Proposed Collection; Comment Request, 67656-67657 [E6-19729]

Download as PDF 67656 Federal Register / Vol. 71, No. 225 / Wednesday, November 22, 2006 / Notices is necessary for the proper performance of functions of the Office of Personnel Management, and whether it will have practical utility; whether our estimate of the public burden of this collection of information is accurate, and based on valid assumptions and methodology; and ways in which we can minimize the burden of the collection of information on those who are to respond, through the use of appropriate technological collection techniques or other forms of information technology. Approximately 4,067 RI 38–115 forms will be completed annually. The form takes approximately 20 minutes to complete. The annual burden is 1,356 hours. For copies of this proposal, contact Mary Beth Smith-Toomey on (202) 606– 8358, fax (202) 418–3251 or via e-mail to MaryBeth.Smith-Toomey@opm.gov. Please include a mailing address with your request. DATES: Comments on this proposal should be received within 60 calendar days from the date of this publication. ADDRESSES: Send or deliver comments to— Pamela S. Israel, Chief, Operations Support Group, Center for Retirement and Insurance Services, U.S. Office of Personnel Management, 1900 E Street, NW., Room 3349, Washington, DC 20415–3540. For Information Regarding Administrative Coordination Contact: Cyrus S. Benson, Team Leader, Publications Team, RIS Support Services/Support Group, (202) 606– 0623. Office of Personnel Management. Dan G. Blair, Deputy Director. [FR Doc. E6–19604 Filed 11–21–06; 8:45 am] BILLING CODE 6325–38–P OFFICE OF PERSONNEL MANAGEMENT Submission for OMB Review; Comment Request for Reclearance of a Revised Information Collection: SF 3104 and SF 3104B In accordance with the Paperwork Reduction Act of 1995 (Pub. L. 104–13, May 22, 1995), this notice announces that the Office of Personnel Management (OPM) intends to submit to the Office of Management and Budget (OMB) a request for reclearance of a revised information collection. SF 3104, Application for Death Benefits/Federal pwalker on PROD1PC61 with NOTICES SUMMARY: 22:25 Nov 21, 2006 Comments on this proposal should be received within 60 calendar days from the date of this publication. DATES: Send or deliver comments to—Pamela S. Israel, Chief, Operations Support Group, Center for Retirement and Insurance Services, U.S. Office of Personnel Management, 1900 E Street, NW., Room 3349, Washington, DC 20415–3540. For Information Regarding Administrative Coordination Contact: Cyrus S. Benson, Team Leader, Publications Team, RIS Support Services/Support Group, 202) 606–0623, Room 10235, Washington, DC 20503. ADDRESSES: Office of Personnel Management. ACTION: Notice. AGENCY: VerDate Aug<31>2005 Employees Retirement System (FERS), is used by persons applying for death benefits which may be payable under FERS because of the death of an employee, former employee, or retiree who was covered by FERS at the time of his/her death or separation from Federal Service. SF 3104B, Documentation and Elections in Support of Application for Death Benefits when Deceased was an Employee at the Time of Death, is used by applicants for death benefits under FERS if the deceased was a Federal employee at the time of death. Comments are particularly invited on: • Whether this information is necessary for the proper performance of functions of OPM, and whether it will have practical utility; • Whether our estimate of the public burden of this collection of information is accurate, and based on valid assumptions and methodology; and • Ways in which we can minimize the burden of the collection of information on those who are to respond, through the use of appropriate technological collection techniques or other forms of information technology. It is estimated that approximately 7,481 SF 3104 forms will be processed annually. This form requires approximately 60 minutes to complete. An annual burden of 7,481 hours is estimated. Approximately 3,366 SF 3104B forms are expected to be processed annually. It is estimated that the form requires approximately 60 minutes to complete. An annual burden of 3,366 hours is estimated. The total annual burden is 10,847. For copies of this proposal, contact Mary Beth Smith-Toomey on (202) 606– 8358, fax (202) 418–3251 or via e-mail to MaryBeth.Smith-Toomey@opm.gov. Please include a mailing address with your request. Jkt 211001 PO 00000 Frm 00116 Fmt 4703 Sfmt 4703 Office of Personnel Management. Dan G. Blair, Deputy Director. [FR Doc. E6–19607 Filed 11–21–06; 8:45 am] BILLING CODE 6325–38–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, Extension: Washington, DC 20549. Rule 154; SEC File No. 270–438; OMB Control No. 3235–0495. