Reporting and Recordkeeping Requirements Under OMB Review, 3466-3467 [E7-1076]
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3466
Federal Register / Vol. 72, No. 16 / Thursday, January 25, 2007 / Notices
2006–87), as amended, be and it hereby
is, approved on an accelerated basis.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.23
Nancy M. Morris,
Secretary.
[FR Doc. E7–1058 Filed 1–24–07; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55124; File No. SR–OCC–
2006–20]
Self-Regulatory Organizations; The
Options Clearing Corporation; Order
Approving Proposed Rule Change To
Accelerate the Expiration Date of
American-Style Equity Options That
Have Been Adjusted To Call for CashOnly Delivery
January 18, 2007.
ycherry on PROD1PC64 with NOTICES
I. Introduction
On October 26, 2006, The Options
Clearing Corporation (‘‘OCC’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’) proposed
rule change SR–OCC–2006–20 pursuant
to Section 19(b)(1) of the Securities
Exchange Act of 1934 (‘‘Act’’).1 Notice
of the proposal was published in the
Federal Register on November 29,
2006.2 The Commission received no
comment letters. For the reasons
discussed below, the Commission is
approving the proposed rule change.
II. Description
In a cash-out merger, the common
equity of the acquired company
(‘‘Security’’) is converted into a right to
receive a fixed amount of cash. On the
day after the announced consummation
date for the merger, the stock exchanges
on which the Security is traded suspend
all trading in the Security. Concurrently,
the options exchanges discontinue
trading in options overlying the
Security. If a customer does not
liquidate an out-of-the money option
position before the exchange halts
trading, its broker must carry the
position until it expires. With increasing
volume and the proliferation of options
with long expiration dates, clearing
members’ cost and operational overhead
of carrying these positions is significant.
In an effort to reduce these costs, OCC
seeks to modify its rules to accelerate
the expiration date of American-style
23 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 Securities Exchange Act Release No. 54793
(November 20, 2006), 71 FR 69172.
1 15
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14:58 Jan 24, 2007
Jkt 211001
equity options that are adjusted to call
for a cash deliverable to the earliest
practicable regular expiration date.3 The
exercise by exception price threshold
for the adjusted contracts will be $.01
per share of the amount of the cash
deliverable.4
OCC will implement the foregoing
rule changes on January 1, 2008, to
allow clearing members and customers
sufficient time to prepare for the change
of methodology. OCC will not
implement the rule changes until
definitive copies of an appropriate
revision of or supplement to the options
disclosure document, Characteristics
and Risks of Standardized Options, are
available for distribution.
particular Section 17A of the Act and
the rules and regulations thereunder.
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,8 that the
proposed rule change (File No. SR–
OCC–2006–20) be and hereby is
approved.
III. Discussion
Section 19(b) of the Act directs the
Commission to approve a proposed rule
change of a self-regulatory organization
if it finds that such proposed rule
change is consistent with the
requirements of the Act and the rules
and regulations thereunder applicable to
such organization.5 Section 17A(b)(3)(F)
of the Act requires that the rules of a
clearing agency be designed to promote
the prompt and accurate clearance and
settlement of securities transactions.6
The Commission finds that OCC’s rule
change is consistent with these
requirements because by accelerating
the expiration date of American-style
equity options that are adjusted to call
for a cash deliverable OCC makes
procedures for clearance and settlement
of these options more efficient and
thereby reduces unnecessary costs on
investors and persons facilitating
transactions by and acting on behalf of
investors. As such, the proposed rule
change should better enable OCC to
promote the prompt and accurate
clearance and settlement of securities
transactions.7
Reporting and Recordkeeping
Requirements Under OMB Review
IV. Conclusion
On the basis of the foregoing, the
Commission finds that the proposed
rule change is consistent with the
requirements of the Act and in
3 OCC rules currently contain a provision for
acceleration of the expiration date of European-style
equity options that have been converted to a cash
deliverable.
4 Every option contract that has an exercise price
below (in the case of a call) or above (in the case
of a put) the amount of the cash deliverable by $.01
or more will be deemed to have been exercised
immediately prior to the accelerated expiration time
unless the clearing member directs otherwise. OCC
also is making a conforming change to Rule 1106.
5 15 U.S.C. 78s(b).
6 15 U.S.C. 78q–1(b)(3)(F).
7 In approving the proposed rule change, the
Commission considered the proposal’s impact on
efficiency, competition, and capital formation. 15
U.S.C. 78c(f).
PO 00000
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For the Commission by the Division of
Market Regulation, pursuant to delegated
authority.9
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–1059 Filed 1–24–07; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
Small Business Administration.
Notice of Reporting
Requirements Submitted for OMB
Review.
AGENCY:
ACTION:
SUMMARY: Under the provisions of the
Paperwork Reduction Act (44 U.S.C.
Chapter 35), agencies are required to
submit proposed reporting and
recordkeeping requirements to OMB for
review and approval, and to publish a
notice in the Federal Register notifying
the public that the agency has made
such a submission.
