Submission for OMB Review; Comment Request, 70444-70445 [E6-20431]

Download as PDF 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 mstockstill on PROD1PC61 with NOTICES Federal Register / Vol. 71, No. 232 / Monday, December 4, 2006 / Notices 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. The collection of information obligations imposed by Rule 605 and Rule 606 are mandatory. The response will be available to the public and will not be kept confidential. An agency may not conduct or sponsor, and a person is not required to comply with, a collection of information unless it displays a currently valid OMB control number. General comments regarding the estimated burden hours should be directed to the following persons: (1) 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, VA 22312 or send an e-mail to: VerDate Aug<31>2005 11:51 Dec 01, 2006 Jkt 211001 PRA_Mailbox@sec.gov. Comments must be submitted within 30 days of this notice. Dated: November 20, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–20431 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 11Ac1–1 SEC File No. 270– 404 OMB Control No. 3235–0461 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. Rule 11Ac1–1 (17 CFR 240.11Ac1–1), Dissemination of Quotations, contains two related collections of information necessary to disseminate market makers’ published quotations to buy and sell securities to the public. The first collection of information is found in Rule 11Ac1–1(c), 17 CFR 11Ac1–1(c). This reporting requirement obligates each ‘‘responsible broker or dealer,’’ as defined under the rule, to communicate to its exchange or association its best bids, best offers, and quotation sizes for any subject security, as defined under the rule. The second collection of information is found in Rule 11Ac1– 1(b), (17 CFR 240.11Ac1–1(b)). This reporting requirement obligates each exchange and association to make available to quotation vendors for dissemination to the public the best bid, best offer, and aggregate quotation size for each subject security.1 Brokers, 1 A third requirement under Rule 11Ac1–1, as amended at 17 CFR 11Ac1–1(c)(5), gives electronic communications networks (‘‘ECNs’’) the option of reporting to an exchange or association for public dissemination, on behalf of their OTC market maker or exchange specialist customers, the best priced orders and the full size for such orders entered by market makers, to satisfy such market makers’ reporting obligation under Rule 11Ac1–1(c). Because this reporting requirement is an alternative method of meeting the market makers’ reporting obligation, and because it is directed to nine or fewer persons (ECNs), this collection of information is not subject to OMB review under the Paperwork Reduction Act. PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 70445 dealers, other market participants, and members of the public rely on published quotation information to determine the best price and market for execution of customer orders. It is anticipated that 721 respondents, consisting of 180 exchange specialists and 541 OTC market makers, will make 246,788,005 total annual responses pursuant to Rule 11Ac1–1, resulting in an annual aggregate burden of approximately 205,486 hours. Rule 11Ac1–1 does not impose a retention period for any recordkeeping requirements. Compliance with the rule is mandatory and the information collected is made available to the public. 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) 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, VA 22312 or send an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted within 30 days of this notice. Dated: November 20, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–20437 Filed 12–1–06; 8:45 am] BILLING CODE 8011–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #10701 and #10702] Louisiana Disaster Number LA–00007 U.S. Small Business Administration. ACTION: Amendment 2. AGENCY: SUMMARY: This is an amendment of the Presidential declaration of a major disaster for the State of Louisiana (FEMA—1668—DR), dated 11/02/2006. Incident: Severe Storms and Flooding. Incident Period: 10/16/2006 and continuing through 11/08/2006. DATES: Effective Date: 11/08/2006. Physical Loan Application Deadline Date: 01/02/2007. E:\FR\FM\04DEN1.SGM 04DEN1

Agencies

[Federal Register Volume 71, Number 232 (Monday, December 4, 2006)]
[Notices]
[Pages 70444-70445]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-20431]


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

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 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 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

[[Page 70445]]

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.
    The collection of information obligations imposed by Rule 605 and 
Rule 606 are mandatory. The response will be available to the public 
and will not be kept confidential. An agency may not conduct or 
sponsor, and a person is not required to comply with, a collection of 
information unless it displays a currently valid OMB control number.
    General comments regarding the estimated burden hours should be 
directed to the following persons: (1) 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, VA 22312 or send an e-
mail to: PRA--Mailbox@sec.gov. Comments must be submitted within 30 
days of this notice.

    Dated: November 20, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. E6-20431 Filed 12-1-06; 8:45 am]
BILLING CODE 8011-01-P