Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to a Systems Enhancement for the Processing of Information in Its Restricted Deposit Service, 71180-71181 [E5-6470]
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Federal Register / Vol. 70, No. 226 / Friday, November 25, 2005 / Notices
Due Date: Written statements should
be received on or before December 7,
2005.
Written statements may be
submitted by any of the following
methods:
ADDRESSES:
Electronic Statements
• Use the Commission’s Internet
submission form (https://www.sec.gov/
info/smallbus/acspc.shtml); or
• Send an e-mail message to rulecomments@sec.gov. Please include File
Number 265–23 on the subject line; or
Paper Statements
• Send paper statements in triplicate
to Jonathan G. Katz, Committee
Management Officer, Securities and
Exchange Commission, 100 F Street,
NE., Washington, DC 20549–9303.
All submissions should refer to File
No. 265–23. This file number should be
included on the subject line if e-mail is
used. To help us process and review
your statement more efficiently, please
use only one method. The Commission
staff will post all statements on the
Advisory Committee’s Web site (https://
www.sec.gov./info/smallbus/
acspc.shtml).
Statements also will be available for
public inspection and copying in the
Commission’s Public Reference Room,
100 F Street, NE., Room 1580,
Washington, DC 20549. All statements
received will be posted without change;
we do not edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–52785; File No. SR-DTC–
2005–17]
Self-Regulatory Organizations; The
Depository Trust Company; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Relating to a
Systems Enhancement for the
Processing of Information in Its
Restricted Deposit Service
November 16, 2005.
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 notice is hereby given that on
October 11, 2005, The Depository Trust
Company (‘‘DTC’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) a proposed rule change
and on November 16, 2005, amended
the proposed rule change described in
Items I, II, and III below, which items
have been prepared primarily by DTC.
The Commission is publishing this
notice to solicit comments on the
proposed rule change from interested
parties.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The proposed rule change would
effect a systems enhancement in DTC’s
Restricted Deposit Service (‘‘RDS’’) to
permit users to transmit restricted stock
information directly to DTC rather than
manually entering the information.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
Kevin M. O’Neill, Special Counsel, at
(202) 551–3260, Office of Small
Business Policy, Division of Corporation
Finance, Securities and Exchange
Commission, 100 F Street, NE.,
Washington, DC 20549–3628.
In
accordance with Section 10(a) of the
Federal Advisory Committee Act, 5
U.S.C.-App. 1, Section 10(a), and the
regulations thereunder, Gerald J.
Laporte, Designated Federal Officer of
the Committee, has ordered publication
of this notice.
In its filing with the Commission,
DTC 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. DTC has prepared
summaries, set forth in sections (A), (B),
and (C) below, of the most significant
aspects of these statements.2
(A) Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
FOR FURTHER INFORMATION CONTACT:
SUPPLEMENTARY INFORMATION:
Dated: November 18, 2005.
Jonathan G. Katz,
Committee Management Officer.
[FR Doc. E5–6516 Filed 11–23–05; 8:45 am]
BILLING CODE 8010–01–P
VerDate Aug<31>2005
14:11 Nov 23, 2005
Jkt 205001
RDS allows DTC participants to use
the depository to handle the removal of
restrictions on securities. DTC provides
negotiability and documentation review
of deposited restricted securities, images
1 15
U.S.C. 78s(b)(1).
2 The Commission has modified the text of the
summaries prepared by DTC.
PO 00000
Frm 00102
Fmt 4703
Sfmt 4703
and delivers them to transfer agents, and
arranges for their prompt transfer into
unrestricted securities. Restricted
securities generally are securities
purchased in private placements
directly from an issuer before the
company is public. They may also be
stock acquired through a corporate
reorganization or acquisition, in return
for services, or from an original
shareholder.3
Currently, a participant seeking to
initiate use of RDS will transmit
restricted securities deposit information
to DTC through the Restricted Deposit
Service by Participant function
(‘‘RDSP’’) of DTC’s Participant Terminal
System. Until now the transmission of
such information has required the
participant to manually input data
directly into RDSP; however,
participants often have already input
such information into other applications
and thus transmitting the information to
RDSP requires duplication of effort.