DATES: Submit comments on or before
February 26, 2007. If you intend to
comment but cannot prepare comments
promptly, please advise the OMB
Reviewer and the Agency Clearance
Officer before the deadline.
Copies: Request for clearance (OMB
83–1), supporting statement, and other
documents submitted to OMB for
review may be obtained from the
Agency Clearance Officer.
ADDRESSES: Address all comments
concerning this notice to: Agency
Clearance Officer, Jacqueline White,
Small Business Administration, 409 3rd
Street, SW., 5th Floor, Washington, DC
20416; and
David_Rostker@omb.eop.gov, fax
number 202–395–7285 Office of
Information and Regulatory Affairs,
Office of Management and Budget.
FOR FURTHER INFORMATION CONTACT:
Jacqueline White, Agency Clearance
Officer, jacqueline.white@sba.gov (202)
205–7044.
SUPPLEMENTARY INFORMATION:
Title: Pro-Net.
Form No: N/A.
Frequency: On Occasion.
Description of Respondents: Small
Firms.
8 15
9 17
E:\FR\FM\25JAN1.SGM
U.S.C. 78s(b)(2).
CFR 200.30–3(a)(12).
25JAN1
Federal Register / Vol. 72, No. 16 / Thursday, January 25, 2007 / Notices
Annual Responses: 10,000.
Annual Burden: 2,500.
Title: SBA Express Information
Collection.
Form No’s: 1919, 2236, 2238, 1920SX.
Frequency: On Occasion.
Description of Respondents: Express
Lenders.
Annual Responses: 20,000.
Annual Burden: 17,500.
Title: Quarterly Loan Loss Reserve
Report and PCLP Guarantee
Request.
Form No’s: 2233, 2234A/B/C.
Frequency: On Occasion.
Description of Respondents: PCLP
Lenders.
Annual Responses: 886.
Annual Burden: 832.
Title: HUBZone Application Data
Update.
Form No: N/A.
Frequency: On Occasion.
Description of Respondents: Small
Business Concerns.
Annual Responses: 6,000.
Annual Burden: 3,000.
Title: Disaster Survey Worksheet.
Form No: 987.
Frequency: On Occasion.
Description of Respondents:
Applicants who warrant Disaster
Declaration.
Annual Responses: 2,640.
Annual Burden: 219.
Jacqueline White,
Chief, Administrative Information Branch.
[FR Doc. E7–1076 Filed 1–24–07; 8:45 am]
BILLING CODE 8025–01–P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #10678 and #10679]
Hawaii Disaster Number HI–00005
U.S. Small Business
Administration.
ACTION: Amendment 2.
ycherry on PROD1PC64 with NOTICES
AGENCY:
14:58 Jan 24, 2007
Jkt 211001
The notice
of the President’s major disaster
declaration for the State of Hawaii,
dated 10/23/2006 is hereby amended to
establish the incident period for this
disaster as beginning 10/15/2006 and
continuing through 01/15/2007.
All other information in the original
declaration remains unchanged.
SUPPLEMENTARY INFORMATION:
(Catalog of Federal Domestic Assistance
Number 59008)
Herbert L. Mitchell,
Associate Administrator for Disaster
Assistance.
[FR Doc. E7–1104 Filed 1–24–07; 8:45 am]
BILLING CODE 8025–01–P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration # 10787]
Missouri Disaster # MO–00008
(Catalog of Federal Domestic Assistance
Numbers 59002 and 59008)
AGENCY:
Herbert L. Mitchell,
Associate Administrator for Disaster
Assistance.
[FR Doc. E7–1102 Filed 1–24–07; 8:45 am]
ACTION:
BILLING CODE 8025–01–P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration # 10746]
Hawaii Disaster Number HI–00007
U.S. Small Business
Administration.
AGENCY:
ACTION:
SUMMARY: This is an amendment of the
Presidential declaration of a major
disaster for Public Assistance Only for
the State of Hawaii (FEMA–1664–DR),
dated 10/23/2006.
Incident: Kiholo Bay Earthquake.
Incident Period: 10/15/2006 and
continuing through 01/15/2007.
Effective Date: 01/15/2007.
Physical Loan Application Deadline
Date: 12/22/2006.
Submit completed loan
applications to: U.S. Small Business
Administration, Processing and
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street, SW., Suite 6050,
Washington, DC 20416.
FOR FURTHER INFORMATION CONTACT:
The notice
of the President’s major disaster
declaration for Private Non-Profit
organizations in the State of Hawaii,
dated 10/23/2006, is hereby amended to
establish the incident period for this
disaster as beginning 10/15/2006 and
continuing through 01/15/2007.
All other information in the original
declaration remains unchanged.
SUPPLEMENTARY INFORMATION:
PO 00000
Frm 00085
Fmt 4703
Sfmt 4703
U.S. Small Business
Administration
Notice.
SUMMARY: This is a Notice of the
Presidential declaration of a major
disaster for Public Assistance Only for
the State of Missouri (FEMA–1676–DR),
dated 01/15/2007.
