Document ID: SEC-2009-1096-0001
Agency: sec
Document Type: Notice
Title: Proposed Extension of Existing Collection; Comment Request
Posted Date: 2009-08-04T04:00Z

[Federal Register: August 4, 2009 (Volume 74, Number 148)]
[Notices]               
[Page 38676]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr04au09-83]                         

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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 204, OMB Control No. 3235-0647, SEC File No. 270-586.

    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 204 (17 CFR 242.204) under the Securities Exchange Act of 1934 
(15 U.S.C. 78a et seq.) requires that, subject to certain limited 
exceptions, if a participant of a registered clearing agency has a fail 
to deliver position at a registered clearing agency it must immediately 
close out the fail to deliver position by purchasing or borrowing 
securities by no later than the beginning of regular trading hours on 
the settlement day following the day the participant incurred the fail 
to deliver position. Rule 204 is intended to help further the 
Commission's goal of reducing fails to deliver by maintaining the 
reductions in fails to deliver achieved by the adoption of temporary 
Rule 204T, as well as other actions taken by the Commission. In 
addition, Rule 204 is intended to help further the Commission's goal of 
addressing abusive ``naked'' short selling in all equity securities.
    Several provisions under Rule 204 will impose a ``collection of 
information'' within the meaning of the Paperwork Reduction Act.
    I. Allocation Notification Requirement: It is estimated that the 
active broker-dealer respondents registered with the Commission incur 
an aggregate burden of 394,626 hours per year to comply with this 
provision of Rule 204.
    II. Demonstration Requirement for Fails to Deliver on Long Sales: 
It is estimated that the active broker-dealer respondents registered 
with the Commission incur an aggregate burden of 270,063 hours per year 
to comply with this provision of Rule 204.
    III. Pre-Borrow Notification Requirement: It is estimated that the 
active broker-dealer respondents registered with the Commission incur 
an aggregate burden of 397,152 hours per year to comply with this 
provision of Rule 204.
    IV. Certification Requirement: It is estimated that the active 
broker-dealer respondents registered with the Commission incur an 
aggregate burden of 394,626 hours per year to comply with this 
provision of Rule 204.
    V. Pre-Fail Credit Demonstration Requirement: It is estimated that 
the active broker-dealer respondents registered with the Commission 
incur an aggregate burden of 394,626 hours per year to comply with this 
provision of Rule 204.
    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.
    Comments should be directed to Charles Boucher, 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 29, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-18560 Filed 8-3-09; 8:45 am]

BILLING CODE 8010-01-P