Submission for OMB Review, Comment Request, 70443-70444 [E6-20428]

Download as PDF mstockstill on PROD1PC61 with NOTICES Federal Register / Vol. 71, No. 232 / Monday, December 4, 2006 / Notices verification of compliance with securities law requirements and assures the public availability of such information. The information provided is mandatory and all information is made available to the public upon request. Form F–7 takes approximately 4 hours per response to prepare and is filed by 5 respondents. We estimate that 25% of 4 hours per response (one hour) is prepared by the company for a total annual reporting burden of 5 hours (one hour per response × 5 responses). Form F–8 (17 CFR 239.38) may be used to register under the Securities Act of 1933 (15 U.S.C. 77a et seq.) securities of certain Canadian issuers to be used in exchange offers or business combinations. The information collected is intended to ensure that the information required to be filed by the Commission permits verification of compliance with securities law requirements and assures the public availability of such information. The information provided is mandatory and all information is made available to the public upon request. Form F–8 takes approximately one hour per response to prepare and is filed by 10 respondents. We estimate that 25% of one hour per response (15 minutes) is prepared by the company for a total annual reporting burden of 3 hours (15 minutes/60 minutes per response × 10 responses = 2.5 hours rounded to 3 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. Written 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 send an email 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, VA 22312; or send an email to PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. November 20, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–20427 Filed 12–1–06; 8:45 am] BILLING CODE 8011–01–P VerDate Aug<31>2005 11:51 Dec 01, 2006 Jkt 211001 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: Rule 17Ad–4(b) and (c), SEC File No. 270–264, OMB Control No. 3235– 0341. 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 17Ad–4(b) and (c) (17 CFR 240.17Ad–4) under the Securities Exchange Act of 1934 (17 U.S.C. 78a et seq.) is used to document when transfer agents are exempt, or no longer exempt, from the minimum performance standards and certain recordkeeping provisions of the Commission’s transfer agent rules. Rule 17Ad–4(c) sets forth the conditions under which a registered transfer agent loses its exempt status. Once the conditions for exemption no longer exist, the transfer agent, to keep the appropriate regulatory authority (‘‘ARA’’) apprised of its current status, must prepare, and file if the ARA for the transfer agent is the Board of Governors of the Federal Reserve System (‘‘BGFRS’’) or the Federal Deposit Insurance Corporation (‘‘FDIC’’), a notice of loss of exempt status under paragraph (c). The transfer agent then cannot claim exempt status under Rule 17Ad–4(b) again until it remains subject to the minimum performance standards for non-exempt transfer agents for six consecutive months. The ARAs use the information contained in the notice to determine whether a registered transfer agent qualifies for the exemption, to determine when a registered transfer agent no longer qualifies for the exemption, and to determine the extent to which that transfer agent is subject to regulation. The BGFRS receives approximately twelve notices of exempt status and six notices of loss of exempt status annually. The FDIC receives approximately eighteen notices of exempt status and three notices of loss of exempt status annually. The Commission and the Office of the Comptroller of the Currency (‘‘OCC’’) do not require transfer agents to file a notice of exempt status or loss of PO 00000 Frm 00084 Fmt 4703 Sfmt 4703 70443 exempt status. Instead, transfer agents whose ARA is the Commission or OCC need only to prepare and maintain these notices. The Commission estimates that approximately sixteen notices of exempt status and loss of exempt status are prepared annually by transfer agents whose ARA is the Commission. Similarly, the OCC estimates that the transfer agents for which it is the ARA prepare and maintain approximately fifteen notices of exempt status and loss of exempt status annually. Thus, a total of approximately seventy notices of exempt status and loss of exempt status are prepared and maintained by transfer agents annually. Of these seventy notices, approximately forty are filed with an ARA. Any additional costs associated with filing such notices would be limited primarily to postage, which would be minimal. Since the Commission estimates that no more than one-half hour is required to prepare each notice, the total annual burden to transfer agents is approximately thirty-five hours. The average cost per hour is approximately $30. Therefore, the total cost of compliance to the transfer agent community is $1,050. A transfer agent should prepare and maintain in its possession or file with its ARA notice of exempt status or loss of exempt status for the period of the exemption or loss of exemption. When the transfer agent’s status changes, the transfer agent should file a notice of exempt status or loss of exempt status reflecting that change. The notice requirement is mandatory to determine when a registered transfer agent no longer qualifies for the exemption, and to determine the extent to which that transfer agent is subject to regulation. Notices submitted according to Rule 17Ad–4(b) and (c) will not be kept confidential. 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 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, VA 22312; or by sending an e-mail to: E:\FR\FM\04DEN1.SGM 04DEN1 70444 Federal Register / Vol. 71, No. 232 / Monday, December 4, 2006 / Notices PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: November 20, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–20428 Filed 12–1–06; 8:45 am] BILLING CODE 8011–01–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. mstockstill on PROD1PC61 with NOTICES Extension: Rule 17f–2(a), SEC File No. 270– 34, OMB Control No. 3235–0034. 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 17f–2 (17 CFR 240.17f–2) under the Securities Exchange Act of 1934 (17 U.S.C. 78a et seq.) requires that securities professionals be fingerprinted. This requirement serves to identify security risk personnel, to allow an employer to make fully informed employment decisions, and to deter possible wrongdoers from seeking employment in the securities industry. Partners, directors, officers, and employees of exchanges, broker, dealers, transfer agents, and clearing agencies are included. It is estimated that approximately 10,000 respondents will submit fingerprint cards. It is also estimated that each respondent will submit 55 fingerprint cards. The staff estimates that the average number of hours necessary to comply with the Rule 17f–2(a) is one-half hour. The total burden is 275,000 hours for respondents. The average cost per hour is approximately $50. Therefore, the total cost of compliance for respondents is $13,750,000. Fingerprint cards submitted under Rule 17f–2(a) must be retained for a period of not less than three years after termination of the person’s employment relationship with the organization. Submitting fingerprint cards for all securities personnel is mandatory to obtain the benefit of identifying security risk personnel, allowing an employer to make fully informed employment VerDate Aug<31>2005 11:51 Dec 01, 2006 Jkt 211001 decisions and deterring possible wrongdoers from seeking employment in the securities industry. Fingerprint cards submitted according to Rule 17f– 2(a) will not be kept confidential. 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 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, VA, 22312; or by sending an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: November 20, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–20430 Filed 12–1–06; 8:45 am] BILLING CODE 8011–01–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: 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’’) has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. Rule 605 of Regulation NMS (17 CFR 242.605),1 f/k/a Rule 11Ac1–5 (17 CFR 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 PO 00000 Frm 00085 Fmt 4703 Sfmt 4703 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 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 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\04DEN1.SGM 04DEN1

