
[Federal Register Volume 74, Number 115 (Wednesday, June 17, 2009)]
[Notices]
[Page 28735]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-14176]



[[Page 28735]]

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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Rules 17h-1T and 17h-2T, SEC File No. 270-359, OMB Control No. 
3235-0410.

    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 
requests for extension of the previously approved collections of 
information discussed below. The Code of Federal Regulation citations 
to this collection of information are the following rules: 17 CFR 
240.17h-1T and 17 CFR 240.17h-2T under the Securities Exchange Act of 
1934 (15 U.S.C. 78a et seq.) (the ``Act'').
    Rule 17h-1T requires a broker-dealer to maintain and preserve 
records and other information concerning certain entities that are 
associated with the broker-dealer. This requirement extends to the 
financial and securities activities of the holding company, affiliates 
and subsidiaries of the broker-dealer that are reasonably likely to 
have a material impact on the financial or operational condition of the 
broker-dealer. Rule 17h-2T requires a broker-dealer to file with the 
Commission quarterly reports and a cumulative year-end report 
concerning the information required to be maintained and preserved 
under Rule 17h-1T.
    The collection of information required by Rules 17h-1T and 17h-2T 
is necessary to enable the Commission to monitor the activities of a 
broker-dealer affiliate whose business activities is reasonably likely 
to have a material impact on the financial and operational condition of 
the broker-dealer. Without this information, the Commission would be 
unable to assess the potentially damaging impact of the affiliate's 
activities on the broker-dealer.
    There are currently 148 respondents that must comply with Rules 
17h-1T and 17h-2T. Each of these 148 respondents require approximately 
10 hours per year, or 2.5 hours per quarter, to maintain the records 
required under Rule 17h-1T, for an aggregate annual burden of 1,480 
hours (148 respondents x 10 hours). In addition, each of these 148 
respondents must make five annual responses under Rule 17h-2T. These 
five responses require approximately 14 hours per respondent per year, 
or 3.5 hours per quarter, for an aggregate annual burden of 2,072 hours 
(148 respondents x 14 hours). In addition, there are approximately five 
new respondents per year \1\ that must draft an organizational chart 
required under Rule 17h-1T and establish a system for complying with 
the Rules. The staff estimates that drafting the required 
organizational chart requires one hour and establishing a system for 
complying with the Rules requires three hours, thus requiring an 
aggregate of 20 hours (5 new respondents x 4 hours). Thus, the total 
compliance burden per year is approximately 3,572 burden hours (1,480 + 
2,072 + 20).
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    \1\ However, the staff further estimates that the number of 
respondents decreases by at least that many firms per year as a 
result of mergers and other business factors.
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    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 collection of information; (c) ways to enhance the 
quality, utility, and clarity of the information 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.
    Comments should be directed to Charles Boucher, Director/Chief 
Information Officer, Securities and Exchange Commission, C/O Shirley 
Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or send 
an e-mail to: PRA_Mailbox@sec.gov.

    Dated: June 10, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-14176 Filed 6-16-09; 8:45 am]
BILLING CODE 8010-01-P


