Submission for OMB Review; Comment Request, 60866 [E5-5746]

Download as PDF 60866 Federal Register / Vol. 70, No. 201 / Wednesday, October 19, 2005 / Notices 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 requests for extension on the previously approved collection of information discussed below. Rule 15c1–5 states that any brokerdealer controlled by, controlling, or under common control with the issuer of a security that the broker-dealer is trying to sell to or buy from a customer must give the customer written notification disclosing the control relationship at or before completion of the transaction. The Commission estimates that 360 respondents collect information annually under Rule 15c1– 5 and that approximately 3,600 hours would be required annually for these collections. There is no retention period requirement under Rule 15c1–5. This Rule does not involve the collection of confidential information. 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. Written comments regarding the information above should be directed to the following persons: (i) the Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Building, Washington, DC 20503 or by sending 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, Station Place, 100 F Street, NE., Washington, DC 20549. Comments must be submitted to OMB within 30 days of this notice. Dated: October 11, 2005. J. Lynn Taylor, Assistant Secretary. [FR Doc. E5–5745 Filed 10–18–05; 8:45 am] 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 request for approval of extension on the following rule: Rule 15c1–6 states that any brokerdealer trying to sell to or buy from a customer a security in a primary or secondary distribution in which the broker-dealer is participating or is otherwise financially interested must give the customer written notification of the broker-dealer’s participation or interest at or before completion of the transaction. The Commission estimates that 725 respondents collect information annually under Rule 15c1–6 and that approximately 7,250 hours would be required annually for these collections. There is no retention period requirement under Rule 15c1–6. This Rule does not involve the collection of confidential information. 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. Written comments regarding the estimated burden hours should be directed to: (i) the 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, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549. Comments must be submitted to OMB within 30 days of this notice. Dated: October 11, 2005. J. Lynn Taylor, Assistant Secretary. [FR Doc. E5–5746 Filed 10–18–05; 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 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 15c1–6, SEC File No. 270– 423, OMB Control No. 3235–0472 VerDate Aug<31>2005 14:50 Oct 18, 2005 Jkt 208001 Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549–0004. Extension: Rule 32a–4; SEC File No. 270–473; OMB Control No. 3235–0530. PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 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 requests for extension of the previously approved collections of information discussed below. Section 32(a)(2) of the Investment Company Act requires that shareholders of a registered investment management or face-amount certificate company (‘‘fund’’) ratify or reject the selection of a fund’s independent public accountant. Rule 32a–4 exempts a fund from this requirement if (i) the fund’s board of directors establishes an audit committee composed solely of independent directors with responsibility for overseeing the fund’s accounting and auditing processes,1 (ii) the fund’s board of directors adopts an audit committee charter setting forth the committee’s structure, duties, powers and methods of operation, or sets out similar provisions in the fund’s charter or bylaws,2 and (iii) the fund maintains a copy of such an audit committee charter permanently in an easily accessible place.3 Each fund that chooses to rely on rule 32a–4 incurs two collection of information burdens. The first, related to the board of directors’ adoption of the audit committee charter, occurs once, when the committee is established. The second, related to the fund’s maintenance and preservation of a copy of the charter in an easily accessible place, is an ongoing annual burden. The information collection requirement in rule 32a–4 enables the Commission to monitor the duties and responsibilities of an independent audit committee formed by a fund relying on the rule. Commission staff estimates that, on average, the board of directors takes 15 minutes to adopt the audit committee charter. Commission staff has estimated that with an average of 8 directors on the board,4 total director time to adopt the charter is 2 hours. Combined with an estimated 1 hour of paralegal time to prepare the charter for board review, the staff estimates a total one-time collection of information burden of 3 hours for each fund. Once a board adopts an audit committee charter, a fund generally maintains it in a file cabinet or as a computer file. Commission staff has estimated that 1 Rule 32a–4(a). 32a–4(b). 3 Rule 32a–4(c). 4 See Management Practice Inc. Bulletin: Fund directors pay increases 17% in smaller complexes, 8% in larger (2003) available at https:// www.mfgovern.com. 2 Rule E:\FR\FM\19OCN1.SGM 19OCN1

Agencies

[Federal Register Volume 70, Number 201 (Wednesday, October 19, 2005)]
[Notices]
[Page 60866]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-5746]


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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 15c1-6, SEC File No. 270-423, OMB Control No. 
3235-0472

    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 request for approval of extension on the following rule:
    Rule 15c1-6 states that any broker-dealer trying to sell to or buy 
from a customer a security in a primary or secondary distribution in 
which the broker-dealer is participating or is otherwise financially 
interested must give the customer written notification of the broker-
dealer's participation or interest at or before completion of the 
transaction. The Commission estimates that 725 respondents collect 
information annually under Rule 15c1-6 and that approximately 7,250 
hours would be required annually for these collections.
    There is no retention period requirement under Rule 15c1-6. This 
Rule does not involve the collection of confidential information. 
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.
    Written comments regarding the estimated burden hours should be 
directed to: (i) the 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, Securities 
and Exchange Commission, 100 F Street, NE., Washington, DC 20549. 
Comments must be submitted to OMB within 30 days of this notice.

    Dated: October 11, 2005.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E5-5746 Filed 10-18-05; 8:45 am]
BILLING CODE 8010-01-P
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