities x 3 hours/entity x
$105/hour = $630,000).
    Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the Commission, including whether the information will
have practical utility; (b) the accuracy of the Commission'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 Charles Boucher, 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.

    Dated: May 10, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-11658 Filed 5-14-10; 8:45 am]
BILLING CODE 8010-01-P