Submission for OMB Review; Comment Request, 8912 [E8-2874]
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Federal Register / Vol. 73, No. 32 / Friday, February 15, 2008 / Notices
clauses in new subadvisory contracts in
order for funds and subadvisers to be
able to rely on the exemptions in rule
17a–10. Because these additional
clauses are identical to the clauses that
a fund would need to insert in their
subadvisory contracts to rely on rules
10f–3, 12d3–1, and 17e–1, and because
we believe that funds that use one such
rule generally use all of these rules, we
apportion this 3 hour time burden
equally to all four rules. Therefore, we
estimate that the burden allocated to
rule 17a–10 for this contract change
would be 0.75 hours.5 Assuming that all
600 funds that enter into new
subadvisory contracts each year make
the modification to their contract
required by the rule, we estimate that
the rule’s contract modification
requirement will result in 450 burden
hours annually, with an associated cost
of approximately $131,400.6
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 of 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.
Dated: February 7, 2008.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8–2873 Filed 2–14–08; 8:45 am]
rwilkins on PROD1PC63 with NOTICES
BILLING CODE 8011–01–P
on Management & Professional Earnings in the
Securities Industry 2006, modified to account for an
1800-hour work-year and multiplied by 5.35 to
account for bonuses, firm size, employee benefits
and overhead.
5 This estimate is based on the following
calculation (3 hours ÷ 4 rules = .75 hours).
6 These estimates are based on the following
calculations: (0.75 hours × 600 portfolios = 450
burden hours); ($292 per hour × 450 hours =
$131,400 total cost).
VerDate Aug<31>2005
15:58 Feb 14, 2008
Jkt 214001
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 17a–4; OMB Control No. 3235–0279;
SEC File No. 270–198.
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 for
Rule 17a–4 (17 CFR 240.17a–4).
Rule 17a–4 requires approximately
5,791 active, registered exchange
members, brokers and dealers (‘‘brokerdealers’’) to preserve for prescribed
periods of time certain records required
to be made by Rule 17a–3 (17 CFR
240.17a–3) and other Commission rules,
and other kinds of records which firms
make or receive in the ordinary course
of business. Rule 17a–4 also permits
broker-dealers to employ, under certain
conditions, electronic storage media to
maintain these required records. The
records required to be maintained under
Rule 17a–4 are used by examiners and
other representatives of the Commission
to determine whether broker-dealers are
in compliance with, and to enforce their
compliance with, the Commission’s
rules.
The staff estimates that the average
number of hours necessary for each
broker-dealer to comply with Rule 17a–
4 is 254 hours annually. Thus, the total
burden for broker-dealers is 1,470,914
hours annually. The staff believes that
compliance personnel would be charged
with ensuring compliance with
Commission regulation, including Rule
17a–4. The staff estimates that the
hourly salary of a compliance manager
is $245 per hour.1 Based upon these
numbers, the total cost of compliance
for 5,791 respondents is the dollar cost
is approximately $360.4 million
(1,470,914 yearly hours × $245).
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.
1 This figure is based on the SIFMA Report on
Office Salaries In the Securities Industry 2006
(Compliance Manager).
PO 00000
Frm 00069
Fmt 4703
Sfmt 4703
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: February 11, 2008.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8–2874 Filed 2–14–08; 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 701; OMB Control No. 3235–0522;
SEC File No. 270–306.
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 the
request for extension of the previously
approved collection of information
discussed below.
Rule 701(17 CFR 230.701) under the
Securities Act of 1933 (15 U.S.C. 77a et
seq.) requires issuers conducting
employee benefit plan offerings in
excess of $5 million in reliance on the
rule to provide the employees covered
by the plan with risk and financial
statement disclosures. The purpose of
Rule 701 is to ensure that a basic level
of information is available to employees
and others when substantial amounts of
securities are issued in compensatory
arrangements. Information provided
under Rule 701 is mandatory.
Approximately 300 companies annually
rely on the Rule 701 exemption and it
takes 2 hours per response. We estimate
that 25% of the 2 hours per response (.5
hours) is prepared by the company for
a total annual reporting burden of 150
E:\FR\FM\15FEN1.SGM
15FEN1
]]>Agencies
[Federal Register Volume 73, Number 32 (Friday, February 15, 2008)]
[Notices]
[Page 8912]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-2874]
-----------------------------------------------------------------------
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 17a-4; OMB Control No. 3235-0279; SEC File No. 270-198.
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 for Rule 17a-4 (17 CFR 240.17a-4).
Rule 17a-4 requires approximately 5,791 active, registered exchange
members, brokers and dealers (``broker-dealers'') to preserve for
prescribed periods of time certain records required to be made by Rule
17a-3 (17 CFR 240.17a-3) and other Commission rules, and other kinds of
records which firms make or receive in the ordinary course of business.
Rule 17a-4 also permits broker-dealers to employ, under certain
conditions, electronic storage media to maintain these required
records. The records required to be maintained under Rule 17a-4 are
used by examiners and other representatives of the Commission to
determine whether broker-dealers are in compliance with, and to enforce
their compliance with, the Commission's rules.
The staff estimates that the average number of hours necessary for
each broker-dealer to comply with Rule 17a-4 is 254 hours annually.
Thus, the total burden for broker-dealers is 1,470,914 hours annually.
The staff believes that compliance personnel would be charged with
ensuring compliance with Commission regulation, including Rule 17a-4.
The staff estimates that the hourly salary of a compliance manager is
$245 per hour.\1\ Based upon these numbers, the total cost of
compliance for 5,791 respondents is the dollar cost is approximately
$360.4 million (1,470,914 yearly hours x $245).
---------------------------------------------------------------------------
\1\ This figure is based on the SIFMA Report on Office Salaries
In the Securities Industry 2006 (Compliance Manager).
---------------------------------------------------------------------------
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: February 11, 2008.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8-2874 Filed 2-14-08; 8:45 am]
BILLING CODE 8011-01-P
