Proposed Extension of Information Collection; Request for Public Comment for Class Prohibited Transaction Exemption 2006-16, 49022-49023 [E9-23141]

Download as PDF 49022 Federal Register / Vol. 74, No. 185 / Friday, September 25, 2009 / Notices the notice of special enrollment to the Office of Management and Budget (OMB) for review under the PRA and received approval under OMB Control No. 1210–0101. The ICR approval is currently scheduled to expire on December 31, 2009. II. Desired Focus of Comments jlentini on DSKJ8SOYB1PROD with NOTICES III. Current Action This notice requests comments on an extension of information collections arising from the notice of special enrollment required under 29 CFR 2590.701–6. The Department is not proposing or implementing changes to the existing information collection at this time. A summary of the ICR and the current burden estimates follows: Agency: Department of Labor, Employee Benefits Security Administration. Title: Notice of Special Enrollment. Type of Review: Extension of a currently approved collection of information. OMB Number: 1210–0101. Affected Public: Business or other forprofit; Not-for-profit institutions. Frequency of Response: On occasion. Respondents: 2,600,000. Responses: 8,568,282. Total Estimated Burden Hours: 1. Total Burden Cost (Operating and Maintenance): $77,115. Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval of the extension of this ICR; they will also become a matter of public record. 20:07 Sep 24, 2009 Jkt 217001 BILLING CODE 4510–20–P DEPARTMENT OF LABOR The Department is particularly interested in comments that: • Evaluate whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; • Evaluate the accuracy of the agency’s estimate of the burden of the collection of information, including the validity of the methodology and assumptions used; • Enhance the quality, utility, and clarity of the information to be collected; and • Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., by permitting electronic submission of responses. VerDate Nov<24>2008 Dated: September 21, 2009. Joseph S. Piacentini, Director, Office of Policy and Research, Employee Benefits Security Administration. [FR Doc. E9–23137 Filed 9–24–09; 8:45 am] I. Background Employee Benefits Security Administration Proposed Extension of Information Collection; Request for Public Comment for Class Prohibited Transaction Exemption 2006–16 ACTION: Notice. SUMMARY: The Department of Labor (Department), as part of its continuing effort to reduce paperwork and respondent burden, conducts a preclearance consultation program to provide the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information in accordance with the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)). This program helps to ensure that the data the Department gathers can be provided in the desired format, that the reporting burden on the public (time and financial resources) is minimized, that the public understands the Department’s collection instruments, and that the Department can accurately assess the impact of collection requirements on respondents. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments concerning the extension of currently approved collections of information arising from Class Prohibited Transaction Exemption 2006–16, which permits employee benefit plans to lend securities owned by the plans as investments to banks and broker-dealers and to make compensation arrangements for lending services provided by a plan fiduciary in connection with securities loans. A copy of the information collection request (ICR) can be obtained by contacting the office shown in the ADDRESSES section of this notice. DATES: Written comments must be submitted to the office shown in the ADDRESSES section of this notice on or before November 24, 2009. ADDRESSES: Interested parties are invited to submit written comments regarding the information collection request and burden estimates to G. Christopher Cosby, Office of Policy and Research, Employee Benefits Security Administration, U.S. Department of PO 00000 Frm 00122 Fmt 4703 Sfmt 4703 Labor, 200 Constitution Avenue, NW., Room N–5718, Washington, DC 20210, (202) 693–8410, FAX (202) 219–4745 (these are not toll-free numbers). Comments may also be submitted electronically to the following Internet e-mail address: ebsa.opr@dol.gov. SUPPLEMENTARY INFORMATION: This ICR covers information collections contained in PTE 2006–16. In 1981 and 1982, the Department issued two related prohibited transaction class exemptions, PTE 81–6 and PTE 82–63, that permit employee benefit plans to lend securities owned by the plans as investments to banks and broker-dealers and to make compensation arrangements for lending services provided by a plan fiduciary in connection with securities loans. In 2006, the Department promulgated PTE 2006–16, which combines and amends the exemptions previously provided under PTE 81–6 and PTE 82–63. The new exemption expands the categories of exempted transactions to include securities lending to foreign banks and broker-dealers that are domiciled in specified countries and to allow the use of additional forms of collateral, all subject to specified conditions. Among other conditions, the class exemption requires that a bank or broker-dealer that borrows securities from a plan must provide the plan with its most recent audited financial statement. The borrower must also affirm, when the loan is negotiated, that there has been no material adverse change in its financial condition since the previously audited statement. The exemption also requires that the agreements regarding the securities loan transaction or transactions and the compensation arrangement for the lending fiduciary must be contained in written documents. Individual agreements are not required for each transaction; rather the compensation agreement may be made in the form of a master agreement covering a series of transactions. The ICRs contained in PTE 2006–16 were approved by the Office of Management and Budget (OMB) under OMB Control No. 1210–0065, which currently is scheduled to expire on December 31, 2009. II. Desired Focus of Comments The Department is particularly interested in comments that: • Evaluate whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; E:\FR\FM\25SEN1.SGM 25SEN1 Federal Register / Vol. 74, No. 185 / Friday, September 25, 2009 / Notices • Evaluate the accuracy of the agency’s estimate of the burden of the collection of information, including the validity of the methodology and assumptions used; • Enhance the quality, utility, and clarity of the information to be collected; and • Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., by permitting electronic submission of responses. III. Current Action This notice requests comments on an extension of the information collections arising from PTE 2006–16. The Department is not proposing or implementing any changes to the information collections at this time. A summary of the ICR and the current burden estimates follows: Agency: Department of Labor, Employee Benefits Security Administration. Title: PTE 2006–16 (Securities Lending by Employee Benefit Plans). Type of Review: Extension of a currently approved collection of information. OMB Number: 1210–0065. Affected Public: Business or other forprofit; Not-for-profit institutions. Frequency of Response: On occasion. Respondents: 200. Responses: 10,000. Total Estimated Burden Hours: 367. Total Burden Cost (Operating and Maintenance): $11,200. Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval of the extension of this ICR; they will also become a matter of public record. Dated: September 21, 2009. Joseph S. Piacentini, Director, Office of Policy and Research, Employee Benefits Security Administration. [FR Doc. E9–23141 Filed 9–24–09; 8:45 am] BILLING CODE 4510–20–P DEPARTMENT OF LABOR jlentini on DSKJ8SOYB1PROD with NOTICES Bureau of Labor Statistics Proposed Collection, Comment Request ACTION: Notice. SUMMARY: The Department of Labor, as part of its continuing effort to reduce VerDate Nov<24>2008 18:52 Sep 24, 2009 Jkt 217001 paperwork and respondent burden, conducts a pre-clearance consultation program to provide the general public and Federal agencies with an opportunity to comment on proposed and/or continuing collections of information in accordance with the Paperwork Reduction Act of 1995 (PRA95) [44 U.S.C. 3506(c)(2)(A)). This program helps to ensure that requested data can be provided in the desired format, reporting burden (time and financial resources) is minimized, collection instruments are clearly understood, and the impact of collection requirements on respondents can be properly assessed. The Bureau of Labor Statistics (BLS) is soliciting comments concerning the proposed revision of the ‘‘International Training Application.’’ A copy of the proposed information collection request (ICR) can be obtained by contacting the individual listed below in the ADDRESSES section of this notice. DATES: Written comments must be submitted to the office listed in the ADDRESSES section of this notice on or before November 24, 2009. Send comments to Nora Kincaid, BLS Clearance Officer, Division of Management Systems, Bureau of Labor Statistics, Room 4080, 2 Massachusetts Avenue, NE., Washington, DC 20212. Written comments also may be transmitted by fax to 202–691–5111 (this is not a toll free number). ADDRESSES: FOR FURTHER INFORMATION CONTACT: Nora Kincaid, BLS Clearance Officer, at 202–691–7628 (this is not a toll free number). (See ADDRESSES section.) SUPPLEMENTARY INFORMATION: I. Background The BLS is one of the largest labor statistics organizations in the world and has provided international training since 1945. Each year, the BLS Division of International Technical Cooperation (DITC) conducts seminars of 1 to 4 weeks duration at its training facilities in Washington, DC. In addition to the annual international seminars, DITC provides technical assistance upon request and organizes visits to the BLS for many international visitors each year. The seminars bring together statisticians, economists, analysts, and other data producers and users from countries all over the world. Each seminar is designed to strengthen the participants’ ability to collect and analyze economic and labor statistics. PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 49023 II. Current Action Office of Management and Budget clearance is being sought for the International Training Application. BLS is adding a question to the form regarding the need for accommodations. This question will help to facilitate assisting the visitors with accommodations for their stay if needed. III. Desired Focus of Comments The Bureau of Labor Statistics is particularly interested in comments that: • Evaluate 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. • Evaluate the accuracy of the agency’s estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used. • Enhance the quality, utility, and clarity of the information to be collected. • Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., permitting electronic submissions of responses. Type of Review: Revision. Agency: Bureau of Labor Statistics. Title: International Training Application. OMB Number: 1220–0179. Affected Public: Individuals or households. Total Respondents: 100. Frequency: On occasion. Total Responses: 100. Average Time per Response: 20 minutes. Estimated Total Burden Hours: 34 hours. Total Burden Cost (capital/startup): $0. Total Burden Cost (operating/ maintenance): $0. Comments submitted in response to this notice will be summarized and/or included in the request for Office of Management and Budget approval of the information collection request; they also will become a matter of public record. Signed at Washington, DC, this 17th day of September 2009. Kimberley D. Hill, Acting Chief, Division of Management Systems, Bureau of Labor Statistics. [FR Doc. E9–23149 Filed 9–24–09; 8:45 am] BILLING CODE 4510–24–P E:\FR\FM\25SEN1.SGM 25SEN1

Agencies

[Federal Register Volume 74, Number 185 (Friday, September 25, 2009)]
[Notices]
[Pages 49022-49023]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-23141]


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

DEPARTMENT OF LABOR

Employee Benefits Security Administration


Proposed Extension of Information Collection; Request for Public 
Comment for Class Prohibited Transaction Exemption 2006-16

ACTION: Notice.

