Submission for OMB Review; Comment Request, 25784-25785 [E8-10042]

Download as PDF 25784 Federal Register / Vol. 73, No. 89 / Wednesday, May 7, 2008 / Notices Foundation announces the following meeting: Name: Advisory Committee for International Science and Engineering (25104). Date/Time: June 9, 2008; 8 a.m. to 6 p.m. Place: National Science Foundation, 4201 Wilson Boulevard, Room 375, Arlington, VA. Type of Meeting: Open. Contact Person: Eduardo Feller, National Science Foundation, 4201 Wilson Boulevard, Arlington, VA 22230 (703) 292–8710. If you are attending the meeting and need access to the NSF, please contact the individual listed above so you name may be added to the building access list. Purpose of Meeting: To provide advice concerning issues related to the international science and engineering programs and initiatives of the NSF. Agenda: Update on Program and Staff Activities. Discussion of Proposed International Policies and Practices and Draft Strategic Plan. NSB Report on International Science and Engineering Partnerships. Update on Developing Countries Initiatives. Committee of Visitors Report. Partnerships for International Research and Education. the proposals. These matters are exempt under 5 U.S.C. 552b(c), (4) and (6) of the Government in the Sunshine Act. NSF will continue to review the agenda and merits of each meeting for overall compliance of the Federal Advisory Committee Act. These closed proposal review meetings will no longer be announced on an individual basis in the Federal Register. NSF intends to publish a notice similar to this on a quarterly basis. For an advance listing of the closed proposal review meetings that include the names of the proposal review panel and the time, date, place, and any information on changes, corrections, or cancellations, please visit the NSF Web site: http://www.nsf.gov/ events/advisory.jsp. This information may also be requested by telephoning 703/292–8182. Dated: May 2, 2008. Susanne Bolton, Committee Management Officer. [FR Doc. E8–10037 Filed 5–6–08; 8:45 am] BILLING CODE 7555–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Dated: May 2, 2008. Susanne Bolton, Committee Management Officer. [FR Doc. E8–10036 Filed 5–6–08; 8:45 am] Upon written request, copies available from: U.S. Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. BILLING CODE 7555–01–P NATIONAL SCIENCE FOUNDATION sroberts on PROD1PC70 with NOTICES Proposal Review; Notice of Meetings Extension: Rule 17a–2; OMB Control No. 3235–0201; SEC File No. 270–189. In accordance with the Federal Advisory Committee Act (Pub. L. 92– 463, as amended), the National Science Foundation (NSF) announces its intent to hold proposal review meetings throughout the year. The purpose of these meetings is to provide advice and recommendations concerning proposals submitted to the NSF for financial support. The agenda for each of these meetings is to review and evaluate proposals as part of the selection process for awards. The review and evaluation may also include assessment of the progress of awarded proposals. The majority of these meetings will take place at NSF, 4201 Wilson, Blvd., Arlington, Virginia 22230. These meetings will be closed to the public. The proposals being reviewed include information of a proprietary or confidential nature, including technical information; financial data, such as salaries; and personal information concerning individuals associated with 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 17a–2 (17 CFR 240.17a–2). Rule 17a–2 requires underwriters to maintain information regarding stabilizing activities conducted in accordance with Rule 104. The collections of information under Regulation M and Rule 17a–2 are necessary for covered persons to obtain certain benefits or to comply with certain requirements. The collections of information are necessary to provide the Commission with information regarding syndicate covering transactions and penalty bids. The Commission may review this information during periodic examinations or with respect to VerDate Aug<31>2005 21:00 May 06, 2008 Jkt 214001 PO 00000 Frm 00144 Fmt 4703 Sfmt 4703 investigations. Except for the information required to be kept under Rule 104(i) (17 CFR 242.104(i)) and Rule 17a–2(c), none of the information required to be collected or disclosed for PRA purposes will be kept confidential. The recordkeeping requirement of Rule 17a–2 requires the information be maintained in a separate file, or in a separately retrievable format, for a period of three years, the first two years in an easily accessible place, consistent with the requirements of Exchange Act Rule 17a–4(f) (17 CFR 240.17a–4(f)). There are approximately 795 respondents per year that require an aggregate total of 3975 hours to comply with this rule. Each respondent makes an estimated 1 annual response. Each response takes approximately 5 hours to complete. Thus, the total compliance burden per year is 3975 burden 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. 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: April 30, 2008. Florence E. Harmon, Deputy Secretary. [FR Doc. E8–10041 Filed 5–6–08; 8:45 am] BILLING CODE 8010–01–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 17a–6; SEC File No. 270–506; OMB Control No. 3235–0564. