Proposed Collection; Comment Request, 73314-73315 [E5-7115]

Download as PDF 73314 Federal Register / Vol. 70, No. 236 / Friday, December 9, 2005 / Notices registration statement on Form X–15AJ– 1 correcting such inaccuracy. The Rule also requires an association to promptly notify the Commission of any change which renders no longer accurate any information contained or incorporated in its registration statement or in any amendment or supplement thereto by filing a current supplement on Form X– 15AJ–1. Rule 15Aj–1 further requires an association to file each year with the Commission an annual consolidated supplement on Form X–15AJ–2. The information required by Rule 15Aj–1 and Forms X–15AJ–1 and X– 15AJ–2 is intended to enable the Commission to carry out its statutorily mandated oversight functions and to assure that registered securities associations are in compliance with the Act. This information is also made available to members of the public. Without the requirements imposed by the Rule, the Commission would be unable to fulfill its regulatory responsibilities. There is presently only one registered securities association, which registered in 1939, subject to the Rule. The burdens associated with Rule 15Aj–1 requirements have been borne by only one securities association since Rule 15Aj–1 was adopted. Furthermore, the burdens associated with Rule 15Aj–1 vary depending on whether amendments and current supplements are filed on Form X–15AJ–1 in addition to an annual consolidated supplement filed on Form X–15AJ–2. The Commission staff estimates the burden in hours necessary to comply with the Rule by filing an amendment or a current supplement on Form X–15AJ–1 to be approximately one-half hour, with a related cost of $11, per response. The Commission staff estimates the burden in hours necessary to comply with the Rule by filing an annual consolidated supplement on Form X–15AJ–2 to be approximately three hours, with a related cost of $90. Therefore, the Commission staff estimates that the total annual related reporting cost associated with the Rule to be upwards of $90, assuming a minimum filing of an annual consolidated statement on Form X– 15AJ–2, with additional filings on Form X–15AJ–1 correspondingly increasing such reporting cost. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimate of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity VerDate Aug<31>2005 14:22 Dec 08, 2005 Jkt 208001 of the information to be 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. Direct your written comments to R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, Station Place, 100 F Street, NE., Washington, DC 20549. Dated: December 1, 2005. Jonathan G. Katz, Secretary. [FR Doc. E5–7113 Filed 12–8–05; 8:45 am] BILLING CODE 8010–01–P agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be 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. Direct your written comments to R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, Station Place, 100 F Street, NE., Washington, DC 20549. SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Dated: December 1, 2005. Jonathan G. Katz, Secretary. [FR Doc. E5–7114 Filed 12–8–05; 8:45 am] BILLING CODE 8010–01–P Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Extension: Rule 24b–1; SEC File No. 270– 205; OMB Control No. 3235–0194. 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. Rule 24b–1 (17 CFR 240.24b–1) requires a national securities exchange to keep and make available for public inspection a copy of its registration statement and exhibits filed with the Commission, along with any amendments thereto. There are eight national securities exchanges that spend approximately one half hour each complying with this rule, for an aggregate total compliance burden of four hours per year. The staff estimates that the average cost per respondent is $57.68 per year, calculated as the costs of copying ($12.36) plus storage ($45.32), resulting in a total cost of compliance for the respondents of $461.44. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the PO 00000 Frm 00121 Fmt 4703 Sfmt 4703 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 31a–1; SEC File No. 270– 173; OMB Control No. 3235–0178. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 [44 U.S.C. 3501–3520], the Securities and Exchange Commission (‘‘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. Rule 31a–1 [17 CFR 270.31a–1] under the Investment Company Act of 1940 (the ‘‘Act’’) is entitled ‘‘Records to be maintained by registered investment companies, certain majority-owned subsidiaries thereof, and other persons having transactions with registered investment companies.’’ Rule 31a–1 requires registered investment companies (‘‘funds’’), and every underwriter, broker, dealer, or investment adviser that is a majorityowned subsidiary of a fund, to maintain and keep current accounts, books, and other documents which constitute the record forming the basis for financial E:\FR\FM\09DEN1.SGM 09DEN1 Federal Register / Vol. 70, No. 236 / Friday, December 9, 2005 / Notices statements required to be filed pursuant to section 30 of the Act [15 U.S.C. 80a– 29] and of the auditor’s certificates relating thereto. The rule lists specific records to be maintained by funds. The rule also requires certain underwriters, brokers, dealers, depositors, and investment advisers to maintain the records that they are required to maintain under federal securities laws. There are approximately 4300 investment companies registered with the Commission, all of which are required to comply with rule 31a–1. For purposes of determining the burden imposed by rule 31a–1, the Commission staff estimates that each fund is divided into approximately four series, on average, and that each series is required to comply with the recordkeeping requirements of rule 31a–1. Based on conversations with fund representatives, it is estimated that rule 31a–1 imposes an average burden of approximately 1500 hours annually per series for a total of 6000 annual hours per fund. The estimated total annual burden for all 4300 funds subject to the rule therefore is approximately 25,800,000 hours. Based on conversations with fund representatives, however, the Commission staff estimates that even absent the requirements of rule 31a–1, 90 percent of the records created pursuant to the rule are the type that generally would be created as a matter of normal business custom and to prepare financial statements. The estimate of average burden hours is made solely for the purposes of the Paperwork Reduction Act, and is not derived from a comprehensive or even a representative survey or study. 