Submission for OMB Review; Comment Request, 53296-53297 [E8-21406]
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53296
Federal Register / Vol. 73, No. 179 / Monday, September 15, 2008 / Notices
Dated: September 9, 2008.
Karen A. Cook,
General Counsel.
[FR Doc. E8–21399 Filed 9–12–08; 8:45 am]
BILLING CODE 4310–4R–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.
mstockstill on PROD1PC66 with NOTICES
Extension: Rule 22d–1, Sec File No. 270–275,
OMB Control No. 3235–0310.
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501–3520), the Securities
and Exchange Commission (the
‘‘Commission’’) is soliciting comments
on the collections 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 22d–1 under the Investment
Company Act of 1940 (the ‘‘Act’’) (17
CFR 270.22d–1) provides registered
investment companies that issue
redeemable securities (‘‘funds’’) an
exemption from section 22(d) of the
Investment Company Act (15 U.S.C.
80a–22(d)) to the extent necessary to
permit scheduled variations in or
elimination of the sales load on fund
securities for particular classes of
investors or transactions, provided
certain conditions are met. The rule
imposes an annual burden per series of
a fund of approximately 15 minutes, so
that the total annual burden for the
approximately 4,735 series of funds that
might rely on the rule is estimated to be
1,184 hours.
The estimate of average burden hours
is made solely for the purposes of the
Paperwork Reduction Act, and is not
derived from a comprehensive or even
a representative survey or study. 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 OMB control
number.
Written comments are requested 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(s) of the collection of
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20:22 Sep 12, 2008
Jkt 214001
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.
Dated: September 8, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–21405 Filed 9–12–08; 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 17Ab2–1, Form CA–1, SEC File No.
270–203, OMB Control No. 3235–0195.
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
following previously approved
collection of information as discussed
below.
• Rule 17Ab2–1 and Form CA–1:
Registration of Clearing Agencies (17
CFR 240.17Ab2–1)
Rule 17Ab2–1 and Form CA–1 require
clearing agencies to register with the
Commission and to meet certain
requirements with regard to, among
other things, a clearing agency’s
organization, capacities, and rules. The
information is collected from the
clearing agency upon the initial
application for registration on Form
CA–1. Thereafter, information is
collected by amendment to the initial
Form CA–1 when material changes in
circumstances necessitate modification
of the information previously provided
to the Commission.
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Frm 00109
Fmt 4703
Sfmt 4703
The Commission uses the information
disclosed on Form CA–1 to (i)
Determine whether an applicant meets
the standards for registration set forth in
Section 17A of the Securities Exchange
Act of 1934 (‘‘Exchange Act’’), (ii)
enforce compliance with the Exchange
Act’s registration requirement, and (iii)
provide information about specific
registered clearing agencies for
compliance and investigatory purposes.
Without Rule 17Ab2–1, the Commission
could not perform these duties as
statutorily required.
There are currently approximately six
operational clearing agencies and five
clearing agencies that have been granted
an exemption from registration. The
Commission staff estimates that each
initial Form CA–1 requires
approximately 130 hours to complete
and submit for approval. Hours required
for amendments to Form CA–1 that
must be submitted to the Commission in
connection with material changes to the
initial CA–1 can vary, depending upon
the nature and extent of the amendment.
Since the Commission only receives an
average of one submission per year, the
aggregate annual burden associated with
compliance with Rule 17Ab2–1 and
Form CA–1 is 130 hours. Based upon
the staff’s experience, the average cost to
clearing agencies of preparing and filing
the initial Form CA–1 is estimated to be
$18,000. There is no recordkeeping
requirement for Rule 17Ab2–1 or Form
CA–1. The rule and form do not involve
the collection of confidential
information. Please note that 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.
General comments regarding the
estimated burden hours 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:
Kimberly_P._Nelson@omb.eop.gov; and
(ii) Lewis W. Walker, Acting Director/
Chief Information Officer, Securities
and Exchange Commission, C/O Shirley
Martinson, 6432 General Green Way,
Alexandria, Virginia 22312; or by
sending an e-mail to:
PRA_Mailbox@sec.gov. Comments must
be submitted to OMB within 30 days of
this notice.
