Proposed Collection; Comment Request, 55526-55527 [06-8000]
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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
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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.
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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).
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sroberts on PROD1PC70 with NOTICES
Federal Register / Vol. 71, No. 184 / Friday, September 22, 2006 / Notices
to spend 6 hours per month in
additional time to collect the data
necessary to generate the reports, or 72
hours per year. With an estimated 302
market centers subject to Rule 605, the
total data collection cost to comply with
the monthly reporting requirement is
estimated to be 21,744 hours per year.
Rule 606 of Regulation NMS (‘‘Rule
606’’) (17 CFR 242.606), f/k/a Rule
11Ac1–6 (17 CFR 240.11Ac1–6),
requires broker-dealers to prepare and
disseminate quarterly order routing
reports. Much of the information needed
to generate these reports already should
be collected by broker-dealers in
connection with their periodic
evaluations of their order routing
practices. Broker-dealers must conduct
such evaluations to fulfill the duty of
best execution that they owe their
customers.
The collection of information
obligations of Rule 606 applies to
broker-dealers that route non-directed
customer orders in covered securities.
The Commission estimates that out of
the currently 3120 broker-dealers that
are subject to the collection of
information obligations of Rule 606,
clearing brokers bear a substantial
portion of the burden of complying with
the reporting and recordkeeping
requirements of Rule 606 on behalf of
small to mid-sized introducing firms.
There currently are approximately 567
clearing brokers. In addition, there are
approximately 1479 introducing brokers
that receive funds or securities from
their customers. Because at least some
of these firms also may have greater
involvement in determining where
customer orders are routed for
execution, they have been included,
along with clearing brokers, in
estimating the total burden of Rule 606.
The Commission staff estimates that
each firm significantly involved in order
routing practices incurs an average
burden of 40 hours to prepare and
disseminate a quarterly report required
by Rule 606, or a burden of 160 hours
per year. With an estimated 2046
broker-dealers significantly involved in
order routing practices, the total burden
per year to comply with the quarterly
reporting requirement in Rule 606 is
estimated to be 327,360 hours.
Rule 606 requires broker-dealers to
respond to individual customer requests
for information on orders handled by
the broker-dealer for that customer.
Clearing brokers generally bear the
burden of responding to these requests.
The Commission staff estimates that an
average clearing broker incurs an annual
burden of 400 hours (2000 responses ×
0.2 hours/response) to prepare,
disseminate, and retain responses to
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20:37 Sep 21, 2006
Jkt 208001
customers required by Rule 606. With
an estimated 567 clearing brokers
subject to Rule 606, the total burden per
year to comply with the customer
response requirement in Rule 606 is
estimated to be 226,800 hours.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burden of the collection 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.
Comments must be submitted within 60
days of this notice.
Dated: September 14, 2006.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 06–8000 Filed 9–21–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
27484; 812–13171]
Claymore Securities, Inc. and
Claymore Securities Defined
Portfolios, Notice of Application
September 18, 2006.
Securities and Exchange
Commission (‘‘Commission’’).
ACTION: Notice of application for an
order under section 12(d)(1)(J) of the
Investment Company Act of 1940
(‘‘Act’’) for an exemption from sections
12(d)(1)(A), (B) and (C) of the Act and
under sections 6(c) and 17(b) of the Act
for an exemption from section 17(a) of
the Act.
AGENCY:
Claymore
Securities, Inc. (the ‘‘Depositor’’), and
Claymore Securities Defined Portfolios
(the ‘‘Trust’’), on behalf of itself and any
existing and future series, and any
future registered unit investment trust
SUMMARY OF THE APPLICATION:
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55527
(‘‘UIT’’) sponsored by the Depositor (or
an entity controlling, controlled by or
under common control with the
Depositor) and their respective series
(the future UITs, together with the
Trust, are collectively the ‘‘Trusts,’’ the
series of the Trusts are the ‘‘Series,’’ and
the Trusts together with the Depositor
are collectively, the (‘‘Applicants’’),
request an order to permit each Series
to acquire shares of registered
investment companies or series thereof
(the ‘‘Funds’’) both within and outside
the same group of investment
companies.
APPLICANTS:
The Depositor and the
Trust.
The application was filed
on February 23, 2005 and amended on
June 28, 2006 and September 1, 2006.