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 OMB control number. Written comments are requested on: (a) Whether the collection of information is necessary for the proper performance of the functions of the Commission, including whether the information has practical utility; (b) the accuracy of the Commission’s estimate of the burden[s] 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 VerDate Aug<31>2005 14:22 Dec 08, 2005 Jkt 208001 Information Officer, Office of Information Technology, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549. Dated: November 30, 2005. Jonathan G. Katz, Secretary. [FR Doc. E5–7115 Filed 12–8–05; 8:45 am] BILLING CODE 8010–01–P 73315 LLP, 875 15th Street, Washington, DC 20005. FOR FURTHER INFORMATION CONTACT: Emerson S. Davis, Sr., Senior Counsel, at (202) 551–6868, or Nadya B. Roytblat, Assistant Director, at (202) 551–6821 (Division of Investment Management, Office of Investment Company Regulation). The following is a summary of the application. The complete application may be obtained for a fee from the Commission’s Public Reference Branch, 100 F Street, NE, Washington, DC 20549–0102 (telephone (202) 551–5850). SUPPLEMENTARY INFORMATION: SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 27177; 812–13173] Firsthand Funds and Firsthand Capital Management, Inc.; Notice of Application Applicants’ Representations 1. The Trust, a Delaware statutory trust, is registered under the Act as an December 2, 2005. open-end management investment AGENCY: Securities and Exchange company. The Trust currently offers five Commission (‘‘Commission’’). series (each a ‘‘Fund,’’ and collectively, ACTION: Notice of an application under the ‘‘Funds’’), each of which has its own section 6(c) of the Investment Company investment objectives, policies and Act of 1940 (the ‘‘Act’’) for an restrictions.1 The Adviser, registered exemption from section 15(a) of the Act under the Investment Advisers Act of and rule 18f–2 under the Act and 1940 (‘‘Advisers Act’’), serves as certain disclosure requirements. investment adviser to each Fund pursuant to an investment advisory Summary of the Application: The agreement with the Trust (‘‘Advisory requested order would permit certain Agreement’’), that was approved by the registered open-end management board of trustees of the Trust (the investment companies to enter into and ‘‘Board’’), including a majority of the materially amend subadvisory trustees who are not ‘‘interested agreements without shareholder persons,’’ as defined in section 2(a)(19) approval and would grant relief from of the Act of the Trust or the Adviser certain disclosure requirements. (‘‘Independent Trustees’’), and the Applicants: Firsthand Funds (the shareholders of each applicable Fund. ‘‘Trust’’) and Firsthand Capital 2. Under the terms of the Advisory Management, Inc. (the ‘‘Adviser’’). Agreement, the Adviser provides Filing Date: The application was filed investment advisory services to each on March 9, 2005 and amended on Fund, supervises the investment November 22, 2005. Hearing or Notification of Hearing: An program for each Fund, and has the authority, subject to Board approval, to order granting the application will be enter into investment subadvisory issued unless the Commission orders a hearing. Interested persons may request agreements (‘‘Subadvisory Agreements’’) with one or more subadvisers a hearing by writing to the (‘‘Subadvisers’’). Currently, the Funds Commission’s Secretary and serving do not have any Subadvisers. Each applicants with a copy of the request, Subadviser will be registered under the personally or by mail. Hearing requests Advisers Act. The Adviser will monitor should be received by the Commission by 5:30 p.m. on December 27, 2005, and 1 Applicants also request relief with respect to should be accompanied by proof of future Funds of the Trust and any other existing or service on applicants in the form of an future registered open-end management investment company or series thereof that: (a) Is advised by the affidavit or, for lawyers, a certificate of Adviser or a person controlling, controlled by or service. Hearing requests should state under common control with the Adviser; (b) uses the nature of the writer’s interest, the the management structure described in this reason for the request, and the issues application; and (c) complies with the terms and conditions of this application (included in the term contested. Persons may request ‘‘Funds’’). The only existing registered open-end notification by writing to the management investment company that currently Commission’s Secretary. intends to rely on the requested order is named as an applicant. If the name of any Fund contains the ADDRESSES: Secretary, U.S. Securities name of a Subadviser (as defined below), the name and Exchange Commission, 100 F of the Adviser or the name of the entity controlling, Street, NE, Washington, DC 20549– controlled by, or under common control with the 9303. Applicants, c/o Wendell M. Faria, Adviser that serves as the primary adviser to the Fund will precede the name of the Subadviser. Esq., Paul, Hastings, Janofsky & Walker PO 00000 Frm 00122 Fmt 4703 Sfmt 4703 E:\FR\FM\09DEN1.SGM 09DEN1

