Advisory Committee on Improvements to Financial Reporting, 20073-20074 [E8-7893]

Download as PDF Federal Register / Vol. 73, No. 72 / Monday, April 14, 2008 / Notices Web site, https://www.nrc.gov/readingrm/adams.html. The EA can be found in ADAMS under Accession Number ML070230004. Persons who do not have access to ADAMS or who encounter problems in accessing the documents located in ADAMS should contact the NRC PDR Reference staff at 1–800–397– 4209, or 301–415–4737, or send an email to pdr@nrc.gov. Dated at Rockville, Maryland, this 7th day of April, 2008. For the Nuclear Regulatory Commission. Daniel S. Collins, Chief, Research and Test Reactors Branch A, Division of Policy and Rulemaking, Office of Nuclear Reactor Regulation. [FR Doc. E8–7848 Filed 4–11–08; 8:45 am] BILLING CODE 7590–01–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 20549–0123 jlentini on PROD1PC65 with NOTICES New Information Collection: Study on the Impact of Companies’ Compliance with the Requirements Implementing Section 404 of the Sarbanes-Oxley Act of 2002; OMB Control No. 3235–xxxx; SEC File No. 270–575 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 this request for approval. The Commission staff plans to undertake a study that will involve collecting and analyzing empirical data regarding the impact on public companies of compliance with the requirements implementing section 404 of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7262). The study will consider whether recent actions by the Commission and the Public Company Accounting Oversight Board are having their intended effect of increasing efficiency and lowering compliance costs. Participation in the study will be voluntary. Participants in the study are expected to include companies subject to the reporting requirements under section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 15 U.S.C. 78o(d)), as well as financial analysts, auditors, investors and other interested parties. VerDate Aug<31>2005 18:09 Apr 11, 2008 Jkt 214001 20073 We plan to invite up to 10,000 respondents to participate in the study. If all of these respondents participate in the study at an average estimated 1 hour per response, the total annual burden will be 10,000 hours. In addition, we also plan to conduct a follow-up survey and in-depth interviews with up to 500 respondents, at an estimated two hours per response, for a total annual burden of approximately 1,000 hours. Therefore, the total aggregate burden associated with the study is an estimated 11,000 hours. 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 persons: (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, Office of Information Technology, 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. will begin at 8 a.m. (CDT) and will be open to the public. The meeting will be webcast on the Commission’s Web site at https://www.sec.gov. Persons needing special accommodations to take part because of a disability should notify a contact person listed below. The public is invited to submit written statements for the meeting. The agenda for the meeting includes hearing oral testimony from panel participants regarding the Advisory Committee’s developed proposals and conceptual approaches, as presented in the Advisory Committee’s progress report dated February 14, 2008 (https:// www.sec.gov/rules/other/2008/338896.pdf), related to substantive complexity and the standards-setting process; consideration of comment letters received by the Advisory Committee; consideration of updates from subcommittees of the Advisory Committee; and discussion of next steps and planning for the next meeting. DATES: Written statements should be received on or before April 25, 2008. ADDRESSES: Written statements may be submitted by any of the following methods: April 7, 2008. Florence E. Harmon, Deputy Secretary. [FR Doc. E8–7828 Filed 4–11–08; 8:45 am] Paper Comments BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release Nos. 33–8908; 34–57638; File No. 265–24] Advisory Committee on Improvements to Financial Reporting Securities and Exchange Commission. ACTION: Notice of Meeting of SEC Advisory Committee on Improvements to Financial Reporting. AGENCY: SUMMARY: The Securities and Exchange Commission Advisory Committee on Improvements to Financial Reporting is providing notice that it will hold a public meeting on Friday, May 2, 2008, at the Donald E. Stephens Conference Center, Room 21, 5555 N. River Road, Rosemont, Illinois 60018. The meeting PO 00000 Frm 00056 Fmt 4703 Sfmt 4703 Electronic Comments • Use the Commission’s Internet submission form (https://www.sec.gov/ rules/other.shtml); or • Send an e-mail message to rulecomments@sec.gov. Please include File Number 265–24 on the subject line. • Send paper statements in triplicate to Nancy M. Morris, Federal Advisory Committee Management Officer, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File No. 265–24. This file number should be included on the subject line if e-mail is used. To help us process and review your statements more efficiently, please use only one method. The Commission staff will post all statements on the Advisory Committee’s Web site (https:// www.sec.gov/about/offices/oca/ acifr.shtml). Statements also will be available for public inspection and copying in the Commission’s Public Reference Room, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. All statements received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. E:\FR\FM\14APN1.SGM 14APN1 20074 Federal Register / Vol. 73, No. 72 / Monday, April 14, 2008 / Notices FOR FURTHER INFORMATION CONTACT: James L. Kroeker, Deputy Chief Accountant, or Shelly C. Luisi, Senior Associate Chief Accountant, at (202) 551–5300, Office of the Chief Accountant, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–6561. SUPPLEMENTARY INFORMATION: In accordance with Section 10(a) of the Federal Advisory Committee Act, 5 U.S.C. App. 1, 10(a), James L. Kroeker, Designated Federal Officer of the Committee, has approved publication of this notice. Dated: April 9, 2008. Nancy M. Morris, Committee Management Officer. [FR Doc. E8–7893 Filed 4–11–08; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–57631; File No. SR–Amex– 2008–30] Self-Regulatory Organizations; American Stock Exchange, LLC; Notice of Filing of Proposed Rule Change and Amendment No. 1 Thereto To Amend the Eligibility Criteria for Components of an Index or Portfolio Underlying Portfolio Depositary Receipts and Index Fund Shares April 8, 2008. