[Federal Register Volume 75, Number 218 (Friday, November 12, 2010)]
[Notices]
[Pages 69476-69477]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-28543]
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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.
Extension:
Rule 17a-4(b)(11); SEC File No. 270-449; OMB Control No. 3235-
0506; Rule 17a-3(a)(16).
Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (44 U.S.C. Sec. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') has submitted to the Office of Management
and Budget (``OMB'') a request for approval of extension of the
existing collection of information provided for in the following rule:
Rule 17a-4(b)(11) (17 CFR 240.17a-4(b)(11)) under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et seq.).
Rule 17a-4(b)(11) describes the record preservation requirements
for those records required to be kept pursuant to Rule 17a-3(a)(16),
including how such records should be kept and for how long, to be used
in monitoring compliance with the Commission's financial responsibility
program and antifraud and antimanipulative rules as well as other rules
and regulations of the Commission and the self-regulatory
organizations.
It is estimated that respondents will incur a total burden of 2,835
hours per year (105 respondents multiplied by 27 burden hours to comply
with Rule 17a-3(a)(16). It is estimated that approximately 105 active
broker-dealer respondents registered with the Commission will incur a
total burden of 315 hours per year to comply with Rule 17a-4(b)(11),
(105 respondents multiplied by 3 burden hours per respondent equals 315
total burden hours).
The Commission estimates that an employee of a broker-dealer
charged to ensure compliance with Rule 17a-3(a)(16) receives annual
compensation of $238,000. This compensation is the equivalent of $119
per hour ($238,000 divided by 2,000 payroll hours per year). Thus, the
average cost estimated for each respondent would be $3,213:
Rule 17a-3(a)(16); Recordkeeping requirements 27 hours at $119/hr =
$3,213.
The Commission estimates that an employee of a broker-dealer
charged to ensure compliance with Rule 17a-4(b)(11) receives annual
compensation of $238,000. This compensation is the equivalent of $119
per hour ($238,000 divided by 2,000 pay roll hours per year). Thus, the
average cost estimated for each respondent would be $357.00:
Rule 17a-4(b)(11); Record preservation requirements 3 hours at $119/hr
= $ 357.
Accordingly, the annual aggregated hour burden for each broker-
dealer required to comply with Rules 17a-
[[Page 69477]]
3(a)(16) and 17a-4(b)(11) would be $3,570: ($3,213 + $357 = $3,570).
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid control number.
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.
Please direct your written comments to Thomas Bayer, Chief
Information Officer, Securities and Exchange Commission, C/O Remi
Pavlik-Simon, 6432 General Green Way, Alexandria, VA, 22312 or by
sending an e-mail to: [email protected].
Dated: November 4, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-28543 Filed 11-10-10; 8:45 am]
BILLING CODE 8011-01-P