Submission for OMB Review; Comment Request, 49906-49907 [E9-23494]
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jlentini on DSKJ8SOYB1PROD with NOTICES
49906
Federal Register / Vol. 74, No. 187 / Tuesday, September 29, 2009 / Notices
industry might be adversely affected.
Requiring the submission of these
reports to the Commission permits us to
verify compliance with securities law
requirements. In addition, Rule 30e–2
permits, under certain conditions,
delivery of a single shareholder report to
investors who share an address
(‘‘householding’’). Specifically, Rule
30e–2 permits householding of annual
and semi-annual reports by UITs to
satisfy the delivery requirements of Rule
30e–2 if, in addition to the other
conditions set forth in the rule, the UIT
has obtained from each applicable
investor written or implied consent to
the householding of shareholder reports
at such address. The rule requires UITs
that wish to household shareholder
reports with implied consent to send a
notice to each applicable investor
stating that the investors in the
household will receive one report in the
future unless the investors provide
contrary instructions. In addition, at
least once a year, UITs relying on the
rule for householding must explain to
investors who have provided written or
implied consent how they can revoke
their consent. Preparing and sending the
initial notice and the annual
explanation of the right to revoke
consent are collections of information
under the Paperwork Reduction Act.
The purpose of the notice and annual
explanation requirements associated
with the householding provisions of the
rule is to ensure that investors who wish
to receive individual copies of
shareholder reports are able to do so.
The Commission estimates that as of
2009, approximately 820 UITs were
subject to the provisions of Rule 30e–2.
The Commission further estimates that
the annual burden associated with Rule
30e–2 is 121 hours for each UIT,
including an estimated 20 hours
associated with the notice requirement
for householding and an estimated 1
hour associated with the explanation of
the right to revoke consent to
householding, for a total of 99,220
burden hours.
In addition to the burden hours, the
Commission estimates that the cost of
contracting for outside services
associated with complying with Rule
30e–2 is $20,000 per respondent (80
hours times $250 per hour for
independent auditor services), for a total
of $16,400,000 ($20,000 per respondent
times 820 respondents).
These estimates are made solely for
the purposes of the Paperwork
Reduction Act, and are not derived from
a comprehensive or even a
representative survey or study of the
costs of Commission rules and forms.
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16:18 Sep 28, 2009
Jkt 217001
The collection of information under
Rule 30e–2 is mandatory. The
information provided under Rule 30e–2
is not kept confidential. 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.
Please direct general comments
regarding the above information to the
following persons: (i) Desk Officer for
the Securities and Exchange
Commission, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503
or send an e-mail to Shagufta Ahmed at
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: September 23, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–23496 Filed 9–28–09; 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 17Ad–4(b) and (c), OMB Control No.
3235–0341, SEC File No. 270–264.
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
provided for in Rule 17Ad–4(b) and (c)
(17 CFR 240.17Ad–4(b) and (c)) of the
Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.).
Rule 17Ad–4(b) and (c) is used to
document when transfer agents are
exempt or no longer exempt from some
of the Commission’s transfer agent rules.
Depending on which federal
government organization is the transfer
agent’s appropriate regulatory agency
(‘‘ARA’’), Rule 17Ad–4(b)(3) requires an
exempt transfer agent to either prepare
and maintain or file a document that
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certifies that the transfer agent qualifies
as exempt under Rule 17Ad–4(b)(1) or
when the transfer agent loses such
exemption.
The ARAs use the information
contained in the notice to determine
whether a registered transfer agent
qualifies for the exemption, to
determine when a registered transfer
agent no longer qualifies for the
exemption, and to determine the extent
that transfer agent is subject to the
Commission’s rules.
The Board of Governors of the Federal
Reserve System (‘‘the Fed’’) receives
approximately two notices of exempt
status and two notices of loss of exempt
status annually. The Federal Deposit
Insurance Corporation (‘‘FDIC’’) also
receives approximately two notices of
exempt status and two notices of loss of
exempt status annually. The
Commission and the Office of the
Comptroller of the Currency (‘‘OCC’’) do
not require transfer agents to file a
notice of exempt status or loss of
exempt status. Instead, transfer agents
whose ARA is the Commission or OCC
need only to prepare and maintain these
notices. The Commission estimates that
approximately ten notices of exempt
status and ten notices of loss of exempt
status are prepared annually by transfer
agents whose ARA is the Commission.
