Submission for OMB Review; Comment Request, 476-477 [E8-31358]

Download as PDF mstockstill on PROD1PC66 with NOTICES 476 Federal Register / Vol. 74, No. 3 / Tuesday, January 6, 2009 / Notices 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. Regulation Blackout Trade Restriction (‘‘Regulation BTR’’) (17 CFR 245.100– 245.104) clarifies the scope and application of Section 306(a) of the Sarbanes-Oxley Act of 2002 (‘‘Act’’) (15 U.S.C. 7244(a)). Section 306(a)(6) (15 U.S.C. 7244(a)(6)) of the Act requires an issuer to provide timely notice to its directors and executive officers and to the Commission of the imposition of a blackout period that would trigger the statutory trading prohibition of Section 306(a)(1) (15 U.S.C. 7244(a)(1)). The information provided under Regulation BTR is mandatory and is available to the public. Approximately 1,230 issuers file Regulation BTR notices annually. We estimate that it takes 2 hours per response for an issuer to draft a notice to directors and executive officers for a total annual burden of 2,460 hours. The issuer prepares 75% of the 2,460 annual burden hours for a total reporting burden of (1,230 × 2 hrs × .75) 1,845 hours. In addition, we estimate that an issuer distributes a notice to five directors and executive officers at an estimated 5 minutes per notice (1,230 blackout period × 5 notices × 5 minutes) for a total reporting burden of 512 hours. The combined annual reporting burden is (1,845 hours + 512 hours) 2,357 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 Shagufta_Ahmed@omb.eop.gov; and (ii) Charles Boucher, 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. Comments must be submitted to OMB within 30 days of this notice. Dated: December 29, 2008. Florence E. Harmon, Acting Secretary. [FR Doc. E8–31356 Filed 1–5–09; 8:45 am] BILLING CODE 8011–01–P VerDate Nov<24>2008 16:52 Jan 05, 2009 Jkt 217001 SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request BILLING CODE 8011–01–P Upon written request, copies available from: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Regulation G; OMB Control No. 3235– 0576; SEC File No. 270–518. 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. Regulation G (17 CFR 244.100— 244.102) under the Securities Exchange Act of 1934 (the ‘‘Exchange Act’’) (15 U.S.C. 78a et seq.) requires registrants that publicly disclose material information that includes a non-GAAP financial measure to provide a reconciliation to the most directly comparable GAAP financial measure. Regulation G implemented the requirements of Section 401 of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7261; 78m). The information provided under Regulation G is mandatory and is available to the public. We estimate that approximately 14,000 public companies must comply with Regulation G approximately six times a year for a total of 84,000 responses annually. We estimated that it takes approximately .5 hours per response (84,000 × .5 hours) for a total reporting burden of 42,000 hours annually. 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 Shagufta_Ahmed@omb.eop.gov; and (ii) Charles Boucher, 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. Comments must be submitted to OMB within 30 days of this notice. PO 00000 Frm 00049 Fmt 4703 Sfmt 4703 Dated: December 29, 2008. Florence E. Harmon, Acting Secretary. [FR Doc. E8–31357 Filed 1–5–09; 8:45 am] 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 15c2–7; OMB Control No. 3235–0479; SEC File No. 270–420. 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 (‘‘OMB’’) a request for approval of extension of the existing collection of information provided for in the following rule: Rule 15c2–7 (17 CFR 240.15c2–7). Rule 15c2–7 places disclosure requirements on broker-dealers who have correspondent relationships, or agreements identified in the rule, with other broker-dealers. Whenever any such broker-dealer enters a quotation for a security through an inter-dealer quotation system, Rule 15c2–7 requires the broker-dealer to disclose these relationships and agreements in the manner required by the rule. The interdealer quotation system must also be able to make these disclosures public in association with the quotation the broker-dealer is making. When Rule 15c2–7 was adopted in 1964, the information it requires was necessary for execution of the Commission’s mandate under the Securities Exchange Act of 1934 to prevent fraudulent, manipulative and deceptive acts by broker-dealers. In the absence of the information collection required under Rule 15c2–7, investors and broker-dealers would have been unable to accurately determine the market depth of, and demand for, securities in an inter-dealer quotation system. There are approximately 5,808 brokerdealers registered with the Commission. Any of these broker-dealers could be potential respondents for Rule 15c2–7, so the Commission is using that number as the number of respondents. Rule 15c2–7 applies only to quotations entered into an inter-dealer quotation E:\FR\FM\06JAN1.SGM 06JAN1 Federal Register / Vol. 74, No. 3 / Tuesday, January 6, 2009 / Notices mstockstill on PROD1PC66 with NOTICES system, such as the OTC Bulletin Board (‘‘OTCBB’’) or the Pink Sheets, operated by Pink OTC Markets, Inc. According to representatives of both Pink Sheets and the OTCBB, neither entity has recently received, or anticipates receiving any Rule 15c2–7 notices. However, because such notices could be made, the Commission estimates that one filing is made annually pursuant to Rule 15c2– 7. Based on prior industry reports, the Commission estimates that the