Proposed Collection; Comment Request, 39740 [E8-15676]
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39740
Federal Register / Vol. 73, No. 133 / Thursday, July 10, 2008 / Notices
jlentini on PROD1PC65 with NOTICES
provide notice of any material changes
to custody risk under the rule. The staff
estimates that each response would take
250.25 hours, requiring approximately
1001 hours annually per custodian.3
The total annual burden associated with
these requirements of the new rule
would be approximately 15,015 hours
(15 custodians × 1001 hours). Therefore,
the staff estimates that the total annual
burden associated with all collection of
information requirements of the rule
would be 46,893 hours (31,878 +
15,015). The total annual cost of burden
hours is estimated to be $10,081,302
(31,878 × $239 for a portfolio manager,
plus 15,015 hours × $164/hour for a
trust administrator’s time).4 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 and
forms. Compliance with the collection
of information requirements of the rule
is necessary to obtain the benefit of
relying on the rule’s permission for
funds to maintain their assets in foreign
custodians.
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 Lewis W. Walker, Acting Director/
CIO, 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.
3 These estimates are based on conversations with
representatives of the fund industry and global
custodians.
4 The salaries for a portfolio manager and a trust
administrator are from SIFMA’s Management &
Professional Earnings in the Securities Industry
2007, modified to account for an 1800-hour workyear and multiplied by 5.35 to account for bonuses,
firm size, employee benefits and overhead.
VerDate Aug<31>2005
16:58 Jul 09, 2008
Jkt 214001
Dated: July 2, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–15643 Filed 7–9–08; 8:45 am]
BILLING CODE 8010–01–P
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 10A–1; SEC File No. 270–425; OMB
Control No. 3235–0468.
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 10A–1 (17 CFR 240.10A–1)
implements the reporting requirements
in Section 10A of the Exchange Act (15
U.S.C. 78j–1), which was enacted by
Congress on December 22, 1995 as part
of the Private Securities Litigation
Reform Act of 1995, Public Law No.
104–67, 109 Stat 737. Under section
10A and Rule 10A–1 reporting occurs
only if a registrant’s board of directors
receives a report from its auditors that
(1) there is an illegal act material to the
registrant’s financial statements, (2)
senior management and the board have
not taken timely and appropriate
remedial action, and (3) the failure to
take such action is reasonably expected
to warrant the auditor’s modification of
the audit report or resignation from the
audit engagement. The board of
directors must notify the Commission
within one business day of receiving
such a report. If the board fails to
provide that notice, then the auditor,
within the next business day, must
provide the Commission with a copy of
the report that it gave to the board.
Likely respondents are those
registrants filing audited financial
statements under the Securities
Exchange Act of 1934 (15 U.S.C. 78a, et
seq.) and the Investment Company Act
of 1940 (15 U.S.C. 80a–1, et seq.).
It is estimated that Rule 10A–1 results
in an aggregate additional reporting
burden of 10 hours per year. The
estimated average burden hours are
PO 00000
Frm 00095
Fmt 4703
Sfmt 4703
solely for purposes of the Paperwork
Reduction Act and are not derived from
a comprehensive or even a
representative survey or study of the
costs of SEC rules or forms.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’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, Virginia 22312; or send an
e-mail to: PRA_Mailbox@sec.gov.
Dated: June 30, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–15676 Filed 7–9–08; 8:45 am]
BILLING CODE 8010–01–P
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 17f–2(d); SEC File No. 270–36; OMB
Control No. 3235–0028.
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 17f–2(d) (17 CFR 240.17f–
2(d)).
Rule 17f–2(d) was adopted on March
16, 1976, and was last amended on
November 18, 1982. Paragraph (d) of the
E:\FR\FM\10JYN1.SGM
10JYN1
]]>Agencies
[Federal Register Volume 73, Number 133 (Thursday, July 10, 2008)]
[Notices]
[Page 39740]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-15676]
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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 10A-1; SEC File No. 270-425; OMB Control No. 3235-0468.
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 10A-1 (17 CFR 240.10A-1) implements the reporting requirements
in Section 10A of the Exchange Act (15 U.S.C. 78j-1), which was enacted
by Congress on December 22, 1995 as part of the Private Securities
Litigation Reform Act of 1995, Public Law No. 104-67, 109 Stat 737.
Under section 10A and Rule 10A-1 reporting occurs only if a
registrant's board of directors receives a report from its auditors
that (1) there is an illegal act material to the registrant's financial
statements, (2) senior management and the board have not taken timely
and appropriate remedial action, and (3) the failure to take such
action is reasonably expected to warrant the auditor's modification of
the audit report or resignation from the audit engagement. The board of
directors must notify the Commission within one business day of
receiving such a report. If the board fails to provide that notice,
then the auditor, within the next business day, must provide the
Commission with a copy of the report that it gave to the board.
Likely respondents are those registrants filing audited financial
statements under the Securities Exchange Act of 1934 (15 U.S.C. 78a, et
seq.) and the Investment Company Act of 1940 (15 U.S.C. 80a-1, et
seq.).
It is estimated that Rule 10A-1 results in an aggregate additional
reporting burden of 10 hours per year. The estimated average burden
hours are solely for purposes of the Paperwork Reduction Act and are
not derived from a comprehensive or even a representative survey or
study of the costs of SEC rules or forms.
Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the agency, including whether the information will
have practical utility; (b) the accuracy of the agency'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, Virginia 22312;
or send an e-mail to: PRA_Mailbox@sec.gov.
Dated: June 30, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-15676 Filed 7-9-08; 8:45 am]
BILLING CODE 8010-01-P
