Submission for OMB Review; Comment Request, 19763 [E6-5689]
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Federal Register / Vol. 71, No. 73 / Monday, April 17, 2006 / Notices
dsatterwhite on PROD1PC76 with NOTICES
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 3000 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
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
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).
VerDate Aug<31>2005
15:16 Apr 14, 2006
Jkt 208001
with the collection of information
required by rule 19a–1 is mandatory for
management companies that make
written 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.
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, 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 OMB within 30 days of
this notice.
Dated: April 6, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. E6–5685 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 19d–2, SEC File No. 270–204 and
OMB Control No. 3235–0205.
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
request for extension of the previously
approved collection of information
discussed below.
Rule 19d–2 (17 CFR 240.19d–2) under
the Securities Exchange Act of 1934 (the
‘‘Act’’) prescribes the form and content
of applications to the Commission by
persons desiring stays of final
disciplinary sanctions and summary
action of self-regulatory organizations
(‘‘SROs’’) for which the Commission is
the appropriate regulatory agency.
PO 00000
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Sfmt 4703
19763
It is estimated that approximately 30
respondents will utilize this application
procedure annually, with a total burden
of 90 hours, based upon past
submissions. The staff estimates that the
average number of hours necessary to
comply with the requirements of Rule
19d–2 is 3 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 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. E6–5689 Filed 4–14–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53628; File No. 4–517]
Program for Allocation of Regulatory
Responsibilities Pursuant to Rule 17d–
2; Notice of Filing of the Plan for
Allocation of Regulatory
Responsibilities Between The
NASDAQ Stock Market LLC and the
National Association of Securities
Dealers, Inc.
April 10, 2006.
Pursuant to Section 17(d) of the
Securities Exchange of 1934 (‘‘Act’’) 1
and Rule 17d–2 thereunder,2 notice is
hereby given that on April 6, 2006, The
NASDAQ Stock Market LLC (‘‘Nasdaq’’
or ‘‘Exchange’’) and the National
Association of Securities Dealers, Inc.
(‘‘NASD’’ or ‘‘Association’’) filed with
the Securities and Exchange
Commission (‘‘SEC’’ or ‘‘Commission’’)
1 15
2 17
E:\FR\FM\17APN1.SGM
U.S.C. 78q(d).
CFR 240.17d–2.
17APN1
]]>Agencies
[Federal Register Volume 71, Number 73 (Monday, April 17, 2006)]
[Notices]
[Page 19763]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-5689]
-----------------------------------------------------------------------
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 19d-2, SEC File No. 270-204 and OMB Control No. 3235-0205.
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
request for extension of the previously approved collection of
information discussed below.
Rule 19d-2 (17 CFR 240.19d-2) under the Securities Exchange Act of
1934 (the ``Act'') prescribes the form and content of applications to
the Commission by persons desiring stays of final disciplinary
sanctions and summary action of self-regulatory organizations
(``SROs'') for which the Commission is the appropriate regulatory
agency.
It is estimated that approximately 30 respondents will utilize this
application procedure annually, with a total burden of 90 hours, based
upon past submissions. The staff estimates that the average number of
hours necessary to comply with the requirements of Rule 19d-2 is 3
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 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. E6-5689 Filed 4-14-06; 8:45 am]
BILLING CODE 8010-01-P
