Submission for OMB Review; Comment Request, 51271-51272 [E7-17576]

Download as PDF Federal Register / Vol. 72, No. 172 / Thursday, September 6, 2007 / Notices mstockstill on PROD1PC66 with NOTICES Extension: Regulation A; OMB Control No. 3235–0286; SEC File No. 270–110 (Forms 1–A and 2–A). SECURITIES AND EXCHANGE COMMISSION 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 this request for extension of the previously approved collection of information discussed below. 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 use of proceeds in Regulation A offerings. All information is provided to the public for review. The information required is filed on occasion and is mandatory. We estimate approximately 100 issuers file Forms 1– A and 2–A annually. We estimate that Form 1–A takes 608 hours to prepare, Form 2–A takes 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 621 hours per response (465.75 hours) is prepared by the company for a total annual burden of 46,575 hours (465.75 x 100 responses). An agency may 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 Alexander_T._Hunt@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. August 30, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–17574 Filed 9–5–07; 8:45 am] BILLING CODE 8010–01–P VerDate Aug<31>2005 18:25 Sep 05, 2007 Jkt 211001 Submission for OMB Review; Comment Request Upon written request, copies available from: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Form N–1A; SEC File No. 270–21; OMB Control No. 3235–0307. 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. Form N–1A (17 CFR 239.15A and 274.11A) is the form used by open-end management investment companies (‘‘funds’’) 1 under the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) (‘‘Investment Company Act’’) and/or to register their securities under the Securities Act of 1933 (15 U.S.C. 77a et seq.) (‘‘Securities Act’’). Section 5 of the Securities Act (15 U.S.C. 77e) requires the filing of a registration statement prior to the offer of securities to the public and that the statement be effective before any securities are sold, and Section 8 of the Investment Company Act (15 U.S.C. 80a–8) requires a fund to register as an investment company. Form N–1A also permits funds to provide investors with a prospectus and a statement of additional information (‘‘SAI’’) covering essential information about the fund when it makes an initial or additional offering of its securities. Section 5(b) of the Securities Act requires that investors be provided with a prospectus containing the information required in a registration statement prior to the sale or at the time of confirmation or delivery of the securities. The form also may be 1 Management investment companies typically issue shares representing an undivided proportionate interest in a changing pool of securities, and include open-end and closed-end companies. See T. Lemke, G. Lins, A. Smith III, REGULATION OF INVESTMENT COMPANIES, Vol. I, ch. 4, § 4.04, at 4–5 (2002). An open-end company is a management company that is offering for sale or has outstanding any redeemable securities of which it is the issuer. A closed-end company is any management company other than an open-end company. See Section 5 of the Investment Company Act (15 U.S.C. 80a–5). Openend companies generally offer and sell new shares to the public on a continuous basis. Closed-end companies generally engage in traditional underwritten offerings of a fixed number of shares and, in most cases, do not offer their shares to the public on a continuous basis. PO 00000 Frm 00060 Fmt 4703 Sfmt 4703 51271 used by the Commission in its regulatory review, inspection, and policy-making roles. The Commission estimates that there are 77 initial registration statements and 2,320 post-effective amendments to initial registration statements filed on Form N–1A annually and that the average number of portfolios referenced in each initial filing and post-effective amendment is 4.9. The Commission further estimates that the hour burden for preparing and filing a post-effective amendment on Form N–1A is 111 hours per portfolio. The total annual hour burden for preparing and filing posteffective amendments is 1,261,848 hours (2,320 post-effective amendments × 4.9 portfolios × 111 hours per portfolio). The estimated annual hour burden for preparing and filing initial registration statements is 313,336 hours (77 initial registration statements × 4.9 portfolios × 830.47 hours per portfolio). The total annual hour burden for Form N–1A, therefore, is estimated to be 1,575,184 hours (1,261,848 hours + 313,336 hours). The information collection requirements imposed by Form N–1A are mandatory. Responses to the collection of information 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. 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 or e-mail to: Alexander_T._Hunt@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. August 27, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–17575 Filed 9–5–07; 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 E:\FR\FM\06SEN1.SGM 06SEN1 51272 Federal Register / Vol. 72, No. 172 / Thursday, September 6, 2007 / Notices Commission, Office of Investor Education and Advocac, Washington, DC 20549–0213. Extension: Regulation S; OMB Control No. 3235–0357; SEC File No. 270–315. 