Submission for OMB Review; Comment Request, 35320-35321 [E5-3127]

Download as PDF 35320 Federal Register / Vol. 70, No. 116 / Friday, June 17, 2005 / Notices disclosure documents are maintained by the broker-dealers and may be reviewed during the course of an examination by the Commission. The Commission estimates that there are approximately 270 broker-dealers subject to Rule 15g– 2, and that each one of these firms will process an average of three new customers for ‘‘penny stocks’’ per week. Thus each respondent will process approximately 156 risk disclosure documents per year. The staff calculates that (a) the copying and mailing of the risk disclosure document should take no more than two minutes per customer, and (b) each customer should take no more than eight minutes to review, sign, and return the risk disclosure document. Thus, the total ongoing respondent burden is approximately 10 minutes per response, or an aggregate total of 1,560 minutes per respondent. Since there are 270 respondents, the annual burden is 421,200 minutes (1,560 minutes per each of the 270 respondents), or 7,020 hours. In addition, broker-dealers will incur a recordkeeping burden of approximately two minutes per response. Thus each respondent will incur a recordkeeping burden of 312 (156 × 2) minutes per year, and respondents as a group will incur an aggregate annual recordkeeping burden of 1,404 hours (270 × 312 / 60). Accordingly, the aggregate annual hour burden associated with Rule 15g–2 is 8,424 hours (7,020 + 1,404). The Commission does not maintain the risk disclosure document. Instead, it must be retained by the broker-dealer for at least three years following the date on which the risk disclosure document was provided to the customer, the first two years in an accessible place. The collection of information required by the rule is mandatory. The risk disclosure document is otherwise governed by the internal policies of the broker-dealer regarding confidentiality, etc. 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. Written comments regarding the above information should be directed to the following persons: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10202, New Executive Office Building, Washington, DC 20503 or send an email to: David_Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/CIO, Office of Information Technology, Securities and Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549. Comments VerDate jul<14>2003 17:59 Jun 16, 2005 Jkt 205001 must be submitted to OMB within 30 days of this notice. Dated: June 7, 2005. J. Lynn Taylor, Assistant Secretary. [FR Doc. E5–3125 Filed 6–16–05; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon written request, copies available from: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Extension: Rule 17a–2, SEC File No. 270–189, OMB Control No. 3235–0201. 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 an extension of the previously approved collection of information discussed below. Rule 17a–2 requires underwriters to maintain information regarding stabilizing activities conducted in accordance with Rule 104. The Commission estimates that 519 respondents collect information under Rule 17a–2 and that approximately 2,595 hours in the aggregate are required annually for these collections. The collections of information under Regulation M and Rule 17a–2 are necessary for covered persons to obtain certain benefits or to comply with certain requirements. The collections of information are necessary to provide the Commission with information regarding syndicate covering transactions and penalty bids. The Commission may review this information during periodic examinations or with respect to investigations. Except for the information required to be kept under Rule 104(i) and Rule 17a2(c), none of the information required to be collected or disclosed for PRA purposes will be kept confidential. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the agency displays a valid OMB control number. The recordkeeping requirement of Rule 17a–2 requires the information be maintained in a separate file, or in a separately retrievable format, for a period of three years, the first two years PO 00000 Frm 00100 Fmt 4703 Sfmt 4703 in an easily accessible place, consistent with the requirements of Exchange Act Rule 17a–4(f). Written comments regarding the above information should be directed to the following persons: (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 email to: ‘‘David_Rostker@omb.eop.gov’’; and (ii) R. Corey Booth, Director/Chief Information Officer, Office of Information Technology, Securities and Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549. Comments must be submitted to OMB within 30 days of this notice. Dated: June 6, 2005. J. Lynn Taylor, Assistant Secretary. [FR Doc. E5–3126 Filed 6–16–05; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon written request, copies available from: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Extension: Rule 17a–6, SEC File No. 270– 506, OMB Control No. 3235–0564. 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 (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. Section 17(a) of the Investment Company Act of 1940 (the ‘‘Act’’), prohibits affiliated persons of a registered investment company (‘‘fund’’) from borrowing money or other property from, or selling or buying securities or other property to or from the fund, or any company that the fund controls. Rule 17a–6 permits a fund and its ‘‘portfolio affiliates’’ (an issuer of which a fund owns more than five percent of the voting securities) to engage in principal transactions with if no prohibited participants (e.g., directors, officers, employees, or investment advisers of the fund contain persons controlling and under common control with the fund, and their affiliates) are E:\FR\FM\17JNN1.SGM 17JNN1 Federal Register / Vol. 70, No. 116 / Friday, June 17, 2005 / Notices parties to the transaction or have a direct or indirect financial interest in the transaction. Rule 17a–6 specifies certain interests that are not ‘‘financial interests.’’ The rule also provides that the term ‘‘financial interest’’ does not include any interest that the fund’s board of directors (including a majority of the directors who are not interested persons of the fund) finds to be not material, as long as the board records the basis for the findings in its meeting minutes. The information collection requirements in rule 17a–6 are intended to ensure that Commission staff can review, in the course of its compliance and examination functions, the basis for a board of director’s finding that the financial interest of a prohibited participant in a party to a transaction with a portfolio affiliate is not material. Based on analysis of past filings, Commission staff estimates that 148 funds are affiliated persons of 668 issuers as a result of the fund’s ownership or control of the issuer’s voting securities, and that there are approximately 1,000 such affiliate relationships. Staff discussions with mutual fund representatives have suggested that no funds currently rely on rule 17a–6 exemptions. We do not know definitively the reasons for this change in transactional behavior, but differing market conditions from year to year may offer some explanation for the current lack of fund interest in the exemptions under rule 17a–6. Accordingly, we estimate that annually there will be no principal transactions under rule 17a–6 that will result in a collection of information. The Commission requests authorization to maintain an inventory of one burden hour to ease future renewals of rule 17a–6’s collection of information analysis should reliance on rule 17a–6 increase in the coming years. The estimate of average burden hours is made solely for the purposes of the Paperwork Reduction Act. The estimate is not derived from a comprehensive or even a representative survey or study of the costs of Commission rules. Complying with this collection of information requirement is necessary to obtain the benefit of relying on rule 17a–6. 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 above information should be directed to the following persons: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of VerDate jul<14>2003 17:59 Jun 16, 2005 Jkt 205001 35321 Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or email to: David_Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief Information Officer, Office of Information Technology, Securities and Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549. Comments must be submitted to OMB within 30 days of this notice. Commission received no comments on the proposal. On June 3, 2005, the CBOE filed Amendment No. 3 to the proposed rule change. 6 This order grants accelerated approval the proposed rule change, as amended by Amendment Nos. 1 and 2. Simultaneously, the Commission is providing notice of filing of Amendment No. 3 and granting accelerated approval of Amendment No. 3. Dated: June 6, 2005. J. Lynn Taylor, Assistant Secretary. [FR Doc. E5–3127 Filed 6–16–05; 8:45 am] II. Description BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–51822; File No. SR-CBOE– 2004–87] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Order Granting Accelerated Approval of a Proposed Rule Change and Amendment Nos. 1 and 2 Thereto and Notice of Filing and Order Granting Accelerated Approval to Amendment No. 3 Thereto Relating to Trading Rules on the Hybrid System for Index Options and Options on ETFs June 10, 2005. I. Introduction On December 17, 2004, the Chicago Board Options Exchange, Incorporated (‘‘CBOE’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder, 2 a proposed rule change to adopt index hybrid trading rules applicable to classes in which there are Designated Primary Market-Makers (‘‘DPMs’’), Lead Market-Makers (‘‘LMMs’’) or, alternatively, MarketMakers (‘‘MMs’’). The CBOE filed Amendment Nos. 1 and 2 to the proposed rule change on March 23, 2005 3 and April 26, 2005, 4 respectively. The proposed rule change, as amended by Amendment Nos. 1 and 2, was published for comment in the Federal Register on May 17, 2005. 5 The U.S.C. 78s(b)(1). CFR 240.19b-4. 3 Amendment No. 1 replaced and superseded the originally filed proposed rule change. 4 Amendment No. 2 replaced and superseded the originally filed proposed rule change and Amendment No. 1. 5 See Securities Exchange Act Release No. 51680 (May 10, 2005), 70 FR 28326. PO 00000 1 15 2 17 Frm 00101 Fmt 4703 Sfmt 4703 The Exchange currently trades equity options, index options, and options on exchange-traded funds (‘‘ETFs’’) on its Hybrid Trading System (‘‘Hybrid’’), which is an options trading platform that combines the features of electronic and open outcry, auction market principles, while, at the same time, providing market makers the ability to electronically stream their own quotes. Currently, one prerequisite for trading a class on Hybrid, that there be a DPM assigned to the class, prevents the Exchange from introducing Hybrid into those classes in which there is no assigned DPM. The Exchange proposes to extend the Hybrid trading rules that currently apply to classes of equity options (‘‘equity classes’’) to classes of index options and options on ETFs (collectively, ‘‘index classes’’) without an assigned DPM, with some proposed rule modifications. In this regard, the proposal would allow the trading of these index classes on Hybrid either with a DPM, LMM, or without a DPM or LMM in classes where there are a requisite number of assigned MMs. To implement this proposal, the Exchange proposes to adopt several new rules (most notably CBOE Rules 6.45B, 8.14, 8.15, and 8.15B), and to amend several existing rules (i.e., CBOE Rules 6.1, 6.2, 6.2B, 6.45A, 7.4, and 8.15). New CBOE Rule 6.45B would contain the rules pertaining to priority and allocation of trades for index classes, while existing CBOE Rule 6.45A would be amended to apply solely to equity options. New proposed CBOE Rule 8.14 describes the market maker participants permissible for index classes trading in Hybrid. New proposed CBOE Rule 8.15A contains provisions relating to LMMs in Hybrid classes, while existing CBOE Rule 8.15 would be amended to apply to LMMs in non-Hybrid classes. Finally, new proposed CBOE Rule 8.15B describes the participation entitlement applicable to LMMs. A more complete 6 Amendment No. 3 amended note 7 in Item 3 of Form 19b-4 of Amendment No. 2 and the parallel reference in Exhibit 1 to Amendment No. 2 to delete the reference to Satisfaction Orders and made two technical corrections to the proposed rule text. E:\FR\FM\17JNN1.SGM 17JNN1

