Submission for OMB Review; Comment Request, 19986 [E7-7495]

Download as PDF sroberts on PROD1PC70 with NOTICES 19986 Federal Register / Vol. 72, No. 76 / Friday, April 20, 2007 / Notices offers on such matters as the maximum amount of shares to be repurchased (the maximum repurchase amount may range from 5% to 25% of outstanding shares). The requirement that copies be sent to the Commission is intended to enable the Commission to monitor the fund’s compliance with the notification requirement. The requirement that the shareholder notification be attached to Form N–23c–3 is intended to ensure that the fund provides basic information necessary for the Commission to process the notification and to monitor the fund’s use of repurchase offers. The requirement that the fund describe its current policy on repurchase offers and the results of recent offers in the annual shareholder report is intended to provide shareholders current information about the fund’s repurchase policies and its recent experience. The requirement that the board approve and review written procedures designed to maintain portfolio liquidity is intended to ensure that the fund has enough cash or liquid securities to meet its repurchase obligations, and that written procedures are available for review by shareholders and examination by the Commission. The requirement that the fund file advertisements and sales literature as if it were an open-end investment company is intended to facilitate the review of these materials by the Commission or the NASD to prevent incomplete, inaccurate, or misleading disclosure about the special characteristics of a closed-end fund that makes periodic repurchase offers. Compliance with the collection of information requirements of the rule and form is mandatory only for those funds that rely on the rule in order to repurchase shares of the fund. The information provided to the Commission on Form N–23c–3 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. The Commission staff estimates that approximately 34 funds make use of rule 23c–3, and that on average a fund spends approximately 126 hours annually in complying with the requirements of the rule and Form N– 23c–3. The Commission staff therefore estimates the total annual burden of the rule’s and form’s paperwork requirements to be 4284 hours. Please direct general comments regarding the above information to the following persons: (i) Desk Officer for the Securities and Exchange Commission, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 VerDate Aug<31>2005 18:52 Apr 19, 2007 Jkt 211001 or email 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. E7–7491 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 19b–4(e) and Form 19b–4(e); SEC File No. 270–447; OMB Control No. 3235– 0504. 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 requests for extension of the previously approved collections of information discussed below. The Code of Federal Regulation citation to this collection of information is 17 CFR 240.19b–4(e) under the Securities Exchange Act of 1934 (17 U.S.C. 78a et seq.) (the ‘‘Act’’). Rule 19b–4(e) permits a selfregulatory organization (‘‘SRO’’) to immediately list and trade a new derivative securities product so long as such product is in compliance with the criteria of Rule 19b–4(e) under the Act. However, in order for the Commission to maintain an accurate record of all new derivative securities products traded through the facilities of SROs and to determine whether an SRO has properly availed itself of the permission granted by Rule 19b–4(e), it is necessary that the SRO maintain, on-site, a copy of Form 19b–4(e) under the Act. Rule 19b–4(e) requires SROs to file a summary form, Form 19b–4(e), and thereby notify the Commission, within five business days after the commencement of trading a new derivative securities product. In addition, the Commission reviews SRO PO 00000 Frm 00111 Fmt 4703 Sfmt 4703 compliance with Rule 19b–4(e) through its routine inspections of the SROs. The collection of information is designed to allow the Commission to maintain an accurate record of all new derivative securities products traded through the facilities of SROs and to determine whether an SRO has properly availed itself of the permission granted by Rule 19b–4(e). The respondents to the collection of information are self-regulatory organizations (as defined by the Act), including national securities exchanges and national securities associations. Fourteen respondents file an average total of 50 responses per year, which corresponds to an estimated annual response burden of 50 hours. At an average cost per burden hour of $239.50, the resultant total related cost of compliance for these respondents is $11,975 per year (50 burden hours multiplied by $239.50/hour = $11,975). Compliance with Rule 19b–4(e) is mandatory. Information received in response to Rule 19b–4(e) shall not be kept confidential; the information collected is public information. 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. Comments should be directed to (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. Dated: April 16, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–7495 Filed 4–19–07; 8:45 am] BILLING CODE 8010–01–P E:\FR\FM\20APN1.SGM 20APN1

Agencies

[Federal Register Volume 72, Number 76 (Friday, April 20, 2007)]
[Notices]
[Page 19986]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-7495]


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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 19b-4(e) and Form 19b-4(e); SEC File No. 270-447; OMB 
Control No. 3235-0504.

    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 
requests for extension of the previously approved collections of 
information discussed below. The Code of Federal Regulation citation to 
this collection of information is 17 CFR 240.19b-4(e) under the 
Securities Exchange Act of 1934 (17 U.S.C. 78a et seq.) (the ``Act'').
    Rule 19b-4(e) permits a self-regulatory organization (``SRO'') to 
immediately list and trade a new derivative securities product so long 
as such product is in compliance with the criteria of Rule 19b-4(e) 
under the Act. However, in order for the Commission to maintain an 
accurate record of all new derivative securities products traded 
through the facilities of SROs and to determine whether an SRO has 
properly availed itself of the permission granted by Rule 19b-4(e), it 
is necessary that the SRO maintain, on-site, a copy of Form 19b-4(e) 
under the Act. Rule 19b-4(e) requires SROs to file a summary form, Form 
19b-4(e), and thereby notify the Commission, within five business days 
after the commencement of trading a new derivative securities product. 
In addition, the Commission reviews SRO compliance with Rule 19b-4(e) 
through its routine inspections of the SROs.
    The collection of information is designed to allow the Commission 
to maintain an accurate record of all new derivative securities 
products traded through the facilities of SROs and to determine whether 
an SRO has properly availed itself of the permission granted by Rule 
19b-4(e).
    The respondents to the collection of information are self-
regulatory organizations (as defined by the Act), including national 
securities exchanges and national securities associations.
    Fourteen respondents file an average total of 50 responses per 
year, which corresponds to an estimated annual response burden of 50 
hours. At an average cost per burden hour of $239.50, the resultant 
total related cost of compliance for these respondents is $11,975 per 
year (50 burden hours multiplied by $239.50/hour = $11,975).
    Compliance with Rule 19b-4(e) is mandatory. Information received in 
response to Rule 19b-4(e) shall not be kept confidential; the 
information collected is public information.
    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.
    Comments should be directed to (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.

    Dated: April 16, 2007.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-7495 Filed 4-19-07; 8:45 am]
BILLING CODE 8010-01-P