Proposed Collection; Comment Request, 11406 [E7-4461]

Download as PDF 11406 Federal Register / Vol. 72, No. 48 / Tuesday, March 13, 2007 / Notices cprice-sewell on PROD1PC66 with NOTICES size ($345.5 billion 6 divided by $126,202),7 for a total of 2,737,675 clients. Additionally, an average number of new accounts opened each year can be estimated by dividing the average annual increase in account assets in 2003 through 2006, by the average account size ($57.7 billion divided by $126,202), for an average annual number of new accounts of 457,204.8 The Commission staff estimates that each program sponsor spends approximately 1.25 hours annually in preparing, conducting and/or reviewing interviews for each new client; 30 minutes annually preparing, conducting and/or reviewing annual interviews for each continuing client; and one hour preparing and mailing quarterly account activity statements, including the notice to update information to each client. Based on the foregoing, the Commission staff therefore estimates the total annual burden of the rule’s paperwork requirements for all program sponsors to be 4,449,415.5 hours. This represents a decrease of 2,063,087 hours from the prior estimate of 6,512,502.5 hours. The decrease results from a change in the method of computation for the number of clients that participate in these investment advisory programs. Previously, we have computed the number of clients based on the minimum account requirement for participation in these programs. For this estimate we computed the number of clients based on the industry average account size in these programs resulting in a decrease in the estimated number of clients in these investment advisory programs. The estimate of average burden hours is made solely for the purposes of the Paperwork Reduction Act. The estimate 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 burdens of the collections of information; (c) ways to enhance the quality, utility, and clarity of the 6 See Cerulli Associates, The Cerulli Edge: Managed Accounts Edition, Advisors Issue 10 (3d quarter 2006). 7 Id. at 13. 8 The requirement for initial client contact and evaluation is not a recurring obligation, but only occurs when the account is opened. The estimated annual hourly burden is based on the average number of new accounts opened each year. VerDate Aug<31>2005 14:58 Mar 12, 2007 Jkt 211001 information collected; and (d) ways to minimize the burdens 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, Virginia, 22312; or send an e-mail to: PRA_Mailbox@sec.gov. Dated: March 5, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–4459 Filed 3–12–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copy Available From: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Extension: Form N–5, SEC File No. 270–172, OMB Control No. 3235–0169. 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 (‘‘OMB’’) for extension and approval. Form N–5 (17 CFR 239.24 and 274.5)—Registration Statement of Small Business Investment Companies Under the Securities Act of 1933 (15 U.S.C. 77a et seq.) and the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) Form N–5 is the integrated registration statement form adopted by the Commission for use by a small business investment company which has been licensed as such under the Small Business Investment Act of 1958 and has been notified by the Small Business Administration that the company may submit a license application, to register its securities under the Securities Act of 1933 (‘‘Securities Act’’), and to register as an investment company under section 8 of the Investment Company Act of 1940 (‘‘Investment Company PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 Act’’). The purpose of registration under the Securities Act is to ensure that investors are provided with material information concerning securities offered for public sale that will permit investors to make informed decisions regarding such securities. The Commission staff reviews the registration statements for the adequacy and accuracy of the disclosure contained therein. Without Form N–5, the Commission would be unable to carry out the requirements of the Securities Act and the Investment Company Act for registration of small business investment companies. The respondents to the collection of information are small business investment companies seeking to register under the Investment Company Act and to register their securities for sale to the public under the Securities Act. The estimated number of respondents is one and the proposed frequency of response is annually. The estimate of the total annual reporting burden of the collection of information is approximately 352 hours per respondent, for a total of 352 hours. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection 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, Virginia, 22312; or send an e-mail to: PRA_Mailbox@sec.gov. Dated: March 5, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–4461 Filed 3–12–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copy Available From: Securities and Exchange E:\FR\FM\13MRN1.SGM 13MRN1

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[Federal Register Volume 72, Number 48 (Tuesday, March 13, 2007)]
[Notices]
[Page 11406]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-4461]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copy Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549.

Extension:
    Form N-5, SEC File No. 270-172, OMB Control No. 3235-0169.

    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 (``OMB'') for extension and approval.
    Form N-5 (17 CFR 239.24 and 274.5)--Registration Statement of Small 
Business Investment Companies Under the Securities Act of 1933 (15 
U.S.C. 77a et seq.) and the Investment Company Act of 1940 (15 U.S.C. 
80a-1 et seq.) Form N-5 is the integrated registration statement form 
adopted by the Commission for use by a small business investment 
company which has been licensed as such under the Small Business 
Investment Act of 1958 and has been notified by the Small Business 
Administration that the company may submit a license application, to 
register its securities under the Securities Act of 1933 (``Securities 
Act''), and to register as an investment company under section 8 of the 
Investment Company Act of 1940 (``Investment Company Act''). The 
purpose of registration under the Securities Act is to ensure that 
investors are provided with material information concerning securities 
offered for public sale that will permit investors to make informed 
decisions regarding such securities. The Commission staff reviews the 
registration statements for the adequacy and accuracy of the disclosure 
contained therein. Without Form N-5, the Commission would be unable to 
carry out the requirements of the Securities Act and the Investment 
Company Act for registration of small business investment companies. 
The respondents to the collection of information are small business 
investment companies seeking to register under the Investment Company 
Act and to register their securities for sale to the public under the 
Securities Act. The estimated number of respondents is one and the 
proposed frequency of response is annually. The estimate of the total 
annual reporting burden of the collection of information is 
approximately 352 hours per respondent, for a total of 352 hours.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information will 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden of the collection of information; (c) ways to enhance the 
quality, utility, and clarity of the information collected; and (d) 
ways to minimize the burden of the collection 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, Virginia, 22312; or send an e-mail to: PRA--
Mailbox@sec.gov.

    Dated: March 5, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-4461 Filed 3-12-07; 8:45 am]
BILLING CODE 8010-01-P