Submission for OMB Review; Comment Request, 55525-55526 [06-7999]

Download as PDF Federal Register / Vol. 71, No. 184 / Friday, September 22, 2006 / Notices sheets (‘‘EBS’’) requests. The Commission uses the information for enforcement inquiries or investigations and trading reconstructions, as well as for inspections and examinations. The Commission estimates that it sends approximately 27,000 electronic blue sheet requests per year. Accordingly, the annual aggregate hour burden for electronic and manual response firms is estimated to be 3,564 hours and 405 hours, respectively. In addition, the Commission estimates that it will request 1,400 broker-dealers to supply the contact information identified in Rule 17a–25(c) and estimates the total aggregate burden hours to be 350. Thus, the annual aggregate burden for all respondents to the collection of information requirements of Rule 17a–25 is estimated at 4,319 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. General comments regarding the estimated burden hours should be directed to the Desk Officer for the Securities and Exchange Commission at the address below. Any comments concerning the accuracy of the estimated average burden hours for compliance with Commission rules and forms should be directed to (i) the 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 email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: September 11, 2006. Jill M. Peterson, Assistant Secretary. [FR Doc. 06–7996 Filed 9–21–06; 8:45 am] BILLING CODE 8010–01–P sroberts on PROD1PC70 with NOTICES 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. VerDate Aug<31>2005 20:37 Sep 21, 2006 Jkt 208001 Extension: Rules 17h–1T and 17h–2T, SEC File No. 270–359, OMB Control No. 3235–0410. 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 collections of information discussed below. Rule 17h–1T (17 CFR 240.17h–1T) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (the ‘‘Act’’) requires a broker-dealer to maintain and preserve records and other information concerning certain entities that are associated with the broker-dealer. This requirement extends to the financial and securities activities of the holding company, affiliates and subsidiaries of the broker-dealer that are reasonably likely to have a material impact on the financial or operational condition of the broker-dealer. Rule 17h–2T (17 CFR 240.17h–2T) under the Act requires a broker-dealer to file with the Commission quarterly reports and a cumulative year-end report concerning the information required to be maintained and preserved under Rule 17h–1T. The collection of information required by Rules 17h–1T and 17h–2T is necessary to enable the Commission to monitor the activities of a broker-dealer affiliate whose business activities is reasonably likely to have a material impact on the financial and operational condition of the broker-dealer. Without this information, the Commission would be unable to assess the potentially damaging impact of the affiliate’s activities on the broker-dealer. There are currently 200 respondents that must comply with Rules 17h–1T and 17h–2T. Each of these 200 respondents require approximately 10 hours per year, or 2.5 hours per quarter, to maintain the records required under Rule 17h–1T, for an aggregate annual burden of 2,000 hours (200 respondents × 10 hours). In addition, each of these 200 respondents must make five annual responses under Rule 17h–2T. These five responses require approximately 14 hours per respondent per year, or 3.5 hours per quarter, for an aggregate annual burden of 2,800 hours (200 respondents × 14 hours). In addition, there are approximately five new respondents per year 1 that must draft an organizational chart required under 1 However, the staff further estimates that the number of respondents decreases by at least that many firms per year as a result of mergers and other business factors. PO 00000 Frm 00110 Fmt 4703 Sfmt 4703 55525 Rule 17h–1T and establish a system for complying with the Rules. The staff estimates that drafting the required organizational chart requires one hour and establishing a system for complying with the Rules requires three hours, thus requiring an aggregate of 20 hours (5 new respondents × 4 hours). Thus, the total compliance burden per year is approximately 4,820 burden hours (2,000 + 2,800 + 20). Rule 17h–1T specifies that the records required to be maintained under the Rule must be preserved for a period of not less than three years. There is no specific retention period or record keeping requirement for Rule 17h–2T. The collection of information is mandatory and the information required to be provided to the Commission pursuant to these Rules are deemed confidential, notwithstanding any other provision of law under section 17(h)(5) of the Act (15 U.S.C. 78q(h)(5)) and section 552(b)(3)(B) of the Freedom of Information Act (5 U.S.C. 552(b)(3)(B)). 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. Comments should be directed to (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 OMB within 30 days of this notice. Dated: September 11, 2006. Jill M. Peterson, Assistant Secretary. [FR Doc. 06–7997 Filed 9–21–06; 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: E:\FR\FM\22SEN1.SGM 22SEN1 55526 Federal Register / Vol. 71, No. 184 / Friday, September 22, 2006 / Notices sroberts on PROD1PC70 with NOTICES Rule 27f–1 and Form N–27F–1; SEC File No. 270–487; OMB Control No. 3235– 0546. 