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 notice is hereby given that on March 25, 2008, the American Stock Exchange, LLC (‘‘Amex’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been substantially prepared by the Exchange. On April 1, 2008, the Exchange filed Amendment No. 1 to the proposed rule change. The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons. jlentini on PROD1PC65 with NOTICES I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Commentary .03 to Amex Rule 1000– AEMI (Portfolio Depositary Receipts or ‘‘PDRs’’) and Commentary .02 to Amex Rule 1000A–AEMI (Index Fund Shares or ‘‘IFSs,’’ and together with PDRs, collectively, ‘‘ETFs’’) to exclude ETFs 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Aug<31>2005 18:09 Apr 11, 2008 Jkt 214001 and securities defined as Managed Fund Shares (Amex Rule 1000B), Trust Issued Receipts (Amex Rule 1200), Commodity-Based Trust Shares (Amex Rule 1200A), Currency Trust Shares (Amex Rule 1200B), Partnership Units (Amex Rule 1500), and Paired Trust Shares (Amex Rule 1600) (together with ETFs, collectively, ‘‘Derivative Securities Products’’) when applying certain quantitative listing requirements of Commentary .03 to Amex Rule 1000– AEMI and Commentary .02 to Amex Rule 1000A–AEMI. The text of the proposed rule change is available at the Exchange, the Commission’s Public Reference Room, and www.amex.com. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of the proposed rule change is to enable the listing and trading of ETFs that are linked to, or based on, Derivative Securities Products pursuant to Rule 19b–4(e) under the Act.3 To this end, the Exchange proposes to amend Commentary .03 to Amex Rule 1000–AEMI and Commentary .02 to Amex Rule 1000A– AEMI. Amex Rules 1000–AEMI and 1000A– AEMI provide that the Exchange may approve a series of PDRs and IFSs, respectively, for listing and/or trading (including pursuant to unlisted trading privileges) pursuant to Rule 19b–4(e) under the Act,4 if such series satisfies 3 Rule 19b–4(e) under the Act provides that the listing and trading of a new derivative securities product by a self-regulatory organization (‘‘SRO’’) shall not be deemed a proposed rule change, pursuant to Rule 19b–4(c)(1) (17 CFR 240.19b– 4(c)(1)), if the Commission has approved, pursuant to Section 19(b) of the Act (15 U.S.C. 78s(b)), the SRO’s trading rules, procedures, and listing standards for the product class that would include the new derivatives securities product, and the SRO has a surveillance program for the product class. See 17 CFR 240.19b–4(e). 4 See id. PO 00000 Frm 00057 Fmt 4703 Sfmt 4703 the criteria set forth in such Rules. In this proposal, the Exchange seeks to exclude Derivative Securities Products when applying certain quantitative listing requirements of Commentary .03 to Amex Rule 1000–AEMI and Commentary .02 to Amex Rule 1000A– AEMI relating to the listing of PDRs and IFSs, respectively, based on a U.S. index or portfolio or an international or global index or portfolio. With respect to Commentary .03 to Amex Rule 1000–AEMI and Commentary .02 to Amex Rule 1000A– AEMI, the Exchange proposes to exclude Derivative Securities Products, as components, when applying the following existing component eligibility requirements: (1) Component stocks that, in the aggregate, account for at least 90% of the weight of the index or portfolio each must have a minimum market value of at least $75 million (Commentary .03(a)(A)(1) to Amex Rule 1000–AEMI and Commentary .02(a)(A)(1) to Amex Rule 1000A– AEMI); (2) component stocks that, in the aggregate, account for at least 90% of the weight of the index or portfolio each must have a minimum monthly trading volume during each of the last six months of at least 250,000 shares (Commentary .03(a)(A)(2) to Amex Rule 1000–AEMI and Commentary .02(a)(A)(2) to Amex Rule 1000A– AEMI); and (3) the most heavily weighted component stock must not exceed 30% of the weight of the index or portfolio, and the five most heavily weighted component stocks must not exceed 65% of the weight of the index or portfolio (Commentary .03(a)(A)(3) to Amex Rule 1000–AEMI and Commentary .02(a)(A)(3) to Amex Rule 1000A–AEMI). Component stocks, in the aggregate, excluding Derivative Securities Products, would still be required to meet the criteria of these provisions. Thus, for example, when determining compliance with Commentaries .03(a)(A)(1) and (2) to Amex Rule 1000–AEMI and Commentaries .02(a)(A)(1) and (2) to Amex Rule 1000A–AEMI, component stocks that, in the aggregate, account for at least 90% of the remaining index weight, after excluding any Derivative Securities Products, would be required to have a minimum market value of at least $75 million and minimum monthly trading volume of 250,000 shares during each of the last six months, respectively. In addition, with respect to Commentary .03(a)(A)(3) to Amex Rule 1000–AEMI and Commentary .02(a)(A)(3) to Amex Rule 1000A–AEMI, when determining the component weight for the most heavily E:\FR\FM\14APN1.SGM 14APN1

