Proposed Collection; Comment Request, 36529 [E7-12783]
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Federal Register / Vol. 72, No. 127 / Tuesday, July 3, 2007 / Notices
Commission, Office of Filings and
Information Services, Washington, DC
20549.
jlentini on PROD1PC65 with NOTICES
Extension: Rule 206(4)–2; SEC File No. 270–
217; OMB Control No. 3235–0241.
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 collection of
information to the Office of
Management and Budget (‘‘OMB’’) for
extension and approval.
Rule 206(4)–2 (17 CFR 275.206(4)–2)
under the Investment Advisers Act of
1940 (15 U.S.C. 80b–1 et seq.) governs
the custody of funds or securities of
clients by Commission-registered
investment advisers. Rule 206(4)–2
requires each investment adviser that
has custody of client funds or securities
to maintain those client funds or
securities with a broker-dealer, bank or
other ‘‘qualified custodian.’’ The rule
also requires the adviser to promptly
notify the clients as to the place and
manner of custody, to send quarterly
account statements to each client whose
assets are in the adviser’s custody, and
to have an independent public
accountant conduct an annual surprise
examination of the custodied assets. If
the qualified custodian sends monthly
account statements directly to an
adviser’s clients, however, the adviser is
relieved from sending its own account
statements and undergoing an annual
surprise examination. The rule exempts
advisers from the rule with respect to
clients that are registered investment
companies. The rule also exempts
advisers to limited partnerships and
limited liability companies from the
account statement delivery and annual
surprise examination requirements if
the limited partnerships or limited
liability companies they advise are
subject to annual audit by an
independent public accountant.
Advisory clients use this information
to confirm proper handling of their
accounts. The Commission’s staff uses
the information obtained through this
collection in its enforcement, regulatory
and examination programs. Without the
information collected under the rule,
the Commission would be less efficient
and effective in its programs and clients
would not have information valuable for
monitoring an adviser’s handling of
their accounts.
The respondents to this information
collection are investment advisers
registered with the Commission and
have custody of clients’ funds or
VerDate Aug<31>2005
17:57 Jul 02, 2007
Jkt 211001
securities. We estimate that 3352
advisers would be subject to the
information collection burden under
rule 206(4)–2. The number of responses
under rule 206(4)–2 will vary
considerably depending on the number
of clients for which an adviser has
custody of funds or securities. It is
estimated that the average number of
responses annually for each respondent
would be 247.794, and the average time
of .5 hour per response would remain
the same. The annual aggregate burden
for all respondents to the requirements
of rule 206(4)–2 is estimated to be
415,303 hours.
The estimated average burden hours
are made solely for purposes of the
Paperwork Reduction Act and are not
derived from a comprehensive or even
representative survey or study of the
cost of Commission rules and forms.
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.
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, VA 22312; or send an email to: PRA_Mailbox@sec.gov.
June 25, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–12781 Filed 7–2–07; 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: Regulation A; OMB Control No.
PO 00000
Frm 00111
Fmt 4703
Sfmt 4703
36529
3235–0286; SEC File No. 270–110
(Forms 1–A and 2–A).
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.
Regulation A (17 CFR 230.251
through 230.263) provides an exemption
from registration under the Securities
Act of 1933 (15 U.S.C. 77a et seq.) for
certain limited securities offerings by
issuers who do not otherwise file
reports with the Commission. Form 1–
A is an offering statement filed under
Regulation A. Form 2–A is used to
report sales and used of proceeds in
Regulation A offerings. We estimate that
approximately 100 issuers file Forms 1–
A and 2–A annually. We estimated that
Form 1–A takes approximately 608
hours to prepare, Form 2–A takes
approximately 12 hours to prepare, and
Regulation A takes one administrative
hour to review for a total of 621 hours
per response. We estimate that 75% of
the 621 hours per response (465.75
hours) is prepared by the company for
a total annual burden of 46,575 hours
(465.75 hours per response × 100
responses).
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 imposed by 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, VA 22312; or send an email to: PRA_Mailbox@sec.gov.
June 25, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–12783 Filed 7–2–07; 8:45 am]
BILLING CODE 8010–01–P
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03JYN1
]]>Agencies
[Federal Register Volume 72, Number 127 (Tuesday, July 3, 2007)]
[Notices]
[Page 36529]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-12783]
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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: Regulation A; OMB Control No. 3235-0286; SEC File No.
270-110 (Forms 1-A and 2-A).
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.
Regulation A (17 CFR 230.251 through 230.263) provides an exemption
from registration under the Securities Act of 1933 (15 U.S.C. 77a et
seq.) for certain limited securities offerings by issuers who do not
otherwise file reports with the Commission. Form 1-A is an offering
statement filed under Regulation A. Form 2-A is used to report sales
and used of proceeds in Regulation A offerings. We estimate that
approximately 100 issuers file Forms 1-A and 2-A annually. We estimated
that Form 1-A takes approximately 608 hours to prepare, Form 2-A takes
approximately 12 hours to prepare, and Regulation A takes one
administrative hour to review for a total of 621 hours per response. We
estimate that 75% of the 621 hours per response (465.75 hours) is
prepared by the company for a total annual burden of 46,575 hours
(465.75 hours per response x 100 responses).
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 imposed by 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, VA 22312; or
send an e-mail to: PRA--Mailbox@sec.gov.
June 25, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-12783 Filed 7-2-07; 8:45 am]
BILLING CODE 8010-01-P