E:\FR\FM\15SEN1.SGM
15SEN1
Federal Register / Vol. 73, No. 179 / Monday, September 15, 2008 / Notices
Dated: September 8, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–21406 Filed 9–12–08; 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.
mstockstill on PROD1PC66 with NOTICES
Extension: Rule 17Ad–3(b), SEC File No.
270–424, OMB Control No. 3235–0473.
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
following previously approved
collection of information as discussed
below.
• Rule 17Ad–3(b) (17 CFR 240.17Ad–
3(b)).
Rule 17Ad–3(b) requires registered
transfer agents that for each of two
consecutive months have failed to
turnaround at least 75% of all routine
items in accordance with the
requirements of Rule 17Ad–2(a) or to
process at least 75% of all routine items
in accordance with the requirements of
Rule 17Ad–2(a) to send to the chief
executive officer of each issuer for
which such registered transfer agent acts
a copy of the written notice required
under Rule 17Ad–2(c), (d), and (h). The
issuer may use the information
contained in the notices in several ways:
(1) to provide an early warning to the
issuer of the transfer agent’s noncompliance with the Commission’s
minimum performance standards
regarding registered transfer agents, and
(2) to assure that issuers are aware of
certain problems and poor performances
with respect to the transfer agents that
are servicing the issuer’s securities. If
the issuer does not receive notice of a
registered transfer agent’s failure to
comply with the Commission’s
minimum performance standards then
the issuer will be unable to take
remedial action to correct the problem
or to find another registered transfer
agent. Pursuant to Rule 17Ad–3(b), a
transfer agent that has already filed a
Notice of Non-Compliance with the
Commission pursuant to Rule 17Ad–2
will only be required to send a copy of
that notice to issuers for which it acts
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20:22 Sep 12, 2008
Jkt 214001
when that transfer agent fails to
turnaround 75% of all routine items or
to process 75% of all items.
The Commission estimates that only
two transfer agents will meet the
requirements of Rule 17Ad–3(b). If a
transfer agent fails to meet the minimum
requirements under 17Ad–3(b), such
transfer agent is simply sending a copy
of a form that had already been
produced for the Commission. The
Commission estimates a requirement
will take each respondent
approximately one hour to complete, for
a total annual estimate burden of two
hours at cost of approximately $60.00
for each hour. Please note that 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.
General comments regarding the
estimated burden hours 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:
Kimberly_P._Nelson@omb.eop.gov; and
(ii) Lewis W. Walker, Acting Director/
Chief Information Officer, Securities
and Exchange Commission, C/O Shirley
Martinson, 6432 General Green Way,
Alexandria, Virginia 22312; or by
sending an e-mail to:
PRA_Mailbox@sec.gov. Comments must
be submitted to OMB within 30 days of
this notice.
Dated: September 8, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–21407 Filed 9–12–08; 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.
Extension: Rule 32a–4, SEC File No. 270–
473, OMB Control No. 3235–0530.
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 collections of information
summarized below. The Commission
PO 00000
Frm 00110
Fmt 4703
Sfmt 4703
53297
plans to submit these existing
collections of information to the Office
of Management and Budget (‘‘OMB’’) for
extension and approval.
Section 32(a)(2) of the Investment
Company Act (15 U.S.C. 80a–31(a)(2))
requires that shareholders of a registered
investment management or face-amount
certificate company (‘‘fund’’) ratify or
reject the selection of a fund’s
independent public accountant. Rule
32a–4 (17 CFR 270.32a–4) exempts a
fund from this requirement if (i) the
fund’s board of directors establishes an
audit committee composed solely of
independent directors with
responsibility for overseeing the fund’s
accounting and auditing processes,1 (ii)
the fund’s board of directors adopts an
audit committee charter setting forth the
committee’s structure, duties, powers
and methods of operation, or sets out
similar provisions in the fund’s charter
or bylaws,2 and (iii) the fund maintains
a copy of such an audit committee
charter permanently in an easily
accessible place.3
Each fund that chooses to rely on rule
32a–4 incurs two collections of
information burdens. The first, related
to the board of directors’ adoption of the
audit committee charter, occurs once,
when the committee is established. The
second, related to the fund’s
maintenance and preservation of a copy
of the charter in an easily accessible
place, is an ongoing annual burden. The
information collection requirement in
rule 32a–4 enables the Commission to
monitor the duties and responsibilities
of an independent audit committee
formed by a fund relying on the rule.