Agencies

[Federal Register Volume 73, Number 72 (Monday, April 14, 2008)]
[Notices]
[Pages 20073-20074]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-7893]


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SECURITIES AND EXCHANGE COMMISSION

[Release Nos. 33-8908; 34-57638; File No. 265-24]


Advisory Committee on Improvements to Financial Reporting

AGENCY: Securities and Exchange Commission.

ACTION: Notice of Meeting of SEC Advisory Committee on Improvements to 
Financial Reporting.

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

SUMMARY: The Securities and Exchange Commission Advisory Committee on 
Improvements to Financial Reporting is providing notice that it will 
hold a public meeting on Friday, May 2, 2008, at the Donald E. Stephens 
Conference Center, Room 21, 5555 N. River Road, Rosemont, Illinois 
60018. The meeting will begin at 8 a.m. (CDT) and will be open to the 
public. The meeting will be webcast on the Commission's Web site at 
https://www.sec.gov. Persons needing special accommodations to take part 
because of a disability should notify a contact person listed below. 
The public is invited to submit written statements for the meeting.
    The agenda for the meeting includes hearing oral testimony from 
panel participants regarding the Advisory Committee's developed 
proposals and conceptual approaches, as presented in the Advisory 
Committee's progress report dated February 14, 2008 (https://
www.sec.gov/rules/other/2008/33-8896.pdf), related to substantive 
complexity and the standards-setting process; consideration of comment 
letters received by the Advisory Committee; consideration of updates 
from subcommittees of the Advisory Committee; and discussion of next 
steps and planning for the next meeting.

DATES: Written statements should be received on or before April 25, 
2008.

ADDRESSES: Written statements may be submitted by any of the following 
methods:

Electronic Comments

     Use the Commission's Internet submission form (https://
www.sec.gov/rules/other.shtml); or
     Send an e-mail message to rule-comments@sec.gov. Please 
include File Number 265-24 on the subject line.

Paper Comments

     Send paper statements in triplicate to Nancy M. Morris, 
Federal Advisory Committee Management Officer, Securities and Exchange 
Commission, 100 F Street, NE., Washington, DC 20549-1090.

    All submissions should refer to File No. 265-24. This file number 
should be included on the subject line if e-mail is used. To help us 
process and review your statements more efficiently, please use only 
one method. The Commission staff will post all statements on the 
Advisory Committee's Web site (https://www.sec.gov/about/offices/oca/
acifr.shtml). Statements also will be available for public inspection 
and copying in the Commission's Public Reference Room, 100 F Street, 
NE., Washington, DC 20549, on official business days between the hours 
of 10 a.m. and 3 p.m. All statements received will be posted without 
change; we do not edit personal identifying information from 
submissions. You should submit only information that you wish to make 
available publicly.

[[Page 20074]]


FOR FURTHER INFORMATION CONTACT: James L. Kroeker, Deputy Chief 
Accountant, or Shelly C. Luisi, Senior Associate Chief Accountant, at 
(202) 551-5300, Office of the Chief Accountant, Securities and Exchange 
Commission, 100 F Street, NE., Washington, DC 20549-6561.

SUPPLEMENTARY INFORMATION: In accordance with Section 10(a) of the 
Federal Advisory Committee Act, 5 U.S.C. App. 1, 10(a), James L. 
Kroeker, Designated Federal Officer of the Committee, has approved 
publication of this notice.

    Dated: April 9, 2008.
Nancy M. Morris,
Committee Management Officer.
 [FR Doc. E8-7893 Filed 4-11-08; 8:45 am]
BILLING CODE 8011-01-P
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