average time required to enter a disclosure pursuant to the rule is .75 minutes, or 45 seconds. The Commission sees no reason to change this estimate. We estimate that impacted respondents spend a total of .0125 hours per year to comply with the requirements of Rule 15c2–7 (1 notice (×) 45 seconds/notice). The Commission estimates that a typical employee of a broker-dealer charged to ensure compliance with Commission regulations receives annual compensation of $128,960. This compensation is the equivalent of $62.00 per hour ($128,960 divided by 2,080 payroll hours per year). Thus, the Commission estimates that the annual cost burden of compliance with Rule 15c2–7 is $0.78 ($62.00/hour multiplied by 0.0125 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: Shagufta_Ahmed@omb.eop.gov; and (ii) Charles Boucher, 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: December 29, 2008. Florence E. Harmon, Acting Secretary. [FR Doc. E8–31358 Filed 1–5–09; 8:45 am] BILLING CODE 8011–01–P VerDate Nov<24>2008 16:52 Jan 05, 2009 Jkt 217001 SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 28574; 812–13499] Franklin Templeton Fund Allocator Series, et al.; Notice of Application December 29, 2008. AGENCY: Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice of application for an order under section 17(d) of the Investment Company Act of 1940 (‘‘Act’’) and rule 17d–1 under the Act. SUMMARY OF APPLICATION: Applicants request an order to permit certain registered open-end investment companies in the same group of investment companies to enter into a special servicing agreement (‘‘Special Servicing Agreement’’). APPLICANTS: Franklin Templeton Fund Allocator Series, Franklin Capital Growth Fund, Franklin Gold and Precious Metals Fund, Franklin Custodian Funds, Franklin Value Investors Trust, Franklin Mutual Series Funds, Templeton China World Fund, Templeton Developing Markets Trust, Templeton Funds, Franklin Templeton International Trust, Templeton Global Smaller Companies Fund, Franklin High Income Trust, Franklin Investors Securities Trust, Franklin Real Estate Securities Trust, Franklin Strategic Series, Franklin Strategic Mortgage Portfolio, Franklin Templeton Global Trust, Templeton Income Trust, Franklin Global Trust, Templeton Growth Fund, Inc., Institutional Fiduciary Trust (each, a ‘‘Franklin Templeton Fund’’ and collectively, the ‘‘Franklin Templeton Funds’’), Franklin Advisers, Inc. (‘‘Franklin Advisers’’), Franklin Templeton Institutional, LLC, Franklin Templeton Investments Corp., Franklin Investment Advisory Services, LLC, Franklin Advisory Services, LLC, Franklin Mutual Advisers, LLC, Templeton Asset Management Ltd., Templeton Global Advisors Limited, Templeton Investment Counsel, LLC, Franklin Templeton Investment Management Limited (the ‘‘Underlying Fund Advisers’’ and, together with Franklin Advisers, the ‘‘Advisers’’), Franklin/Templeton Distributors, Inc. (‘‘FTD’’), Franklin Templeton Services, LLC (‘‘FTS’’), and each existing or future registered open-end management investment company or series thereof that is part of the same ‘‘group of investment companies’’ as the Franklin Templeton Funds under section 12(d)(1)(G)(ii) of the Act and (i) is advised by Franklin Advisers or any PO 00000 Frm 00050 Fmt 4703 Sfmt 4703 477 entity controlling, controlled by, or under common control with Franklin Advisers, or (ii) for which FTD or any entity controlling, controlled by, or under common control with FTD serves as principal underwriter (such investment companies or series thereof, together with the Franklin Templeton Funds and their series, the ‘‘Funds’’).1 FILING DATES: The application was filed on February 25, 2008, and amended on December 19, 2008. HEARING OR NOTIFICATION OF HEARING: An order granting the application will be issued unless the Commission orders a hearing. Interested persons may request a hearing by writing to the Commission’s Secretary and serving applicants with a copy of the request, personally or by mail. Hearing requests should be received by the Commission by 5:30 p.m. on January 23, 2009, and should be accompanied by proof of service on applicants, in the form of an affidavit or, for lawyers, a certificate of service. Hearing requests should state the nature of the writer’s interest, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by writing to the Commission’s Secretary. ADDRESSES: Secretary, U.S. Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549– 1090; Applicants, One Franklin Parkway, San Mateo, CA 94403–1906. FOR FURTHER INFORMATION CONTACT: John Yoder, Senior Counsel, at (202) 551– 6878, or Mary Kay Frech, Branch Chief, at (202) 551–6821 (Division of Investment Management, Office of Investment Company Regulation). SUPPLEMENTARY INFORMATION: The following is a summary of the application. The complete application may be obtained for a fee at the Public Reference Room, U.S. Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1520, telephone (202) 551–5850. Applicants’ Representations 1. The Advisers are investment advisers registered under the Investment Advisers Act of 1940 and are under common control of Franklin Resources, Inc. Franklin Advisers provides investment management and related administrative services to the Top-Tier Funds (as defined below) and certain of the Underlying Funds (as defined below). The Underlying Fund Advisers 1 All entities that currently intend to rely on the order have been named as applicants. Any other entity that relies on the order in the future will comply with the terms and conditions of the application. E:\FR\FM\06JAN1.SGM 06JAN1