We estimate that the transfer agents for
whom the OCC is their ARA prepare
and maintain approximately five notices
of exempt status and five notices of loss
of exempt status annually. Thus, a total
of approximately thirty-eight notices of
exempt status and loss of exempt status
are prepared and maintained by transfer
agents annually. Of these thirty-eight
notices, approximately eight are filed
with an ARA. Any additional costs
associated with filing such notices
would be limited primarily to postage,
which would be minimal. Since the
Commission estimates that no more
than one-half hour is required to
prepare each notice, the total annual
burden to transfer agents is
approximately nineteen hours. The
average cost per hour is approximately
$30. Therefore, the total cost of
compliance to the transfer agent
industry is about $570.
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.
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
E:\FR\FM\29SEN1.SGM
29SEN1
Federal Register / Vol. 74, No. 187 / Tuesday, September 29, 2009 / Notices
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: September 23, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–23494 Filed 9–28–09; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–60712; File No. SR–NYSE–
2009–97]
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by New York
Stock Exchange LLC Extending Until
October 4, 2009, the Operation of
Interim NYSE Rule 128 Which Permits
the Exchange To Cancel or Adjust
Clearly Erroneous Executions If They
Arise Out of the Use or Operation of
Any Quotation, Execution or
Communication System Owned or
Operated by the Exchange, Including
Those Executions That Occur in the
Event of a System Disruption or
System Malfunction
September 23, 2009.
jlentini on DSKJ8SOYB1PROD with NOTICES
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
September 22, 2009, New York Stock
Exchange LLC (‘‘NYSE’’ or the
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’ or ‘‘SEC’’) the proposed
rule change as described in Items I and
II below, which Items have been
prepared by the Exchange. NYSE has
designated the proposed rule change as
constituting a rule change under Rule
19b–4(f)(6) under the Act,3 which
renders the proposal 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
until October 4, 2009, the operation of
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 17 CFR 240.19b–4(f)(6).
16:18 Sep 28, 2009
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
self-regulatory organization 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 those 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 parts 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 proposes to extend
until October 4, 2009, the operation of
interim NYSE Rule 128 (‘‘Clearly
Erroneous Executions for NYSE
Equities’’) which permits the Exchange
to cancel or adjust clearly erroneous
executions if they arise out of the use or
operation of any quotation, execution or
communication system owned or
operated by the Exchange, including
those executions that occur in the event
of a system disruption or system
malfunction.
Prior to the implementation of NYSE
Rule 128 on January 28, 2008,4 the
NYSE did not have a rule providing the
Exchange with the authority to cancel or
adjust clearly erroneous trades of
securities executed on or through the
systems and facilities of the NYSE.
In order for the NYSE to be consistent
with other national securities exchanges
which have some version of a clearly
erroneous execution rule, the Exchange
is drafting an amended clearly
erroneous rule which will accommodate
such other exchanges but will be
appropriate for the NYSE market model.
4 See Securities Exchange Act Release No. 57323
(February 13, 2008), 73 FR 9371 (February 20, 2008)
(SR–NYSE–2008–09).
2 17
VerDate Nov<24>2008
interim NYSE Rule 128 (‘‘Clearly
Erroneous Executions for NYSE
Equities’’) which permits the Exchange
to cancel or adjust clearly erroneous
executions if they arise out of the use or
operation of any quotation, execution or
communication system owned or
operated by the Exchange, including
those executions that occur in the event
of a system disruption or system
malfunction. The text of the proposed
rule change is available at the Exchange,
the Commission’s Public Reference
Room, and https://www.nyse.com.
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49907
The NYSE notes that the Commission
approved an amended clearly erroneous
execution rule for Nasdaq in May 2008.5
On July 28, 2008, the Exchange filed
with the SEC a request to extend the
operation of interim Rule 128 until
October 1, 2008 6 in order to review the
provisions of Nasdaq’s clearly erroneous
rule and to consider integrating similar
standards into its own amendment to
Rule 128. On October 1, 2008,7 the
Exchange filed with the SEC a further
request to extend the operation of
interim Rule 128 until January 9, 2009
in order to consider integrating similar
standards into the amendment to Rule
128. On January 9, 2009,8 the Exchange
filed with the SEC a request to extend
the operation of interim Rule 128 until
March 9, 2009, indicating that the
Exchange was still in the process of
reviewing the Nasdaq rule with a view
towards incorporating certain
provisions into the amendment of
interim Rule 128.
