Submission for OMB Review; Comment Request, 52399-52400 [E7-18081]
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Federal Register / Vol. 72, No. 177 / Thursday, September 13, 2007 / Notices
Dates
October 1, 2007 to September 30,
2012.
3. Applicant: William R. Fraser, Polar
Oceans Research Group, P.O. Box 368,
Sheridan, MT 59749. Permit
Application No. 2008–022.
Activity for Which Permit Is Requested
Take. The applicant plans to salvage
seabird specimens that have died of
natural causes. The specimens will be
used for educational purposes at
teaching and research institutions.
Location
Palmer Station, Marguerite Bay and
vicinity.
Dates
October 1, 2007 to September 30,
2012.
Nadene G. Kennedy,
Permit Officer, Office of Polar Programs.
[FR Doc. E7–18020 Filed 9–12–07; 8:45 am]
BILLING CODE 7555–01–P
OFFICE OF MANAGEMENT AND
BUDGET
Public Availability of Fiscal Year 2006
Agency Inventories Under the Federal
Activities Inventory Reform Act
Office of Management and
Budget, Executive Office of the
President.
ACTION: Notice of Public Availability of
Agency Inventory of Activities That Are
Not Inherently Governmental and of
Activities That Are Inherently
Governmental.
AGENCY:
SUMMARY: The Federal Activities
Inventory Reform (FAIR) Act, Public
Law 105–270, requires agencies to
develop inventories each year of
activities performed by their employees
that are not inherently governmental—
i.e., inventories of commercial activities.
The FAIR Act further requires OMB to
review the inventories in consultation
with the agencies and publish a notice
of public availability in the Federal
Register after the consultation process is
completed. In accordance with the FAIR
52399
Act, OMB is publishing this notice to
announce the availability of inventories
from the agencies listed below. These
inventories identify both commercial
activities and activities that are
inherently governmental.
This is the third and final release of
the FAIR Act inventories for FY 2006.
Interested parties who disagree with the
agency’s initial judgment may challenge
the inclusion or the omission of an
activity on the list of activities that are
not inherently governmental within 30
working days and, if not satisfied with
this review, may appeal to a higher level
within the agency.
The Office of Federal Procurement
Policy has made available a FAIR Act
User’s Guide through its Internet site:
https://www.whitehouse.gov/omb/
procurement/fair-index.html. This
User’s Guide will help interested parties
review FY 2006 FAIR Act inventories.
Paul A. Denett,
Administrator, Office of Federal Procurement
Policy.
THIRD FAIR ACT RELEASE FY 2006
Arlington National Cemetery ....................................................................
Armed Forces Retirement Home .............................................................
Department of Housing and Urban Development (IG) ............................
Federal Communications Commission .....................................................
Holocaust Museum ...................................................................................
International Trade Commission ..............................................................
National Endowment for the Humanities ..................................................
National Transportation Safety Board ......................................................
Office of Management and Budget ..........................................................
Office of National Drug Control Policy .....................................................
Railroad Retirement Board (IG) ...............................................................
Small Business Administration (IG) ..........................................................
U.S. Patent and Trademark Office ...........................................................
[FR Doc. E7–18028 Filed 9–12–07; 8:45 am]
BILLING CODE 3110–01–P
SECURITIES AND EXCHANGE
COMMISSION
ebenthall on PRODPC61 with NOTICES
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 6h–1, SEC File No. 270–497, OMB
Control No. 3235–0555.
VerDate Aug<31>2005
15:29 Sep 12, 2007
Jkt 211001
Mr. Rory Smith, (703) 607–8561 https://www.arlingtoncemetery.org.
Mr. Steven G. McManus, (202) 730–3533 https://www.afrh.gov.
Mr. Michael Kirby, (202) 708–0614 x8190 https://www.hudoig.gov.
Ms. Bonita Tingley, (202) 418–0293 https://www.fcc.gov/omd/reports.html.
Ms. Helen Shepherd, (202) 314–0396 https://www.ushmm.org/notices/
fair_act/2006.xls.
Mr. Stephen McLaughlin, (202) 205–3131 https://www.usitc.gov.
Mr. Barry Maynes, (202) 606–8233 https://www.neh.gov.
Ms. Carol Belovitch, (202) 314–6232 https://www.ntsb.gov/info/
fair_act_2006.htm.
Ms. Lisa Ward, (202) 395–5670 https://www.whitehouse.gov/omb/procurement/fair/notices_avail.html.
Mr.
Daniel
Petersen,
(202)
395–6745
https://
www.whitehousedrugpolicy.gov.
Mr. William Tebbe, (312) 751–4350 https://www.rrb.gov/mep/oig.asp.
