Proposed Collection; Comment Request, 39740-39741 [E8-15683]
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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
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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
jlentini on PROD1PC65 with NOTICES
Federal Register / Vol. 73, No. 133 / Thursday, July 10, 2008 / Notices
rule (i) requires that records produced
pursuant to the fingerprinting
requirements of Section 17(f)(2) of the
Securities Exchange Act of 1934
(‘‘Exchange Act’’) be maintained, (ii)
permits the designated examining
authorities of broker-dealers or members
of exchanges, under certain
circumstances, to store and maintain
records required to be kept by this rule,
and (iii) permits the required records to
be maintained on microfilm.
The general purpose for Rule 17f–2 is:
(i) To identify security risk personnel;
(ii) to provide criminal record
information so that employers can make
fully informed employment decisions;
and (iii) to deter persons with criminal
records from seeking employment or
association with covered entities.
Retention of fingerprint records, as
required under paragraph (d) of the
Rule, enables the Commission or other
examining authority to ascertain
whether all required persons are being
fingerprinted and whether proper
procedures regarding fingerprints are
being followed. Retention of these
records for the term of employment of
all personnel plus three years ensures
that law enforcement officials will have
easy access to fingerprint cards on a
timely basis. This in turn acts as an
effective deterrent to employee
misconduct.
Approximately 5,984 respondents are
subject to the recordkeeping
requirements of the rule. Each
respondent keeps approximately 62 new
records per year, which takes
approximately 2 minutes per record for
the respondent to maintain, for an
annual burden of approximately 2 hours
per respondent or a total annual burden
of approximately 11,968 hours on all
respondents, collectively. All records
subject to the rule must be retained for
the term of employment plus 3 years.
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 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
VerDate Aug<31>2005
16:58 Jul 09, 2008
Jkt 214001
comments and suggestions submitted in
writing within 60 days of this
publication.
Please direct your written comments
to Lewis W. Walker, Acting 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: July 7, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–15683 Filed 7–9–08; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–58083; File No. SR–Amex–
2008–57]
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change To Extend
the Quarterly Options Series Pilot
Program
July 2, 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 June 27,
2008, the American Stock Exchange LLC
(‘‘Exchange’’ or ‘‘Amex’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been
substantially prepared by the Exchange.
The Exchange has designated this
proposal as non-controversial under
Section 19(b)(3)(A)(iii) of the Act 3 and
Rule 19b–4(f)(6) thereunder,4 which
renders the proposed rule change
effective upon filing with the
Commission. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to extend for
one year, through July 10, 2009, its pilot
program allowing the listing and trading
of options series that expire at the close
of business on the last business day of
a calendar quarter (the ‘‘Pilot Program’’).
The text of the proposed rule change is
available on the Exchange’s Web site
(https://www.amex.com), at the principal
PO 00000
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(6).
2 17
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39741
office of the Exchange, and at the
Commission’s Public Reference Room.
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 Exchange is proposing to extend
the Pilot Program from July 10, 2008,
through and including July 10, 2009.
The Pilot Program was originally
approved by the Commission in July
2006,5 and subsequently extended in
July 2007.6 The Pilot Program permits
the Amex to accommodate the listing
and trading of options series that expire
at the close of business on the last
business day of a calendar quarter
(‘‘Quarterly Options Series’’). The
Exchange as well as the other options
exchanges recently amended the Pilot
Program to permit the listing of
additional Quarterly Options Series
relating to exchange-traded fund
(‘‘ETF’’) shares.7
The Exchange submits that Quarterly
Options Series are beneficial to the
marketplace and provide investors an
additional risk management tool. Amex
Rules 900(b)(45) and 900C(c)(26) define
‘‘Quarterly Options Series’’ as a series of
an options class or an index options
class, respectively, that is approved for
listing and trading on the Exchange in
which the series is opened for trading
on any business day and that expires at
the close of business on the last
business day of a calendar quarter.
Quarterly Options Series are limited to
5 See Securities Exchange Act Release No. 54137
(July 12, 2006), 71 FR 41283 (July 20, 2006) (SR–
Amex–2006–67).
6 See Securities Exchange Act Release No. 56032
(July 9, 2007), 72 FR 38634 (July 13, 2007) (SR–
Amex–2007–66).
7 See Securities Exchange Act Release No. 57581
(March 31, 2008), 73 FR 18593 (April 4, 2008) (SR–
Amex–2008–31) (‘‘Pilot Expansion’’). The Pilot
Expansion permits the listing of additional series
and establishes a delisting policy for outlying series
with no open interest.
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]]>Agencies
[Federal Register Volume 73, Number 133 (Thursday, July 10, 2008)]
[Notices]
[Pages 39740-39741]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-15683]
-----------------------------------------------------------------------
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
[[Page 39741]]
rule (i) requires that records produced pursuant to the fingerprinting
requirements of Section 17(f)(2) of the Securities Exchange Act of 1934
(``Exchange Act'') be maintained, (ii) permits the designated examining
authorities of broker-dealers or members of exchanges, under certain
circumstances, to store and maintain records required to be kept by
this rule, and (iii) permits the required records to be maintained on
microfilm.
The general purpose for Rule 17f-2 is: (i) To identify security
risk personnel; (ii) to provide criminal record information so that
employers can make fully informed employment decisions; and (iii) to
deter persons with criminal records from seeking employment or
association with covered entities.
Retention of fingerprint records, as required under paragraph (d)
of the Rule, enables the Commission or other examining authority to
ascertain whether all required persons are being fingerprinted and
whether proper procedures regarding fingerprints are being followed.
Retention of these records for the term of employment of all personnel
plus three years ensures that law enforcement officials will have easy
access to fingerprint cards on a timely basis. This in turn acts as an
effective deterrent to employee misconduct.
Approximately 5,984 respondents are subject to the recordkeeping
requirements of the rule. Each respondent keeps approximately 62 new
records per year, which takes approximately 2 minutes per record for
the respondent to maintain, for an annual burden of approximately 2
hours per respondent or a total annual burden of approximately 11,968
hours on all respondents, collectively. All records subject to the rule
must be retained for the term of employment plus 3 years.
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 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 Lewis W. Walker, Acting
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: July 7, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-15683 Filed 7-9-08; 8:45 am]
BILLING CODE 8010-01-P