Agencies

[Federal Register Volume 70, Number 116 (Friday, June 17, 2005)]
[Notices]
[Pages 35320-35321]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-3127]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

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

Extension: Rule 17a-6, SEC File No. 270-506, OMB Control No. 3235-
0564.

    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 
(``OMB'') a request for extension of the previously approved collection 
of information discussed below.
    Section 17(a) of the Investment Company Act of 1940 (the ``Act''), 
prohibits affiliated persons of a registered investment company 
(``fund'') from borrowing money or other property from, or selling or 
buying securities or other property to or from the fund, or any company 
that the fund controls. Rule 17a-6 permits a fund and its ``portfolio 
affiliates'' (an issuer of which a fund owns more than five percent of 
the voting securities) to engage in principal transactions with if no 
prohibited participants (e.g., directors, officers, employees, or 
investment advisers of the fund contain persons controlling and under 
common control with the fund, and their affiliates) are

[[Page 35321]]

parties to the transaction or have a direct or indirect financial 
interest in the transaction. Rule 17a-6 specifies certain interests 
that are not ``financial interests.'' The rule also provides that the 
term ``financial interest'' does not include any interest that the 
fund's board of directors (including a majority of the directors who 
are not interested persons of the fund) finds to be not material, as 
long as the board records the basis for the findings in its meeting 
minutes.
    The information collection requirements in rule 17a-6 are intended 
to ensure that Commission staff can review, in the course of its 
compliance and examination functions, the basis for a board of 
director's finding that the financial interest of a prohibited 
participant in a party to a transaction with a portfolio affiliate is 
not material.
    Based on analysis of past filings, Commission staff estimates that 
148 funds are affiliated persons of 668 issuers as a result of the 
fund's ownership or control of the issuer's voting securities, and that 
there are approximately 1,000 such affiliate relationships. Staff 
discussions with mutual fund representatives have suggested that no 
funds currently rely on rule 17a-6 exemptions. We do not know 
definitively the reasons for this change in transactional behavior, but 
differing market conditions from year to year may offer some 
explanation for the current lack of fund interest in the exemptions 
under rule 17a-6. Accordingly, we estimate that annually there will be 
no principal transactions under rule 17a-6 that will result in a 
collection of information.
    The Commission requests authorization to maintain an inventory of 
one burden hour to ease future renewals of rule 17a-6's collection of 
information analysis should reliance on rule 17a-6 increase in the 
coming years.
    The estimate of average burden hours is made solely for the 
purposes of the Paperwork Reduction Act. The estimate is not derived 
from a comprehensive or even a representative survey or study of the 
costs of Commission rules. Complying with this collection of 
information requirement is necessary to obtain the benefit of relying 
on rule 17a-6. 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 above information should be directed 
to the following persons: (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 email to: David--Rostker@omb.eop.gov; 
and (ii) R. Corey Booth, Director/Chief Information Officer, Office of 
Information Technology, Securities and Exchange Commission, 450 Fifth 
Street, NW., Washington, DC 20549. Comments must be submitted to OMB 
within 30 days of this notice.

    Dated: June 6, 2005.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E5-3127 Filed 6-16-05; 8:45 am]
BILLING CODE 8010-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.