Mr. Robert Fisher, (202) 205–6583 www.sba.gov/ig/OIG_Fair.html.
Mr. Jack Buie, (571) 272–6283 https://www.uspto.gov.
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.
The Securities Exchange Act of 1934
(15 U.S.C. 78a) (‘‘Act’’) requires national
securities exchanges and national
securities associations that trade
security futures products to establish
listing standards that, among other
things, require: (1) Trading in such
products not be readily susceptible to
price manipulation; and (2) the market
trading a security futures product to
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Fmt 4703
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have in place procedures to coordinate
trading halts with the listing market for
the security or securities underlying the
security futures product. Rule 6h–1
under the Act (17 CFR 240.6h–1)
implements these statutory
requirements and requires national
securities exchanges and national
securities associations that trade
security futures products: (1) To use
final settlement prices for cash-settled
security futures that fairly reflect the
opening price of the underlying security
or securities; and (2) to have rules
providing that the trading of a security
futures product based on a single
security shall be halted at all times that
a regulatory halt has been instituted for
E:\FR\FM\13SEN1.SGM
13SEN1
52400
Federal Register / Vol. 72, No. 177 / Thursday, September 13, 2007 / Notices
the underlying security, and that the
trading of a security futures product
based on a narrow-based security index
shall be halted at all times that a
regulatory halt has been instituted for
one or more of the underlying securities
that constitute 50 percent or more of the
market capitalization of the narrowbased security index.
It is estimated that approximately
seventeen respondents will incur an
average burden of ten hours per year to
comply with this rule, for a total burden
of 170 hours. At an average cost per
hour of approximately $197, the
resultant total cost of compliance for the
respondents is $33,490 per year
(seventeen entities × ten hours/entity ×
$197/hour = $33,490).
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:
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 within 30 days of
this notice.
Dated: September 6, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–18081 Filed 9–12–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56376)]
ebenthall on PRODPC61 with NOTICES
Order Granting a Conditional
Exemption to Broker-Dealers From
Requirements in Rules 15c3–1 And
15c3–3 Under the Securities Exchange
Act of 1934 To Promptly Transmit
Customer Checks for the Purchase of
Deferred Variable Annuity Contracts
September 7, 2007.
I. Background
The Securities and Exchange
Commission (the ‘‘Commission’’) today
approved new National Association of
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Jkt 211001
Securities Dealers (‘‘NASD’’) 1 Rule
2821.2 NASD Rule 2821 sets forth
recommendation requirements
(including a suitability obligation),
principal review and approval
requirements, and supervisory and
training requirements with respect to
transactions in deferred variable
annuities.
According to the NASD, it designed
the rule to address significant and
persistent sales-practice problems in
sales of deferred variable annuities. One
component of Rule 2821 is a
requirement that registered principals
perform a comprehensive and rigorous
review of the transactions. Specifically,
Rule 2821(c) states, in part, that: ‘‘Prior
to transmitting a customer’s application
for a deferred variable annuity to the
issuing insurance company for
processing, but no later than seven
business days after the customer signs
the application, a registered principal
shall review and determine whether he
or she approves of the purchase or
exchange of the deferred variable
annuity.’’
Many broker-dealers are subject to
lower net capital requirements under
Securities Exchange Act of 1934
(‘‘Exchange Act’’) Rule 15c3–1 3 and are
exempt from the requirement to
establish and fund a customer reserve
account under Rule 15c3–3 4 because
they do not carry customer funds or
securities. Some of these broker-dealers
receive checks from customers that are
made out to third parties. Pursuant to
Rules 15c3–1 and 15c3–3, a brokerdealer is not deemed to be carrying
customer funds if it ‘‘promptly
transmits’’ the checks to the third
1 On July 26, 2007, the Commission approved a
proposed rule change filed by NASD to amend
NASD’s Certificate of Incorporation to reflect its
name change to Financial Industry Regulatory
Authority, Inc., or FINRA, in connection with the
consolidation of the member firm regulatory
functions of NASD and NYSE Regulation, Inc. See
Exchange Act Release No. 56146 (July 26, 2007), 72
FR 42190 (Aug. 1, 2007).
2 See Exchange Act Release No. 56375 (Sep. 7,
2007).
3 17 CFR 240.15c3–1. The purpose of Rule 15c3–
1 is to ensure that a broker or dealer at all times
has sufficient liquid assets to promptly satisfy the
claims of customers if the broker or dealer goes out
of business.
