[Federal Register Volume 75, Number 141 (Friday, July 23, 2010)]
[Notices]
[Pages 43208-43209]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-18072]


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SECURITIES AND EXCHANGE COMMISSION

[Rule 17f-1(g); SEC File No. 270-30; OMB Control No. 3235-0290]


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 17f-1(g), SEC File No. 270-30, OMB Control No. 3235-0290.

    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 provided for in Rule 17f-1(g) (17 CFR 240.17f-1(g)), under 
the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). The 
Commission plans to submit this existing collection of information to 
the Office of Management and Budget for extension and approval.
    Paragraph (g) of Rule 17f-1 requires that all reporting 
institutions (i.e., every national securities exchange, member thereof, 
registered securities association, broker, dealer, municipal securities 
dealer, registered transfer agent, registered clearing agency, 
participant therein, member of the Federal Reserve System and bank 
insured by the FDIC) maintain and preserve a number of documents 
related to their participation in the Lost and Stolen Securities 
Program (``Program'') under Rule 17f-1. The following documents must be 
kept in an easily accessible place for three years, according to 
paragraph (g): (1) Copies or all reports of theft or loss (Form X-17F-
1A) filed with the Commission's designee; (2) all agreements between 
reporting institutions regarding registration in the Program or other 
aspects of Rule 17f-1; and (3) all confirmations or other information 
received from the Commission or its designee as a result of inquiry.
    Reporting institutions utilize these records and reports (a) to 
report missing, lost, stolen or counterfeit securities to the database, 
(b) to confirm inquiry of the database, and (c) to demonstrate 
compliance with Rule 17f-1. The Commission and the reporting 
institutions' examining authorities utilize these records to monitor 
the incidence of thefts and losses incurred by reporting institutions 
and to determine compliance with Rule 17f-1. If such records were not 
retained by

[[Page 43209]]

reporting institutions, compliance with Rule 17f-1 could not be 
monitored effectively.
    The Commission estimates that there are 25,458 reporting 
institutions (respondents) and, on average, each respondent would need 
to retain 33 records annually, with each retention requiring 
approximately 1 minute (33 minutes or .55 hours). The total estimated 
annual burden is 14,001.9 hours (25,458 x .55 hours = 14,001.9). 
Assuming an average hourly cost for clerical work of $50.00, the 
average total yearly record retention cost for each respondent would be 
$27.50 ($50 x .55 hours). Based on these estimates, the total annual 
cost for the estimated 25,458 reporting institutions would be 
approximately $700,095 (25,458 x $27.50).
    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 
shall have practical utility; (b) the accuracy of the Commission's 
estimates 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.
    Please direct your written comments 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: [email protected].

    Dated: July 19, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-18072 Filed 7-22-10; 8:45 am]
BILLING CODE 8010-01-P