Agencies

[Federal Register Volume 74, Number 3 (Tuesday, January 6, 2009)]
[Notices]
[Pages 476-477]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-31358]


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

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 15c2-7; OMB Control No. 3235-0479; SEC File No. 270-420.

    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 (``OMB'') a request for approval of extension of the 
existing collection of information provided for in the following rule: 
Rule 15c2-7 (17 CFR 240.15c2-7).
    Rule 15c2-7 places disclosure requirements on broker-dealers who 
have correspondent relationships, or agreements identified in the rule, 
with other broker-dealers. Whenever any such broker-dealer enters a 
quotation for a security through an inter-dealer quotation system, Rule 
15c2-7 requires the broker-dealer to disclose these relationships and 
agreements in the manner required by the rule. The inter-dealer 
quotation system must also be able to make these disclosures public in 
association with the quotation the broker-dealer is making.
    When Rule 15c2-7 was adopted in 1964, the information it requires 
was necessary for execution of the Commission's mandate under the 
Securities Exchange Act of 1934 to prevent fraudulent, manipulative and 
deceptive acts by broker-dealers. In the absence of the information 
collection required under Rule 15c2-7, investors and broker-dealers 
would have been unable to accurately determine the market depth of, and 
demand for, securities in an inter-dealer quotation system.
    There are approximately 5,808 broker-dealers registered with the 
Commission. Any of these broker-dealers could be potential respondents 
for Rule 15c2-7, so the Commission is using that number as the number 
of respondents. Rule 15c2-7 applies only to quotations entered into an 
inter-dealer quotation

[[Page 477]]

system, such as the OTC Bulletin Board (``OTCBB'') or the Pink Sheets, 
operated by Pink OTC Markets, Inc. According to representatives of both 
Pink Sheets and the OTCBB, neither entity has recently received, or 
anticipates receiving any Rule 15c2-7 notices. However, because such 
notices could be made, the Commission estimates that one filing is made 
annually pursuant to Rule 15c2-7.
    Based on prior industry reports, the Commission estimates that the 
average time required to enter a disclosure pursuant to the rule is .75 
minutes, or 45 seconds. The Commission sees no reason to change this 
estimate. We estimate that impacted respondents spend a total of .0125 
hours per year to comply with the requirements of Rule 15c2-7 (1 notice 
(x) 45 seconds/notice). The Commission estimates that a typical 
employee of a broker-dealer charged to ensure compliance with 
Commission regulations receives annual compensation of $128,960. This 
compensation is the equivalent of $62.00 per hour ($128,960 divided by 
2,080 payroll hours per year). Thus, the Commission estimates that the 
annual cost burden of compliance with Rule 15c2-7 is $0.78 ($62.00/hour 
multiplied by 0.0125 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: Shagufta_
Ahmed@omb.eop.gov; and (ii) Charles Boucher, 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: December 29, 2008.
Florence E. Harmon,
Acting Secretary.
 [FR Doc. E8-31358 Filed 1-5-09; 8:45 am]
BILLING CODE 8011-01-P
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