

[Federal Register: February 15, 2008 (Volume 73, Number 32)]
[Notices]               
[Page 8912]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr15fe08-113]                         

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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 17a-4; OMB Control No. 3235-0279; SEC File No. 270-198.

    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 for Rule 17a-4 (17 CFR 240.17a-4).
    Rule 17a-4 requires approximately 5,791 active, registered exchange 
members, brokers and dealers (``broker-dealers'') to preserve for 
prescribed periods of time certain records required to be made by Rule 
17a-3 (17 CFR 240.17a-3) and other Commission rules, and other kinds of 
records which firms make or receive in the ordinary course of business. 
Rule 17a-4 also permits broker-dealers to employ, under certain 
conditions, electronic storage media to maintain these required 
records. The records required to be maintained under Rule 17a-4 are 
used by examiners and other representatives of the Commission to 
determine whether broker-dealers are in compliance with, and to enforce 
their compliance with, the Commission's rules.
    The staff estimates that the average number of hours necessary for 
each broker-dealer to comply with Rule 17a-4 is 254 hours annually. 
Thus, the total burden for broker-dealers is 1,470,914 hours annually. 
The staff believes that compliance personnel would be charged with 
ensuring compliance with Commission regulation, including Rule 17a-4. 
The staff estimates that the hourly salary of a compliance manager is 
$245 per hour.\1\ Based upon these numbers, the total cost of 
compliance for 5,791 respondents is the dollar cost is approximately 
$360.4 million (1,470,914 yearly hours x $245).
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    \1\ This figure is based on the SIFMA Report on Office Salaries 
In the Securities Industry 2006 (Compliance Manager).
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    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: February 11, 2008.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8-2874 Filed 2-14-08; 8:45 am]

BILLING CODE 8011-01-P