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

SUMMARY: The Department of Labor (Department), as part of its 
continuing effort to reduce paperwork and respondent burden, conducts a 
preclearance consultation program to provide the general public and 
Federal agencies with an opportunity to comment on proposed and 
continuing collections of information in accordance with the Paperwork 
Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)). This program 
helps to ensure that the data the Department gathers can be provided in 
the desired format, that the reporting burden on the public (time and 
financial resources) is minimized, that the public understands the 
Department's collection instruments, and that the Department can 
accurately assess the impact of collection requirements on respondents.
    Currently, the Employee Benefits Security Administration (EBSA) is 
soliciting comments concerning the extension of currently approved 
collections of information arising from Class Prohibited Transaction 
Exemption 2006-16, which permits employee benefit plans to lend 
securities owned by the plans as investments to banks and broker-
dealers and to make compensation arrangements for lending services 
provided by a plan fiduciary in connection with securities loans. A 
copy of the information collection request (ICR) can be obtained by 
contacting the office shown in the ADDRESSES section of this notice.

DATES: Written comments must be submitted to the office shown in the 
ADDRESSES section of this notice on or before November 24, 2009.

ADDRESSES: Interested parties are invited to submit written comments 
regarding the information collection request and burden estimates to G. 
Christopher Cosby, Office of Policy and Research, Employee Benefits 
Security Administration, U.S. Department of Labor, 200 Constitution 
Avenue, NW., Room N-5718, Washington, DC 20210, (202) 693-8410, FAX 
(202) 219-4745 (these are not toll-free numbers). Comments may also be 
submitted electronically to the following Internet e-mail address: 
ebsa.opr@dol.gov.

SUPPLEMENTARY INFORMATION:

I. Background

    This ICR covers information collections contained in PTE 2006-16. 
In 1981 and 1982, the Department issued two related prohibited 
transaction class exemptions, PTE 81-6 and PTE 82-63, that permit 
employee benefit plans to lend securities owned by the plans as 
investments to banks and broker-dealers and to make compensation 
arrangements for lending services provided by a plan fiduciary in 
connection with securities loans. In 2006, the Department promulgated 
PTE 2006-16, which combines and amends the exemptions previously 
provided under PTE 81-6 and PTE 82-63. The new exemption expands the 
categories of exempted transactions to include securities lending to 
foreign banks and broker-dealers that are domiciled in specified 
countries and to allow the use of additional forms of collateral, all 
subject to specified conditions.
    Among other conditions, the class exemption requires that a bank or 
broker-dealer that borrows securities from a plan must provide the plan 
with its most recent audited financial statement. The borrower must 
also affirm, when the loan is negotiated, that there has been no 
material adverse change in its financial condition since the previously 
audited statement.
    The exemption also requires that the agreements regarding the 
securities loan transaction or transactions and the compensation 
arrangement for the lending fiduciary must be contained in written 
documents. Individual agreements are not required for each transaction; 
rather the compensation agreement may be made in the form of a master 
agreement covering a series of transactions. The ICRs contained in PTE 
2006-16 were approved by the Office of Management and Budget (OMB) 
under OMB Control No. 1210-0065, which currently is scheduled to expire 
on December 31, 2009.

II. Desired Focus of Comments

    The Department is particularly interested in comments that:
     Evaluate whether the collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility;

[[Page 49023]]

     Evaluate the accuracy of the agency's estimate of the 
burden of the collection of information, including the validity of the 
methodology and assumptions used;
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Minimize the burden of the collection of information on 
those who are to respond, including through the use of appropriate 
automated, electronic, mechanical, or other technological collection 
techniques or other forms of information technology, e.g., by 
permitting electronic submission of responses.

III. Current Action

    This notice requests comments on an extension of the information 
collections arising from PTE 2006-16. The Department is not proposing 
or implementing any changes to the information collections at this 
time. A summary of the ICR and the current burden estimates follows:
    Agency: Department of Labor, Employee Benefits Security 
Administration.
    Title: PTE 2006-16 (Securities Lending by Employee Benefit Plans).
    Type of Review: Extension of a currently approved collection of 
information.
    OMB Number: 1210-0065.
    Affected Public: Business or other for-profit; Not-for-profit 
institutions.
    Frequency of Response: On occasion.
    Respondents: 200.
    Responses: 10,000.
    Total Estimated Burden Hours: 367.
    Total Burden Cost (Operating and Maintenance): $11,200.
    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval of the extension of 
this ICR; they will also become a matter of public record.

    Dated: September 21, 2009.
Joseph S. Piacentini,
Director, Office of Policy and Research, Employee Benefits Security 
Administration.
[FR Doc. E9-23141 Filed 9-24-09; 8:45 am]
BILLING CODE 4510-20-P