Submission for OMB Review; Comment Request, 40408-40409 [E5-3710]

Download as PDF 40408 Federal Register / Vol. 70, No. 133 / Wednesday, July 13, 2005 / Notices (‘‘Commission’’) is soliciting comments on the collections 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. Rule 203A–2(f), which is entitled ‘‘Internet Investment Advisers,’’ exempts from the prohibition on Commission registration an Internet investment adviser who provides investment advice to all of its clients exclusively through computer softwarebased models or applications, termed under the rule as ‘‘interactive websites.’’ 1 These advisers generally would not meet the statutory thresholds set out in section 203A of the Advisers Act—they do not manage $25 million or more in assets and do not advise registered investment companies.2 Eligibility under rule 203A–2(f) is conditioned on an adviser maintaining in an easily accessible place, for a period of not less than five years from the filing of Form ADV relying on the rule,3 a record demonstrating that the adviser’s advisory business has been conducted through an interactive website in accordance with the rule. This record maintenance requirement is a ‘‘collection of information’’ for PRA purposes. The Commission believes that approximately 25 advisers are registered with the Commission under rule 203– 2A(f), which involves a recordkeeping requirement manifesting in approximately four burden hours per year per adviser and results in an estimated 100 of total burden hours (4 × 25) for all advisers. This collection of information is mandatory, as it is used by Commission staff in its examination and oversight program in order to determine continued Commission registration eligibility for advisers registered under this rule. Responses generally are kept confidential pursuant to section 210(b) of the Advisers Act.4 Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the 1 17 CFR 275.203A–2(f). Included in rule 203A– 2(f) is a limited exception to the interactive website requirement which allows these advisers to provide investment advice to no more than 14 clients through other means on an annual basis. 17 CFR 275.203A–2(f)(1)(i). The rule also precludes advisers in a control relationship with the SECregistered Internet adviser from registering with the Commission under the common control exemption provided by rule 203A–2(c) [17 CFR 275.203A– 2(c)]. 17 CFR 275.203A–2(f)(1)(iii). 2 15 U.S.C. 80b–3a(a). 3 The five-year record retention period is the same recordkeeping retention period for all advisers imposed under rule 204–2 of the Adviser Act. See rule 204–2 [17 CFR 275.204–2]. 4 15 U.S.C. 80b–10(b). VerDate jul<14>2003 17:40 Jul 12, 2005 Jkt 205001 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. Please direct your written comments to R. Corey Booth, Director/Chief Information Officer, Office of Information Technology, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549. Dated: June 29, 2005. J. Lynn Taylor, Assistant Secretary. [FR Doc. 05–13715 Filed 7–12–05; 8:45 am] 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 10102 Executive Office Building, Washington, DC 20503 or send an e-mail 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: July 6, 2005. J. Lynn Taylor, Assistant Secretary. [FR Doc. E5–3709 Filed 7–12–05; 8:45 am] BILLING CODE 8010–01–P BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION 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: Regulation S–T; OMB Control No. 3235– 0424; SEC File No. 270–375. 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 discussed below. Regulation S–T sets forth the general rules and regulations for electronic filings. Registrants who have to file electronically are the likely respondents. Regulation S–T is only assigned one burden hour for administrative convenience because it does not directly impose any information collection requirements. The electronic filing requirement is mandatory for all companies required to file electronically. All information provided to the Commission is available to the public for review. An agency may not conduct or sponsor, and a person is not required to PO 00000 Frm 00102 Fmt 4703 Sfmt 4703 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 236; OMB Control No. 3235– 0095; SEC File No. 270–118. 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 discussed below. Rule 236 under the Securities Act of 1933 (‘‘Securities Act’’) requires issuers choosing to rely on an exemption from Securities Act registration for the issuance of fractional shares, scrip certificates or order forms, in connection with a stock dividend, stock split, reverse stock split, conversion, merger or similar transaction to furnish specified information to the Commission in writing at least ten days prior to the offering. The information is needed to provide public notice that an issuer is relying on the exemption. Public companies are the likely respondents. An estimated ten submissions are made pursuant to Rule 236 annually, resulting in an estimated annual total burden of 15 hours. The E:\FR\FM\13JYN1.SGM 13JYN1 Federal Register / Vol. 70, No. 133 / Wednesday, July 13, 2005 / Notices information is needed to establish qualification for reliance on the exemption. The information provided by Rule 236 is required to obtain or retain benefits. All information provided to the Commission is available to the public for review upon request. 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 10102, New Executive Office Building, Washington, DC 20503 or send 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: July 6, 2005. J. Lynn Taylor, Assistant Secretary. [FR Doc. E5–3710 Filed 7–12–05; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–51975; File No. SR–Amex– 2005–065] Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change and Amendment No. 1 Thereto Relating to Odd-Lots in Nasdaq Securities July 6, 2005. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on June 16, 2005, the American Stock Exchange LLC (‘‘Amex’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by Amex.3 On June 28, 2005, Amex filed 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 The Commission has made minor technical changes to this notice with Amex’s consent. Telephone conversation between Jan Woo, Attorney, Division of Market Regulation, Commission, and Laura Clare, Assistant General Counsel, Amex, dated July 5, 2005. 2 17 VerDate jul<14>2003 17:40 Jul 12, 2005 Jkt 205001 Amendment No. 1 to the proposed rule change.4 The Exchange filed the proposed rule change pursuant to Section 19(b)(3)(A) of the Act 5 and Rule 19b–4(f)(6) thereunder,6 which renders the proposed rule change effective upon filing with the Commission.7 The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change Amex proposes to extend for an additional six-month period ending December 30, 2005, the Exchange’s pilot program for odd-lot execution procedures for Nasdaq securities traded on the Exchange pursuant to unlisted trading privileges. There is no proposed rule text. Amex is making no changes to the pilot program as it currently operates, other than extending it through December 30, 2005. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, Amex included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. Amex has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Commission approved, and the Exchange implemented, a pilot program for odd-lot order 8 executions in Nasdaq securities transacted on the Exchange pursuant to unlisted trading privileges. Paragraph (j) of Amex Rule 118 (‘‘Trading in Nasdaq National Market Securities’’) describes the Exchange’s odd-lot execution procedures for 4 Amendment No. 1 made technical and clarifying changes to the proposed rule change. 5 15 U.S.C. 78s(b)(3)(A). 6 17 CFR 240.19b–4(f)(6). 7 The Exchange provided the Commission with written notice of its intention to file the proposed rule change on June 14, 2005. The Commission received the Exchange’s submission, and asked the Exchange to file the instant proposed rule change, pursuant to Rule 19b–4(f)(6) under the Act. 17 CFR 240.19–4(f)(6). 8 An odd-lot order is an order for less than 100 shares. PO 00000 Frm 00103 Fmt 4703 Sfmt 4703 40409 Nasdaq securities, and Commentary .05 of Amex Rule 205 (‘‘Manner of Executing Odd-Lot Orders’’) references Amex Rule 118(j) odd-lot procedures. The pilot program was originally approved on August 2, 2002 for a sixmonth period,9 and was extended four times, with the most recent extension due to expire on June 30, 2005.10 Under the Exchange’s current pilot program, after the opening of trading in Nasdaq securities, odd-lot market orders and executable odd-lot limit orders are executed at the qualified national best bid or offer 11 at the time the order is received at the trading post or through Amex Order File. Odd-lot market orders and executable odd-lot limit orders entered before the opening of trading in Nasdaq securities are executed at the price of the first round-lot or part of round-lot transaction on the Exchange. Non-executable limit orders, stop orders, stop limit orders, orders filled after the close and non-regular way trades are executed in accordance with Amex Rule 205 A(2), A(3), A(4), C(1) and C(2), respectively. Orders to buy or sell ‘‘at the close’’ are filled at the price of the closing round-lot sale on the Exchange. In a locked market condition, odd-lot market orders and executable odd-lot limit orders are executed at the locked market price. In a crossed market condition, odd-lot market orders are 9 See Securities Exchange Act Release No. 46304 (August 2, 2002), 67 FR 51903 (August 9, 2002)(SR– Amex–2002–56). 10 See Securities Exchange Act Release Nos. 48174 (July 14, 2003), 68 FR 43409 (July 22, 2003)(SR–Amex–2003–56)(extending the pilot until December 27, 2003); 48995 (December 24, 2003), 68 FR 75670 (December 31, 2003)(SR–Amex–2003– 102) (extending the pilot until June 27, 2004); 49855 (June 14, 2004), 69 FR 35399 (June 24, 2004)(SR– Amex–2004–30)(extending the pilot until December 27, 2004); and 50934 (December 27, 2004), 70 FR 412 (January 4, 2005)(SR–Amex–2004– 108)(extending the pilot until June 30, 2005). 11 In Amex Rule 118(j), the qualified national best bid and offer are defined as the highest bid and lowest offer, respectively, disseminated (A) by the Exchange or (B) by another market center participating in the Joint Self-Regulatory Organization Plan Governing the Collection, Consolidation and Dissemination of Quotation and Transaction Information for Nasdaq Listed Securities Traded on Exchanges on an Unlisted Trading Privileges Basis (‘‘Plan’’); provided, however, that the bid and offer in another such market center will be considered in determining the qualified national best bid or offer in a stock only if (i) the quotation conforms to the requirements of Amex Rule 127 (‘‘Minimum Price Variations’’), (ii) the quotation does not result in a locked or crossed market, (iii) the market center is not experiencing operational or system problems with respect to the dissemination of quotation information, and (iv) the bid or offer is ‘‘firm,’’ that is, members of the market center disseminating the bid or offer are not relieved of their obligations with respect to such bid or offer under paragraph (c)(2) of Rule 11Ac1–1 pursuant to the ‘‘unusual market’’ exception of paragraph (b)(3) of Rule 11Ac1–1 under the Act. 17 CFR 240.11Ac1–1. E:\FR\FM\13JYN1.SGM 13JYN1