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. Section 27(f) of the Investment Company Act of 1940 (‘‘Act’’) (15 U.S.C. 80a–27(f)) provides that ‘‘[w]ith respect to any periodic payment plan (other than a plan under which the amount of sales load deducted from any payment thereon does not exceed 9 per centum of such payment), the custodian bank for such plan shall mail to each certificate holder, within sixty days after the issuance of the certificate, a statement of charges to be deducted from the projected payments on the certificate and a notice of his right of withdrawal as specified in this section.’’ Section 27(f) authorizes the Commission to ‘‘make rules specifying the method, form, and contents of the notice required by this subsection.’’ Rule 27f–1 (17 CFR 270.27f–1) under the Act, entitled ‘‘Notice of Right of Withdrawal Required to be Mailed to Periodic Payment Plan Certificate Holders and Exemption from Section 27(f) for Certain Periodic Payment Plan Certificates,’’ provides instructions for the delivery of the notice required by section 27(f). Rule 27f–1(d) prescribes Form N– 27F–1 (17 CFR 274.127f–1), which sets forth the language that custodian banks for periodic payment plans must use in informing certificate holders of their withdrawal right pursuant to section 27(f). The instructions to the form provide that the notice must be on the sender’s letterhead. The Commission does not receive a copy of the Form N– 27F–1 notice. The Form N–27F–1 notice informs certificate holders of their rights in connection with the certificates they hold. Specifically, it is intended to encourage new purchasers of plan certificates to reassess the costs and benefits of their investment and to provide them with an opportunity to recover their initial investment without penalty. The disclosure assists certificate holders in making careful and fully informed decisions about whether to invest in periodic payment plan certificates. The frequency with which each of these issuers or their representatives must file Form N–27F–1 notices varies VerDate Aug<31>2005 20:37 Sep 21, 2006 Jkt 208001 with the number of periodic payment plans sold. Commission staff spoke with representatives of a number of firms in the industry that currently have periodic payment plan accounts. Based upon these conversations, the staff estimates that 3 issuers of periodic payment plan certificates send out an aggregate of approximately 535 notices per year. The staff further estimates that all the issuers that send Form N–27F– 1 notices use outside contractors to print and distribute the notices, and incur no hourly burden. The estimate of annual 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 and forms. Complying with the collection of information requirements of Rule 27f–1 is mandatory for custodian banks of periodic payment plans for which the sales load deducted from any payment exceeds 9 percent of the payment.1 The information provided pursuant to Rule 27f–1 will be provided to third parties and, therefore, will not be kept confidential. The Commission is seeking OMB approval, because 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 by 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 by e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: September 11, 2006. Jill M. Peterson, Assistant Secretary. [FR Doc. 06–7999 Filed 9–21–06; 8:45 am] BILLING CODE 8010–01–P 1 The rule also permits the issuer, its principal underwriter, its depositor, or its record-keeping agent to mail the notice if the custodian bank has delegated the mailing of the notice to any of them or if the issuer has been permitted to operate without a custodian bank by Commission order. See 17 CFR 270.27f–1. PO 00000 Frm 00111 Fmt 4703 Sfmt 4703 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. Extension: Rule 605 of Regulation NMS, SEC File No. 270–488, OMB Control No. 3235–0542. Rule 606 of Regulation NMS, SEC File No. 270–489, OMB Control No. 3235– 0541. 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’’) intends to submit to the Office of Management and Budget (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. Rule 605 of Regulation NMS (‘‘Rule 605’’) (17 CFR 242.605),1 f/k/a Rule 11Ac1–5 (17 CFR.240.11Ac1–5), requires market centers to make available to the public monthly order execution reports in electronic form. The Commission believes that many market centers retain most, if not all, the underlying raw data necessary to generate these reports in electronic format. Once the necessary data is collected, market centers could either program their systems to generate the statistics and reports, or transfer the data to a service provider (such as an independent company in the business of preparing such reports or a selfregulatory organization (‘‘SRO’’)) that would generate the statistics and reports. The collection of information obligations of Rule 605 apply to all market centers that receive covered orders in national market system securities. The Commission estimates that approximately 302 market centers are subject to the collection of information obligations of Rule 605. Each of these respondents is required to respond to the collection of information on a monthly basis. The Commission staff estimates that, on average, Rule 605 causes respondents 1 Regulation NMS, adopted by the Commission in June 2005, redesignated the national market system rules previously adopted under Section 11A of the Securities Exchange Act of 1934 (‘‘Exchange Act’’). Rule 11Ac1–5 under the Exchange Act was redesignated Rule 605 of Regulation NMS, and Rule 11Ac1–6 under the Exchange Act was redesignated Rule 606 of Regulation NMS. No substantive amendments were made to Rule 605 and Rule 606 of Regulation NMS. See Securities Exchange Act Release No. 51808 (June 9, 2005), 70 FR 37496 (June 29, 2005). E:\FR\FM\22SEN1.SGM 22SEN1