Incident: Severe Winter Storms and
Flooding.
Incident Period: 01/12/2007 and
continuing.
Effective Date: 01/15/2007.
Physical Loan Application Deadline
Date: 03/16/2007.
Submit completed loan
applications to: U.S. Small Business
Administration, Processing and
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
ADDRESSES:
Amendment 1.
ADDRESSES:
SUMMARY: This is an amendment of the
Presidential declaration of a major
disaster for the State of Hawaii (FEMA–
1664–DR), dated 10/23/2006.
Incident: Kiholo Bay Earthquake.
Incident Period: 10/15/2006 and
continuing through 01/15/2007.
Effective Date: 01/15/2007.
Physical Loan Application Deadline
Date: 12/22/2006.
EIDL Loan Application Deadline Date:
07/23/2007.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing and
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
VerDate Aug<31>2005
A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street, SW., Suite 6050,
Washington, DC 20416.
FOR FURTHER INFORMATION CONTACT:
3467
A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street, SW., Suite 6050,
Washington, DC 20416.
FOR FURTHER INFORMATION CONTACT:
Notice is
hereby given that as a result of the
President’s major disaster declaration on
01/15/2007, Private Non-Profit
organizations that provide essential
services of a governmental nature may
file disaster loan applications at the
address listed above or other locally
announced locations.
The following areas have been
determined to be adversely affected by
the disaster:
SUPPLEMENTARY INFORMATION:
Primary Counties:
Barry, Barton, Callaway, Camden,
Christian, Cole, Crawford, Dade,
Dallas, Dent, Franklin, Gasconade,
Greene, Hickory, Jasper, Laclede,
Lawrence, Lincoln, Maries,
McDonald, Miller, Montgomery,
Newton, Osage, Phelps, Polk,
Pulaski, Saint Clair, St. Charles, St.
Louis, St. Louis (City), Stone,
Warren, Webster, Wright.
The Interest Rates are:
E:\FR\FM\25JAN1.SGM
25JAN1
Agencies
[Federal Register Volume 72, Number 16 (Thursday, January 25, 2007)]
[Notices]
[Pages 3466-3467]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-1076]
=======================================================================
-----------------------------------------------------------------------
SMALL BUSINESS ADMINISTRATION
Reporting and Recordkeeping Requirements Under OMB Review
AGENCY: Small Business Administration.
ACTION: Notice of Reporting Requirements Submitted for OMB Review.
-----------------------------------------------------------------------
SUMMARY: Under the provisions of the Paperwork Reduction Act (44 U.S.C.
Chapter 35), agencies are required to submit proposed reporting and
recordkeeping requirements to OMB for review and approval, and to
publish a notice in the Federal Register notifying the public that the
agency has made such a submission.
DATES: Submit comments on or before February 26, 2007. If you intend to
comment but cannot prepare comments promptly, please advise the OMB
Reviewer and the Agency Clearance Officer before the deadline.
Copies: Request for clearance (OMB 83-1), supporting statement, and
other documents submitted to OMB for review may be obtained from the
Agency Clearance Officer.
ADDRESSES: Address all comments concerning this notice to: Agency
Clearance Officer, Jacqueline White, Small Business Administration, 409
3rd Street, SW., 5th Floor, Washington, DC 20416; and David--
Rostker@omb.eop.gov, fax number 202-395-7285 Office of Information and
Regulatory Affairs, Office of Management and Budget.
FOR FURTHER INFORMATION CONTACT: Jacqueline White, Agency Clearance
Officer, jacqueline.white@sba.gov (202) 205-7044.
SUPPLEMENTARY INFORMATION:
Title: Pro-Net.
Form No: N/A.
Frequency: On Occasion.
Description of Respondents: Small Firms.
[[Page 3467]]
Annual Responses: 10,000.
Annual Burden: 2,500.
Title: SBA Express Information Collection.
Form No's: 1919, 2236, 2238, 1920SX.
Frequency: On Occasion.
Description of Respondents: Express Lenders.
Annual Responses: 20,000.
Annual Burden: 17,500.
Title: Quarterly Loan Loss Reserve Report and PCLP Guarantee
Request.
Form No's: 2233, 2234A/B/C.
Frequency: On Occasion.
Description of Respondents: PCLP Lenders.
Annual Responses: 886.
Annual Burden: 832.
Title: HUBZone Application Data Update.
Form No: N/A.
Frequency: On Occasion.
Description of Respondents: Small Business Concerns.
Annual Responses: 6,000.
Annual Burden: 3,000.
Title: Disaster Survey Worksheet.
Form No: 987.
Frequency: On Occasion.
Description of Respondents: Applicants who warrant Disaster
Declaration.
Annual Responses: 2,640.
Annual Burden: 219.
Jacqueline White,
Chief, Administrative Information Branch.
[FR Doc. E7-1076 Filed 1-24-07; 8:45 am]
BILLING CODE 8025-01-P