Submission for OMB Review; Comment Request, 5387-5388 [E6-1323]
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Federal Register / Vol. 71, No. 21 / Wednesday, February 1, 2006 / Notices
The board is also required to determine,
at least on a quarterly basis, that all
affiliated transactions effected during
the preceding quarter in reliance on the
rule were made in compliance with
these established procedures. If a fund
enters into a purchase or sale
transaction with an affiliated person, the
rule requires the fund to compile and
maintain written records of the
transaction.1 The Commission’s
examination staff uses these records to
evaluate for compliance with the rule.
The Commission estimates that
approximately 968 funds enter into
transactions effected in reliance on rule
17a–7 each year and, therefore, are
subject to the rule’s information
collection requirements.2 The average
annual burden for rule 17a–7 is
estimated to be approximately two
burden hours per respondent, for an
annual total of 1935 burden hours for all
respondents.3 The estimates of burden
hours are made solely for the purposes
of the Paperwork Reduction Act, and are
not derived from a comprehensive or
even a representative survey or study of
the costs of Commission rules.
Rule 17a–7 requires investment
companies to maintain and preserve
permanently a written copy of the
procedures governing rule 17a–7
transactions. In addition, investment
companies are required to maintain
written records of each rule 17a–7
transaction for a period of not less than
six years from the end of the fiscal year
in which the transaction occurred. The
collection of information required by
rule 17a–7 is necessary to obtain the
benefits of the rule. Responses will not
be kept confidential. 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.
cchase on PROD1PC60 with NOTICES
1 The
written records are required to set forth a
description of the security purchased or sold, the
identity of the person on the other side of the
transaction, and the information or materials upon
which the board of directors’ determination that the
transaction was in compliance with the procedures
was made.
2 These estimates are based on conversations with
the examination and inspections staff of the
Commission and fund representatives. Based on
these conversations, the Commission staff estimates
that most investment companies (3870 of the
estimated 4300 registered investment companies)
have adopted procedures for compliance with rule
17a–7. Of these 3870 investment companies, the
Commission staff estimates that each year
approximately 25% (968) enter into transactions
affected by rule 17a–7.
3 This estimate is based in turn on the staff’s
estimate that the approximately 968 funds that rely
on rule 17a–7 annually engage in an average of 8
rule 17a–7 transactions and spend approximately
15 minutes per transaction on recordkeeping
required by the rule.
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17:49 Jan 31, 2006
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General 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 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, 100 F Street, NE.,
Washington, DC 20549. Comments must
be submitted to OMB within 30 days of
this notice.
Dated: January 24, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. E6–1317 Filed 1–31–06; 8:45 am]
BILLING CODE 8010–01–P
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 17Ac2–1; SEC File No. 270–
95; OMB Control No. 3235–0084.
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 publishing the
following summary of collection for
public comment. The Commission plans
to submit this existing collection of
information to the Office of
Management and Budget for extension
and approval.
Rule 17Ac2–1 under the Securities
Exchange Act of 1934 (the ‘‘Act’’) is
used by transfer agents to register with
the Commission, the Comptroller of the
Currency, the Board of Governors of the
Federal Reserve System, or the Federal
Deposit Insurance Corporation, and to
amend their registration.
It is estimated that on an annual basis,
the Commission will receive
approximately 100 applications for
registration on Form TA–1 from transfer
agents required to register as such with
the Commission. Included in this figure
are amendments made to Form TA–1 as
required by Rule 17Ac2–1(c). Based
upon past submissions, the staff
estimates that the average number of
hours necessary to comply with the
requirements of Rule 17Ac2–1 is one
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5387
and one-half hours, with a total burden
of 150 hours.
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 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, 100 F Street, NE.,
Washington, DC 20549.
Dated: January 25, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. E6–1320 Filed 1–31–06; 8:45 am]
BILLING CODE 8010–01–P
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 498; File No. 270-435; OMB
Control No. 3235-0488.
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(‘‘Act’’) [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.