On February 10, 2009, NYSE Arca
submitted a proposal to the SEC to
amend its clearly erroneous rule. The
NYSE Arca proposed rule differed in
certain respects from the Nasdaq clearly
erroneous rule. On March 9, 2009, the
Exchange filed with the SEC a request
to extend the operation of interim Rule
128 until June 9, 2009 9 to finalize
review of NYSE Arca’s proposed
amended CEE rule, which included
market wide CEE initiatives, to
determine if it was appropriate to
incorporate such provisions into the
Rule 128 amendment.
Thereafter, on April 24, 2009, NYSE
Arca filed a revised rule change with the
Commission to amend its clearly
erroneous rule (NYSE Arca Rule 7.10).10
The Exchange was in the process of
finalizing its review of NYSE Arca’s
revised CEE rule change, which also
included market wide CEE initiatives, to
determine if it was appropriate to
incorporate all such provisions into
NYSE’s interim Rule 128 amendment.
On June 9, 2009, the Exchange filed
with the SEC a request to extend the
5 See Securities Exchange Act Release No. 57826
(May 15, 2008), 73 FR 29802 (May 22, 2008) (SR–
NASDAQ–2007–001).
6 See Securities Exchange Act Release No. 58328
(August 8, 2008), 73 FR 47247 (August 13, 2008)
(SR–NYSE–2008–63).
7 See Securities Exchange Act Release No. 58732
(October 3, 2008), 73 FR 61183 (October 15, 2008)
(SR–NYSE–2008–99).
8 See Securities Exchange Act Release No. 59255
(January 15, 2009) 74 FR 4496 (January 26, 2009)
(SR–NYSE–2009–02).
9 See Securities Exchange Act Release No. 59581
(March 9, 2009) 74 FR 12431 (March 24, 2009) (SR–
NYSE–2009–26).
10 See Securities Exchange Act Release No. 59838
(April 28, 2009) 74 FR 20767 (May 5, 2009) (SR–
NYSEArca-2009–36) (See NYSE Arca Rule 7.10).
E:\FR\FM\29SEN1.SGM
29SEN1
]]>Agencies
[Federal Register Volume 74, Number 187 (Tuesday, September 29, 2009)]
[Notices]
[Pages 49906-49907]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-23494]
-----------------------------------------------------------------------
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 17Ad-4(b) and (c), OMB Control No. 3235-0341, SEC File No.
270-264.
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 provided for in Rule 17Ad-4(b) and (c) (17
CFR 240.17Ad-4(b) and (c)) of the Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.).
Rule 17Ad-4(b) and (c) is used to document when transfer agents are
exempt or no longer exempt from some of the Commission's transfer agent
rules. Depending on which federal government organization is the
transfer agent's appropriate regulatory agency (``ARA''), Rule 17Ad-
4(b)(3) requires an exempt transfer agent to either prepare and
maintain or file a document that certifies that the transfer agent
qualifies as exempt under Rule 17Ad-4(b)(1) or when the transfer agent
loses such exemption.
The ARAs use the information contained in the notice to determine
whether a registered transfer agent qualifies for the exemption, to
determine when a registered transfer agent no longer qualifies for the
exemption, and to determine the extent that transfer agent is subject
to the Commission's rules.
The Board of Governors of the Federal Reserve System (``the Fed'')
receives approximately two notices of exempt status and two notices of
loss of exempt status annually. The Federal Deposit Insurance
Corporation (``FDIC'') also receives approximately two notices of
exempt status and two notices of loss of exempt status annually. The
Commission and the Office of the Comptroller of the Currency (``OCC'')
do not require transfer agents to file a notice of exempt status or
loss of exempt status. Instead, transfer agents whose ARA is the
Commission or OCC need only to prepare and maintain these notices. The
Commission estimates that approximately ten notices of exempt status
and ten notices of loss of exempt status are prepared annually by
transfer agents whose ARA is the Commission. We estimate that the
transfer agents for whom the OCC is their ARA prepare and maintain
approximately five notices of exempt status and five notices of loss of
exempt status annually. Thus, a total of approximately thirty-eight
notices of exempt status and loss of exempt status are prepared and
maintained by transfer agents annually. Of these thirty-eight notices,
approximately eight are filed with an ARA. Any additional costs
associated with filing such notices would be limited primarily to
postage, which would be minimal. Since the Commission estimates that no
more than one-half hour is required to prepare each notice, the total
annual burden to transfer agents is approximately nineteen hours. The
average cost per hour is approximately $30. Therefore, the total cost
of compliance to the transfer agent industry is about $570.
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.
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
[[Page 49907]]
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: September 23, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-23494 Filed 9-28-09; 8:45 am]
BILLING CODE 8010-01-P