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501–3520), the Securities and Exchange Commission (‘‘Commission’’) is soliciting comments on the collection of information summarized below. The Commission plans to submit these existing collections of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. The federal securities laws generally prohibit an issuer, underwriter, or dealer from delivering a security for sale unless a prospectus meeting certain requirements accompanies or precedes the security. Rule 154 (17 CFR 230.154) under the Securities Act of 1933 (15 U.S.C. 77a) (the ‘‘Securities Act’’) permits, under certain circumstances, delivery of a single prospectus to investors who purchase securities from the same issuer and share the same address (‘‘householding’’) to satisfy the applicable prospectus delivery requirements.1 The purpose of Rule 154 is to reduce the amount of duplicative prospectuses delivered to investors sharing the same address. Under Rule 154, a prospectus is considered delivered to all investors at a shared address, for purposes of the federal securities laws, if the person relying on the rule delivers the prospectus to the shared address and the investors consent to the delivery of a single prospectus. The rule applies to 1 The Securities Act requires the delivery of prospectuses to investors who buy securities from an issuer or from underwriters or dealers who participate in a registered distribution of securities. See Securities Act sections 2(a)(10), 4(1), 4(3), 5(b) [15 U.S.C. 77b(a)(10), 77d(1), 77d(3), 77e(b); see also Rule 174 under the Securities Act (17 CFR 230.174) (regarding the prospectus delivery obligation of dealers); Rule 15c2–8 under the Securities Exchange Act of 1934 (17 CFR 240.15c2–8) (prospectus delivery obligations of brokers and dealers). E:\FR\FM\22NON1.SGM 22NON1 Federal Register / Vol. 71, No. 225 / Wednesday, November 22, 2006 / Notices pwalker on PROD1PC61 with NOTICES prospectuses and prospectus supplements. Currently, the rule permits householding of all prospectuses by an issuer, underwriter, or dealer relying on the rule if, in addition to the other conditions set forth in the rule, the issuer, underwriter, or dealer has obtained from each investor written or implied consent to householding.2 The rule requires issuers, underwriters, or dealers that wish to household prospectuses with implied consent to send a notice to each investor stating that the investors in the household will receive one prospectus in the future unless the investors provide contrary instructions. In addition, at least once a year, issuers, underwriters, or dealers, relying on Rule 154 for the householding of prospectuses, must explain to investors who have provided written or implied consent how they can revoke their consent. Preparing and sending the initial notice and the annual explanation of the right to revoke are collections of information. The rule allows issuers, underwriters, or dealers to household prospectuses and prospectus supplements if certain conditions are met. Among the conditions with which a person relying on the rule must comply are providing notice to each investor that only one prospectus will be sent to the household and, in the case of issuers that are openend mutual funds, providing to each investor who consents to householding an annual explanation of the right to revoke consent to the delivery of a single prospectus to multiple investors sharing an address. The purpose of the notice and annual explanation requirements of the rule is to ensure that investors who wish to receive individual copies of shareholder reports are able to do so. Although Rule 154 is not limited to investment companies, the Commission believes that it is used mainly by openend mutual funds and by broker-dealers that deliver prospectuses for open-end mutual funds. The Commission is unable to estimate the number of issuers other than mutual funds that rely on the rule. The Commission estimates that there are approximately 2,400 open-end mutual funds, approximately 200 of which engage in direct marketing and therefore deliver their own prospectuses. The Commission estimates that each direct-marketed 2 Rule 154 permits the householding of prospectuses that are delivered electronically to investors