
[Federal Register: September 15, 2008 (Volume 73, Number 179)]
[Notices]               
[Page 53296-53297]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr15se08-119]                         

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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 17Ab2-1, Form CA-1, SEC File No. 270-203, OMB Control No. 
3235-0195.

    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 approval of extension of the following 
previously approved collection of information as discussed below.
 Rule 17Ab2-1 and Form CA-1: Registration of Clearing Agencies 
(17 CFR 240.17Ab2-1)
    Rule 17Ab2-1 and Form CA-1 require clearing agencies to register 
with the Commission and to meet certain requirements with regard to, 
among other things, a clearing agency's organization, capacities, and 
rules. The information is collected from the clearing agency upon the 
initial application for registration on Form CA-1. Thereafter, 
information is collected by amendment to the initial Form CA-1 when 
material changes in circumstances necessitate modification of the 
information previously provided to the Commission.
    The Commission uses the information disclosed on Form CA-1 to (i) 
Determine whether an applicant meets the standards for registration set 
forth in Section 17A of the Securities Exchange Act of 1934 (``Exchange 
Act''), (ii) enforce compliance with the Exchange Act's registration 
requirement, and (iii) provide information about specific registered 
clearing agencies for compliance and investigatory purposes. Without 
Rule 17Ab2-1, the Commission could not perform these duties as 
statutorily required.
    There are currently approximately six operational clearing agencies 
and five clearing agencies that have been granted an exemption from 
registration. The Commission staff estimates that each initial Form CA-
1 requires approximately 130 hours to complete and submit for approval. 
Hours required for amendments to Form CA-1 that must be submitted to 
the Commission in connection with material changes to the initial CA-1 
can vary, depending upon the nature and extent of the amendment. Since 
the Commission only receives an average of one submission per year, the 
aggregate annual burden associated with compliance with Rule 17Ab2-1 
and Form CA-1 is 130 hours. Based upon the staff's experience, the 
average cost to clearing agencies of preparing and filing the initial 
Form CA-1 is estimated to be $18,000. There is no recordkeeping 
requirement for Rule 17Ab2-1 or Form CA-1. The rule and form do not 
involve the collection of confidential information. 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.
    General comments regarding the estimated burden hours 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: Kimberly_P._
Nelson@omb.eop.gov; and (ii) Lewis W. Walker, Acting Director/Chief 
Information Officer, Securities and Exchange Commission, C/O Shirley 
Martinson, 6432 General Green Way, Alexandria, Virginia 22312; or by 
sending an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted 
to OMB within 30 days of this notice.


[[Page 53297]]


    Dated: September 8, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-21406 Filed 9-12-08; 8:45 am]

BILLING CODE 8010-01-P
