Submission for OMB Review; Comment Request, 9386 [06-1668]

Download as PDF 9386 Federal Register / Vol. 71, No. 36 / Thursday, February 23, 2006 / Notices Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or by sending an 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, Station Place, 100 F Street, NE., Washington, DC 20549. Comments must be submitted to Office of Management and Budget within 30 days of this notice. Dated: February 15, 2006. J. Lynn Taylor, Assistant Secretary. [FR Doc. 06–1667 Filed 2–22–06; 8:45 am] BILLING CODE 8010–01–M 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. rwilkins on PROD1PC63 with NOTICES Extension: Regulation FD; OMB Control No. 3235– 0536; SEC File No. 270–475. 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 a request for extension of the previously approved collection of information discussed below. Regulation FD—Other Disclosure Materials requires public disclosure of material information from issuers of publicly traded securities so that investors have current information upon which to base investment decisions. The purpose of the regulation is to require that; (1) When an issuer intentionally discloses material information, it does so through public disclosure, not selective disclosure; and (2) whenever an issuer learns that it has made a nonintentional material selective disclosure, the issuer makes prompt public disclosure of that information. Regulation FD was adopted due to a concern that the practice of selective disclosure leads to a loss of investor confidence in the integrity of our capital markets. All information is provided to the public for review. The information required is filed on occasion and is mandatory. We estimate that approximately 13,000 issuers make VerDate Aug<31>2005 16:15 Feb 22, 2006 Jkt 205001 Regulation FD disclosures approximately five times a year for a total of 58,000 issuers make Regulation FD disclosures approximately five times a year for a total of 58,000 submissions annually, not including an estimated 7,000 issuers who file Form 8–K to comply with Regulation FD. We estimate that it takes approximately 5 hours per response (58,000 × 5 hours) for a total burden of 290,000 hours annually. The filer prepares 25% of the 290,000 annual burden hours for a total of 72,500 burden hours. 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 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 send an email 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: February 16, 2006. J. Lynn Taylor, Assistant Secretary. [FR Doc. 06–1668 Filed 2–22–06; 8:45 am] BILLING CODE 8010–01–M 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 12a–5; SEC File No. 270–85; OMB Control No. 3235–0079. 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 requests for extension of the previously approved collection of information discussed below. PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 Rule 12a–5—Temporary Exemption of Substituted or Additional Securities Section 12(a) of the Securities Exchange Act of 1934 (the ‘‘Act’’) generally makes it unlawful for any security to be traded on a national securities exchange unless such security is registered on the exchange in accordance with the provisions of the Act and the rules and regulations thereunder. Rule 12a–5 (the ‘‘Rule’’) under the Act and Form 26 (the ‘‘Form’’) were adopted by the Commission in 1936 and 1955, respectively, pursuant to Sections 3(a)(12), 10(b), and 23(a) of the Act. Subject to certain conditions, Rule 12a– 5 affords a temporary exemption (generally for up to 120 days) from the registration requirements of Section 12(a) of the Act for a new security when the holders of a security admitted to trading on a national securities exchange obtain the right (by operation of law or otherwise) to acquire all or any part of a class of another or substitute security of the same or another issuer, or an additional amount of the original security. The purpose of the exemption is to avoid an interruption of exchange trading to afford time for the issuer of the new security to list and register it, or for the exchange to apply for unlisted trading privileges. Under paragraph (d) of Rule 12a–5, after an exchange has taken action to admit any security to trading pursuant to the provisions of the Rule, the exchange is required to file with the Commission a notification on Form 26. Form 26 provides the Commission with certain information regarding a security admitted to trading on an exchange pursuant to Rule 12a–5, including: (1) The name of the exchange, (2) the name of the issuer, (3) a description of the security, (4) the date(s) on which the security was or will be admitted to when-issued and/or regular trading, and (5) a brief description of the transaction pursuant to which the security was or will be issued. The Commission generally oversees the national securities exchanges. This mission requires that, under Section 12(a) of the Act specifically, the Commission receive notification of any securities that are permitted to trade on an exchange pursuant to the temporary exemption under Rule 12a–5. Without the Rule and the Form, the Commission would be unable fully to implement these statutory responsibilities. There are currently eight national securities exchanges subject to Rule 12a–5. While the Commission staff estimates that there could be as many as 40 Forms 26 filed annually, the E:\FR\FM\23FEN1.SGM 23FEN1

Agencies

[Federal Register Volume 71, Number 36 (Thursday, February 23, 2006)]
[Notices]
[Page 9386]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-1668]


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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:
    Regulation FD; OMB Control No. 3235-0536; SEC File No. 270-475.

    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 a 
request for extension of the previously approved collection of 
information discussed below.
    Regulation FD--Other Disclosure Materials requires public 
disclosure of material information from issuers of publicly traded 
securities so that investors have current information upon which to 
base investment decisions. The purpose of the regulation is to require 
that; (1) When an issuer intentionally discloses material information, 
it does so through public disclosure, not selective disclosure; and (2) 
whenever an issuer learns that it has made a non-intentional material 
selective disclosure, the issuer makes prompt public disclosure of that 
information. Regulation FD was adopted due to a concern that the 
practice of selective disclosure leads to a loss of investor confidence 
in the integrity of our capital markets. All information is provided to 
the public for review. The information required is filed on occasion 
and is mandatory. We estimate that approximately 13,000 issuers make 
Regulation FD disclosures approximately five times a year for a total 
of 58,000 issuers make Regulation FD disclosures approximately five 
times a year for a total of 58,000 submissions annually, not including 
an estimated 7,000 issuers who file Form 8-K to comply with Regulation 
FD. We estimate that it takes approximately 5 hours per response 
(58,000 x 5 hours) for a total burden of 290,000 hours annually. The 
filer prepares 25% of the 290,000 annual burden hours for a total of 
72,500 burden hours.
    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 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 send an 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: February 16, 2006.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. 06-1668 Filed 2-22-06; 8:45 am]
BILLING CODE 8010-01-M