Commission staff estimates that, on
average, the board of directors takes 15
minutes to adopt the audit committee
charter. Commission staff has estimated
that with an average of 8 directors on
the board,4 total director time to adopt
the charter is 2 hours. Combined with
an estimated 1 hour of paralegal time to
prepare the charter for board review, the
staff estimates a total one-time
collection of information burden of 3
hours for each fund. Once a board
adopts an audit committee charter, a
fund generally maintains it in a file
cabinet or as a computer file.
Commission staff has estimated that
there is no annual hourly burden
1 Rule
32a–4(a).
32a–4(b).
3 Rule 32a–4(c).
4 This estimate is based on staff discussions with
a representative of an entity that surveys funds and
calculates fund board statistics based on responses
to its surveys.
2 Rule
E:\FR\FM\15SEN1.SGM
15SEN1
]]>Agencies
[Federal Register Volume 73, Number 179 (Monday, September 15, 2008)]
[Notices]
[Pages 53296-53297]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-21406]
-----------------------------------------------------------------------
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 17Ab2-1, Form CA-1, SEC File No. 270-203, OMB Control No.
3235-0195.
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 following
previously approved collection of information as discussed below.
Rule 17Ab2-1 and Form CA-1: Registration of Clearing Agencies
(17 CFR 240.17Ab2-1)
Rule 17Ab2-1 and Form CA-1 require clearing agencies to register
with the Commission and to meet certain requirements with regard to,
among other things, a clearing agency's organization, capacities, and
rules. The information is collected from the clearing agency upon the
initial application for registration on Form CA-1. Thereafter,
information is collected by amendment to the initial Form CA-1 when
material changes in circumstances necessitate modification of the
information previously provided to the Commission.
The Commission uses the information disclosed on Form CA-1 to (i)
Determine whether an applicant meets the standards for registration set
forth in Section 17A of the Securities Exchange Act of 1934 (``Exchange
Act''), (ii) enforce compliance with the Exchange Act's registration
requirement, and (iii) provide information about specific registered
clearing agencies for compliance and investigatory purposes. Without
Rule 17Ab2-1, the Commission could not perform these duties as
statutorily required.
There are currently approximately six operational clearing agencies
and five clearing agencies that have been granted an exemption from
registration. The Commission staff estimates that each initial Form CA-
1 requires approximately 130 hours to complete and submit for approval.
Hours required for amendments to Form CA-1 that must be submitted to
the Commission in connection with material changes to the initial CA-1
can vary, depending upon the nature and extent of the amendment. Since
the Commission only receives an average of one submission per year, the
aggregate annual burden associated with compliance with Rule 17Ab2-1
and Form CA-1 is 130 hours. Based upon the staff's experience, the
average cost to clearing agencies of preparing and filing the initial
Form CA-1 is estimated to be $18,000. There is no recordkeeping
requirement for Rule 17Ab2-1 or Form CA-1. The rule and form do not
involve the collection of confidential information. Please note that 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.
General comments regarding the estimated burden hours 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: Kimberly_P._
Nelson@omb.eop.gov; and (ii) Lewis W. Walker, Acting Director/Chief
Information Officer, Securities and Exchange Commission, C/O Shirley
Martinson, 6432 General Green Way, Alexandria, Virginia 22312; or by
sending an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted
to OMB within 30 days of this notice.
[[Page 53297]]
Dated: September 8, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-21406 Filed 9-12-08; 8:45 am]
BILLING CODE 8010-01-P
