Submission for OMB Review; Comment Request, 1566 [E7-302]
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Federal Register / Vol. 72, No. 8 / Friday, January 12, 2007 / Notices
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 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 to OMB within 30 days of
this notice.
January 3, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–301 Filed 1–11–07; 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.
rmajette on PROD1PC67 with NOTICES
Extension:
Rule 15c2–12; SEC File No. 270–330; OMB
Control No. 3235–0372.
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 for extension
and approval.
• Rule 15c2–12 Disclosure
requirements for municipal securities
Rule 15c2–12 (17 CFR 240.15c2–12),
under the Securities Exchange Act of
1934 (15 U.S.C. 78 et. seq.), requires
underwriters of municipal securities: (1)
To obtain and review a copy of an
official statement deemed final by an
issuer of the securities, except for the
omission of specified information; (2) in
non-competitively bid offerings, to make
available, upon request, the most recent
preliminary official statement, if any; (3)
to contract with the issuer of the
securities, or its agent, to receive, within
VerDate Aug<31>2005
15:41 Jan 11, 2007
Jkt 211001
specified time periods, sufficient copies
of the issuer’s final official statement to
comply both with this rule and any
rules of the MSRB; (4) to provide, for a
specified period of time, copies of the
final official statement to any potential
customer upon request; (5) before
purchasing or selling municipal
securities in connection with an
offering, to reasonably determine that
the issuer or other specified person has
undertaken, in a written agreement or
contract, for the benefit of holders of
such municipal securities, to provide
certain information about the issue or
issuer on a continuing basis to a
nationally recognized municipal
securities information repository; and
(6) to review the information the issuer
of the municipal security has
undertaken to provide prior to
recommending a transaction in the
municipal security.
These disclosure and recordkeeping
requirements will ensure that investors
have adequate access to official
disclosure documents that contain
details about the value and risks of
particular municipal securities at the
time of issuance while the existence of
compulsory repositories will ensure that
investors have continued access to
terms and provisions relating to certain
static features of those municipal
securities. The provisions of Rule 15c2–
12 regarding an issuer’s continuing
disclosure requirements assist investors
by ensuring that information about an
issue or issuer remains available after
the issuance.
Municipal offerings of less than $1
million are exempt from the rule, as are
offerings of municipal securities issued
in large denominations that are sold to
no more than 35 sophisticated investors,
have short-term maturities, or have
short-term tender or put features. It is
estimated that approximately 12,000
brokers, dealers, municipal securities
dealers, issuers of municipal securities,
and nationally recognized municipal
securities information repositories will
spend a total of 123,850 hours per year
complying with Rule 15c2–12.
There is no specific retention period
applied by Rule 15c2–12 for the
recordkeeping requirement contained in
Rule 15c2–12. The retention period is
determined by private agreement
between a nationally recognized
municipal securities information
repository and the issuer.
The recordkeeping requirement is
mandatory to ensure that investors have
access to information about the issuer
and particular issues of municipal
securities. This rule does not involve
the collection of confidential
information. Please note that an agency
PO 00000
Frm 00081
Fmt 4703
Sfmt 4703
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)
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 to OMB within 30 days of
this notice.
January 3, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–302 Filed 1–11–07; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Submissions for OMB Review;
Comment Request
Upon written request; copies available
from: Securities and Exchange
Commission, Office of Filings and
Information Services, Washington, DC
20549.
Extensions:
Rule 14f–1; OMB Control No. 3235–0108;
SEC File No. 270–127.
Rule 12g3–2; OMB Control No. 3235–0119;
SEC File No. 270–104.
Rule 13e–1; OMB Control No. 3235–0305;
SEC File No. 270–255.
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 these
requests for extension of the previously
approved collections of information
discussed below.
Rule 14f–1 (17 CFR 240.14f–1)
requires issuers to disclose a change in
a majority of the directors of the issuer.
The information filed under Rule 14f–1
must be filed with the Commission and
is publicly available. We estimate that it
takes approximately 18 burden hours to
provide the information required under
Rule 14f–1 and that the information is
filed by 44 respondents for a total
annual burden of 792.
E:\FR\FM\12JAN1.SGM
12JAN1
]]>Agencies
[Federal Register Volume 72, Number 8 (Friday, January 12, 2007)]
[Notices]
[Page 1566]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-302]
-----------------------------------------------------------------------
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 15c2-12; SEC File No. 270-330; OMB Control No. 3235-0372.
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 for extension and approval.
Rule 15c2-12 Disclosure requirements for municipal
securities
Rule 15c2-12 (17 CFR 240.15c2-12), under the Securities Exchange
Act of 1934 (15 U.S.C. 78 et. seq.), requires underwriters of municipal
securities: (1) To obtain and review a copy of an official statement
deemed final by an issuer of the securities, except for the omission of
specified information; (2) in non-competitively bid offerings, to make
available, upon request, the most recent preliminary official
statement, if any; (3) to contract with the issuer of the securities,
or its agent, to receive, within specified time periods, sufficient
copies of the issuer's final official statement to comply both with
this rule and any rules of the MSRB; (4) to provide, for a specified
period of time, copies of the final official statement to any potential
customer upon request; (5) before purchasing or selling municipal
securities in connection with an offering, to reasonably determine that
the issuer or other specified person has undertaken, in a written
agreement or contract, for the benefit of holders of such municipal
securities, to provide certain information about the issue or issuer on
a continuing basis to a nationally recognized municipal securities
information repository; and (6) to review the information the issuer of
the municipal security has undertaken to provide prior to recommending
a transaction in the municipal security.
These disclosure and recordkeeping requirements will ensure that
investors have adequate access to official disclosure documents that
contain details about the value and risks of particular municipal
securities at the time of issuance while the existence of compulsory
repositories will ensure that investors have continued access to terms
and provisions relating to certain static features of those municipal
securities. The provisions of Rule 15c2-12 regarding an issuer's
continuing disclosure requirements assist investors by ensuring that
information about an issue or issuer remains available after the
issuance.
Municipal offerings of less than $1 million are exempt from the
rule, as are offerings of municipal securities issued in large
denominations that are sold to no more than 35 sophisticated investors,
have short-term maturities, or have short-term tender or put features.
It is estimated that approximately 12,000 brokers, dealers, municipal
securities dealers, issuers of municipal securities, and nationally
recognized municipal securities information repositories will spend a
total of 123,850 hours per year complying with Rule 15c2-12.
There is no specific retention period applied by Rule 15c2-12 for
the recordkeeping requirement contained in Rule 15c2-12. The retention
period is determined by private agreement between a nationally
recognized municipal securities information repository and the issuer.
The recordkeeping requirement is mandatory to ensure that investors
have access to information about the issuer and particular issues of
municipal securities. This rule does not involve the collection of
confidential information. 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) 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 to OMB within
30 days of this notice.
January 3, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-302 Filed 1-11-07; 8:45 am]
BILLING CODE 8011-01-P