Agencies

[Federal Register Volume 71, Number 184 (Friday, September 22, 2006)]
[Notices]
[Pages 55525-55526]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-7999]


-----------------------------------------------------------------------

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:

[[Page 55526]]

    Rule 27f-1 and Form N-27F-1; SEC File No. 270-487; OMB Control 
No. 3235-0546.

    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.
    Section 27(f) of the Investment Company Act of 1940 (``Act'') (15 
U.S.C. 80a-27(f)) provides that ``[w]ith respect to any periodic 
payment plan (other than a plan under which the amount of sales load 
deducted from any payment thereon does not exceed 9 per centum of such 
payment), the custodian bank for such plan shall mail to each 
certificate holder, within sixty days after the issuance of the 
certificate, a statement of charges to be deducted from the projected 
payments on the certificate and a notice of his right of withdrawal as 
specified in this section.''
    Section 27(f) authorizes the Commission to ``make rules specifying 
the method, form, and contents of the notice required by this 
subsection.'' Rule 27f-1 (17 CFR 270.27f-1) under the Act, entitled 
``Notice of Right of Withdrawal Required to be Mailed to Periodic 
Payment Plan Certificate Holders and Exemption from Section 27(f) for 
Certain Periodic Payment Plan Certificates,'' provides instructions for 
the delivery of the notice required by section 27(f).
    Rule 27f-1(d) prescribes Form N-27F-1 (17 CFR 274.127f-1), which 
sets forth the language that custodian banks for periodic payment plans 
must use in informing certificate holders of their withdrawal right 
pursuant to section 27(f). The instructions to the form provide that 
the notice must be on the sender's letterhead. The Commission does not 
receive a copy of the Form N-27F-1 notice.
    The Form N-27F-1 notice informs certificate holders of their rights 
in connection with the certificates they hold. Specifically, it is 
intended to encourage new purchasers of plan certificates to reassess 
the costs and benefits of their investment and to provide them with an 
opportunity to recover their initial investment without penalty. The 
disclosure assists certificate holders in making careful and fully 
informed decisions about whether to invest in periodic payment plan 
certificates.
    The frequency with which each of these issuers or their 
representatives must file Form N-27F-1 notices varies with the number 
of periodic payment plans sold. Commission staff spoke with 
representatives of a number of firms in the industry that currently 
have periodic payment plan accounts. Based upon these conversations, 
the staff estimates that 3 issuers of periodic payment plan 
certificates send out an aggregate of approximately 535 notices per 
year. The staff further estimates that all the issuers that send Form 
N-27F-1 notices use outside contractors to print and distribute the 
notices, and incur no hourly burden. The estimate of annual 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 and forms.
    Complying with the collection of information requirements of Rule 
27f-1 is mandatory for custodian banks of periodic payment plans for 
which the sales load deducted from any payment exceeds 9 percent of the 
payment.\1\ The information provided pursuant to Rule 27f-1 will be 
provided to third parties and, therefore, will not be kept 
confidential. The Commission is seeking OMB approval, because 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.
---------------------------------------------------------------------------

    \1\ The rule also permits the issuer, its principal underwriter, 
its depositor, or its record-keeping agent to mail the notice if the 
custodian bank has delegated the mailing of the notice to any of 
them or if the issuer has been permitted to operate without a 
custodian bank by Commission order. See 17 CFR 270.27f-1.
---------------------------------------------------------------------------

    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 by 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 by e-
mail to: PRA--Mailbox@sec.gov. Comments must be submitted to OMB within 
30 days of this notice.

    Dated: September 11, 2006.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 06-7999 Filed 9-21-06; 8:45 am]
BILLING CODE 8010-01-P