Advisory Committee on Smaller Public Companies, 6297-6298 [E6-1619]

Download as PDF Federal Register / Vol. 71, No. 25 / Tuesday, February 7, 2006 / Notices 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 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: January 31, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–1621 Filed 2–6–06; 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. erjones on PROD1PC68 with NOTICES Extension: Rule 19a–1; SEC File No. 270–240; OMB Control No. 3235–0216 Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501–3520), the Securities and Exchange Commission (the ‘‘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 and approval. Section 19(a) [15 U.S.C. 80a–19(a)] of the Investment Company Act of 1940 (the ‘‘Act’’) makes it unlawful for any registered investment company to pay any dividend or similar distribution from any source other than the company’s net income, unless the payment is accompanied by a written statement to the company’s shareholders which adequately discloses the sources of the payment. Section 19(a) authorizes the Commission to prescribe the form of such statement by rule. Rule 19a–1 [17 CFR 270.19a–1] under the Act, entitled ‘‘Written Statement to Accompany Dividend Payments by Management Companies,’’ sets forth specific requirements for the information that must be included in statements made pursuant to section VerDate Aug<31>2005 15:23 Feb 06, 2006 Jkt 208001 19(a) by or on behalf of management companies.1 The rule requires that the statement indicate what portions of distribution payments are made from net income, net profits and paid-in capital. When any part of the payment is made from net profits, rule 19a–1 also requires that the statement disclose certain other information relating to the appreciation or depreciation of portfolio securities. If an estimated portion is subsequently determined to be significantly inaccurate, a correction must be made on a statement made pursuant to section 19(a) or in the first report to shareholders following the discovery of the inaccuracy. The purpose of rule 19a–1 is to afford fund shareholders adequate disclosure of the sources from which distribution payments are made. The rule is intended to prevent shareholders from confusing income dividends with distributions made from capital sources. Absent rule 19a–1, shareholders might receive a false impression of fund gains. Based on a review of filings made with the Commission, the staff estimates that approximately 3,000 portfolios of registered investment companies that are management companies may be subject to rule 19a–1 each year, and that each portfolio on average mails two statements per year to meet the requirements of the rule.2 The staff further estimates that the time needed to make the determinations required by the rule and to prepare the statement required under the rule is approximately 1.5 hours per statement. The total annual burden for all portfolios therefore is estimated to be approximately 9,000 burden hours. The staff estimates that approximately one-third of the total annual burden (3,000 hours) would be incurred by a senior administrative officer with an average hourly wage rate of approximately $158 per hour, and approximately two-thirds of the annual burden (6,000 hours) would be incurred by senior clerical staff with an average hourly wage rate of $25 per hour.3 The staff therefore estimates that the aggregate annual cost of complying with 1 Section 4(3) of the Act [15 U.S.C. 80a–4(3)] defines ‘‘management company’’ as ‘‘any investment company other than a face amount certificate company or a unit investment trust.’’ 2 A few portfolios make monthly distributions from sources other than net income, so the rule requires them to send out a statement 12 times a year. Other portfolios never make such distributions. 3 All hourly rates in this Supporting Statement are derived from the average annual salaries reported for employees outside of New York City in Securities Industry Association, Management and Professional Earnings in the Securities Industry (2003) and Securities Industry Association, Office Salaries in the Securities Industry (2003). PO 00000 Frm 00049 Fmt 4703 Sfmt 4703 6297 the paperwork requirements of the rule is approximately $624,000 ((3,000 hours × $158) + (6,000 hours × $25)). 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 of the costs of Commission rules. Compliance with the collection of information required by rule 19a–1 is mandatory for management companies that make statements to shareholders pursuant to section 19(a) of the Act. 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. Written comments are invited on: (a) Whether the collections of information are 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 burdens of the collections of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burdens of the collections 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: January 31, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–1622 Filed 2–6–06; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release Nos. 33–8659; 34–53204, File No. 265–23] Advisory Committee on Smaller Public Companies Securities and Exchange Commission. ACTION: Notice of Meeting of SEC Advisory Committee on Smaller Public Companies. AGENCY: The Securities and Exchange Commission Advisory Committee on Smaller Public Companies is providing E:\FR\FM\07FEN1.SGM 07FEN1 6298 Federal Register / Vol. 71, No. 25 / Tuesday, February 7, 2006 / Notices notice that it will hold a public meeting on Tuesday, February 21, 2006, in Multi-Purpose Room L006 of the Commission’s headquarters, 100 F Street, NE., Washington, DC 20549, beginning at 9 a.m. The meeting is expected to last until approximately 4 p.m., with a lunch break from approximately noon to 1 p.m. The meeting will be audio webcast on the Commission’s Web site at https:// www.sec.gov. The agenda for the meeting includes a discussion of a proposal to publish a draft of the Advisory Committee’s Final Report for public comment. The Advisory Committee may also discuss written statements received and other matters of concern. The public is invited to submit written statements for the meeting. DATES: Written statements should be received on or before February 15, 2006. ADDRESSES: Written statements may be submitted by any of the following methods: erjones on PROD1PC68 with NOTICES 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 Nancy M. Morris, Committee Management Officer, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. 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. FOR FURTHER INFORMATION CONTACT: 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. VerDate Aug<31>2005 15:23 Feb 06, 2006 Jkt 208001 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. SUPPLEMENTARY INFORMATION: Dated: February 1, 2006. Nancy M. Morris, Committee Management Officer. [FR Doc. E6–1619 Filed 2–6–06; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Pub. L. 94–409, that the Securities and Exchange Commission will hold the following meeting during the week of February 6, 2006: A closed meeting will be held on Thursday, February 9, 2006 at 2 p.m. Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the closed meeting. Certain staff members who have an interest in the matters may also be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c), (3), (4), (5), (7), (8), (9)(B), and (10) and 17 CFR 200.402(a), (3), (4), (5), (7), (8), 9(ii) and (10) permit consideration of the scheduled matters at the closed meeting. Commissioner Nazareth, as duty officer, voted to consider the items listed for the closed meeting in closed session. The subject matter of the Closed Meeting scheduled for Thursday, February 9, 2006 will be: Formal orders of investigations; Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings of an enforcement nature; and Regulatory matters regarding financial institutions. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551–5400. PO 00000 Frm 00050 Fmt 4703 Sfmt 4703 Dated: February 2, 2006. Nancy M. Morris, Secretary. [FR Doc. 06–1164 Filed 2–3–06; 12:54 pm] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–53194; File No. SR–CHX– 2006–01] Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Regarding Bidding and Offering in Sub-penny Increments January 30, 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 January 17, 2006, the Chicago Stock Exchange, Inc. (‘‘CHX’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by the CHX. The CHX has filed this proposal pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b–4(f)(6) 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. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend its rules to confirm that, beginning with the compliance date for Rule 612 of Regulation NMS,5 Exchange participants (a) may bid or offer in subpenny increments in the trading of Nasdaq/NM securities where those bids or offers are less than $1.00, and (b) may bid or offer in sub-penny increments in the trading of other securities where an exemption from the provisions of Rule 612 is granted by the Commission and where the Exchange’s Board of Directors agrees to allow that sub-penny quoting. The text of this proposed rule change is available on the Exchange’s Web site (https://www.chx.com/rules/ proposed_rules.htm), at the principal 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b–4(f)(6). 5 17 CFR 242.612. 2 17 E:\FR\FM\07FEN1.SGM 07FEN1

