
[Federal Register: September 20, 2010 (Volume 75, Number 181)]
[Notices]               
[Page 57305-57306]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr20se10-84]                         

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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:

[[Page 57306]]

    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 provided for in Rule 17f-1(g) (17 CFR 
240.17f-1(g)), under the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.) (the ``Act'').
    Rule 17f-1(g) 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 Rule 17f-1 could 
not be monitored effectively.
    The Commission estimates that there are 25,458 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 14,001.9 hours (25,458 x .55 hours = 14,001.9). 
Assuming an average hourly cost for clerical work of $50.00, the 
average total yearly record retention cost for each respondent would be 
$27.50. Based on these estimates, the total annual cost for the 
estimated 25,458 reporting institutions would be approximately $700,095 
(25,458 x $27.50).
    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: Shagufta_
Ahmed@omb.eop.gov; and (ii) Charles Boucher, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 
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: September 14, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-23411 Filed 9-17-10; 8:45 am]
BILLING CODE 8010-01-P