only if delivery is made to a shared electronic address and the investors give written consent to householding. Implied consent is not permitted in such a situation. See Rule 154(b)(4). VerDate Aug<31>2005 22:25 Nov 21, 2006 Jkt 211001 mutual fund will spend an average of 20 hours per year complying with the notice requirement of the rule, for a total of 4,000 hours. The Commission estimates that each direct-marketed fund will also spend 1 hour complying with the explanation of the right to revoke requirement of the rule, for a total of 200 hours. The Commission estimates that there are approximately 361 broker-dealers that carry customer accounts and, therefore, may be required to deliver mutual fund prospectuses. The Commission estimates that each affected brokerdealer will spend, on average, approximately 20 hours complying with the notice requirement of the rule, for a total of 7,220 hours. Each broker-dealer will also spend 1 hour complying with the annual explanation of the right to revoke requirement, for a total of 361 hours. Therefore, the total number of respondents for Rule 154 is 561 (200 mutual funds plus 361 broker-dealers), and the estimated total hour burden is 11,781 hours (4,200 hours for mutual funds plus 7,581 hours for brokerdealers). 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 and forms. 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 burden of the collections of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden 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, VA 22312; or send an e-mail to: PRA_Mailbox@sec.gov. Dated: November 15, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–19729 Filed 11–21–06; 8:45 am] SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54766; File No. S7–06–05] Order Granting the New York Stock Exchange Inc.’s (n/k/a the New York Stock Exchange LLC) Application for an Exemption Pursuant to Section 36 of the Securities Exchange Act of 1934 November 16, 2006. I. Introduction On May 26, 2005, the Securities and Exchange Commission (the ‘‘Commission’’) received an application from the New York Stock Exchange, Inc. (n/k/a the New York Stock Exchange LLC) (‘‘NYSE’’ or ‘‘Exchange’’) 1 for an exemption pursuant to section 36 2 of the Securities Exchange Act of 1934 (the ‘‘Exchange Act’’),3 in accordance with the procedures set forth in Exchange Act Rule 0–12.4 The NYSE has requested exemptive relief from section 12(a) of the Exchange Act 5 to permit its members and brokers or dealers to trade certain unregistered debt securities on its facilities.6 On July 8, 2005, the Commission approved publication of a notice of the application submitted by the NYSE, a proposed exemption order,7 and a proposed rule change by the NYSE that would incorporate the terms of the proposed exemption into the NYSE’s rules.8 We received 19 comment letters on the proposed exemption order.9 The responses are discussed 1 On October 17, 2006, the NYSE submitted an updated application to the Commission. 2 15 U.S.C. 78mm. Section 36 of the Exchange Act gives the Commission the authority to exempt any person, security or transaction from any Exchange Act provision by rule, regulation or order, to the extent that the exemption is necessary or appropriate in the public interest and consistent with the protection of investors. 3 15 U.S.C. 78a et seq. 4 17 CFR 240.0–12. Exchange Act Rule 0–12 sets forth procedures for filing applications for orders for exemptive relief pursuant to section 36. 5 15 U.S.C. 78l(a). 6 The NYSE made its exemption request with regard to the Automated Bond System (‘‘ABS’’), an existing bond trading facility. Subsequently, the NYSE filed a proposed rule change, SR–NYSE– 2006–37 (the ‘‘NYSE Bonds Proposal’’), to establish a new trading facility, NYSE Bonds, which would replace ABS. Accordingly, the Commission is granting the exemption described herein for use in conjunction with ABS and any successor bond trading facility, which would include NYSE Bonds, in the event that the NYSE Bonds Proposal is approved. 7 See Release No. 34–51998 (July 8, 2005), 70 FR 40748 (July 15, 2005). 8 See Release No. 34–51999 (July 8, 2005), 70 FR 41067 (July 15, 2005) (SR–NYSE–2004–69). 9 The commenters are as follows: Bond Market Association; Representative Michael Castle; Mr. William Dolan; Mr. Donald Dueweke; Mr. Howard Friedman; Ms. Robyn Greene; Mr. Denis Kelleher; Mr. Ron Klein; Mr. Dennis J. Lehr; Multiple Continued BILLING CODE 8011–01–P PO 00000 Frm 00117 Fmt 4703 67657 Sfmt 4703 E:\FR\FM\22NON1.SGM 22NON1

