Proposed Extension of Information Collection; Comment Request; Prohibited Transaction Class Exemption 75-1; Employee Benefit Plan Security Transactions With Broker-Dealers, Reporting Dealers and Banks, 69366-69367 [E9-30999]

Download as PDF 69366 Federal Register / Vol. 74, No. 250 / Thursday, December 31, 2009 / Notices Dated: December 24, 2009. Joseph S. Piacentini, Director, Office of Policy and Research, Employee Benefits Security Administration. [FR Doc. E9–31000 Filed 12–30–09; 8:45 am] DEPARTMENT OF LABOR Employee Benefits Security Administration Proposed Extension of Information Collection; Request for Public Comment; Prohibited Transaction Class Exemption 80–83; Employee Benefit Plan Purchase of Securities Benefiting Party in Interest Issuer erowe on DSK5CLS3C1PROD with NOTICES AGENCY: Employee Benefits Security Administration, Department of Labor. ACTION: Notice. SUMMARY: The Department of Labor (the Department), in accordance with the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)), provides the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information. This helps the Department assess the impact of its information collection requirements and minimize the reporting burden on the public and helps the public understand the Department’s information collection requirements and provide the requested data in the desired format. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments on the proposed extension of the information collection provisions of Prohibited Transaction Class Exemption (PTE) 80–83. A copy of the information collection request (ICR) may be obtained by contacting the office listed in the ADDRESSES section of this notice. DATES: Written comments must be submitted on or before March 1, 2010. ADDRESSES: Direct all written comments to Susan G. Lahne, Office of Policy and Research, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, NW., Room N–5647, Washington, DC 20210. Telephone: (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 PTE 80–83 provides an exemption from certain prohibited transaction provisions of the Employment Retirement Income Security Act of 1974 VerDate Nov<24>2008 15:06 Dec 30, 2009 Jkt 220001 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 submissions of responses. Comments submitted in response to this notice will be summarized and/or included in the ICR submitted to OMB; they will also become a matter of public record. II. Current Actions BILLING CODE 4510–29–P (ERISA) and from certain taxes imposed by the Internal Revenue Code of 1986 (Code) for transactions in which an employee benefit plan purchases securities when the proceeds from such purchase may be used to reduce or retire a debt owed by a party in interest with respect to such plan, provided that specified conditions are met. Among other conditions, PTE 80–83 requires that adequate records pertaining to an exempted transaction be maintained for six years. The Department has approval from the Office of Management and Budget (OMB) for this information collection requirement under OMB Control No. 1210–0064. This approval is currently scheduled to expire on March 31, 2010. Dated: December 24, 2009. Joseph A. Piacentini, Director, Office of Policy and Research, Employee Benefits Security Administration. [FR Doc. E9–31001 Filed 12–30–09; 8:45 am] This notice requests public comment pertaining to the Department’s request for extension of OMB approval of the information collection contained in PTE 80–83. After considering comments received in response to this notice, the Department intends to submit an ICR to OMB for continuing approval of the information collection contained in PTE 80–83. No change to the existing ICR is proposed or made at this time. An agency may not conduct or sponsor, and a person is not required to respond to, an information collection unless it displays a valid OMB control number. A summary of the ICR and the current burden estimates follows: Agency: Employee Benefits Security Administration, Department of Labor. Title: Prohibited Transaction Class Exemption 80–83; Employee Benefit Plan Purchase of Securities Benefiting Party in Interest Issuer. Type of Review: Extension of a currently approved collection of information. OMB Number: 1210–0064. Affected Public: Business or other forprofit; Not-for-profit institutions. Respondents: 25. Responses: 25. Estimated Total Burden Hours: 2 hours. III. Desired Focus of Comments The Department of Labor (Department) 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, PO 00000 Frm 00043 Fmt 4703 Sfmt 4703 BILLING CODE 4510–29–P DEPARTMENT OF LABOR Employee Benefits Security Administration Proposed Extension of Information Collection; Comment Request; Prohibited Transaction Class Exemption 75–1; Employee Benefit Plan Security Transactions With Broker-Dealers, Reporting Dealers and Banks AGENCY: Employee Benefits Security Administration, Department of Labor. ACTION: Notice. SUMMARY: The Department of Labor (the Department), in accordance with the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)), provides the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information. This program helps the Department assess the impact of its information collection requirements and minimize the reporting burden on the public and helps the public understand the Department’s information collection requirements and provide the requested data in the desired format. