In the Matter of Pretory USA, Inc. (n/k/a Sunrise Petroleum Resources, Inc.); Order of Suspension of Trading, 59545 [06-8597]

Download as PDF Federal Register / Vol. 71, No. 195 / Tuesday, October 10, 2006 / Notices Alexandria, Virginia, 22312; or send an e-mail to: PRA_Mailbox@sec.gov. Dated: September 29, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–16624 Filed 10–6–06; 8:45 am] BILLING CODE 8011–01–P 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. jlentini on PROD1PC65 with NOTICES Extension: Rule 206(3)–2; SEC File No. 270–216; OMB Control No. 3235–0243. 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’’) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Rule 206(3)–2, (17 CFR 275.206(3)–2) which is entitled ‘‘Agency Cross Transactions for Advisory Clients,’’ permits investment advisers to comply with section 206(3) of the Investment Advisers Act of 1940 (the ‘‘Act’’) (15 U.S.C. 80b–6(3)) by obtaining a client’s blanket consent to enter into agency cross transactions (i.e., a transaction in which an adviser acts as a broker to both the advisory client and the opposite party to the transaction), provided that certain disclosures are made to the client. Rule 206(3)–2 applies to all registered investment advisers. In relying on the rule, investment advisers must provide certain disclosures to their clients. Advisory clients can use the disclosures to monitor agency cross transactions that affect their advisory account. The Commission also uses the information required by Rule 206(3)–2 in connection with its investment adviser inspection program to ensure that advisers are in compliance with the rule. Without the information collected under the rule, advisory clients would not have information necessary for monitoring their adviser’s handling of their accounts and the Commission would be less efficient and effective in its inspection program. The information requirements of the rule consist of the following: (1) Prior to obtaining the client’s consent VerDate Aug<31>2005 16:42 Oct 06, 2006 Jkt 211001 appropriate disclosure must be made to the client as to the practice of, and the conflicts of interest involved in, agency cross transactions; (2) at or before the completion of any such transaction the client must be furnished with a written confirmation containing specified information and offering to furnish upon request certain additional information; and (3) at least annually, the client must be furnished with a written statement or summary as to the total number of transactions during the period covered by the consent and the total amount of commissions received by the adviser or its affiliated brokerdealer attributable to such transactions. The Commission estimates that approximately 693 respondents use the rule annually, necessitating about 32 responses per respondent each year, for a total of 22,176 responses. Each response requires an estimated 0.5 hours, for a total of 11,088 hours. The estimated average burden hours are made solely for the purposes of the Paperwork Reduction Act and are not derived from a comprehensive or representative survey or study of the cost of Commission rules and forms. This collection of information is found at (17 CFR 275.206(3)–2) and is necessary in order for the investment adviser to obtain the benefits of Rule 206(3)–2. The collection of information requirements under the rule is mandatory. Information subject to the disclosure requirements of Rule 206(3)– 2 does not require submission to the Commission; and, accordingly, the disclosure pursuant to the rule is not kept confidential. Commissionregistered investment advisers are required to maintain and preserve certain information required under Rule 206(3)–2 for five (5) years. The longterm retention of these records is necessary for the Commission’s inspection program to ascertain compliance with the Advisers Act. 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 proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use PO 00000 Frm 00120 Fmt 4703 Sfmt 4703 59545 of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within sixty 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: October 2, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–16646 Filed 10–6–06; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] In the Matter of Pretory USA, Inc. (n/k/ a Sunrise Petroleum Resources, Inc.); Order of Suspension of Trading October 5, 2006. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Pretory USA, Inc. (n/k/a Sunrise Petroleum Resources, Inc.) because it has not filed any periodic reports since it filed an amended Form 10–SB on February 18, 2000. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed company. Therefore, it is ordered, pursuant to section 12(k) of the Securities Exchange Act of 1934, that trading in the abovelisted company is suspended for the period from 9:30 a.m. EDT on October 5, 2006, through 11:59 p.m. EDT on October 18, 2006. By the Commission. Jill M. Peterson, Assistant Secretary. [FR Doc. 06–8597 Filed 10–5–06; 11:50 am] BILLING CODE 8011–01–P E:\FR\FM\10OCN1.SGM 10OCN1

Agencies

[Federal Register Volume 71, Number 195 (Tuesday, October 10, 2006)]
[Notices]
[Page 59545]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-8597]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


In the Matter of Pretory USA, Inc. (n/k/a Sunrise Petroleum 
Resources, Inc.); Order of Suspension of Trading

October 5, 2006.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Pretory USA, Inc. (n/k/a Sunrise Petroleum Resources, Inc.) because it 
has not filed any periodic reports since it filed an amended Form 10-SB 
on February 18, 2000.
    The Commission is of the opinion that the public interest and the 
protection of investors require a suspension of trading in the 
securities of the above-listed company.
    Therefore, it is ordered, pursuant to section 12(k) of the 
Securities Exchange Act of 1934, that trading in the above-listed 
company is suspended for the period from 9:30 a.m. EDT on October 5, 
2006, through 11:59 p.m. EDT on October 18, 2006.

    By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 06-8597 Filed 10-5-06; 11:50 am]
BILLING CODE 8011-01-P
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