

[Federal Register: October 23, 2007 (Volume 72, Number 204)]
[Notices]               
[Page 60047-60048]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr23oc07-65]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Submission for OMB Review; 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'') has submitted to the Office of Management 
and Budget a request for extension of the previously approved 
collection of information discussed below.
     Rule 17f-1(g) (17 CFR 240.17f-1(g)) of the Securities 
Exchange Act of 1934 (15 U.S.C. 78q(f)) (``Act'') Requirements for 
reporting and inquiry with respect to missing, lost, counterfeit, or 
stolen securities.
    Rule 17f-1(g), under the Act, 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 reporting institutions, compliance with

[[Page 60048]]

Rule 17f-1 could not be monitored effectively.
    The Commission estimates that there are 25,628 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 14,095.4 hours (25,628 x .55 hours = 14,095.4). 
Assuming an average hourly cost for clerical work of $22.00, the 
average total yearly record retention cost for each respondent would be 
$12.10. Based on these estimates, the total annual cost for the 
estimated 25,628 reporting institutions would be approximately 
$310,099.
    Rule 17f-1(g) does not require periodic collection, but does 
require retention of records generated as a result of compliance with 
Rule 17f-1. Under Section 17(b) and (f) of the Act, the information 
required by Rule 17f-1(g) is available to the Commission and Federal 
bank regulators for examinations or collection purposes. Rule 0-4 of 
the Act deems such information to be confidential. Please note that 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.
    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: 
Alexander_T._Hunt@omb.eop.gov; and (ii) 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 within 30 
days of this notice.

    Dated: October 17, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-20794 Filed 10-22-07; 8:45 am]

BILLING CODE 8011-01-P