With this filing, DTC proposes to
enhance this process to permit
participants to transfer such information
directly from another application
containing the information to RDSP.
The application used for transmission of
information to RDSP would either be
one selected by DTC or at the election
of the participant another application so
long as such application meets technical
requirements as determined by DTC.
The proposed change is consistent
with section 17A of the Act 4 and the
rules and regulations thereunder
applicable to DTC because it is designed
to remove impediments to and perfect a
mechanism for the prompt and accurate
clearance ad settlement of securities
transactions.
(B) Self-Regulatory Organization’s
Statement on Burden on Competition
DTC does not believe that the
proposed rule change will have any
impact or impose any burden on
competition.
(C) Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received from
Members, Participants, or Others
Written comments relating to the
proposed rule change have not yet been
solicited or received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective upon filing pursuant to section
3 See Securities Exchange Act Release No. 41891
(September 20, 1999), 64 FR 52115 (September 27,
1999) [File No. SR–DTC–99–101].
4 15 U.S.C. 78q–1.
E:\FR\FM\25NON1.SGM
25NON1
Federal Register / Vol. 70, No. 226 / Friday, November 25, 2005 / Notices
19(b)(3)(A)(iii) of the Act 5 and Rule
19b–4(f)(4) 6 thereunder because the
proposed rule effects a change in an
existing service of DTC that (i) does not
adversely affect the safeguarding of
securities or funds in the custody or
control of DTC or for which it is
responsible and (ii) does not
significantly affect the respective rights
or obligations of DTC or persons using
the service. At any time within sixty
days of the filing of the proposed rule
change, the Commission may summarily
abrogate such rule change if it appears
to the Commission that such action is
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.7
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change, as amended, is consistent with
the Act. Comments may be submitted by
any of the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml) or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–DTC–2005–17 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Jonathan G. Katz, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–9303.
All submissions should refer to File
Number SR–DTC–2005–17. This file
number should be included on the
subject line if e-mail is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
5 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 249.19b–4(f)(4)
7 For purposes of calculating the 60-day period
within which the Commission may summarily
abrogate the proposed rule change under section
19(b)(3)(C) of the Act, the Commission considers
the period to commence on the date on which the
last amendment to the proposed rule change was
filed with the Commission. 15 U.S.C. 78s(b)(3)(C).
6 17
VerDate Aug<31>2005
14:11 Nov 23, 2005
Jkt 205001
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for inspection and copying in
the Commission’s Public Reference
Section, 100 F Street, NE., Washington,
DC 20549. Copies of such filing also will
be available for inspection and copying
at the principal office of DTC and on
DTC’s Web site at https://
login.dtcc.com/dtcorg/. All comments
received will be posted without change;
the Commission does not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File Number SR–DTC–
2005–17 and should be submitted on or
before December 16, 2005.
For the Commission by the Division of
Market Regulation, pursuant to delegated
authority.8
Jonathan G. Katz,
Secretary.
[FR Doc. E5–6470 Filed 11–23–05; 8:45 am]
BILLING CODE 8010–01–P
DEPARTMENT OF STATE
[Public Notice 5236]
30-Day Notice of Proposed Information
Collection: Form DS-71, Affidavit of
Identifying Witness; OMB Number
1405-0088
Notice of request for public
comment and submission to OMB of
proposed collection of information.
ACTION:
SUMMARY: The Department of State has
submitted the following information
collection request to the Office of
Management and Budget (OMB) for
approval in accordance with the
Paperwork Reduction Act of 1995.
Title of Information Collection:
Affidavit of Identifying Witness
OMB Control Number: 1405–0088.
Type of Request: Revision of a
Currently Approved Collection.
