Submission for OMB Review; Comment Request, 16732 [E8-6383]

Download as PDF 16732 Federal Register / Vol. 73, No. 61 / Friday, March 28, 2008 / Notices 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: March 24, 2008. Florence E. Harmon, Deputy Secretary. [FR Doc. E8–6382 Filed 3–27–08; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon written request, copies available from: U.S. Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213 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 $8943.75, resulting in a cost of compliance for the respondent per response of approximately $11.25 (i.e., $8943.75/795 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. 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: March 24, 2008. Florence E. Harmon, Deputy Secretary. [FR Doc. E8–6383 Filed 3–27–08; 8:45 am] sroberts on PROD1PC70 with NOTICES Extension: Rule 104, OMB Control No. 3235–0465, SEC File No. 270–411. BILLING CODE 8011–01–P 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 approval of extension of the existing collection of information provided for in the following rule: Rule 104 of Regulation M (17 CFR 242.104). 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 penalty bids. SECURITIES AND EXCHANGE COMMISSION VerDate Aug<31>2005 17:57 Mar 27, 2008 Jkt 214001 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. Extension: Rule 15c2–11; OMB Control No. 3235– 0202; SEC File No. 270–196. 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. PO 00000 Frm 00112 Fmt 4703 Sfmt 4703 • Rule 15c2–11 (17 CFR 240.15c2– 11)—Initiation or resumption of quotations without specific information On September 13, 1971, effective December 13, 1971 (see 36 FR 18641, September 18, 1971), the Commission adopted Rule 15c2–11 (‘‘Rule 15c2–11’’ or ‘‘Rule’’) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) to regulate the initiation or resumption of quotations in a quotation medium by a broker-dealer for over-thecounter (‘‘OTC’’) securities. The Rule was designed primarily to prevent certain manipulative and fraudulent trading schemes that had arisen in connection with the distribution and trading of unregistered securities issued by shell companies or other companies having outstanding but infrequently traded securities. Subject to certain exceptions, the Rule prohibits brokersdealers from publishing a quotation for a security, or submitting a quotation for publication, in a quotation medium unless they have reviewed specified information concerning the security and the issuer. Based on information provided by Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’), in the 2006 calendar year, FINRA received approximately 970 applications from broker-dealers to initiate or resume publication of covered OTC securities in the OTC Bulletin Board and/or the Pink Sheets or other quotation mediums. We estimate that (i) 80% of the covered OTC securities were issued by reporting issuers, while the other 20% were issued by non-reporting issuers, and (ii) it will take a broker-dealer about 4 hours to review, record and retain the information pertaining to a reporting issuer, and about 8 hours to review, record and retain the information pertaining to a non-reporting issuer. We therefore estimate that brokerdealers who initiate or resume publication of quotations for covered OTC securities of reporting issuers will require 3,104 hours (970 × 80% × 4) to review, record and retain the information required by the Rule. We estimate that broker-dealers who initiate or resume publication of quotations for covered OTC securities of non-reporting issuers will require 1,552 hours (970 × 20% × 8) to review, record and retain the information required by the Rule. Thus, we estimate the total annual burden hours for broker-dealers to initiate or resume publication of quotations of covered OTC securities to be 4,656 hours (3,104 + 1,552). The Commission believes that these 4,656 E:\FR\FM\28MRN1.SGM 28MRN1

Agencies

[Federal Register Volume 73, Number 61 (Friday, March 28, 2008)]
[Notices]
[Page 16732]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-6383]


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

SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon written request, copies available from: U.S. Securities and 
Exchange Commission, Office of Investor Education and Advocacy, 
Washington, DC 20549-0213

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'') has submitted to the Office of Management 
and Budget a request for approval of extension of the existing 
collection of information provided for in the following rule: Rule 104 
of Regulation M (17 CFR 242.104).
    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 penalty bids.
    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 $8943.75, resulting in a cost of 
compliance for the respondent per response of approximately $11.25 
(i.e., $8943.75/795 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.
    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: March 24, 2008.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8-6383 Filed 3-27-08; 8:45 am]
BILLING CODE 8011-01-P