[Federal Register Volume 76, Number 9 (Thursday, January 13, 2011)]
[Notices]
[Pages 2429-2430]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-674]
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SECURITIES AND EXCHANGE COMMISSION
[Rule 17a-4(b)(11), SEC File No. 270-449, OMB Control No. 3235-0506,
Rule 17a-3(a)(16)]
Submission for OMB Review; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of Investor
[[Page 2430]]
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 extension of the existing collection
of information provided for in the following rule: Rule 17a-4(b)(11)
(17 CFR Sec. 240.17a-4(b)(11)) under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.).
Rule 17a-4(b)(11) (17 CFR Sec. 240.17a-4(b)(11)) under the
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) 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 2835
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-3(a)(16) and 17a-4(b)(11)
would be $3,570: ($3213 + $357 = $3570).
Under Rule 17a-4(a)(11) broker-dealers are required to retain
records for a period of not less than three years. Compliance with the
rule is mandatory. The required records are available only to the
examination staff of the Commission and the self-regulatory
organization of which the broker-dealer is a member.
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. The public may view the information
discussed in this notice at http://www.reginfo.gov.
Comments should be directed to: (i) Desk Officer for the Securities
and Exchange Commission, Office of Information and Regulatory Affairs,
Office of Management and Budget, Room 10102, New Executive Office
Building, Washington, DC 20503, or by sending an e-mail to: [email protected]; and (ii) Thomas Bayer, Chief Information Officer,
Securities and Exchange Commission, c/o Remi Pavlik-Simon, 6432 General
Green Way, Alexandria, VA 22312 or send an e-mail to: [email protected]. Comments must be submitted to OMB within 30 days of
this notice.
Dated: January 10, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-674 Filed 1-12-11; 8:45 am]
BILLING CODE 8011-01-P