Submission for OMB Review; Comment Request, 32149-32150 [E7-11163]

Download as PDF Federal Register / Vol. 72, No. 111 / Monday, June 11, 2007 / Notices to the public for review. Information provided under Rule 477 is mandatory. The information is required on occasion. We estimate that 300 issuers will file Rule 477 submissions annually at an estimated one hour per response for a total annual burden of 300 hours. We estimate that 100% of the reporting burden is prepared by the issuer. 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. Written 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 send an 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 email to PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: June 4, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–11161 Filed 6–8–07; 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 rmajette on DSK8KYBLC1PROD with MISCELLANEOUS Extension: Rule 15c2–2, SEC File No. 270–538, OMB Control No. 3235–0598 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 (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. Proposed rule 15c2–2 (17 CFR 240.15c2–2) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) would provide investors in mutual fund shares, UIT interests and college savings plan interests with information VerDate Mar<15>2010 12:15 Mar 07, 2011 Jkt 223001 in transaction confirmations, including information about certain distributionrelated costs and certain distribution arrangements that create conflicts of interest for brokers, dealers, municipal securities dealers, and their associated persons. Proposed rule 15c2–2 specifically would require confirmation disclosure of information about loads and other distribution-related costs that directly impact the returns earned by investors in those securities. It also would require brokers, dealers and municipal securities dealers to disclose their compensation for selling those securities, and to disclose information about revenue sharing arrangements and portfolio brokerage arrangements that create conflicts of interest for them. Moreover, the proposed rule would require brokers, dealers and municipal securities dealers to inform customers about whether their salespersons or other associated persons receive extra compensation for selling certain covered securities. In addition, the Commission, the selfregulatory organizations, and other securities regulatory authorities would be able to use records of confirmations delivered pursuant to proposed rule 15c2–2 in the course of examinations, and investigations, as well as enforcement proceedings against brokers, dealers and municipal securities dealers. However, no governmental agency would regularly receive any of the information described above. Proposed rule 15c2–2 potentially would apply to all of the approximately 5,338 brokers, dealers and municipal securities dealers that are registered with the Commission and that are members of NASD. It would also potentially apply to approximately 62 additional municipal securities dealers. The staff estimates that the annual burden for complying with the requirements of proposed rule 15c2–2 would be 18.7 million hours and that the annual costs of complying with the requirements of proposed rule 15c2–2, including the printing and postal costs for generating and sending confirmations, would be $1.05 billion. We note that many of these costs and burdens, including the majority of the annual costs and burdens, would be shifted from rule 10b–10 (17 CFR 240.10b–10) to proposed rule 15c2–2. 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) PO 00000 Frm 00094 Fmt 4703 Sfmt 4703 32149 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: June 4, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–11162 Filed 6–8–07; 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 15c2–3, SEC File No. 270–539, OMB Control No. 3235–0599 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 (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. Proposed rule 15c2–3 (17 CFR 240.15c2–3) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) would require brokers, dealers and municipal securities dealers to provide point of sale disclosure to investors prior to effecting transactions in mutual fund shares, UIT interests and college savings plan interests. The disclosure would provide investors with targeted material information about distributionrelated costs and remuneration that lead to conflicts of interest for their brokers, dealers or municipal securities dealers. The collection of information under proposed rule 15c2–3 would require some of the disclosure that is also required under rule 15c2–2. However, in contrast to the confirmation disclosure required under proposed rule 15c2–2, which a customer will not receive in writing until after a E:\ERIC\11JNN1.SGM 11JNN1 rmajette on DSK8KYBLC1PROD with MISCELLANEOUS 32150 Federal Register / Vol. 72, No. 111 / Monday, June 11, 2007 / Notices transaction has been effected, the point of sale disclosure that would be required under rule 15c2–3 would specifically require that investors be provided with information that they can use at the time they determine whether to enter into a transaction to purchase one of the covered securities. In addition, the Commission, the selfregulatory organizations, and other securities regulatory authorities would be able to use records of point of sale disclosure delivered pursuant to proposed rule 15c2–3 in the course of examinations, and investigations, as well as enforcement proceedings against brokers, dealers and municipal securities dealers. However, no governmental agency would regularly receive any of the information described above. Proposed rule 15c2–2 potentially would apply to all of the approximately 5,338 brokers, dealers and municipal securities dealers that are registered with the Commission and that are members of NASD. It would also potentially apply to approximately 62 additional municipal securities dealers. It is important to note, however, that the confirmation is a customary document used by the industry. The Commission staff estimates that the annual burden for complying with the requirements of proposed rule 15c2– 3 would be 18.7 million hours and that the annual costs of complying with the requirements of proposed rule 15c2–3, including call center services, and recordkeeping and compliance costs, would be $40 million. 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 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. VerDate Mar<15>2010 12:15 Mar 07, 2011 Jkt 223001 Dated: June 4, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–11163 Filed 6–8–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549 Extension: Rule 17a–1, SEC File No. 270–244, OMB Control No. 3235–0208 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 17a–1 (17 CFR 240.17a–1) under the Securities Exchange Act of 1934 (the ‘‘Act’’) (15 U.S.C. 78a et seq.) requires that all national securities exchanges, national securities associations, registered clearing agencies, and the Municipal Securities Rulemaking Board keep on file for a period of five years, two years in an accessible place, all documents that they make or receive respecting their self-regulatory activities, and that such documents be available for examination by the Commission. The Commission staff estimates that the average number of hours necessary for compliance with the requirements of Rule 17a–1 is 50 hours per year. There are 22 entities required to comply with the rule: 10 national securities exchanges, 1 national securities association, 10 registered clearing agencies, and the Municipal Securities Rulemaking Board. In addition, 3 national securities exchanges noticeregistered pursuant to Section 6(g) of the Act are required to preserve records of determinations made under Rule 3a55– 1, which the Commission staff estimates will take 1 hour per exchange, for a total of 3 hours. Accordingly, the Commission staff estimates that the total number of hours necessary to comply with the requirements of Rule 17a–1 is 1,103 hours. The average cost per hour is $50. Therefore, the total cost of PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 compliance for the respondents is $55,150. 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 shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be 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. Comments should be directed to: 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 within 60 days of this notice. Dated: June 4, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–11164 Filed 6–8–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meetings Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Pub. L. 94–409, that the Securities and Exchange Commission will hold the following meetings during the week of June 11, 2007: Open Meetings will be held on Tuesday, June 12, 2007 at 9 a.m. and Wednesday, June 13, 2007 at 10 a.m., in the Auditorium, Room L–002. A Closed Meeting will be held on Thursday, June 14, 2007 at 10 a.m. Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the Closed Meeting. Certain staff members who have an interest in the matters may also be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (7), (9)(B), and (10) and 17 CFR 200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the scheduled matters at the Closed Meeting. E:\ERIC\11JNN1.SGM 11JNN1

