Submission for OMB Review; Comment Request, 19985 [E7-7490]

Download as PDF Federal Register / Vol. 72, No. 76 / Friday, April 20, 2007 / Notices 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: April 12, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–7488 Filed 4–19–07; 8:45 am] BILLING CODE 8010–01–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 17a–12; SEC File No. 270–442; OMB Control No. 3235–0498. 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. also enable the Commission to review the business activities of OTC derivatives dealers and to anticipate, where possible, how these dealers may be affected by significant economic events. The staff estimates that that the average amount of time necessary to prepare and file the information required by Rule 17a–12 is 180 hours per OTC derivatives dealer annually: an average of twenty hours preparing each of four quarterly reports and an additional 100 hours for the annual audit. Five entities are presently registered as OTC derivatives dealers and the staff does not expect that any additional OTC derivatives dealers will become registered within the next three years. Thus the total burden is estimated to be 900 hours annually (180 times 5 equals 900). 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 send 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. Dated: April 16, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–7490 Filed 4–19–07; 8:45 am] sroberts on PROD1PC70 with NOTICES • Rule17a–12, Reports To Be Made by Certain OTC Derivatives Dealers BILLING CODE 8010–01–P Rule17a–12 (17 CFR 240.17a–12) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) requires OTC derivatives dealers to file quarterly Financial and Operational Combined Uniform Single Reports (‘‘FOCUS’’ reports) on Part IIB of Form X–17A–5,1 the basic document for reporting the financial and operational condition of OTC derivatives dealers. Rule 17a–12 also requires that OTC derivatives dealers file audited financial statements annually. The reports required under Rule 17a–12 provide the Commission with information used to monitor the operations of OTC derivatives dealers and to enforce their compliance with the Commission’s rules. These reports SECURITIES AND EXCHANGE COMMISSION 1 Form X–17A–5 (17 CFR 249.617). VerDate Aug<31>2005 18:52 Apr 19, 2007 Jkt 211001 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 23c–3 and Form N–23c–3; SEC File No. 270–373; OMB Control No. 3235– 0422. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 350 et. seq.), the Securities and Exchange Commission (the ‘‘Commission’’) has submitted to the PO 00000 Frm 00110 Fmt 4703 Sfmt 4703 19985 Office of Management and Budget (‘‘OMB’’) a request for extension and approval of the collections of information discussed below. Rule 23c–3 (17 CFR 270.23c–3) under the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) is entitled: ‘‘Repurchase of Securities of Closed-End Companies.’’ The rule permits certain closed-end investment companies (‘‘closed-end funds’’ or ‘‘funds’’) periodically to offer to repurchase from shareholders a limited number of shares at net asset value. The rule includes several reporting and recordkeeping requirements. The fund must send shareholders a notification that contains specified information each time the fund makes a repurchase offer (on a quarterly, semi-annual, or annual basis, or for certain funds, on a discretionary basis not more often than every two years). The fund also must file copies of the shareholder notification with the Commission (electronically through the Commission’s Electronic Data Gathering, Analysis, and Retrieval System (‘‘EDGAR’’)) attached to Form N–23c–3 (17 CFR 274.221), a cover sheet that provides limited information about the fund and the type of offer the fund is making.1 The fund must describe in its annual report to shareholders the fund’s policy concerning repurchase offers and the results of any repurchase offers made during the reporting period. The fund’s board of directors must adopt written procedures designed to ensure that the fund’s investment portfolio is sufficiently liquid to meet its repurchase obligations and other obligations under the rule. The board periodically must review the composition of the fund’s portfolio and change the liquidity procedures as necessary. The fund also must file copies of advertisements and other sales literature with the Commission as if it were an open-end investment company subject to section 24 of the Investment Company Act (15 U.S.C. 80a–24) and the rules that implement section 24.2 The requirement that the fund send a notification to shareholders of each offer is intended to ensure that a fund provides material information to shareholders about the terms of each offer, which may differ from previous 1 Form N–23c–3 requires the fund to state its registration number, its full name and address, the date of the accompanying shareholder notification, and the type of offer being made (periodic, discretionary, or both). 2 Rule 24b–3 under the Investment Company Act (17 CFR 270.24b–3), however, would generally exempt the fund from that requirement when the materials are filed instead with the NASD, as nearly always occurs under NASD procedures, which apply to the underwriter of every fund. E:\FR\FM\20APN1.SGM 20APN1

Agencies

[Federal Register Volume 72, Number 76 (Friday, April 20, 2007)]
[Notices]
[Page 19985]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-7490]


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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 17a-12; SEC File No. 270-442; OMB Control No. 3235-0498.

    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.

 Rule17a-12, Reports To Be Made by Certain OTC Derivatives 
Dealers

    Rule17a-12 (17 CFR 240.17a-12) under the Securities Exchange Act of 
1934 (15 U.S.C. 78a et seq.) requires OTC derivatives dealers to file 
quarterly Financial and Operational Combined Uniform Single Reports 
(``FOCUS'' reports) on Part IIB of Form X-17A-5,\1\ the basic document 
for reporting the financial and operational condition of OTC 
derivatives dealers. Rule 17a-12 also requires that OTC derivatives 
dealers file audited financial statements annually. The reports 
required under Rule 17a-12 provide the Commission with information used 
to monitor the operations of OTC derivatives dealers and to enforce 
their compliance with the Commission's rules. These reports also enable 
the Commission to review the business activities of OTC derivatives 
dealers and to anticipate, where possible, how these dealers may be 
affected by significant economic events.
---------------------------------------------------------------------------

    \1\ Form X-17A-5 (17 CFR 249.617).
---------------------------------------------------------------------------

    The staff estimates that that the average amount of time necessary 
to prepare and file the information required by Rule 17a-12 is 180 
hours per OTC derivatives dealer annually: an average of twenty hours 
preparing each of four quarterly reports and an additional 100 hours 
for the annual audit. Five entities are presently registered as OTC 
derivatives dealers and the staff does not expect that any additional 
OTC derivatives dealers will become registered within the next three 
years. Thus the total burden is estimated to be 900 hours annually (180 
times 5 equals 900).
    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 send 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.

    Dated: April 16, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-7490 Filed 4-19-07; 8:45 am]
BILLING CODE 8010-01-P