Rule 498 Under the Securities Act of
1933, Profiles for Certain Open-end
Management Investment Companies
Rule 498 of the Securities Act of 1933
[17 CFR 230.498] permits open-end
management investment companies (or
a series of an investment company
organized as a series company, which
offers one or more series of shares
representing interests in separate
investment portfolios) (‘‘funds’’) to
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01FEN1
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5388
Federal Register / Vol. 71, No. 21 / Wednesday, February 1, 2006 / Notices
provide investors with a ‘‘profile’’ that
contains a summary of key information
about a fund, including the fund’s
investment objectives, strategies, risks
and performance, and fees, in a
standardized format. The profile
provides investors the option of buying
fund shares based on the information in
the profile or reviewing the fund’s
prospectus before making an investment
decision. Investors purchasing shares
based on a profile receive the fund’s
prospectus prior to or with confirmation
of their investment in the fund.
Consistent with the filing requirement
of a fund’s prospectus, a profile must be
filed with the Commission thirty days
before first use. Such a filing allows the
Commission to review the profile for
compliance with Rule 498. Compliance
with the rule’s standardized format
assists investors in evaluating and
comparing funds.
It is estimated that approximately 1
initial profile and 252 updated profiles
are filed with the Commission annually.
The Commission estimates that each
profile contains on average 1.25
portfolios, resulting in 1.25 portfolios
filed annually on initial profiles and 315
portfolios filed annually on updated
profiles. The number of burden hours
for preparing and filing an initial profile
per portfolio is 25. The number of
burden hours for preparing and filing an
updated profile per portfolio is 10. The
total burden hours for preparing and
filing initial and updated profiles under
Rule 498 is 3,181, representing a
decrease of 1,269 hours from the prior
estimate of 4,450. The reduction in
burden hours is attributable to the lower
number of profiles actually prepared
and filed as compared to the previous
estimates.
The estimates of average burden hours
are made solely for the purposes of the
Act and are not derived from a
comprehensive or even representative
survey or study of the cost of
Commission rules and forms.
The collection of information under
Rule 498 is voluntary. The information
provided by Rule 498 is not kept
confidential. 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.
General 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 e-mail to:
David_Rostker@omb.eop.gov; and (ii) R.
VerDate Aug<31>2005
17:49 Jan 31, 2006
Jkt 208001
Corey Booth, Director/Chief Information
Officer, Office of Information
Technology, Securities and Exchange
Commission, 100 F Street, NE.,
Washington, DC 20549. Comments must
be submitted to OMB within 30 days of
this notice.
Dated: January 24, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. E6–1323 Filed 1–31–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
27215; 812–13008]
Vice President and Chief Financial
Officer, 40 W. Highland Park Dr. NE.,
Hutchinson, Minnesota 55350.
FOR FURTHER INFORMATION CONTACT:
Marilyn Mann, Senior Counsel, at (202)
551–6813, or Nadya B. Roytblat,
Assistant Director, at (202) 551–6821
(Division of Investment Management,
Office of Investment Company
Regulation).
SUPPLEMENTARY INFORMATION: The
following is a summary of the
application. The complete application
may be obtained for a fee at the
Commission’s Public Reference Desk,
100 F Street, NE., Washington, DC
20549–0102 (tel. 202–551–5850).
Applicant’s Representations
1. HTI, a Minnesota corporation, is in
Hutchinson Technology Incorporated;
the business of developing,
Notice of Application
manufacturing, marketing and servicing
suspension assemblies for hard disk
January 25, 2006.
drives. HTI estimates that it produces a
AGENCY: Securities and Exchange
majority of all suspension assemblies
Commission (‘‘Commission’’).
sold to disk drive manufacturers and
ACTION: Notice of application under
their suppliers, including recording
section 3(b)(2) of the Investment
head manufacturers, worldwide. HTI
Company Act of 1940 (the ‘‘Act’’).
represents that suspension assemblies
Summary of Application: Hutchinson are critical components of disk drives
Technology Incorporated (‘‘HTI’’) seeks
that hold the recording heads in
an order under section 3(b)(2) of the Act position above the spinning magnetic
declaring it to be primarily engaged in
disks. In addition to HTI’s suspension
a business other than that of investing,
assembly products, HTI has developed a
reinvesting, owning, holding or trading
medical device that uses an optical
in securities. HTI, directly and through
technology to measure local oxygen
its wholly-owned subsidiaries,
saturation of hemoglobin in tissue.
develops, manufactures, markets and
2. HTI states that it requires
services suspension assemblies for hard substantial liquid capital to fund its
disk drives.
