Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Amendments to Administrative Rules (Rules A-3(f) and A-6(c)) Relating to Board Member Compensation, 1781-1782 [E6-135]
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Federal Register / Vol. 71, No. 7 / Wednesday, January 11, 2006 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53051; File No. SR–MSRB–
2005–17]
Self-Regulatory Organizations;
Municipal Securities Rulemaking
Board; Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change Relating to Amendments to
Administrative Rules (Rules A–3(f) and
A–6(c)) Relating to Board Member
Compensation
January 4, 2006.
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on December
16, 2005, the Municipal Securities
Rulemaking Board (‘‘MSRB’’ or
‘‘Board’’), filed with the Securities and
Exchange Commission (‘‘Commission’’
or ‘‘SEC’’) the proposed rule change as
described in Items I, II and III below,
which Items have been prepared by the
MSRB. The MSRB has filed the proposal
pursuant to section 19(b)(3)(A)(iii) of the
Act,3 and Rule 19b–4(f)(3) thereunder,4
which renders the proposal effective
upon filing with the Commission. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
rmajette on PROD1PC71 with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The MSRB is filing with the
Commission a proposed rule change
consisting of amendments to Rules A–
3(f) and A–6(c) relating to Board
member compensation. The text of the
proposed rule change is available on the
MSRB’s Web site (https://www.msrb.org),
at the MSRB’s principal office, and at
the Commission’s Public Reference
Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
MSRB 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. The MSRB has
prepared summaries, set forth in
sections A, B, and C below, of the most
significant aspects of such statements.
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(3).
2 17
VerDate Aug<31>2005
14:20 Jan 10, 2006
Jkt 208001
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The MSRB has been reviewing its
Administrative Rules (‘‘A-Rules’’) to
make sure that they are consistent with
Virginia law (where the MSRB is
incorporated) and current good
corporate governance practices. Rule A–
3(f), on compensation and expenses,
and Rule A–6(c), on committees of the
Board, both pertain to Board member
compensation practices. These two
provisions are somewhat outdated and
do not allow the Board appropriate
administrative flexibility to implement
improved compensation and
reimbursement practices consistent with
the Board’s corporate governance
practices. To accomplish this goal, the
Board determined that Rule A–6(c)
should be deleted and Rule A–3(f)
should be modeled on a provision found
in the NASD and Nasdaq By-Laws 5
such that the Board has a general grant
of authority to provide for reasonable
compensation and/or reimbursement to
Board and committee members.
2. Statutory Basis
The MSRB believes that the proposed
rule change is consistent with section
15B(b)(2)(I) of the Act,6 which provides
that MSRB rules shall ‘‘provide for the
operation and administration of the
Board, including the selection of a
Chairman from among the members of
the Board, the compensation of the
members of the Board, and the
appointment and compensation of such
employees, attorneys, and consultants
as may be necessary or appropriate to
carry out the Board’s functions under
this section.’’ 7 The MSRB believes that
the proposed rule change is consistent
with these provisions in that it relates
to the operation and administration of
the Board and the compensation of
members of the Board.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The MSRB does not believe that the
proposed rule change will result in any
burden on competition not necessary or
appropriate in furtherance of the
purposes of the Act since it would apply
5 See NASD By-Law Sec. 9.1, on Compensation of
Board, Council, and Committee Members
(Amended by SR–NASD–97–71 eff. Jan 15, 1998.);
and Nasdaq By-Law Sec. 6.1, on Compensation of
Board, Council, and Committee Members
(Amended by SR–NASD–97–71 eff. Jan 15, 1998.)
6 15 U.S.C. 78o–4(b)(2)(I).
7 Id.
PO 00000
Frm 00051
Fmt 4703
Sfmt 4703
1781
solely to internal operational and
administrative matters.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
Written comments were neither
solicited nor received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The proposed rule change has become
effective pursuant to section 19(b)(3)(A)
of the Act 8 and Rule 19b–4(f)(3)
thereunder 9 because it is concerned
solely with the administration of the
MSRB. At any time within 60 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.10
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change 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–MSRB–2005–17 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street, NE.,
Washington, DC 20549–9303.
All submissions should refer to File
Number SR–MSRB–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
8 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(3).
10 See section 19(b)(3)(C) of the Act, 15 U.S.C.
78s(b)(3)(C).
9 17
E:\FR\FM\11JAN1.SGM
11JAN1
1782
Federal Register / Vol. 71, No. 7 / Wednesday, January 11, 2006 / Notices
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
Room. Copies of such filing also will be
available for inspection and copying at
the principal office of the MSRB. 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–MSRB–2005–17 and should
be submitted on or before February 1,
2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.11
Nancy M. Morris,
Secretary.
