Upon Written Request, Copies Available From: Securities and Exchange Start Printed Page 37034Commission, Office of Filings and Information Services, Washington, DC 20549.
Rule 17f-1(c) and Form X-17F-1A—SEC File No. 270-29, OMB Control No. 3235-0037.
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”) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval.
- Rule 17f-1(c) and Form X-17F-1A Reporting of missing, lost, stolen, or counterfeit securities.
Rule 17f-1(c) requires approximately 26,000 entities in the securities industry to report lost, stolen, missing, or counterfeit securities to a central database. Form X-17F-1A facilitates the accurate reporting and precise and immediate data entry into the central database. Reporting to the central database fulfills a statutory requirement that reporting institutions report and inquire about missing, lost, counterfeit, or stolen securities. Reporting to the central database also allows reporting institutions to gain access to the database that stores information for the Lost and Stolen Securities Program.
We estimate that 26,000 reporting institutions will report that securities are either missing, lost, counterfeit, or stolen annually and that each reporting institution will submit this report 50 times each year. The staff estimates that the average amount of time necessary to comply with Rule 17f-1(c) and Form X-17F-1A is five minutes. The total burden is 108,333 hours annually for respondents. (26,000 times 50 times 5 divided by 60.) The average cost per hour is approximately $50. Therefore, the total cost of compliance for respondents is $5,416,666.
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 shall have practical utility; (b) the accuracy of the agency's estimates of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be 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.
Please direct your written comments to Kenneth A. Fogash, Acting Associate Executive Director/CIO, Office of Information Technology, Securities and Exchange Commission, 450 5th Street, NW., Washington, DC 20549.Start Signature
Dated: June 12, 2003.
Margaret H. McFarland,
[FR Doc. 03-15647 Filed 6-19-03; 8:45 am]
BILLING CODE 8010-01-P