global operations, including research
Filing Dates: The application was
and development activities and capital
filed on August 18, 2003, and amended
expenditures. HTI states that the disk
on October 23, 2003 and January 23,
drive industry is subject to rapid
2006.
technological change, and HTI’s ability
Hearing or Notification of Hearing: An to remain competitive depends on,
order granting the requested relief will
among other things, its ability to
be issued unless the Commission orders anticipate and respond to these changes.
a hearing. Interested persons may
As a result, HTI has devoted and will
request a hearing by writing to the
continue to devote substantial resources
Commission’s Secretary and serving
to product development and process
applicants with a copy of the request,
engineering efforts. HTI also requires
personally or by mail. Hearing requests
substantial liquid capital for capital
should be received by the Commission
expenditures. HTI expects that it will
by 5:30 p.m. on February 21, 2006, and
need to make substantial capital
should be accompanied by proof of
expenditures over the next several years
service on applicants, in the form of an
to remain at the forefront of industry
affidavit or, for lawyers, a certificate of
technology transitions. In particular,
service. Hearing requests should state
technology transitions in the disk drive
the nature of the writer’s interest, the
industry require HTI to dramatically
reason for the request, and the issues
increase its level of capital
contested. Persons who wish to be
expenditures. HTI also states that
notified of a hearing may request
demand for disk drives is subject to
notification by writing to the
rapid or unforeseen changes resulting
Commission’s Secretary.
from, among other things, changes in
disk drive inventory levels,
ADDRESSES: Secretary, U.S. Securities
technological advances, responses to
and Exchange Commission, 100 F
competitive price changes and
Street, NE., Washington, DC 20549–
unpredicted high or low market
9303. Applicant, c/o John A. Ingleman,
PO 00000
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]]>Agencies
[Federal Register Volume 71, Number 21 (Wednesday, February 1, 2006)]
[Notices]
[Pages 5387-5388]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-1323]
-----------------------------------------------------------------------
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 498; File No. 270-435; OMB Control No. 3235-0488.
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (``Act'') [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.
Rule 498 Under the Securities Act of 1933, Profiles for Certain Open-
end Management Investment Companies
Rule 498 of the Securities Act of 1933 [17 CFR 230.498] permits
open-end management investment companies (or a series of an investment
company organized as a series company, which offers one or more series
of shares representing interests in separate investment portfolios)
(``funds'') to
[[Page 5388]]
provide investors with a ``profile'' that contains a summary of key
information about a fund, including the fund's investment objectives,
strategies, risks and performance, and fees, in a standardized format.
The profile provides investors the option of buying fund shares based
on the information in the profile or reviewing the fund's prospectus
before making an investment decision. Investors purchasing shares based
on a profile receive the fund's prospectus prior to or with
confirmation of their investment in the fund.
Consistent with the filing requirement of a fund's prospectus, a
profile must be filed with the Commission thirty days before first use.
Such a filing allows the Commission to review the profile for
compliance with Rule 498. Compliance with the rule's standardized
format assists investors in evaluating and comparing funds.
It is estimated that approximately 1 initial profile and 252
updated profiles are filed with the Commission annually. The Commission
estimates that each profile contains on average 1.25 portfolios,
resulting in 1.25 portfolios filed annually on initial profiles and 315
portfolios filed annually on updated profiles. The number of burden
hours for preparing and filing an initial profile per portfolio is 25.
The number of burden hours for preparing and filing an updated profile
per portfolio is 10. The total burden hours for preparing and filing
initial and updated profiles under Rule 498 is 3,181, representing a
decrease of 1,269 hours from the prior estimate of 4,450. The reduction
in burden hours is attributable to the lower number of profiles
actually prepared and filed as compared to the previous estimates.
The estimates of average burden hours are made solely for the
purposes of the Act and are not derived from a comprehensive or even
representative survey or study of the cost of Commission rules and
forms.
The collection of information under Rule 498 is voluntary. The
information provided by Rule 498 is not kept confidential. 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.
General 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 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, 100 F Street, NE., Washington, DC 20549. Comments
must be submitted to OMB within 30 days of this notice.
Dated: January 24, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. E6-1323 Filed 1-31-06; 8:45 am]
BILLING CODE 8010-01-P
