Proposed Collection; Comment Request, 19133 [E5-1665]

Download as PDF Federal Register / Vol. 70, No. 69 / Tuesday, April 12, 2005 / Notices Exchange Commission, 450 5th Street, NW., Washington, DC 20549. Dated: March 31, 2005. Margaret H. McFarland, Deputy Secretary. [FR Doc. 05–7301 Filed 4–11–05; 8:45 am] BILLING CODE 8010–01–M SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon written request, copies available from: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Extensions: Form 6–K, OMB Control No. 3235–0116, SEC File No. 270–107. 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. Form 6–K elicits material information from foreign private issuers of publicly traded securities promptly after the occurrence of specified or other important corporate events so that investors have current information upon which to base investment decisions. The purpose of Form 6–K is to ensure that U.S. investors have access to the same information that foreign investors do when making investment decisions. Form 6–K is filed by approximately 14,661 issuers annually. We estimate that it takes 8 hours per response to prepare Form 6–K for a total annual burden of 117,288 hours. We further estimate that 367 Forms 6–K each year require an additional 27 hours per response to translate into English an additional 8 pages of foreign language text for a total of 9,909 additional burden hours, which results in 127,197 total annual burden hours for Form 6– K. We estimate that respondents incur 75% of the 117,288 annual burden hours (87,966 hours) to prepare Form 6– K and 25% of the 9,909 burden hours (2,477 hours) to translate the additional foreign language text into English for a total annual reporting burden of 90,443 hours. The remaining burden hours are reflected as a cost to the foreign private issuers. VerDate jul<14>2003 16:48 Apr 11, 2005 Jkt 205001 Written comments are invited on: (a) Whether this 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 collections 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. Please direct your written comments to R. Corey Booth, Director/Chief Information Officer, Office of Information Technology, Securities and Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549. Dated: March 31, 2005. Margaret H. McFarland, Deputy Secretary. [FR Doc. E5–1665 Filed 4–11–05; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Extension: Rule 7d–2 [17 CFR 270.7d–2], SEC File No. 270–464; OMB Control No. 3235–0527. Rule 237; SEC File No. 270–465; OMB Control No. 3235–0528. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501–3520), the Securities and Exchange Commission (the ‘‘Commission’’) is soliciting comments on the collection of information summarized below. The Commission plans to submit these existing collections of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. In Canada, as in the United States, individuals can invest a portion of their earnings in tax-deferred retirement savings accounts (‘‘Canadian retirement accounts’’). In cases where these individuals move to the United States, these participants (‘‘Canadian/U.S. Participants’’ or ‘‘participants’’) may not be able to manage their Canadian PO 00000 Frm 00081 Fmt 4703 Sfmt 4703 19133 retirement account investments. Most securities and most investment companies (‘‘funds’’) that are ‘‘qualified investments’’ for Canadian retirement accounts are not registered under the U.S. securities laws. Those securities, therefore, generally cannot be publicly offered and sold in the United States without violating the registration requirements of the Securities Act of 1933 (‘‘Securities Act’’) 1 and, in the case of securities of an unregistered fund, the Investment Company Act of 1940 (‘‘Investment Company Act’’).2 As a result of these registration requirements of the U.S. securities laws, Canadian/U.S. Participants, in the past, had not been able to purchase or exchange securities for their Canadian retirement accounts as needed to meet their changing investment goals or income needs. In 2000, the Commission issued two rules that enabled Canadian/U.S. Participants to manage the assets in their Canadian retirement accounts by providing relief from the U.S. registration requirements for offers of securities of foreign issuers to Canadian/ U.S. Participants and sales to their accounts.3 Rule 237 under the Securities Act permits securities of foreign issuers, including securities of foreign funds, to be offered to Canadian/U.S. Participants and sold to their Canadian retirement accounts without being registered under the Securities Act. Rule 7d–2 under the Investment Company Act permits foreign funds to offer securities to Canadian/U.S. Participants and sell securities to their Canadian retirement accounts without registering as investment companies under the Investment Company Act. The provisions of rules 237 and 7d– 2 are substantially identical. Rule 237 requires written offering materials for securities that are offered and sold in reliance on the rule to disclose prominently that those securities are not registered with the Commission and may not be offered or sold in the United States unless they are registered or exempt from registration under the U.S. securities laws. Rule 7d–2 requires written offering materials for securities offered or sold in reliance on that rule to make the same disclosure concerning those securities, and also to disclose prominently that the fund that issued the securities is not registered with the Commission. Neither rule 237 nor rule 7d–2 requires any documents to be filed 1 15 U.S.C. 77. U.S.C. 80a. 3 See Offer and Sale of Securities to Canadian Tax-Deferred Retirement Savings Accounts, Release Nos. 33–7860, 34–42905, IC–24491 (June 7, 2000) [65 FR 37672 (June 15, 2000)]. 2 15 E:\FR\FM\12APN1.SGM 12APN1

Agencies

[Federal Register Volume 70, Number 69 (Tuesday, April 12, 2005)]
[Notices]
[Page 19133]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-1665]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon written request, copies available from: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549.

Extensions:
    Form 6-K, OMB Control No. 3235-0116, SEC File No. 270-107.

    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.
    Form 6-K elicits material information from foreign private issuers 
of publicly traded securities promptly after the occurrence of 
specified or other important corporate events so that investors have 
current information upon which to base investment decisions. The 
purpose of Form 6-K is to ensure that U.S. investors have access to the 
same information that foreign investors do when making investment 
decisions. Form 6-K is filed by approximately 14,661 issuers annually. 
We estimate that it takes 8 hours per response to prepare Form 6-K for 
a total annual burden of 117,288 hours. We further estimate that 367 
Forms 6-K each year require an additional 27 hours per response to 
translate into English an additional 8 pages of foreign language text 
for a total of 9,909 additional burden hours, which results in 127,197 
total annual burden hours for Form 6-K. We estimate that respondents 
incur 75% of the 117,288 annual burden hours (87,966 hours) to prepare 
Form 6-K and 25% of the 9,909 burden hours (2,477 hours) to translate 
the additional foreign language text into English for a total annual 
reporting burden of 90,443 hours. The remaining burden hours are 
reflected as a cost to the foreign private issuers.
    Written comments are invited on: (a) Whether this 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 
collections 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.
    Please direct your written comments to R. Corey Booth, Director/
Chief Information Officer, Office of Information Technology, Securities 
and Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549.

    Dated: March 31, 2005.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5-1665 Filed 4-11-05; 8:45 am]
BILLING CODE 8010-01-P
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