Proposed Collection; Comment Request, 16732-16733 [E8-6423]

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 Federal Register / Vol. 73, No. 61 / Friday, March 28, 2008 / Notices hours would be borne by staff working at a rate of $40 per hour.1 Subject to certain exceptions, the Rule prohibits brokers-dealers 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. The broker-dealer must also make the information reasonably available upon request to any person expressing an interest in a proposed transaction in the security with such broker or dealer. The collection of information that is submitted to FINRA for review and approval is currently not available to the public from FINRA. 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. A Closed Meeting will be held on Monday, March 31, 2008 at 10 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)(3), (5), (7), (9)(B), and (10) and 17 CFR 200.402(a)(3), (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 and determined that no earlier notice thereof was possible. The subject matter of the Closed Meeting scheduled for Monday, March 31, 2008 will be: Formal orders of investigation; Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings of an enforcement nature; and Adjudicatory matters. 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 added, deleted or postponed, please contact: The Office of the Secretary at (202) 551–5400. Dated: March 25, 2008. Nancy M. Morris, Secretary. [FR Doc. E8–6371 Filed 3–27–08; 8:45 am] BILLING CODE 8011–01–P Dated: March 24, 2008. Florence E. Harmon, Deputy Secretary. [FR Doc. E8–6423 Filed 3–27–08; 8:45 am] SMALL BUSINESS ADMINISTRATION BILLING CODE 8011–01–P Georgia Disaster # GA–00012 [Disaster Declaration #11196 and #11197] sroberts on PROD1PC70 with NOTICES Sunshine Act Meeting Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission will hold the following Closed Meeting during the week of March 31, 2008: 1 See Appendix C, SIFMA Office Salaries Data— Sept. 2007 for General Clerk national hourly rate. VerDate Aug<31>2005 17:57 Mar 27, 2008 Jkt 214001 SUMMARY: This is a Notice of the Presidential declaration of a major disaster for the State of Georgia (FEMA– 1750–DR), dated 03/20/2008. Incident: Severe Storm and Tornadoes. Incident Period: 03/14/2008 through 03/16/2008. DATES: Effective Date: 03/20/2008. Physical Loan Application Deadline Date: 05/19/2008. PO 00000 Frm 00113 Fmt 4703 Sfmt 4703 Economic Injury (EIDL) Loan Application Deadline Date: 12/22/2008. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of the President’s major disaster declaration on 03/20/2008, applications for disaster loans may be filed at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: Primary Counties (Physical Damage and Economic Injury Loans): Fulton. Contiguous Counties (Economic Injury Loans Only): Georgia: Carroll, Cherokee, Clayton, Cobb, Coweta, Dekalb, Douglas, Fayette, Forsyth, Gwinnett. The Interest Rates are: Percent For Physical Damage: Homeowners With Credit Available Elsewhere ...................... Homeowners Without Credit Available Elsewhere .............. Businesses With Credit Available Elsewhere ...................... Other (Including Non-Profit Organizations) With Credit Available Elsewhere .............. Businesses and Non-Profit Organizations Without Credit Available Elsewhere .............. For Economic Injury: Businesses & Small Agricultural Cooperatives Without Credit Available Elsewhere .............. 5.500 2.750 8.000 5.250 4.000 4.000 The number assigned to this disaster for physical damage is 11196C and for economic injury is 111970. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) U.S. Small Business Administration. ACTION: Notice. AGENCY: SECURITIES AND EXCHANGE COMMISSION 16733 Herbert L. Mitchell, Associate Administrator for Disaster Assistance. [FR Doc. E8–6387 Filed 3–27–08; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 11189 and # 11190] Illinois Disaster Number IL–00013 U.S. Small Business Administration. AGENCY: E:\FR\FM\28MRN1.SGM 28MRN1

Agencies

[Federal Register Volume 73, Number 61 (Friday, March 28, 2008)]
[Notices]
[Pages 16732-16733]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-6423]


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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.
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.
     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-the-
counter (``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 brokers-dealers 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 broker-dealers who initiate or resume 
publication of quotations for covered OTC securities of reporting 
issuers will require 3,104 hours (970 x 80% x 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 x 
20% x 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

[[Page 16733]]

hours would be borne by staff working at a rate of $40 per hour.\1\
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    \1\ See Appendix C, SIFMA Office Salaries Data--Sept. 2007 for 
General Clerk national hourly rate.
---------------------------------------------------------------------------

    Subject to certain exceptions, the Rule prohibits brokers-dealers 
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. The 
broker-dealer must also make the information reasonably available upon 
request to any person expressing an interest in a proposed transaction 
in the security with such broker or dealer. The collection of 
information that is submitted to FINRA for review and approval is 
currently not available to the public from FINRA.
    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: March 24, 2008.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E8-6423 Filed 3-27-08; 8:45 am]
BILLING CODE 8011-01-P
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