4 17 CFR 240.15c3–3. The purpose of Rule 15c3–
3 is to protect customers by assuring that brokerdealers do not use customers’ funds or securities to
fund the broker-dealer’s operations. Among other
things, Rule 15c3–3 requires that a broker-dealer
make a periodic computation of the amount of
money it is holding that constitutes customer funds
or funds obtained from the use of customer
securities. If this amount exceeds the amount of
money customers owe the firm, the broker-dealer
must deposit the excess in a special reserve bank
account for the exclusive benefit of the firm’s
customers.
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Sfmt 4703
parties.5 For purposes of Rules 15c3–1
and 15c3–3, the term ‘‘promptly
transmit’’ means when ‘‘such
transmission or delivery is made no
later than noon of the next business day
after the receipt of such funds or
securities.’’ 6
According to the NASD, a brokerdealer may need to hold customer
checks for more than one business day
in order to comply with Rule 2821.
II. Discussion
The Commission has decided to
exempt broker-dealers from any
additional requirements of Rules 15c3–
1 or 15c3–3 due solely to a failure to
promptly transmit a check made
payable to an insurance company for the
purchase of a deferred variable annuity
product by noon of the business day
following the date the broker-dealer
receives the check from the customer,
provided:
(i) The transaction is subject to the
principal review requirements of NASD
Rule 2821 and a registered principal has
reviewed and determined whether he or
she approves of the purchase or
exchange of the deferred variable
annuity within seven business days in
accordance with that rule;
(ii) the broker-dealer promptly
transmits the check no later than noon
of the business day following the date
a registered principal reviews and
determines whether he or she approves
of the purchase or exchange of the
deferred variable annuity; and
(iii) the broker-dealer maintains a
copy of each such check and creates a
record of the date the check was
received from the customer and the date
the check was transmitted to the
insurance company if approved, or
returned to the customer if rejected.
The purpose of Rule 15c3–1 is to
ensure that a broker or dealer at all
times has sufficient liquid assets to
promptly satisfy the claims of customers
and other creditors if the broker or
dealer goes out of business. One
purpose of Rule 15c3–3 is to protect
customers by assuring that brokerdealers do not use customers’ funds or
securities to fund the broker-dealer’s
operations. The reasons these rules
require that a broker-dealer promptly
forward checks is to reduce the risk that
a broker-dealer or an associated person
5 When it amended the net capital rule in 1992,
the Commission stated that a broker-dealer shall not
be deemed to receive funds from customers if it
receives checks made payable to certain entities
other than itself (such as another broker-dealer or
an escrow agent) and promptly transmits such
funds. Exchange Act Release No. 31511 (Nov. 24,
1992), 57 FR 56973 (Dec. 2, 1992).
6 See Exchange Act Release No. 31511 (Nov. 24,
1992), note 11, and 17 CFR 240.15c3–1(c)(9).
E:\FR\FM\13SEN1.SGM
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[Federal Register Volume 72, Number 177 (Thursday, September 13, 2007)]
[Notices]
[Pages 52399-52400]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-18081]
=======================================================================
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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 Investor Education and Advocacy, Washington, DC
20549-0213.
Extension:
Rule 6h-1, SEC File No. 270-497, OMB Control No. 3235-0555.
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.
The Securities Exchange Act of 1934 (15 U.S.C. 78a) (``Act'')
requires national securities exchanges and national securities
associations that trade security futures products to establish listing
standards that, among other things, require: (1) Trading in such
products not be readily susceptible to price manipulation; and (2) the
market trading a security futures product to have in place procedures
to coordinate trading halts with the listing market for the security or
securities underlying the security futures product. Rule 6h-1 under the
Act (17 CFR 240.6h-1) implements these statutory requirements and
requires national securities exchanges and national securities
associations that trade security futures products: (1) To use final
settlement prices for cash-settled security futures that fairly reflect
the opening price of the underlying security or securities; and (2) to
have rules providing that the trading of a security futures product
based on a single security shall be halted at all times that a
regulatory halt has been instituted for
[[Page 52400]]
the underlying security, and that the trading of a security futures
product based on a narrow-based security index shall be halted at all
times that a regulatory halt has been instituted for one or more of the
underlying securities that constitute 50 percent or more of the market
capitalization of the narrow-based security index.
It is estimated that approximately seventeen respondents will incur
an average burden of ten hours per year to comply with this rule, for a
total burden of 170 hours. At an average cost per hour of approximately
$197, the resultant total cost of compliance for the respondents is
$33,490 per year (seventeen entities x ten hours/entity x $197/hour =
$33,490).
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: 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 within 30
days of this notice.
Dated: September 6, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-18081 Filed 9-12-07; 8:45 am]
BILLING CODE 8010-01-P
