Submission for OMB Review; Comment Request, 4291-4292 [E8-1159]

Download as PDF Federal Register / Vol. 73, No. 16 / Thursday, January 24, 2008 / Notices 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, Virginia 22312 or send an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted within 60 days of this notice. Dated: January 15, 2008. Florence E. Harmon, Deputy Secretary. [FR Doc. E8–1157 Filed 1–23–08; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon written request, copies available from: U.S. Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. jlentini on PROD1PC65 with NOTICES Extension: Rule 104: OMB Control No. 3235– 0465; SEC File No. 270–411. 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 104 of Regulation M (17 CFR 242.104)—Stabilizing and Other Activities in Connection with an Offering. Rule 104 permits stabilizing by a distribution participant during a distribution so long as the distribution participant discloses information to the market and investors. This rule requires disclosure in offering materials of the potential stabilizing transactions and that the distribution participant inform the market when a stabilizing bid is made. It also requires the distribution participants (i.e., the syndicate manager) to maintain information regarding syndicate covering transactions and VerDate Aug<31>2005 20:35 Jan 23, 2008 Jkt 214001 penalty bids and disclose such information to the SRO. There are approximately 795 respondents per year that require an aggregate total of 159 hours to comply with this rule. Each respondent makes an estimated 1 annual response. Each response takes approximately 0.20 hours (12 minutes) to complete. Thus, the total compliance burden per year is 159 burden hours. The total compliance cost for the respondents is approximately $8,943.75, resulting in a cost of compliance for the respondent per response of approximately $11.25 (i.e., $8,943.75 / 795 responses). Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimates 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, Virginia 22312 or send an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted within 60 days of this notice. Dated: January 15, 2008. Florence E. Harmon, Deputy Secretary. [FR Doc. E8–1158 Filed 1–23–08; 8:45 am] BILLING CODE 8011–01–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 206(3)–3T; SEC File No. 270–571; OMB Control No. 3235–0630. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 350 et seq.), the Securities PO 00000 Frm 00120 Fmt 4703 Sfmt 4703 4291 and Exchange Commission (the ‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for extension and approval of the collections of information discussed below. Temporary rule 206(3)–3T (17 CFR 275.206(3)–3T) under the Investment Advisers Act of 1940 (15 U.S.C. 80b–1 et seq.) is entitled: ‘‘Temporary rule for principal trades with certain advisory clients.’’ The temporary rule provides investment advisers who are registered with the Commission as broker-dealers an alternative means to meet the requirements of section 206(3) of the Advisers Act (15 U.S.C. 80b–6(3)) when they act in a principal capacity in transactions with certain of their advisory clients. The temporary rule, and its attendant paperwork burdens, will expire and no longer be effective on December 31, 2009. Temporary rule 206(3)–3T permits dually-registered advisers to satisfy the Advisers Act’s principal trading restrictions by: (i) Providing written, prospective disclosure regarding the conflicts arising from principal trades; (ii) obtaining written, revocable consent from the client prospectively authorizing the adviser to enter into principal transactions; (iii) making oral or written disclosure and obtaining the client’s consent before each principal transaction; (iv) sending to the client confirmation statements disclosing the capacity in which the adviser has acted; and (v) delivering to the client an annual report itemizing the principal transactions. The Commission staff estimates that approximately 380 investment advisers make use of rule 206(3)–3T, and that on average an investment adviser spends approximately 1,301 hours annually in complying with the requirements of the rule. The Commission staff therefore estimates the total annual burden of the rule’s paperwork requirements to be approximately 494,440 hours. Rule 206(3)–3T does not require recordkeeping or record retention. The collection of information requirements under the rule are required to obtain a benefit. The information collected pursuant to the rule is not required to be filed with the Commission, but rather takes the form of disclosures to, and responses from, clients. Accordingly, these filings are not kept confidential. To the extent advisers include any of the information required by the rule in a filing, such as Form ADV, the 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 E:\FR\FM\24JAN1.SGM 24JAN1 4292 Federal Register / Vol. 73, No. 16 / Thursday, January 24, 2008 / Notices 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. Dated: January 14, 2008. Florence E. Harmon, Deputy Secretary. [FR Doc. E8–1159 Filed 1–23–08; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: U.S. Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. jlentini on PROD1PC65 with NOTICES Extension: Rule 101: OMB Control No. 3235– 0464; SEC File No. 270–408. 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 101 of Regulation M (17 CFR 242.101)—Activities by Distribution Participants Rule 101 prohibits distribution participants from purchasing activities at specified times during a distribution of securities. Persons otherwise covered by these rules may seek to use several applicable exceptions such as a calculation of the average daily trading volume of the securities in distribution, the maintenance of policies regarding information barriers between their affiliates, and the maintenance of a written policy regarding general compliance with Regulation M for de minimus transactions. VerDate Aug<31>2005 20:35 Jan 23, 2008 Jkt 214001 There are approximately 1,634 respondents per year that require an aggregate total of 31,355 hours to comply with this rule. Each respondent makes an estimated 1 annual response. Each response takes approximately 19.19 hours to complete. Thus, the total compliance burden per year is 31,355 burden hours. The total compliance cost for the respondents is approximately $1,763,718.75, resulting in a cost of compliance for the respondent per response of approximately $1,079.39 (i.e., $1,763,718.75/1,634 responses). Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimates 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, Virginia 22312 or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted within 60 days of this notice. Dated: January 17, 2008. Nancy M. Morris, Secretary. [FR Doc. E8–1179 Filed 1–23–08; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–57160; File No. SR–Amex– 2007–20] Self-Regulatory Organizations; American Stock Exchange LLC; Order Approving Proposed Rule Change as Modified by Amendment No. 1 Related to Amending Complex Orders Procedures January 16, 2008. I. Introduction On February 15, 2007, the American Stock Exchange LLC (‘‘Amex’’ or ‘‘Exchange’’) filed with the Securities PO 00000 Frm 00121 Fmt 4703 Sfmt 4703 and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to amend complex orders procedures to allow the adjustment of the options leg of the order if market conditions prevent the execution of the non-option leg at the price agreed upon. On November 28, 2007, Amex filed Amendment No. 1 to the proposed rule change. The proposed rule change was published for comment in the Federal Register on December 12, 2007.3 The Commission received no comment letters regarding the proposal. This order approves the proposed rule change, as modified by Amendment No. 1. II. Description The Exchange proposes to amend Rule 953–ANTE (b)(ii) to provide that if the stock leg or security futures leg of the order cannot be executed at the price agreed upon due to market conditions, the price of a trade representing the execution of the options leg of the transaction may be adjusted to be consistent with the net debit or credit price of the original order, if market conditions in any of the non-Exchange markets prevent the execution of the non-option leg at the price agreed upon. In addition, the Commission notes that Amex has represented that the repricing of the options leg must be consistent with Amex’s priority and parity rules. If the transaction does not satisfy the Exchange’s priority and parity rules by the end of the trading day, then the transaction would be cancelled. III. Discussion The Commission has carefully reviewed the proposed rule change and the Commission finds that the proposed rule change is consistent with the requirements of Section 6 of the Act 4 and the rules and regulations thereunder applicable to a national securities exchange.5 In particular, the Commission finds that the proposal is consistent with Section 6(b)(5) of the Act,6 because it is designed to promote just and equitable principles of trade, to remove impediments to and perfect the 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 56901 (December 5, 2007), 72 FR 70625. 4 15 U.S.C. 78f. 5 In approving this proposed rule change the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 6 15 U.S.C. 78f(b)(5). 2 17 E:\FR\FM\24JAN1.SGM 24JAN1