Originating Office: Bureau of Consular
Affairs, Department of State, Passport
Services, Office of Field Operations,
Field Coordination Division. CA/PPT/
FO/FC.
Form Number: DS–71.
Respondents: Individuals or
Households.
Estimated Number of Respondents:
140,000.
Estimated Number of Responses:
140,000.
8 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00103
Fmt 4703
Sfmt 4703
71181
Average Hours Per Response: 1⁄2 (5
min.).
Total Estimated Burden: 11,700.
Frequency: On occasion.
Obligation to Respond: Required To
Obtain a Benefit.
DATES: Submit comments to the Office
of Management and Budget (OMB) for
up to 30 days from December 27, 2005.
ADDRESSES: Direct comments and
questions to Katherine Astrich, the
Department of State Desk Officer in the
Office of Information and Regulatory
Affairs at the Office of Management and
Budget (OMB), who may be reached at
202–395–4718. You may submit
comments by any of the following
methods:
• E-mail:
Katherine_T._Astrich@omb.eop.gov.
You must include the DS form number,
information collection title, and OMB
control number in the subject line of
your message.
• Mail (paper, disk, or CD–ROM
submissions): Office of Information and
Regulatory Affairs, Office of
Management and Budget, 725 17th
Street, NW., Washington, DC 20503.
• Fax: 202–395–6974.
FOR FURTHER INFORMATION CONTACT:
Direct requests for additional
information regarding the collection
listed in this notice, including requests
for copies of the proposed information
collection and supporting documents, to
Susan Cowlishaw, U.S. Department of
State, CA/PPT/FO/FC, 2100
Pennsylvania Avenue, NW., 3rd Floor/
Room 3040 SA–29, Washington, DC
20037, who may be reached on 202–
261–8957 or Cowlishawsc@state.gov.
SUPPLEMENTARY INFORMATION: We are
soliciting public comments to permit
the Department to:
• Evaluate whether the proposed
information collection is necessary to
properly perform our functions.
• Evaluate the accuracy of our
estimate of the burden of the proposed
collection, including the validity of the
methodology and assumptions used.
• Enhance the quality, utility, and
clarity of the information to be
collected.
• Minimize the reporting burden on
those who are to respond, including the
use of automated collection techniques
or other forms of technology.
Abstract of proposed collection: The
Affidavit of Identifying Witness (Form
DS–71) is used by the Department of
State in making a determination of the
applicant’s eligibility to be documented
as a citizen or a non-citizen national of
the United States. The form is used by
Acceptance Agents and Consular
Officers to collect information for the
E:\FR\FM\25NON1.SGM
25NON1
]]>Agencies
[Federal Register Volume 70, Number 226 (Friday, November 25, 2005)]
[Notices]
[Pages 71180-71181]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-6470]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-52785; File No. SR-DTC-2005-17]
Self-Regulatory Organizations; The Depository Trust Company;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Relating to a Systems Enhancement for the Processing of Information in
Its Restricted Deposit Service
November 16, 2005.
Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ notice is hereby given that on October 11, 2005, The
Depository Trust Company (``DTC'') filed with the Securities and
Exchange Commission (``Commission'') a proposed rule change and on
November 16, 2005, amended the proposed rule change described in Items
I, II, and III below, which items have been prepared primarily by DTC.
The Commission is publishing this notice to solicit comments on the
proposed rule change from interested parties.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The proposed rule change would effect a systems enhancement in
DTC's Restricted Deposit Service (``RDS'') to permit users to transmit
restricted stock information directly to DTC rather than manually
entering the information.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, DTC 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. DTC has prepared summaries, set forth in sections (A),
(B), and (C) below, of the most significant aspects of these
statements.\2\
---------------------------------------------------------------------------
\2\ The Commission has modified the text of the summaries
prepared by DTC.