[FR Doc. E6–135 Filed 1–10–06; 8:45 am]
BILLING CODE 8010–01–P
DEPARTMENT OF TRANSPORTATION
National Highway Traffic Safety
Administration
[U.S. DOT Docket Number NHTSA–2006–
23530]
Reports, Forms, and Recordkeeping
Requirements
National Highway Traffic
Safety Administration (NHTSA),
Department of Transportation.
ACTION: Request for public comment on
proposed collection of information.
AGENCY:
Before a Federal agency can
collect certain information from the
public, it must receive approval from
the Office of Management and Budget
(OMB). Under procedures established
by the Paperwork Reduction Act of
1995, before seeking OMB approval,
Federal agencies must solicit public
comment on proposed collections of
information, including extensions and
reinstatement of previously approved
collections.
This document describes one
collection of information for which
NHTSA intends to seek OMB approval.
DATES: Comments must be received on
or before March 13, 2006.
rmajette on PROD1PC71 with NOTICES
SUMMARY:
11 17
CFR 200.30–3(a)(12).
VerDate Aug<31>2005
14:20 Jan 10, 2006
Jkt 208001
Comments must refer to the
docket notice numbers cited at the
beginning of this notice and be
submitted to Docket Management, Room
PL–401, 400 Seventh Street, SW.,
Washington, DC 20590. Please identify
the proposed collection of information
for which a comment is provided, by
referencing its OMB clearance number.
It is requested, but not required, that 2
copies of the comment be provided. The
Docket Section is open on weekdays
from 10 a.m. to 5 p.m.
FOR FURTHER INFORMATION CONTACT: Gary
Toth, Office of Data Acquisitions (NPO–
110), Room 6213, 400 Seventh Street,
SW., Washington, DC 20590. Mr. Toth’s
telephone number is (202) 366–5378.
Please identify the relevant collection of
information by referring to its OMB
Control Number.
SUPPLEMENTARY INFORMATION: Under the
Paperwork Reduction Act of 1995,
before an agency submits a proposed
collection of information to OMB for
approval, it must first publish a
document in the Federal Register
providing a 60-day comment period and
otherwise consult with members of the
public and affected agencies concerning
each proposed collection of information.
The OMB has promulgated regulations
describing what must be included in
such a document. Under OMB’s
regulation (at 5 CFR 1320.8(d)), an
agency must ask for public comment on
the following:
(i) Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information will have practical utility;
(ii) The accuracy of the agency’s
estimate of the burden of the proposed
collection of information, including the
validity of the methodology and
assumptions used;
(iii) How to enhance the quality,
utility, and clarity of the information to
be collected;
(iv) How to minimize the burden of
the collection of information on those
who are to respond including the use of
appropriate automated, electronic,
mechanical, or other technological
collection techniques or other forms of
information technology, e.g. permitting
electronic submission of responses.
In compliance with these
requirements, NHTSA asks for public
comments on the following proposed
collections of information:
Title: National Automotive Sampling
System (NASS).
Type of Request: Extension of a
currently approved collection.
OMB Control Number: 2127–0021.
Affected Public: Passenger Motor
Vehicle Operators.
ADDRESSES:
PO 00000
Frm 00052
Fmt 4703
Sfmt 4703
Abstract: The collection of crash data
that support the establishment and
enforcement of motor vehicle
regulations that reduce the severity of
injury and property damage caused by
motor vehicle crashes is authorized
under the National Traffic and Motor
Vehicle Safety Act of 1966 (Pub. L. 89–
563, Title 1, Sec. 106, 108, and 112).
The National Automotive Sampling
System (NASS) Crashworthiness Data
System (CDS) of the National Highway
Traffic Safety Administration
investigates high severity crashes. Once
a crash has been selected for
investigation, researchers locate, visit,
measure, and photograph the crash
scene; locate, inspect, and photograph
vehicles; conduct a telephone or
personal interview with the involved
individuals or surrogate; and obtain and
record injury information received from
various medical data sources. NASS
CDS data are used to describe and
analyze circumstances, mechanisms,
and consequences of high severity
motor vehicle crashes in the United
States. The collection of interview data
aids in this effort.
Estimated Annual Burden: 5,807
hours.
Number of Respondents: 13,500.
Issued on: January 4, 2006.
Joseph S. Carra,
Associate Administrator, National Center for
Statistics and Analysis.
[FR Doc. E6–137 Filed 1–10–06; 8:45 am]
BILLING CODE 4910–59–P
DEPARTMENT OF TRANSPORTATION
National Highway Traffic Safety
Administration
Petition for Exemption From the
Vehicle Theft Prevention Standard;
Mercedes-Benz
National Highway Traffic
Safety Administration (NHTSA)
Department of Transportation (DOT).
ACTION: Grant of petition for exemption.