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501) the Securities and E:\FR\FM\07MYN1.SGM 07MYN1 sroberts on PROD1PC70 with NOTICES Federal Register / Vol. 73, No. 89 / Wednesday, May 7, 2008 / Notices Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. Section 17(a) of the Investment Company Act of 1940 (15 U.S.C. 80a) (the ‘‘Act’’) generally prohibits affiliated persons of a registered investment company (‘‘fund’’) from borrowing money or other property from, or selling or buying securities or other property to or from the fund, or any company that the fund controls. Rule 17a–6 (17 CFR 270.17a–6) permits a fund and a ‘‘portfolio affiliate’’ (a company that is an affiliated person of the fund because the fund controls the company, or holds 5 percent or more of the company’s outstanding voting securities) to engage in principal transactions that would otherwise be prohibited under section 17(a) of the Act under certain conditions. A fund may not rely on the exemption in the rule to enter into a principal transaction with a portfolio affiliate if certain prohibited participants (e.g., directors, officers, employees, or investment advisers of the fund) have a financial interest in a party to the transaction. Rule 17a–6 specifies certain interests that are not ‘‘financial interests,’’ including any interest that the fund’s board of directors (including a majority of the directors who are not interested persons of the fund) finds to be not material. A board making this finding is required to record the basis for the finding in its meeting minutes. This recordkeeping requirement is a collection of information under the rule. The rule is designed to permit transactions between funds and their portfolio affiliates in circumstances in which it is unlikely that the affiliate would be in a position to take advantage of the fund. In determining whether a financial interest is ‘‘material,’’ the board of the fund should consider whether the nature and extent of the interest in the transaction is sufficiently small that a reasonable person would not believe that the interest affected the determination of whether to enter into the transaction or arrangement or the terms of the transaction or arrangement. The information collection requirements in rule 17a–6 are intended to ensure that Commission staff can review, in the course of its compliance and examination functions, the basis for a board of directors’ finding that the financial interest of an otherwise prohibited participant in a party to a transaction with a portfolio affiliate is not material. VerDate Aug<31>2005 21:00 May 06, 2008 Jkt 214001 Based on analysis of past filings, Commission staff estimates that 148 funds are affiliated persons of 668 issuers as a result of the fund’s ownership or control of the issuer’s voting securities, and that there are approximately 1,000 such affiliate relationships. Based on staff discussions with a limited number of fund representatives, we estimate that funds currently do not rely on the exemption from the term ‘‘financial interest’’ with respect to any interest that the fund’s board of directors (including a majority of the directors who are not interested persons of the fund) finds to be not material. Accordingly, we estimate that annually there will be no principal transactions under rule 17a–6 that will result in a collection of information. The Commission requests authorization to maintain an inventory of one burden hour to ease future renewals of rule 17a–6’s collection of information analysis should funds rely on this exemption to the term ‘‘financial interest’’ as defined in rule 17a–6. The estimate of average burden hours is made solely for the purposes of the Paperwork Reduction Act. The estimate is not derived from a comprehensive or even a representative survey or study of the costs of Commission rules. Complying with this collection of information requirement is necessary to obtain the benefit of relying on rule 17a–6. 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. Please direct general comments regarding the above information to the following persons: (i) Desk Officer for the Securities and Exchange Commission, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or 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 email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: April 30, 2008. Florence E. Harmon, Deputy Secretary. [FR Doc. E8–10042 Filed 5–6–08; 8:45 am] BILLING CODE 8010–01–P PO 00000 Frm 00145 Fmt 4703 Sfmt 4703 25785 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 206(4)–6; SEC File No. 270–513; OMB Control No. 3235–0571. 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 discussed below. The title for the collection of information is ‘‘Rule 206(4)–6’’ under the Investment Advisers Act of 1940 (15 U.S.C. 80b–1 et seq.) (‘‘Advisers Act’’) and the collection has been approved under OMB Control No. 3235–0571. The Commission adopted rule 206(4)–6 (17 CFR 275.206(4)–6), the proxy voting rule, to address an investment adviser’s fiduciary obligation to clients who have given the adviser authority to vote their securities. Under the rule, an investment adviser that exercises voting authority over client securities is required to: (i) Adopt and implement policies and procedures that are reasonably designed to ensure that the adviser votes securities in the best interest of clients, including procedures to address any material conflict that may arise between the interest of the adviser and the client; (ii) disclose to clients how they may obtain information on how the adviser has voted with respect to their securities; and (iii) describe to clients the advisers proxy voting policies and procedures and, on request, furnish a copy of the policies and procedures to the requesting client. The rule is designed to assure that advisers that vote proxies for their clients vote those proxies in their clients’ best interest and provide clients with information about how their proxies were voted. Rule 206(4)–6 contains ‘‘collection of information’’ requirements within the meaning of the Paperwork Reduction Act. 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. The collection is mandatory and responses to the disclosure requirement are not kept confidential. E:\FR\FM\07MYN1.SGM 07MYN1

