Sunshine Act Meetings Notice, 6799-6800 [06-1234]

Download as PDF Federal Register / Vol. 71, No. 27 / Thursday, February 9, 2006 / Notices Registered management investment companies are required to send reports to stockholders at least twice annually. In addition, under the recently adopted amendments to rule 30b2–1, each registered investment company is required to file with the Commission new form N–CSR, certifying the financial statements.3 The annual burden of filing the reports is included in the burden estimate for Form N–CSR; however, we are requesting one burden hour remain in inventory for administrative purposes. The burden estimate for rule 30b2–1 is made solely for the purposes of the Act and is not derived from a comprehensive or even representative survey or study of the costs of Commission rules and forms. 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 will have practical utility; (b) the accuracy of the agency’s estimate of the burden 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: January 26, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–1785 Filed 2–8–06; 8:45 am] cprice-sewell on PROD1PC66 with NOTICES BILLING CODE 8010–01–P 3 See Release No. 34–47262, IC–25914, Jan. 27, 2003 (68 FR 5384 [Feb. 3, 2003]). (Amending rule 30b2–1(a) under the Investment Company Act; adopting Form N–CSR). In addition, the Commission amended new rule 30a–2 to require both Forms N–CSR and N–SAR to include the certification required by section 302 of the Sarbanes-Oxley Act. No certified shareholder report on Form N–CSR is required with respect to a report to shareholders that is not required under rule 30e– 1 under the Investment Company Act [17 CFR 270.30e–1], e.g., voluntary quarterly reports. These reports to shareholders continue to be filed with the Commission as they were prior to the 2003 amendments. Rule 30b2–1(b) [17 CFR 270.30b2– 1(b)]. VerDate Aug<31>2005 13:56 Feb 08, 2006 Jkt 208001 SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copy Available From: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Extension: Rule 34b–1; File No. 270–305; OMB Control No. 3235–0346. 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’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. • Rule 34b–1 (17 CFR 270.34b–1) under the Investment Company Act of 1940, Sales Literature Deemed to be Misleading. Rule 34b–1 under the Investment Company Act governs sales material that accompanies or follows the delivery of a statutory prospectus (‘‘sales literature’’). Rule 34b–1 deems to be materially misleading any investment company sales literature, required to be filed with the Commission by section 24(b) of the Investment Company Act [15 U.S.C. 80a–24(b)],1 that includes performance data unless it also includes the appropriate uniformly computed data and the legend disclosure required in advertisements by rule 482 under the Securities Act of 1933 [17 CFR 230.482]. Requiring the inclusion of such standardized performance data in sales literature is designed to prevent misleading performance claims by funds and to enable investors to make meaningful comparisons among fund performance claims. The Commission estimates that 4,500 respondents file approximately 37,000 responses with the Commission, which include the information required by rule 34b–1. The burden from rule 34b–1 requires slightly more than 2.4 hours per response resulting from creating the information required under rule 34b–1.2 1 Sales literature addressed to or intended for distribution to prospective investors shall be deemed filed with the Commission for purposes of section 24(b) of the Investment Company Act upon filing with a national securities association registered under section 15A of the Securities Exchange Act of 1934 that has adopted rules providing standards for the investment company advertising practices of its members and has established and implemented procedures to review that advertising. See Rule 24b–3 under the Investment Company Act [17 CFR 270.24b–3]. 2 The estimated burden per response is 2.9 hours for 686 responses and 2.4 hours for the remaining, PO 00000 Frm 00053 Fmt 4703 Sfmt 4703 6799 The total burden hours for rule 34b–1 are 89,143 per year in the aggregate (37,000 responses × 2.4092702 hours per response). Estimates of average 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 and forms. The collection of information under rule 34b–1 is mandatory. The information provided under rule 34b–1 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 30, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–1786 Filed 2–8–06; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meetings Notice Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission will hold the following meeting during the week of February 13, 2006: An Open Meeting will be held on Monday, February 13, 2006 at 10 a.m. in the Auditorium, Room L–002, and a Closed Meeting will be held on Wednesday, February 15, 2006 at 10 a.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. giving a more exact weighted average burden per response of approximately 2.4092702. E:\FR\FM\09FEN1.SGM 09FEN1 6800 Federal Register / Vol. 71, No. 27 / Thursday, February 9, 2006 / Notices 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), (9)(B), and (10) and 17 CFR 200.402(a), (3), (4), (5), (7), 9(ii) and (10) permit consideration of the scheduled matters at the Closed Meeting. Commissioner Glassman, as duty officer, voted to consider the items listed for the closed meeting in closed session. The subject matter of the Open Meeting scheduled for Monday, February 13, 2006 will be: The Commission will hear oral argument on an appeal by Eagletech Communications, Inc. (‘‘Eagletech’’) from the decision of an administrative law judge. The Division of Enforcement will argue in support of the law judge’s decision. The law judge found that Eagletech had failed to file with the Commission Eagletech’s mandatory quarterly reports for any period after December 31, 2001 and its mandatory annual reports for any period after March 31, 2001. The law judge found that, by failing to file its reports, Eagletech willfully violated Section 13(a) of the Securities Exchange Act of 1934 and Rules 13a–1 and 13a–13 thereunder. The law judge revoked the registration of Eagletech’s securities. Among the issues likely to be argued is whether Eagletech violated the Exchange Act and rules thereunder as found by the law judge. The subject matter of the Closed Meeting scheduled for Wednesday, February 15, 2006 will be: cprice-sewell on PROD1PC66 with NOTICES Formal orders of investigations; Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings of an enforcement nature; Regulatory matters regarding financial institutions; and Report on an investigation. 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. Dated: February 6, 2006. Nancy M. Morris, Secretary. [FR Doc. 06–1234 Filed 2–7–06; 10:59 am] BILLING CODE 8010–01–P VerDate Aug<31>2005 13:56 Feb 08, 2006 Jkt 208001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–53219; File No. SR–DTC– 2005–21] Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing of Proposed Rule Change To Implement and Revise Fees Related to Non-Participant Services February 3, 2006. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 notice is hereby given that on December 20, 2005, The Depository Trust Company (‘‘DTC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) and on December 20, 2005, January 23, 2006, and January 25, 2006,2 amended the proposed rule change as described in Items I, II, and III below, which items have been prepared by DTC. The Commission is publishing this notice to solicit comments on the proposed rule change as amended from interested parties. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change DTC is seeking to (1) Revise fees for special requests for Security Position Reports (‘‘SPRs’’) and for weekly, monthly, and quarterly dividend record date SPR subscriptions,3 (2) revise existing fees for audit confirmations provided to issuers and their agents, and (3) implement new fees for (a) audit confirmations for certificates of deposit (‘‘CDs’’) provided to issuers and their agents and (b) access by transfer agents to DTC’s imaging database. 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.4 1 15 U.S.C. 78s(b)(l). proposed rule change filing was amended twice on January 25, 2006. 3 Weekly reports, monthly reports, and quarterly dividend record date reports are available by annual subscription only. 4 The Commission has modified the text of the summaries prepared by DTC. 2 The PO 00000 Frm 00054 Fmt 4703 Sfmt 4703 (A) Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change Fees for Issuance of Security Position Reports Several types of SPRs are available through DTC. These include: (1) Weekly reports showing daily closing positions during that week; (2) monthly reports showing closing positions on the last business day of the month; (3) quarterly dividend record date reports showing closing positions on the dividend record date; and (4) special requests showing closing positions for the date specified. DTC charges a fee for SPRs. Currently, the fee charged to issuers or trustees for weekly, monthly, and quarterly dividend record date SPR subscriptions is $1,950, $450, $150, respectively. The fee charged to issuers or trustees for special requests is $85. Under this filing, DTC formally seeks Commission approval of these fees. DTC incurs significantly higher costs for the production of special request SPRs relative to the costs of producing reports by subscription and because DTC has determined that a fee increase is necessary to more fully recover costs associated with such production, DTC proposes to increase the fee charged to issuers or trustees for special request SPRs to $120. The proposed increase will become effective on a date in the first quarter of 2006 to be announced by DTC upon the Commission’s approval of this proposed rule change. The fees for weekly, monthly, and quarterly dividend record date SPR subscriptions will remain unchanged. Fees Charged to Issuers/Agents 1. Audit Confirmations DTC receives frequent requests from issuers and/or their agents for confirmations of audit information relating to securities held by DTC. In connection with the processing of such requests for audit confirmations, DTC currently charges a fee of $10.00 per request containing up to and including five CUSIPs and $2.13 for each CUSIP beyond the fifth CUSIP. DTC also receives requests from issuers and/or their agents for confirmations relating to information concerning CDs deposited at DTC. A fee is not currently charged to process these CD audit confirmation requests. Providing issuers and/or their agents with audit confirmation information requires the allocation of significant resources to process the requests resulting in considerable cost to DTC. To more fully recover the costs associated with such audit confirmation E:\FR\FM\09FEN1.SGM 09FEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 71, Number 27 (Thursday, February 9, 2006)]
[Notices]
[Pages 6799-6800]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-1234]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meetings Notice