Agencies

[Federal Register Volume 70, Number 236 (Friday, December 9, 2005)]
[Notices]
[Pages 73314-73315]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-7115]


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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.

Extension: Rule 31a-1; SEC File No. 270-173; OMB Control No. 3235-
0178.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 [44 U.S.C. 3501-3520], the Securities and Exchange Commission 
(``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.
    Rule 31a-1 [17 CFR 270.31a-1] under the Investment Company Act of 
1940 (the ``Act'') is entitled ``Records to be maintained by registered 
investment companies, certain majority-owned subsidiaries thereof, and 
other persons having transactions with registered investment 
companies.'' Rule 31a-1 requires registered investment companies 
(``funds''), and every underwriter, broker, dealer, or investment 
adviser that is a majority-owned subsidiary of a fund, to maintain and 
keep current accounts, books, and other documents which constitute the 
record forming the basis for financial

[[Page 73315]]

statements required to be filed pursuant to section 30 of the Act [15 
U.S.C. 80a-29] and of the auditor's certificates relating thereto. The 
rule lists specific records to be maintained by funds. The rule also 
requires certain underwriters, brokers, dealers, depositors, and 
investment advisers to maintain the records that they are required to 
maintain under federal securities laws.
    There are approximately 4300 investment companies registered with 
the Commission, all of which are required to comply with rule 31a-1. 
For purposes of determining the burden imposed by rule 31a-1, the 
Commission staff estimates that each fund is divided into approximately 
four series, on average, and that each series is required to comply 
with the recordkeeping requirements of rule 31a-1. Based on 
conversations with fund representatives, it is estimated that rule 31a-
1 imposes an average burden of approximately 1500 hours annually per 
series for a total of 6000 annual hours per fund. The estimated total 
annual burden for all 4300 funds subject to the rule therefore is 
approximately 25,800,000 hours. Based on conversations with fund 
representatives, however, the Commission staff estimates that even 
absent the requirements of rule 31a-1, 90 percent of the records 
created pursuant to the rule are the type that generally would be 
created as a matter of normal business custom and to prepare financial 
statements.
    The estimate of average burden hours is made solely for the 
purposes of the Paperwork Reduction Act, and is not derived from a 
comprehensive or even a representative survey or study. 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 OMB 
control number.
    Written comments are requested on: (a) Whether the collection of 
information is necessary for the proper performance of the functions of 
the Commission, including whether the information has practical 
utility; (b) the accuracy of the Commission's estimate of the burden[s] 
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: November 30, 2005.
Jonathan G. Katz,
Secretary.
[FR Doc. E5-7115 Filed 12-8-05; 8:45 am]
BILLING CODE 8010-01-P
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