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 this request for extension of the previously approved collection of information discussed below. Regulation S ( 17 CFR 230.901 through 230.905) includes rules governing offers and sales of securities made outside the United States without registration under the Securities Act of 1933 (15 U.S.C. 77a et seq.). The purpose of Regulation S is to provide clarification of the extent to which Section 5 of the Securities Act applies to sales and re-sales of securities outside of the United States. Regulation S is assigned one burden hour for administrative convenience. 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 Alexander_T._Hunt@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. August 30, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–17576 Filed 9–5–07; 8:45 am] BILLING CODE 8010–01–P mstockstill on PROD1PC66 with NOTICES SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor VerDate Aug<31>2005 18:25 Sep 05, 2007 Jkt 211001 Education and Advocacy, Washington, DC 20549–0213. Approval of Existing Information Collection: Rule 17a–8; SEC File No. 270–225; OMB Control No. 3235–0235. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501–3520), 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. Rule 17a–8 (17 CFR 270.17a–8) under the Investment Company Act of 1940 (the ‘‘Act’’) (15 U.S.C. 80a) is entitled ‘‘Mergers of affiliated companies.’’ Rule 17a–8 exempts certain mergers and similar business combinations (‘‘mergers’’) of affiliated registered investment companies (‘‘funds’’) from prohibitions under section 17(a) of the Act (15 U.S.C. 80a–17(a)) on purchases and sales between a fund and its affiliates. The rule requires fund directors to consider certain issues and to record their findings in board minutes. The rule requires the directors of any fund merging with an unregistered entity to approve procedures for the valuation of assets received from that entity. These procedures must provide for the preparation of a report by an independent evaluator that sets forth the fair value of each such asset for which market quotations are not readily available. The rule also requires a fund being acquired to obtain approval of the merger transaction by a majority of its outstanding voting securities, except in certain situations, and requires any surviving fund to preserve written records describing the merger and its terms for six years after the merger (the first two in an easily accessible place). The average annual burden of meeting the requirements of rule 17a–8 is estimated to be 7 hours for each fund. The Commission staff estimates that each year approximately 920 funds rely on the rule. The estimated total average annual burden for all respondents therefore is 6,440 hours. This estimate represents an increase of 2,240 hours from the prior estimate of 4,200 hours. The increase results from an increase in the estimated number of mergers of affiliated funds and fund portfolios. The average cost burden of preparing a report by an independent evaluator in a merger with an unregistered entity is estimated to be $15,000. The average net cost burden of obtaining approval of a merger transaction by a majority of a fund’s outstanding voting securities is PO 00000 Frm 00061 Fmt 4703 Sfmt 4703 estimated to be $75,000. The Commission staff estimates that each year approximately 15 mergers with unregistered entities occur and approximately 22 funds hold shareholder votes that would not otherwise have held a shareholder vote to comply with state law. The total annual cost burden of meeting these requirements is estimated to be $1,875,000 The estimates of average burden hours and average cost burdens are made solely for the purposes of the Paperwork Reduction Act, and are not derived from a comprehensive or even a representative survey or study. 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 OMB control number. 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 or e-mail to: Alexander_T._Hunt@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. August 30, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–17583 Filed 9–5–07; 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 Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 17f–4; SEC File No. 270–232; OMB Control No. 3235–0225. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501–3520), the Securities and Exchange Commission (the ‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for extension of the E:\FR\FM\06SEN1.SGM 06SEN1

Agencies

[Federal Register Volume 72, Number 172 (Thursday, September 6, 2007)]
[Notices]
[Pages 51271-51272]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-17576]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon written request, copies available from: Securities and Exchange

[[Page 51272]]

Commission, Office of Investor Education and Advocac, Washington, DC 
20549-0213.

Extension:
    Regulation S; OMB Control No. 3235-0357; SEC File No. 270-315.

    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 this request for extension of the previously approved 
collection of information discussed below.
    Regulation S ( 17 CFR 230.901 through 230.905) includes rules 
governing offers and sales of securities made outside the United States 
without registration under the Securities Act of 1933 (15 U.S.C. 77a et 
seq.). The purpose of Regulation S is to provide clarification of the 
extent to which Section 5 of the Securities Act applies to sales and 
re-sales of securities outside of the United States. Regulation S is 
assigned one burden hour for administrative convenience.
    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 e-mail to Alexander--T.--
Hunt@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.

    August 30, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-17576 Filed 9-5-07; 8:45 am]
BILLING CODE 8010-01-P