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Public Law 94-409, that the Securities 
and Exchange Commission will hold the following meeting during the week 
of February 13, 2006:

    An Open Meeting will be held on Monday, February 13, 2006 at 10 
a.m. in the Auditorium, Room L-002, and a Closed Meeting will be 
held on Wednesday, February 15, 2006 at 10 a.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.

[[Page 6800]]

    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), (9)(B), and (10) and 17 CFR 
200.402(a), (3), (4), (5), (7), 9(ii) and (10) permit consideration of 
the scheduled matters at the Closed Meeting.
    Commissioner Glassman, as duty officer, voted to consider the items 
listed for the closed meeting in closed session.
    The subject matter of the Open Meeting scheduled for Monday, 
February 13, 2006 will be:

    The Commission will hear oral argument on an appeal by Eagletech 
Communications, Inc. (``Eagletech'') from the decision of an 
administrative law judge. The Division of Enforcement will argue in 
support of the law judge's decision. The law judge found that 
Eagletech had failed to file with the Commission Eagletech's 
mandatory quarterly reports for any period after December 31, 2001 
and its mandatory annual reports for any period after March 31, 
2001. The law judge found that, by failing to file its reports, 
Eagletech willfully violated Section 13(a) of the Securities 
Exchange Act of 1934 and Rules 13a-1 and 13a-13 thereunder. The law 
judge revoked the registration of Eagletech's securities.
    Among the issues likely to be argued is whether Eagletech 
violated the Exchange Act and rules thereunder as found by the law 
judge.

    The subject matter of the Closed Meeting scheduled for Wednesday, 
February 15, 2006 will be:

Formal orders of investigations;
Institution and settlement of injunctive actions;
Institution and settlement of administrative proceedings of an 
enforcement nature;
Regulatory matters regarding financial institutions; and
Report on an investigation.

    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.

    Dated: February 6, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. 06-1234 Filed 2-7-06; 10:59 am]
BILLING CODE 8010-01-P

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