Submission for OMB Review; Comment Requested, 19762 [E6-5684]

Download as PDF 19762 Federal Register / Vol. 71, No. 73 / Monday, April 17, 2006 / Notices Information Services, Washington, DC 20549 Extension: Rule 15g–5, SEC File No. 270–348, OMB Control No. 3235–0394. 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 approval of extension on the following rule. Rule 15g–5 (17 CFR 240.15g–5) under the Securities Exchange Act of 1934 requires brokers and dealers to disclose to customers the amount of compensation to be received by their sales agents in connection with penny stock transactions. It is estimated that approximately 240 respondents incur an average burden of 100 hours annually to comply with the rule. 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 by sending an e-mail to: David_Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, c/o Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312, or send an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted to the Office of Management and Budget within 30 days of this notice. Dated: April 6, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–5682 Filed 4–14–06; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION dsatterwhite on PROD1PC76 with NOTICES Submission for OMB Review; Comment Requested Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Extension: Rule 15g–6, SEC File No. 270–349 and OMB Control No. 3235–0395. VerDate Aug<31>2005 16:16 Apr 14, 2006 Jkt 208001 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. Rule 15g–6—Account Statements for Penny Stock Customers Rule 15g–6 (17 CFR 240.15g–6) under the Securities Exchange Act of 1934 requires brokers and dealers that sell penny stocks to their customers to provide monthly account statements containing information with regard to the penny stocks held in customer accounts. The information is required to be provided to customers of brokerdealers that effect penny stock transactions in order to provide those customers with information that is not now publicly available. Without this information, investors would be less able to protect themselves from fraud and to make informed investment decisions. The staff estimates that there are approximately 240 broker-dealers that are subject to the rule. The staff estimates that the firms affected by the rule will, at any one time, have approximately 150 new customers with whom they have effected transactions in penny stocks, each of whom would receive a maximum of 12 account statements per year, for a total of 1,800 account statements annually for each firm (150 customers × 12 account statements/customer). The staff estimates that a broker-dealer would expend approximately three minutes in processing the information required for each account statement. Accordingly, the estimated average annual burden would equal 90 hours (1,800 account statements × 3 minutes/60 minutes = 90 hours), and the estimated average total burden would equal 21,600 hours (90 hours × 240). 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 by sending an e-mail to: David_Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief Information Officer, Securities and PO 00000 Frm 00081 Fmt 4703 Sfmt 4703 Exchange Commission, c/o Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312, or send an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted to the Office of Management and Budget within 30 days of this notice. Dated: April 6, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–5684 Filed 4–14–06; 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 19a–1, SEC File No. 270–240 and 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’’) has submitted to the Office of Management and Budget requests for extension of the previously approved collection of information discussed below. 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 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 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.’’ E:\FR\FM\17APN1.SGM 17APN1

Agencies

[Federal Register Volume 71, Number 73 (Monday, April 17, 2006)]
[Notices]
[Page 19762]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-5684]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Requested

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549.

Extension:
    Rule 15g-6, SEC File No. 270-349 and OMB Control No. 3235-0395.

    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.

Rule 15g-6--Account Statements for Penny Stock Customers

    Rule 15g-6 (17 CFR 240.15g-6) under the Securities Exchange Act of 
1934 requires brokers and dealers that sell penny stocks to their 
customers to provide monthly account statements containing information 
with regard to the penny stocks held in customer accounts. The 
information is required to be provided to customers of broker-dealers 
that effect penny stock transactions in order to provide those 
customers with information that is not now publicly available. Without 
this information, investors would be less able to protect themselves 
from fraud and to make informed investment decisions.
    The staff estimates that there are approximately 240 broker-dealers 
that are subject to the rule. The staff estimates that the firms 
affected by the rule will, at any one time, have approximately 150 new 
customers with whom they have effected transactions in penny stocks, 
each of whom would receive a maximum of 12 account statements per year, 
for a total of 1,800 account statements annually for each firm (150 
customers x 12 account statements/customer). The staff estimates that a 
broker-dealer would expend approximately three minutes in processing 
the information required for each account statement. Accordingly, the 
estimated average annual burden would equal 90 hours (1,800 account 
statements x 3 minutes/60 minutes = 90 hours), and the estimated 
average total burden would equal 21,600 hours (90 hours x 240).
    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 by sending an e-mail to: David--
Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Shirley 
Martinson, 6432 General Green Way, Alexandria, Virginia 22312, or send 
an e-mail to: PRA--Mailbox@sec.gov. Comments must be submitted to the 
Office of Management and Budget within 30 days of this notice.

    Dated: April 6, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. E6-5684 Filed 4-14-06; 8:45 am]
BILLING CODE 8010-01-P
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