Proposed Collection; Comment Request, 9369-9370 [E8-3109]

Download as PDF Federal Register / Vol. 73, No. 34 / Wednesday, February 20, 2008 / Notices rwilkins on PROD1PC63 with NOTICES approximately 232,448,548 responses. We estimate that the total annual reporting burden for Rule 173 is approximately 2,324,485 hours (.01 hours per response × 232,448,548 responses). Rule 433 (17 CFR 230.433) governs the use and filing of free writing prospectuses under the Securities Act of 1933 (15 U.S.C. 77a et seq.). The purpose of Rule 433 is to reduce restrictions on communications that companies can make to investors during a registered offering, while still maintaining a high level of investor protection. A free writing prospectus meeting the conditions of Rule 433(d)(1) must be filed with the Commission and is publicly available. We estimate that it takes approximately 1.3 burden hours per response to prepare a free writing prospectus and that the information is filed by 2,906 companies approximately 1.25 times a year for a total of approximately 3,633 responses. We estimate that 25% of the 1.3 burden hours per response (.32 hours) is prepared by the company for total annual reporting burden of approximately 1,163 hours (.32 hours × 3,633 responses). 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 person: (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. Dated: February 12, 2008. Florence E. Harmon, Deputy Secretary. [FR Doc. E8–3041 Filed 2–19–08; 8:45 am] BILLING CODE 8011–01–P VerDate Aug<31>2005 16:47 Feb 19, 2008 Jkt 214001 SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 27d–2; SEC File No. 270–500; OMB Control No. 3235–0566. 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 (the ‘‘Commission’’) is soliciting comments on the collections of information under the Investment Company Act of 1940 (15 U.S.C. 80a) (‘‘Act’’) summarized below. The Commission plans to submit these collections of information to the Office of Management and Budget for approval. Rule 27d–2 (17 CFR 270.27d–2) is entitled ‘‘Insurance Company Undertaking in Lieu of Segregated Trust Account.’’ Rule 27d–1 (17 CFR 270.27d– 1) 1 under the Act requires the depositor or principal underwriter for an issuer of periodic payment plans to deposit funds into a segregated trust account to provide assurance of its ability to fulfill its refund obligations under sections 27(d) and 27(f).2 Rule 27d–2 provides an exemption from rule 27d–1 under the Act for depositors or principal underwriters for the issuers of periodic payments plans. In order to comply with the rule: (i) The depositor or principal underwriter must secure from an insurance company a written guarantee of the refund requirements; (ii) the insurance company must satisfy certain financial criteria; and (iii) the depositor or principal underwriter must file as an exhibit to the issuer’s registration statement, a copy of the written undertaking, an annual statement that the insurance company 1 The information collection requirements for rule 27d–1 and Form N–27D–1 are covered in a separate Federal Register notice under OMB Control No. 3235–0560. 2 The rule sets forth minimum reserve amounts and guidelines for the management and disbursement of the assets in the account. Rule 27d–1(j) directs depositors and principal underwriters annually to make an accounting of their segregated trust accounts on Form N–27D–1, which is filed with the Commission. The form requires depositors and principal underwriters to report deposits to a segregated trust account, including those made pursuant to paragraphs (c) and (e) of the rule. Withdrawals pursuant to paragraph (f) of the rule also must be reported. In addition, the form solicits information regarding the minimum amount required to be maintained under paragraphs (d) and (e) of rule 27d–1. PO 00000 Frm 00097 Fmt 4703 Sfmt 4703 9369 has met the requisite financial criteria on a monthly basis, and an annual audited balance sheet. Rules 27d–1 and 27d–2, which were explicitly authorized by statute, provide assurance that depositors and principal underwriters of issuers have access to sufficient cash to meet the demands of certificate holders who reconsider their decisions to invest in a periodic payment plan. The information collection requirements in rules 27d–1 and 27d–2 enable the Commission to monitor compliance with reserve rules. Only one registered investment company has issued a new periodic payment plan certificate within the past 18 months, and the principal underwriter or depositor for this sole issuer relies on the exemption in rule 27d–2. The respondent makes approximately three responses per year.3 The insurance company provides the written undertaking, annual statement, and certified balance sheet at no cost to the respondent. The staff estimates that the respondent spends approximately one hour per year filing the required documents from the insurance company on EDGAR. Thus, we estimate that the annual burden is approximately 1 hour. The staff believes that rule 27d–2 does not impose any cost burdens other than those arising from the hour burdens discussed above. The estimates of average burden hours and costs 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 of the costs of Commission rules and forms.4 Complying with the collection of information requirements of rule 27d–2 is mandatory for depositors or principal underwriters of issuers of periodic payment plans who rely on the rule for an exemption from complying with rule 27d–1 and filing Form N–27D–1 (17 CFR 274.127d–1). The information provided pursuant to rule 27d–2 is public and, therefore, 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 OMB control number. 