Agencies

[Federal Register Volume 71, Number 225 (Wednesday, November 22, 2006)]
[Notices]
[Pages 67656-67657]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-19729]


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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, Extension: 
Washington, DC 20549.

Rule 154; SEC File No. 270-438; OMB Control No. 3235-0495.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501-3520), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the collection of 
information summarized below. The Commission plans to submit these 
existing collections of information to the Office of Management and 
Budget (``OMB'') for extension and approval.
    The federal securities laws generally prohibit an issuer, 
underwriter, or dealer from delivering a security for sale unless a 
prospectus meeting certain requirements accompanies or precedes the 
security. Rule 154 (17 CFR 230.154) under the Securities Act of 1933 
(15 U.S.C. 77a) (the ``Securities Act'') permits, under certain 
circumstances, delivery of a single prospectus to investors who 
purchase securities from the same issuer and share the same address 
(``householding'') to satisfy the applicable prospectus delivery 
requirements.\1\ The purpose of Rule 154 is to reduce the amount of 
duplicative prospectuses delivered to investors sharing the same 
address.
---------------------------------------------------------------------------

    \1\ The Securities Act requires the delivery of prospectuses to 
investors who buy securities from an issuer or from underwriters or 
dealers who participate in a registered distribution of securities. 
See Securities Act sections 2(a)(10), 4(1), 4(3), 5(b) [15 U.S.C. 
77b(a)(10), 77d(1), 77d(3), 77e(b); see also Rule 174 under the 
Securities Act (17 CFR 230.174) (regarding the prospectus delivery 
obligation of dealers); Rule 15c2-8 under the Securities Exchange 
Act of 1934 (17 CFR 240.15c2-8) (prospectus delivery obligations of 
brokers and dealers).
---------------------------------------------------------------------------

    Under Rule 154, a prospectus is considered delivered to all 
investors at a shared address, for purposes of the federal securities 
laws, if the person relying on the rule delivers the prospectus to the 
shared address and the investors consent to the delivery of a single 
prospectus. The rule applies to

[[Page 67657]]

prospectuses and prospectus supplements. Currently, the rule permits 
householding of all prospectuses by an issuer, underwriter, or dealer 
relying on the rule if, in addition to the other conditions set forth 
in the rule, the issuer, underwriter, or dealer has obtained from each 
investor written or implied consent to householding.\2\ The rule 
requires issuers, underwriters, or dealers that wish to household 
prospectuses with implied consent to send a notice to each investor 
stating that the investors in the household will receive one prospectus 
in the future unless the investors provide contrary instructions. In 
addition, at least once a year, issuers, underwriters, or dealers, 
relying on Rule 154 for the householding of prospectuses, must explain 
to investors who have provided written or implied consent how they can 
revoke their consent. Preparing and sending the initial notice and the 
annual explanation of the right to revoke are collections of 
information.
---------------------------------------------------------------------------

    \2\ Rule 154 permits the householding of prospectuses that are 
delivered electronically to investors only if delivery is made to a 
shared electronic address and the investors give written consent to 
householding. Implied consent is not permitted in such a situation. 
See Rule 154(b)(4).
---------------------------------------------------------------------------

    The rule allows issuers, underwriters, or dealers to household 
prospectuses and prospectus supplements if certain conditions are met. 
Among the conditions with which a person relying on the rule must 
comply are providing notice to each investor that only one prospectus 
will be sent to the household and, in the case of issuers that are 
open-end mutual funds, providing to each investor who consents to 
householding an annual explanation of the right to revoke consent to 
the delivery of a single prospectus to multiple investors sharing an 
address. The purpose of the notice and annual explanation requirements 
of the rule is to ensure that investors who wish to receive individual 
copies of shareholder reports are able to do so.
    Although Rule 154 is not limited to investment companies, the 
Commission believes that it is used mainly by open-end mutual funds and 
by broker-dealers that deliver prospectuses for open-end mutual funds. 
The Commission is unable to estimate the number of issuers other than 
mutual funds that rely on the rule.
    The Commission estimates that there are approximately 2,400 open-
end mutual funds, approximately 200 of which engage in direct marketing 
and therefore deliver their own prospectuses. The Commission estimates 
that each direct-marketed mutual fund will spend an average of 20 hours 
per year complying with the notice requirement of the rule, for a total 
of 4,000 hours. The Commission estimates that each direct-marketed fund 
will also spend 1 hour complying with the explanation of the right to 
revoke requirement of the rule, for a total of 200 hours. The 
Commission estimates that there are approximately 361 broker-dealers 
that carry customer accounts and, therefore, may be required to deliver 
mutual fund prospectuses. The Commission estimates that each affected 
broker-dealer will spend, on average, approximately 20 hours complying 
with the notice requirement of the rule, for a total of 7,220 hours. 
Each broker-dealer will also spend 1 hour complying with the annual 
explanation of the right to revoke requirement, for a total of 361 
hours. Therefore, the total number of respondents for Rule 154 is 561 
(200 mutual funds plus 361 broker-dealers), and the estimated total 
hour burden is 11,781 hours (4,200 hours for mutual funds plus 7,581 
hours for broker-dealers).
    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 and forms.
    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 burden of 
the collections of information; (c) ways to enhance the quality, 
utility, and clarity of the information collected; and (d) ways to 
minimize the burden 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, VA 22312; or 
send an e-mail to: PRA--Mailbox@sec.gov.

    Dated: November 15, 2006.
Nancy M. Morris,
Secretary.
 [FR Doc. E6-19729 Filed 11-21-06; 8:45 am]
BILLING CODE 8011-01-P