Agencies

[Federal Register Volume 72, Number 111 (Monday, June 11, 2007)]
[Notices]
[Pages 32149-32150]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-11163]


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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 15c2-3, SEC File No. 270-539, OMB Control No. 3235-0599

    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 (``OMB'') a request for extension of the previously approved 
collection of information discussed below.
    Proposed rule 15c2-3 (17 CFR 240.15c2-3) under the Securities 
Exchange Act of 1934 (15 U.S.C. 78a et seq.) would require brokers, 
dealers and municipal securities dealers to provide point of sale 
disclosure to investors prior to effecting transactions in mutual fund 
shares, UIT interests and college savings plan interests. The 
disclosure would provide investors with targeted material information 
about distribution-related costs and remuneration that lead to 
conflicts of interest for their brokers, dealers or municipal 
securities dealers. The collection of information under proposed rule 
15c2-3 would require some of the disclosure that is also required under 
rule 15c2-2. However, in contrast to the confirmation disclosure 
required under proposed rule 15c2-2, which a customer will not receive 
in writing until after a

[[Page 32150]]

transaction has been effected, the point of sale disclosure that would 
be required under rule 15c2-3 would specifically require that investors 
be provided with information that they can use at the time they 
determine whether to enter into a transaction to purchase one of the 
covered securities.
    In addition, the Commission, the self-regulatory organizations, and 
other securities regulatory authorities would be able to use records of 
point of sale disclosure delivered pursuant to proposed rule 15c2-3 in 
the course of examinations, and investigations, as well as enforcement 
proceedings against brokers, dealers and municipal securities dealers. 
However, no governmental agency would regularly receive any of the 
information described above.
    Proposed rule 15c2-2 potentially would apply to all of the 
approximately 5,338 brokers, dealers and municipal securities dealers 
that are registered with the Commission and that are members of NASD. 
It would also potentially apply to approximately 62 additional 
municipal securities dealers. It is important to note, however, that 
the confirmation is a customary document used by the industry.
    The Commission staff estimates that the annual burden for complying 
with the requirements of proposed rule 15c2-3 would be 18.7 million 
hours and that the annual costs of complying with the requirements of 
proposed rule 15c2-3, including call center services, and recordkeeping 
and compliance costs, would be $40 million.
    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 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: June 4, 2007.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-11163 Filed 6-8-07; 8:45 am]
BILLING CODE 8010-01-P