

[Federal Register: May 16, 2007 (Volume 72, Number 94)]
[Notices]               
[Page 27601-27602]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr16my07-115]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

Upon written request, copies available from: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549.

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 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.

[[Page 27602]]

    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 $100, the resultant total cost of compliance for the 
respondents is $600,000 per year (2,000 entities x 3 hours/entity x 
$100/hour = $600,000).
    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 will 
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.
    Direct your written comments to R. Corey Booth, 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. Comments must be submitted to OMB within 
60 days of this notice.

    Dated: May 10, 2007.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E7-9412 Filed 5-15-07; 8:45 am]

BILLING CODE 8010-01-P