Agencies

[Federal Register Volume 73, Number 16 (Thursday, January 24, 2008)]
[Notices]
[Pages 4291-4292]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-1159]


-----------------------------------------------------------------------

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 206(3)-3T; SEC File No. 270-571; OMB Control No. 
3235-0630.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 350 et seq.), the Securities and Exchange Commission 
(the ``Commission'') has submitted to the Office of Management and 
Budget (``OMB'') a request for extension and approval of the 
collections of information discussed below.
    Temporary rule 206(3)-3T (17 CFR 275.206(3)-3T) under the 
Investment Advisers Act of 1940 (15 U.S.C. 80b-1 et seq.) is entitled: 
``Temporary rule for principal trades with certain advisory clients.'' 
The temporary rule provides investment advisers who are registered with 
the Commission as broker-dealers an alternative means to meet the 
requirements of section 206(3) of the Advisers Act (15 U.S.C. 80b-6(3)) 
when they act in a principal capacity in transactions with certain of 
their advisory clients. The temporary rule, and its attendant paperwork 
burdens, will expire and no longer be effective on December 31, 2009.
    Temporary rule 206(3)-3T permits dually-registered advisers to 
satisfy the Advisers Act's principal trading restrictions by: (i) 
Providing written, prospective disclosure regarding the conflicts 
arising from principal trades; (ii) obtaining written, revocable 
consent from the client prospectively authorizing the adviser to enter 
into principal transactions; (iii) making oral or written disclosure 
and obtaining the client's consent before each principal transaction; 
(iv) sending to the client confirmation statements disclosing the 
capacity in which the adviser has acted; and (v) delivering to the 
client an annual report itemizing the principal transactions.
    The Commission staff estimates that approximately 380 investment 
advisers make use of rule 206(3)-3T, and that on average an investment 
adviser spends approximately 1,301 hours annually in complying with the 
requirements of the rule. The Commission staff therefore estimates the 
total annual burden of the rule's paperwork requirements to be 
approximately 494,440 hours.
    Rule 206(3)-3T does not require recordkeeping or record retention. 
The collection of information requirements under the rule are required 
to obtain a benefit. The information collected pursuant to the rule is 
not required to be filed with the Commission, but rather takes the form 
of disclosures to, and responses from, clients. Accordingly, these 
filings are not kept confidential. To the extent advisers include any 
of the information required by the rule in a filing, such as Form ADV, 
the 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

[[Page 4292]]

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 e-mail to: 
PRA--Mailbox@sec.gov. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: January 14, 2008.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E8-1159 Filed 1-23-08; 8:45 am]
BILLING CODE 8011-01-P