Agencies

[Federal Register Volume 70, Number 133 (Wednesday, July 13, 2005)]
[Notices]
[Pages 40408-40409]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-3710]


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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 Filings and Information Services, Washington, DC 
20549.

Extension: Rule 236; OMB Control No. 3235-0095; SEC File No. 270-
118.

    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 discussed below.
    Rule 236 under the Securities Act of 1933 (``Securities Act'') 
requires issuers choosing to rely on an exemption from Securities Act 
registration for the issuance of fractional shares, scrip certificates 
or order forms, in connection with a stock dividend, stock split, 
reverse stock split, conversion, merger or similar transaction to 
furnish specified information to the Commission in writing at least ten 
days prior to the offering. The information is needed to provide public 
notice that an issuer is relying on the exemption. Public companies are 
the likely respondents. An estimated ten submissions are made pursuant 
to Rule 236 annually, resulting in an estimated annual total burden of 
15 hours. The

[[Page 40409]]

information is needed to establish qualification for reliance on the 
exemption. The information provided by Rule 236 is required to obtain 
or retain benefits. All information provided to the Commission is 
available to the public for review upon request.
    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 10102, New Executive Office 
Building, Washington, DC 20503 or send an e-mail 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: July 6, 2005.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E5-3710 Filed 7-12-05; 8:45 am]
BILLING CODE 8010-01-P
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