Agencies

[Federal Register Volume 71, Number 25 (Tuesday, February 7, 2006)]
[Notices]
[Pages 6297-6298]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-1619]


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SECURITIES AND EXCHANGE COMMISSION

[Release Nos. 33-8659; 34-53204, File No. 265-23]


Advisory Committee on Smaller Public Companies

AGENCY: Securities and Exchange Commission.

ACTION: Notice of Meeting of SEC Advisory Committee on Smaller Public 
Companies.

-----------------------------------------------------------------------

    The Securities and Exchange Commission Advisory Committee on 
Smaller Public Companies is providing

[[Page 6298]]

notice that it will hold a public meeting on Tuesday, February 21, 
2006, in Multi-Purpose Room L006 of the Commission's headquarters, 100 
F Street, NE., Washington, DC 20549, beginning at 9 a.m. The meeting is 
expected to last until approximately 4 p.m., with a lunch break from 
approximately noon to 1 p.m. The meeting will be audio webcast on the 
Commission's Web site at https://www.sec.gov.
    The agenda for the meeting includes a discussion of a proposal to 
publish a draft of the Advisory Committee's Final Report for public 
comment. The Advisory Committee may also discuss written statements 
received and other matters of concern. The public is invited to submit 
written statements for the meeting.

DATES: Written statements should be received on or before February 15, 
2006.

ADDRESSES: Written statements may be submitted by any of the following 
methods:

Electronic Statements

     Use the Commission's Internet submission form (https://
www.sec.gov/info/smallbus/acspc.shtml); or
     Send an e-mail message to rule-comments@sec.gov. Please 
include File Number 265-23 on the subject line; or

Paper Statements

     Send paper statements in triplicate to Nancy M. Morris, 
Committee Management Officer, Securities and Exchange Commission, 100 F 
Street, NE., Washington, DC 20549-1090.

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.

FOR FURTHER INFORMATION CONTACT: 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.

SUPPLEMENTARY INFORMATION: 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.

     Dated: February 1, 2006.
Nancy M. Morris,
Committee Management Officer.
[FR Doc. E6-1619 Filed 2-6-06; 8:45 am]
BILLING CODE 8010-01-P
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