FILING DATES:
HEARING OR NOTIFICATION OF HEARING: An
order granting the application will be
issued unless the Commission orders a
hearing. Interested persons may request
a hearing by writing to the
Commission’s Secretary and serving
applicants with a copy of the request,
personally or by mail. Hearing requests
should be received by the Commission
by 5:30 p.m. on October 24, 2006 and
should be accompanied by proof of
service on applicants in the form of an
affidavit or, for lawyers, a certificate of
service. Hearing requests should state
the nature of the writer’s interest, the
reason for the request, and the issues
contested. Persons who wish to be
notified of a hearing may request
notification by writing to the
Commission’s Secretary.
Secretary, U.S. Securities
and Exchange Commission, 100 F
Street, NE., Washington, DC 20549–
10901; Applicants, 2455 Corporate West
Drive, Lisle, Illinois 60532.
ADDRESSES:
FOR FURTHER INFORMATION CONTACT:
Deepak T. Pai, Senior Counsel, at (202)
551–6876, or Nadya Roytblat, Assistant
Director at (202) 551–6821 (Division of
Investment Management, Office of
Investment Company Regulation).
The
following is a summary of the
application. The complete application
may be obtained for a fee at the Public
Reference Desk, U.S. Securities and
Exchange Commission, 100 F Street,
NE., Washington DC 20549–0102, tel:
(202) 551–5850.
SUPPLEMENTARY INFORMATION:
Applicants’ Representations
1. The Trust is a UIT registered under
the Act. Each Series will be a series of
a Trust and will offer units for sale to
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]]>Agencies
[Federal Register Volume 71, Number 184 (Friday, September 22, 2006)]
[Notices]
[Pages 55526-55527]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-8000]
-----------------------------------------------------------------------
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
self-regulatory organization (``SRO'')) that would generate the
statistics and reports.
---------------------------------------------------------------------------
\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).
---------------------------------------------------------------------------
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
[[Page 55527]]
to spend 6 hours per month in additional time to collect the data
necessary to generate the reports, or 72 hours per year. With an
estimated 302 market centers subject to Rule 605, the total data
collection cost to comply with the monthly reporting requirement is
estimated to be 21,744 hours per year.
Rule 606 of Regulation NMS (``Rule 606'') (17 CFR 242.606), f/k/a
Rule 11Ac1-6 (17 CFR 240.11Ac1-6), requires broker-dealers to prepare
and disseminate quarterly order routing reports. Much of the
information needed to generate these reports already should be
collected by broker-dealers in connection with their periodic
evaluations of their order routing practices. Broker-dealers must
conduct such evaluations to fulfill the duty of best execution that
they owe their customers.
The collection of information obligations of Rule 606 applies to
broker-dealers that route non-directed customer orders in covered
securities. The Commission estimates that out of the currently 3120
broker-dealers that are subject to the collection of information
obligations of Rule 606, clearing brokers bear a substantial portion of
the burden of complying with the reporting and recordkeeping
requirements of Rule 606 on behalf of small to mid-sized introducing
firms. There currently are approximately 567 clearing brokers. In
addition, there are approximately 1479 introducing brokers that receive
funds or securities from their customers. Because at least some of
these firms also may have greater involvement in determining where
customer orders are routed for execution, they have been included,
along with clearing brokers, in estimating the total burden of Rule
606.
The Commission staff estimates that each firm significantly
involved in order routing practices incurs an average burden of 40
hours to prepare and disseminate a quarterly report required by Rule
606, or a burden of 160 hours per year. With an estimated 2046 broker-
dealers significantly involved in order routing practices, the total
burden per year to comply with the quarterly reporting requirement in
Rule 606 is estimated to be 327,360 hours.
Rule 606 requires broker-dealers to respond to individual customer
requests for information on orders handled by the broker-dealer for
that customer. Clearing brokers generally bear the burden of responding
to these requests. The Commission staff estimates that an average
clearing broker incurs an annual burden of 400 hours (2000 responses x
0.2 hours/response) to prepare, disseminate, and retain responses to
customers required by Rule 606. With an estimated 567 clearing brokers
subject to Rule 606, the total burden per year to comply with the
customer response requirement in Rule 606 is estimated to be 226,800
hours.
Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the agency, including whether the information will
have practical utility; (b) the accuracy of the agency's estimate of
the burden of the collection of information; (c) ways to enhance the
quality, utility, and clarity of the information collected; and (d)
ways to minimize the burden of the collection 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. Comments must be submitted
within 60 days of this notice.
Dated: September 14, 2006.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 06-8000 Filed 9-21-06; 8:45 am]
BILLING CODE 8010-01-P