Agencies

[Federal Register Volume 73, Number 89 (Wednesday, May 7, 2008)]
[Notices]
[Pages 25784-25785]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-10042]


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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-6; SEC File No. 270-506; OMB Control No. 3235-0564.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501) the Securities and

[[Page 25785]]

Exchange Commission (``Commission'') has submitted to the Office of 
Management and Budget a request for extension of the previously 
approved collection of information discussed below.
    Section 17(a) of the Investment Company Act of 1940 (15 U.S.C. 80a) 
(the ``Act'') generally prohibits affiliated persons of a registered 
investment company (``fund'') from borrowing money or other property 
from, or selling or buying securities or other property to or from the 
fund, or any company that the fund controls. Rule 17a-6 (17 CFR 
270.17a-6) permits a fund and a ``portfolio affiliate'' (a company that 
is an affiliated person of the fund because the fund controls the 
company, or holds 5 percent or more of the company's outstanding voting 
securities) to engage in principal transactions that would otherwise be 
prohibited under section 17(a) of the Act under certain conditions. A 
fund may not rely on the exemption in the rule to enter into a 
principal transaction with a portfolio affiliate if certain prohibited 
participants (e.g., directors, officers, employees, or investment 
advisers of the fund) have a financial interest in a party to the 
transaction. Rule 17a-6 specifies certain interests that are not 
``financial interests,'' including any interest that the fund's board 
of directors (including a majority of the directors who are not 
interested persons of the fund) finds to be not material. A board 
making this finding is required to record the basis for the finding in 
its meeting minutes. This recordkeeping requirement is a collection of 
information under the rule.
    The rule is designed to permit transactions between funds and their 
portfolio affiliates in circumstances in which it is unlikely that the 
affiliate would be in a position to take advantage of the fund. In 
determining whether a financial interest is ``material,'' the board of 
the fund should consider whether the nature and extent of the interest 
in the transaction is sufficiently small that a reasonable person would 
not believe that the interest affected the determination of whether to 
enter into the transaction or arrangement or the terms of the 
transaction or arrangement. The information collection requirements in 
rule 17a-6 are intended to ensure that Commission staff can review, in 
the course of its compliance and examination functions, the basis for a 
board of directors' finding that the financial interest of an otherwise 
prohibited participant in a party to a transaction with a portfolio 
affiliate is not material.
    Based on analysis of past filings, Commission staff estimates that 
148 funds are affiliated persons of 668 issuers as a result of the 
fund's ownership or control of the issuer's voting securities, and that 
there are approximately 1,000 such affiliate relationships. Based on 
staff discussions with a limited number of fund representatives, we 
estimate that funds currently do not rely on the exemption from the 
term ``financial interest'' with respect to any interest that the 
fund's board of directors (including a majority of the directors who 
are not interested persons of the fund) finds to be not material. 
Accordingly, we estimate that annually there will be no principal 
transactions under rule 17a-6 that will result in a collection of 
information.
    The Commission requests authorization to maintain an inventory of 
one burden hour to ease future renewals of rule 17a-6's collection of 
information analysis should funds rely on this exemption to the term 
``financial interest'' as defined in rule 17a-6.
    The estimate of average burden hours is made solely for the 
purposes of the Paperwork Reduction Act. The estimate is not derived 
from a comprehensive or even a representative survey or study of the 
costs of Commission rules. Complying with this collection of 
information requirement is necessary to obtain the benefit of relying 
on rule 17a-6. 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.
    Please direct general comments regarding the above information to 
the following persons: (i) Desk Officer for the Securities and Exchange 
Commission, Office of Management and Budget, Room 10102, New Executive 
Office Building, Washington, DC 20503 or 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 email to: 
PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: April 30, 2008.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E8-10042 Filed 5-6-08; 8:45 am]
BILLING CODE 8010-01-P