3 The three responses are: (i) obtaining and filing the written undertaking or an amendment to the undertaking, (ii) filing the insurance company’s annual statement that the financial conditions were satisfied, and (iii) filing the insurance company’s certified balance sheet. 4 These estimates are based on telephone interviews between the Commission staff and representatives of depositors or principal underwriters of periodic payment plan issuers. E:\FR\FM\20FEN1.SGM 20FEN1 9370 Federal Register / Vol. 73, No. 34 / Wednesday, February 20, 2008 / Notices Written comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the Commission, including whether the information has practical utility; (b) the accuracy of the Commission’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 14, 2008. Florence E. Harmon, Deputy Secretary. [FR Doc. E8–3109 Filed 2–19–08; 8:45 am] Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number 10–182 on the subject line. BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–57322; File No. 10–182] BATS Exchange, Inc.; Notice of Filing of Application and Amendment No. 1 Thereto for Registration as a National Securities Exchange Under Section 6 of the Securities Exchange Act of 1934 rwilkins on PROD1PC63 with NOTICES February 13, 2008. On November 8, 2007, BATS Exchange, Inc. (‘‘BATS Exchange’’) submitted to the Securities and Exchange Commission (‘‘Commission’’) a Form 1 application under the Securities Exchange Act of 1934 (‘‘Exchange Act’’), seeking registration as a national securities exchange under Section 6 of the Exchange Act. On February 13, 2008, BATS Exchange submitted Amendment No. 1 to its Form 1. The Commission is publishing this notice to solicit comments on BATS Exchange’s Form 1, as amended. The Commission will take these comments into consideration in making its determination about whether to grant BATS Exchange’s request to be registered as a national securities exchange. The Commission shall grant such registration if it finds that the requirements of the Exchange Act and the rules and regulations thereunder VerDate Aug<31>2005 16:47 Feb 19, 2008 Jkt 214001 with respect to BATS Exchange are satisfied.1 BATS Exchange’s Form 1 provides detailed information on how it proposes to satisfy the requirements of the Exchange Act. In general, BATS Exchange will operate a fully automated electronic book for orders to buy or sell securities with a continuous, automated matching function. Liquidity will be derived from orders to buy and orders to sell submitted to BATS Exchange electronically by BATS Exchange members from remote locations. BATS Exchange will not have a trading floor, nor will there be exchange specialists or market makers. BATS Exchange’s Form 1 is available at the Commission’s Public Reference Room and www.sec.gov. Interested persons are invited to submit written data, views, and arguments concerning BATS Exchange’s Form 1, including whether BATS Exchange’s application is consistent with the Exchange Act. Comments may be submitted by any of the following methods: Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, Station Place, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number 10–182. This file number should be included on the subject line if e-mail is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (https://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to BATS Exchange’s Form 1 filed with the Commission, and all written communications relating to the application between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for inspection and copying in the Commission’s Public Reference Room, 100 F Street, NE., Washington, DC 20549, on official business days 1 15 PO 00000 U.S.C. 78s(a). Frm 00098 Fmt 4703 between the hours of 10 a.m. and 3 p.m. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number 10–182 and should be submitted on or before April 7, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.2 Florence E. Harmon, Deputy Secretary. [FR Doc. E8–3082 Filed 2–19–08; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Pub. L. 94–409, that the Securities and Exchange Commission will hold the following meeting during the week of February 18, 2008: A Closed Meeting will be held on Thursday, February 21, 2008 at 10:45 a.m. Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the Closed Meeting. Certain staff members who have an interest in the matters may also be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(5), (7), (9)(B), and (10) and 17 CFR 200.402(a)(5), (7), 9(ii) and (10), permit consideration of the scheduled matters at the Closed Meeting. Commissioner Casey, as duty officer, voted to consider the items listed for the closed meeting in closed session. The subject matter of the Closed Meeting scheduled for Thursday, February 21, 2008 will be: Formal orders of investigation; Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings of an enforcement nature; Resolution of litigation claims; and A litigation matter. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been 2 17 Sfmt 4703 E:\FR\FM\20FEN1.SGM CFR 200.30–3(a)(71)(i). 20FEN1