AGENCY:
SUMMARY: This document grants in full
the petition of Mercedes-Benz USA,
LLC., (MBUSA) in accordance with
§ 543.9(c)(2) of 49 CFR Part 543,
Exemption from the Theft Prevention
Standard, for the S-Line Chassis vehicle
line. This petition is granted because the
agency has determined that the antitheft
device to be placed on the line as
standard equipment is likely to be as
effective in reducing and deterring
motor vehicle theft as compliance with
the parts-marking requirements of the
Theft Prevention Standard. MBUSA
requested confidential treatment for
E:\FR\FM\11JAN1.SGM
11JAN1
]]>Agencies
[Federal Register Volume 71, Number 7 (Wednesday, January 11, 2006)]
[Notices]
[Pages 1781-1782]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-135]
[[Page 1781]]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-53051; File No. SR-MSRB-2005-17]
Self-Regulatory Organizations; Municipal Securities Rulemaking
Board; Notice of Filing and Immediate Effectiveness of Proposed Rule
Change Relating to Amendments to Administrative Rules (Rules A-3(f) and
A-6(c)) Relating to Board Member Compensation
January 4, 2006.
Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on December 16, 2005, the Municipal Securities Rulemaking Board
(``MSRB'' or ``Board''), filed with the Securities and Exchange
Commission (``Commission'' or ``SEC'') the proposed rule change as
described in Items I, II and III below, which Items have been prepared
by the MSRB. The MSRB has filed the proposal pursuant to section
19(b)(3)(A)(iii) of the Act,\3\ and Rule 19b-4(f)(3) thereunder,\4\
which renders the proposal effective upon filing with the Commission.
The Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A)(iii).
\4\ 17 CFR 240.19b-4(f)(3).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The MSRB is filing with the Commission a proposed rule change
consisting of amendments to Rules A-3(f) and A-6(c) relating to Board
member compensation. The text of the proposed rule change is available
on the MSRB's Web site (https://www.msrb.org), at the MSRB's principal
office, and at the Commission's Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the MSRB 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. The MSRB 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 MSRB has been reviewing its Administrative Rules (``A-Rules'')
to make sure that they are consistent with Virginia law (where the MSRB
is incorporated) and current good corporate governance practices. Rule
A-3(f), on compensation and expenses, and Rule A-6(c), on committees of
the Board, both pertain to Board member compensation practices. These
two provisions are somewhat outdated and do not allow the Board
appropriate administrative flexibility to implement improved
compensation and reimbursement practices consistent with the Board's
corporate governance practices. To accomplish this goal, the Board
determined that Rule A-6(c) should be deleted and Rule A-3(f) should be
modeled on a provision found in the NASD and Nasdaq By-Laws \5\ such
that the Board has a general grant of authority to provide for
reasonable compensation and/or reimbursement to Board and committee
members.
---------------------------------------------------------------------------
\5\ See NASD By-Law Sec. 9.1, on Compensation of Board, Council,
and Committee Members (Amended by SR-NASD-97-71 eff. Jan 15, 1998.);
and Nasdaq By-Law Sec. 6.1, on Compensation of Board, Council, and
Committee Members (Amended by SR-NASD-97-71 eff. Jan 15, 1998.)
---------------------------------------------------------------------------
2. Statutory Basis
The MSRB believes that the proposed rule change is consistent with
section 15B(b)(2)(I) of the Act,\6\ which provides that MSRB rules
shall ``provide for the operation and administration of the Board,
including the selection of a Chairman from among the members of the
Board, the compensation of the members of the Board, and the
appointment and compensation of such employees, attorneys, and
consultants as may be necessary or appropriate to carry out the Board's
functions under this section.'' \7\ The MSRB believes that the proposed
rule change is consistent with these provisions in that it relates to
the operation and administration of the Board and the compensation of
members of the Board.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78o-4(b)(2)(I).
\7\ Id.
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The MSRB does not believe that the proposed rule change will result
in any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act since it would apply solely to
internal operational and administrative matters.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants or Others
Written comments were neither solicited nor received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The proposed rule change has become effective pursuant to section
19(b)(3)(A) of the Act \8\ and Rule 19b-4(f)(3) thereunder \9\ because
it is concerned solely with the administration of the MSRB. At any time
within 60 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.\10\
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 240.19b-4(f)(3).
\10\ See section 19(b)(3)(C) of the Act, 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 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-MSRB-2005-17 on the subject line.
Paper Comments
Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, Station Place, 100 F
Street, NE., Washington, DC 20549-9303.
All submissions should refer to File Number SR-MSRB-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
[[Page 1782]]
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 Room. Copies of such filing also will be
available for inspection and copying at the principal office of the
MSRB. 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-
MSRB-2005-17 and should be submitted on or before February 1, 2006.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\11\
---------------------------------------------------------------------------
\11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Nancy M. Morris,
Secretary.
[FR Doc. E6-135 Filed 1-10-06; 8:45 am]
BILLING CODE 8010-01-P