---------------------------------------------------------------------------
(A) Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
RDS allows DTC participants to use the depository to handle the
removal of restrictions on securities. DTC provides negotiability and
documentation review of deposited restricted securities, images and
delivers them to transfer agents, and arranges for their prompt
transfer into unrestricted securities. Restricted securities generally
are securities purchased in private placements directly from an issuer
before the company is public. They may also be stock acquired through a
corporate reorganization or acquisition, in return for services, or
from an original shareholder.\3\
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 41891 (September 20,
1999), 64 FR 52115 (September 27, 1999) [File No. SR-DTC-99-101].
---------------------------------------------------------------------------
Currently, a participant seeking to initiate use of RDS will
transmit restricted securities deposit information to DTC through the
Restricted Deposit Service by Participant function (``RDSP'') of DTC's
Participant Terminal System. Until now the transmission of such
information has required the participant to manually input data
directly into RDSP; however, participants often have already input such
information into other applications and thus transmitting the
information to RDSP requires duplication of effort.
With this filing, DTC proposes to enhance this process to permit
participants to transfer such information directly from another
application containing the information to RDSP. The application used
for transmission of information to RDSP would either be one selected by
DTC or at the election of the participant another application so long
as such application meets technical requirements as determined by DTC.
The proposed change is consistent with section 17A of the Act \4\
and the rules and regulations thereunder applicable to DTC because it
is designed to remove impediments to and perfect a mechanism for the
prompt and accurate clearance ad settlement of securities transactions.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78q-1.
---------------------------------------------------------------------------
(B) Self-Regulatory Organization's Statement on Burden on Competition
DTC does not believe that the proposed rule change will have any
impact or impose any burden on competition.
(C) Self-Regulatory Organization's Statement on Comments on the
Proposed Rule Change Received from Members, Participants, or Others
Written comments relating to the proposed rule change have not yet
been solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective upon filing pursuant
to section
[[Page 71181]]
19(b)(3)(A)(iii) of the Act \5\ and Rule 19b-4(f)(4) \6\ thereunder
because the proposed rule effects a change in an existing service of
DTC that (i) does not adversely affect the safeguarding of securities
or funds in the custody or control of DTC or for which it is
responsible and (ii) does not significantly affect the respective
rights or obligations of DTC or persons using the service. At any time
within sixty days of the filing of the proposed rule change, the
Commission may summarily abrogate such rule change if it appears to the
Commission that such action is necessary or appropriate in the public
interest, for the protection of investors, or otherwise in furtherance
of the purposes of the Act.\7\
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78s(b)(3)(A)(iii).
\6\ 17 CFR 249.19b-4(f)(4)
\7\ For purposes of calculating the 60-day period within which
the Commission may summarily abrogate the proposed rule change under
section 19(b)(3)(C) of the Act, the Commission considers the period
to commence on the date on which the last amendment to the proposed
rule change was filed with the Commission. 15 U.S.C. 78s(b)(3)(C).
---------------------------------------------------------------------------
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change, as amended, is consistent with the Act. Comments may be
submitted by any of the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://
www.sec.gov/rules/sro.shtml) or
Send an e-mail to rule-comments@sec.gov. Please include
File Number SR-DTC-2005-17 on the subject line.
Paper Comments
Send paper comments in triplicate to Jonathan G. Katz,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-9303.
All submissions should refer to File Number SR-DTC-2005-17. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (https://www.sec.gov/rules/
sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for inspection and
copying in the Commission's Public Reference Section, 100 F Street,
NE., Washington, DC 20549. Copies of such filing also will be available
for inspection and copying at the principal office of DTC and on DTC's
Web site at https://login.dtcc.com/dtcorg/. All comments received will
be posted without change; the Commission does not edit personal
identifying information from submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-DTC-2005-17 and should be submitted on
or before December 16, 2005.
For the Commission by the Division of Market Regulation,
pursuant to delegated authority.\8\
---------------------------------------------------------------------------
\8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Jonathan G. Katz,
Secretary.
[FR Doc. E5-6470 Filed 11-23-05; 8:45 am]
BILLING CODE 8010-01-P