Agencies

[Federal Register Volume 71, Number 232 (Monday, December 4, 2006)]
[Notices]
[Pages 70443-70444]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-20428]


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

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: Rule 17Ad-4(b) and (c), SEC File No. 270-264, OMB Control 
No. 3235-0341.

    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 17Ad-4(b) and (c) (17 CFR 240.17Ad-4) under the Securities 
Exchange Act of 1934 (17 U.S.C. 78a et seq.) is used to document when 
transfer agents are exempt, or no longer exempt, from the minimum 
performance standards and certain recordkeeping provisions of the 
Commission's transfer agent rules. Rule 17Ad-4(c) sets forth the 
conditions under which a registered transfer agent loses its exempt 
status. Once the conditions for exemption no longer exist, the transfer 
agent, to keep the appropriate regulatory authority (``ARA'') apprised 
of its current status, must prepare, and file if the ARA for the 
transfer agent is the Board of Governors of the Federal Reserve System 
(``BGFRS'') or the Federal Deposit Insurance Corporation (``FDIC''), a 
notice of loss of exempt status under paragraph (c). The transfer agent 
then cannot claim exempt status under Rule 17Ad-4(b) again until it 
remains subject to the minimum performance standards for non-exempt 
transfer agents for six consecutive months. The ARAs use the 
information contained in the notice to determine whether a registered 
transfer agent qualifies for the exemption, to determine when a 
registered transfer agent no longer qualifies for the exemption, and to 
determine the extent to which that transfer agent is subject to 
regulation.
    The BGFRS receives approximately twelve notices of exempt status 
and six notices of loss of exempt status annually. The FDIC receives 
approximately eighteen notices of exempt status and three notices of 
loss of exempt status annually. The Commission and the Office of the 
Comptroller of the Currency (``OCC'') do not require transfer agents to 
file a notice of exempt status or loss of exempt status. Instead, 
transfer agents whose ARA is the Commission or OCC need only to prepare 
and maintain these notices. The Commission estimates that approximately 
sixteen notices of exempt status and loss of exempt status are prepared 
annually by transfer agents whose ARA is the Commission. Similarly, the 
OCC estimates that the transfer agents for which it is the ARA prepare 
and maintain approximately fifteen notices of exempt status and loss of 
exempt status annually. Thus, a total of approximately seventy notices 
of exempt status and loss of exempt status are prepared and maintained 
by transfer agents annually. Of these seventy notices, approximately 
forty are filed with an ARA. Any additional costs associated with 
filing such notices would be limited primarily to postage, which would 
be minimal. Since the Commission estimates that no more than one-half 
hour is required to prepare each notice, the total annual burden to 
transfer agents is approximately thirty-five hours. The average cost 
per hour is approximately $30. Therefore, the total cost of compliance 
to the transfer agent community is $1,050.
    A transfer agent should prepare and maintain in its possession or 
file with its ARA notice of exempt status or loss of exempt status for 
the period of the exemption or loss of exemption. When the transfer 
agent's status changes, the transfer agent should file a notice of 
exempt status or loss of exempt status reflecting that change. The 
notice requirement is mandatory to determine when a registered transfer 
agent no longer qualifies for the exemption, and to determine the 
extent to which that transfer agent is subject to regulation. Notices 
submitted according to Rule 17Ad-4(b) and (c) will not be kept 
confidential. 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 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, VA 22312; or by sending 
an e-mail to:

[[Page 70444]]

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

    Dated: November 20, 2006.
Nancy M. Morris,
Secretary.
 [FR Doc. E6-20428 Filed 12-1-06; 8:45 am]
BILLING CODE 8011-01-P