Agencies

[Federal Register Volume 73, Number 34 (Wednesday, February 20, 2008)]
[Notices]
[Pages 9369-9370]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-3109]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Rule 27d-2; SEC File No. 270-500; OMB Control No. 3235-0566.

    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 (the ``Commission'') is soliciting comments on the 
collections of information under the Investment Company Act of 1940 (15 
U.S.C. 80a) (``Act'') summarized below. The Commission plans to submit 
these collections of information to the Office of Management and Budget 
for approval.
    Rule 27d-2 (17 CFR 270.27d-2) is entitled ``Insurance Company 
Undertaking in Lieu of Segregated Trust Account.'' Rule 27d-1 (17 CFR 
270.27d-1) \1\ under the Act requires the depositor or principal 
underwriter for an issuer of periodic payment plans to deposit funds 
into a segregated trust account to provide assurance of its ability to 
fulfill its refund obligations under sections 27(d) and 27(f).\2\ Rule 
27d-2 provides an exemption from rule 27d-1 under the Act for 
depositors or principal underwriters for the issuers of periodic 
payments plans. In order to comply with the rule: (i) The depositor or 
principal underwriter must secure from an insurance company a written 
guarantee of the refund requirements; (ii) the insurance company must 
satisfy certain financial criteria; and (iii) the depositor or 
principal underwriter must file as an exhibit to the issuer's 
registration statement, a copy of the written undertaking, an annual 
statement that the insurance company has met the requisite financial 
criteria on a monthly basis, and an annual audited balance sheet.
---------------------------------------------------------------------------

    \1\ The information collection requirements for rule 27d-1 and 
Form N-27D-1 are covered in a separate Federal Register notice under 
OMB Control No. 3235-0560.
    \2\ The rule sets forth minimum reserve amounts and guidelines 
for the management and disbursement of the assets in the account. 
Rule 27d-1(j) directs depositors and principal underwriters annually 
to make an accounting of their segregated trust accounts on Form N-
27D-1, which is filed with the Commission. The form requires 
depositors and principal underwriters to report deposits to a 
segregated trust account, including those made pursuant to 
paragraphs (c) and (e) of the rule. Withdrawals pursuant to 
paragraph (f) of the rule also must be reported. In addition, the 
form solicits information regarding the minimum amount required to 
be maintained under paragraphs (d) and (e) of rule 27d-1.
---------------------------------------------------------------------------

    Rules 27d-1 and 27d-2, which were explicitly authorized by statute, 
provide assurance that depositors and principal underwriters of issuers 
have access to sufficient cash to meet the demands of certificate 
holders who reconsider their decisions to invest in a periodic payment 
plan. The information collection requirements in rules 27d-1 and 27d-2 
enable the Commission to monitor compliance with reserve rules.
    Only one registered investment company has issued a new periodic 
payment plan certificate within the past 18 months, and the principal 
underwriter or depositor for this sole issuer relies on the exemption 
in rule 27d-2. The respondent makes approximately three responses per 
year.\3\ The insurance company provides the written undertaking, annual 
statement, and certified balance sheet at no cost to the respondent. 
The staff estimates that the respondent spends approximately one hour 
per year filing the required documents from the insurance company on 
EDGAR. Thus, we estimate that the annual burden is approximately 1 
hour.
---------------------------------------------------------------------------

    \3\ The three responses are: (i) obtaining and filing the 
written undertaking or an amendment to the undertaking, (ii) filing 
the insurance company's annual statement that the financial 
conditions were satisfied, and (iii) filing the insurance company's 
certified balance sheet.
---------------------------------------------------------------------------

    The staff believes that rule 27d-2 does not impose any cost burdens 
other than those arising from the hour burdens discussed above.
    The estimates of average burden hours and costs 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 of the costs of 
Commission rules and forms.\4\
---------------------------------------------------------------------------

    \4\ These estimates are based on telephone interviews between 
the Commission staff and representatives of depositors or principal 
underwriters of periodic payment plan issuers.
---------------------------------------------------------------------------

    Complying with the collection of information requirements of rule 
27d-2 is mandatory for depositors or principal underwriters of issuers 
of periodic payment plans who rely on the rule for an exemption from 
complying with rule 27d-1 and filing Form N-27D-1 (17 CFR 274.127d-1). 
The information provided pursuant to rule 27d-2 is public and, 
therefore, 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 OMB control number.

[[Page 9370]]

    Written comments are invited on: (a) Whether the collection of 
information is necessary for the proper performance of the functions of 
the Commission, including whether the information has practical 
utility; (b) the accuracy of the Commission'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 e-mail to: PRA_Mailbox@sec.gov.

    Dated: February 14, 2008.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8-3109 Filed 2-19-08; 8:45 am]
BILLING CODE 8011-01-P
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