Proposed Collection; Comment Request, 41282 [E6-11497]

Download as PDF 41282 Federal Register / Vol. 71, No. 139 / Thursday, July 20, 2006 / Notices 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 20549–0007. rwilkins on PROD1PC63 with NOTICES_1 Extension: Form 13F; SEC File No. 270–22; OMB Control No. 3235–0006. 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 collection of information summarized below. The Commission plans to submit this collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Section 13(f) 1 of the Securities Exchange Act of 1934 2 (the ‘‘Exchange Act’’) empowers the Commission to: (1) Adopt rules that create a reporting and disclosure system to collect specific information; and (2) disseminate such information to the public. Rule 13f–1 3 under the Exchange Act requires institutional investment managers that exercise investment discretion over accounts—having in the aggregate a fair market value of at least $100,000,000 of exchange-traded or NASDAQ-quoted equity securities—to file quarterly reports with the Commission on Form 13F.4 The information collection requirements apply to institutional investment managers that meet the $100 million reporting threshold. Section 13(f)(5) of the Exchange Act defines an ‘‘institutional investment manager’’ as any person, other than a natural person, investing in or buying and selling securities for its own account, and any person exercising investment discretion with respect to the account of any other person. Form 13F under the Exchange Act defines ‘‘investment discretion’’ for purposes of Form 13F reporting. The reporting system required by Section 13(f) of the Exchange Act is intended, among other things, to create in the Commission a central repository of historical and current data about the investment activities of institutional investment managers, and to improve the body of factual data available to regulators and the public. U.S.C. 78m(f). 2 15 U.S.C. 78a et seq. 3 17 CFR 240.13f–1. 4 17 CFR 249.325. 19:44 Jul 19, 2006 Dated: June 20, 2006. J. Lynn Taylor, Assistant Secretary. [FR Doc. E6–11497 Filed 7–19–06; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request 1 15 VerDate Aug<31>2005 The Commission staff estimates that 3,378 respondents make approximately 13,512 responses under the rule each year. The staff estimates that on average, Form 13F filers spend 98.8 hours/year to prepare and submit the report. In addition, the staff estimates that 336 respondents file approximately 1,344 amendments each year. The staff estimates that on average, Form 13F filers spend 4 hours/year to prepare and submit amendments to Form 13F. The total annual burden of the rule’s requirements for all respondents therefore is estimated to be 335,090 hours ((3,378 filers × 98.8 hours) + (336 filers × 4 hours)). The estimate of average burden hours is made solely for the purposes of the Paperwork Reduction Act. The estimate is not derived from a comprehensive or even a representative survey or study of the costs of Commission rules. 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, 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. Upon Written Request, Copies Available From: Securities and Exchange Jkt 208001 PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 Commission, Office of Filings and Information Services, Washington, DC 20549. Extension: Rule 17Ac2–2; SEC File No. 270– 298; OMB Control No. 3235–0337; Form TA–2; SEC File No. 270–298; OMB Control No. 3235–0337. 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. Rule 17Ac2–2 and Form TA–2; OMB Control No. 3235–0337; SEC File No. 270–298 Rule 17Ac2–2 (17 CFR 240.17Ac2–2) and Form TA–2 (15 CFR 249b.102) under the Securities Exchange Act of 1934 (17 U.S.C. 78a et seq.) require transfer agents to file an annual report of their business activities with the Commission. The amount of time needed to comply with the requirements of Rule 17Ac2–2 and Form TA–2 varies. From the total 786 registered transfer agents, approximately 197 registrants would be required to complete only Questions 1 through 4 and the signature section of amended Form TA–2, which we estimate would take each registrant about 30 minutes, for a total burden of 99 hours (197 × .5 hours). Approximately 262 registrants would be required to answer Questions 1 through 5, 10, and 11 and the signature section, which we estimate would take about 1 hour and 30 minutes, for a total of 393 hours (262 × 1.5 hours). The remaining registrants, approximately 327, would be required to complete the entire Form TA–2, which we estimate would take about 6 hours, for a total of 1,962 hours (327 × 6 hours). We estimate that the total burden would be 2,454 hours (99 hours + 393 hours + 1,962 hours). We estimate that the total cost of reviewing and entering the information reported on the Forms TA–2 for respondents is $31.50 per hour. The Commission estimates that the total cost would be $77,301.00 annually ($31.50 × 2,454). Rule 17Ac2–2 does not involve the collection of confidential information. Please note that 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 estimated burden hours should be directed to the following persons: (i) David Rostker, Desk Officer for the E:\FR\FM\20JYN1.SGM 20JYN1

Agencies

[Federal Register Volume 71, Number 139 (Thursday, July 20, 2006)]
[Notices]
[Page 41282]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-11497]



[[Page 41282]]

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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 
20549-0007.

Extension: Form 13F; SEC File No. 270-22; OMB Control No. 3235-0006.

    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 
collection of information summarized below. The Commission plans to 
submit this collection of information to the Office of Management and 
Budget (``OMB'') for extension and approval.
    Section 13(f) \1\ of the Securities Exchange Act of 1934 \2\ (the 
``Exchange Act'') empowers the Commission to: (1) Adopt rules that 
create a reporting and disclosure system to collect specific 
information; and (2) disseminate such information to the public. Rule 
13f-1 \3\ under the Exchange Act requires institutional investment 
managers that exercise investment discretion over accounts--having in 
the aggregate a fair market value of at least $100,000,000 of exchange-
traded or NASDAQ-quoted equity securities--to file quarterly reports 
with the Commission on Form 13F.\4\
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    \1\ 15 U.S.C. 78m(f).
    \2\ 15 U.S.C. 78a et seq.
    \3\ 17 CFR 240.13f-1.
    \4\ 17 CFR 249.325.
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    The information collection requirements apply to institutional 
investment managers that meet the $100 million reporting threshold. 
Section 13(f)(5) of the Exchange Act defines an ``institutional 
investment manager'' as any person, other than a natural person, 
investing in or buying and selling securities for its own account, and 
any person exercising investment discretion with respect to the account 
of any other person. Form 13F under the Exchange Act defines 
``investment discretion'' for purposes of Form 13F reporting.
    The reporting system required by Section 13(f) of the Exchange Act 
is intended, among other things, to create in the Commission a central 
repository of historical and current data about the investment 
activities of institutional investment managers, and to improve the 
body of factual data available to regulators and the public.
    The Commission staff estimates that 3,378 respondents make 
approximately 13,512 responses under the rule each year. The staff 
estimates that on average, Form 13F filers spend 98.8 hours/year to 
prepare and submit the report. In addition, the staff estimates that 
336 respondents file approximately 1,344 amendments each year. The 
staff estimates that on average, Form 13F filers spend 4 hours/year to 
prepare and submit amendments to Form 13F. The total annual burden of 
the rule's requirements for all respondents therefore is estimated to 
be 335,090 hours ((3,378 filers x 98.8 hours) + (336 filers x 4 
hours)).
    The estimate of average burden hours is made solely for the 
purposes of the Paperwork Reduction Act. The estimate is not derived 
from a comprehensive or even a representative survey or study of the 
costs of Commission rules. 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, 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.

     Dated: June 20, 2006.
 J. Lynn Taylor,
Assistant Secretary.
 [FR Doc. E6-11497 Filed 7-19-06; 8:45 am]
BILLING CODE 8010-01-P