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments on a proposed extension of the current approval of information collection provisions incorporated in the Prohibited Transaction Class Exemption (PTE) 75–1, pertaining to securities and other related transactions with broker-dealers, reporting dealers and banks. A copy of the information E:\FR\FM\31DEN1.SGM 31DEN1 Federal Register / Vol. 74, No. 250 / Thursday, December 31, 2009 / Notices collection request (ICR) can be obtained by contacting the office shown in the ADDRESSES section of this notice or at http://www.RegInfo.gov. DATES: Written comments must be submitted to the office shown in the ADDRESSES section on or before March 1, 2010. ADDRESSES: Direct all written comments to G. Christopher Cosby, Office of Policy and Research, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, NW., Room N–5647, Washington, DC 20210. Telephone: (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 PTE 75–1 provides exemptions from certain prohibited transaction provisions of the Employment Retirement Income Security Act of 1974 (ERISA), and the Internal Revenue Code of 1986 (Code) for specified types of transactions between employee benefit plans and broker-dealers, reporting dealers and banks relating to securities purchases and sales, provided specified conditions are met. The exempted transactions include an employee benefit plan’s purchase of securities from broker-dealers’ inventories of stocks, from underwriting syndicates in which a plan fiduciary is a member, from banks, from reporting dealers, and from a market-maker even if a marketmaker is a plan fiduciary. The exempted transactions also include, under certain conditions, a plan’s accepting an extension of credit from a broker-dealer for the purpose of facilitating settlement of a securities transaction. Among other conditions, PTE 75–1 requires that a party seeking to rely on the exemption with respect to a transaction maintain adequate records of the transaction for a period of six years. The Department has obtained approval from the Office of Management and Budget (OMB) for this information collection under OMB Control No. 1210–0092. This approval is currently scheduled to expire on April 30, 2010. erowe on DSK5CLS3C1PROD with NOTICES II. Current Actions This notice requests public comment pertaining to the Department’s request for extension of OMB approval of the information collection contained in PTE 75–1. After considering comments received in response to this notice, the Department intends to submit an ICR to OMB for continuing approval of the VerDate Nov<24>2008 15:06 Dec 30, 2009 Jkt 220001 information collection contained in PTE 75–1. No change to the existing ICR is proposed or made at this time. An agency may not conduct or sponsor, and a person is not required to respond to, an information collection unless it displays a valid OMB control number. A summary of the ICR and the current burden estimates follows: Agency: Employee Benefits Security Administration, Department of Labor. Title: Prohibited Transaction Class Exemption 75–1; Employee Benefit Plan Security Transactions with BrokerDealers, Reporting Dealers and Banks. Type of Review: Extension of a currently approved collection of information. OMB Number: 1210–0092. Affected Public: Business or other forprofit; Not-for-profit institutions. Respondents: 9,750. Responses: 9,750. Estimated Total Burden Hours: 1,625. Estimate Total Burden Cost: $0. III. Desired Focus of Comments The Department 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; 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 submissions of responses. Comments submitted in response to this notice will be summarized and/or included in the ICR submitted to OMB; they will also become a matter of public record. Dated: December 24, 2009. Joseph A. Piacentini, Director, Office of Policy and Research, Employee Benefits Security Administration. [FR Doc. E9–30999 Filed 12–30–09; 8:45 am] BILLING CODE 4510–29–P PO 00000 Frm 00044 Fmt 4703 Sfmt 4703 69367 POSTAL REGULATORY COMMISSION [Docket No. CP2009–29; Order No. 368] Postal Product Price Changes Postal Regulatory Commission. Notice. AGENCY: ACTION: SUMMARY: The Commission is noticing a recently-filed Postal Service request to change prices for a Global Direct contract. This notice provides an opportunity for the public to comment. DATES: Comments are due: January 5, 2010. ADDRESSES: Submit comments electronically via the Commission’s Filing Online system at http:// www.prc.gov. Commenters who cannot submit their views electronically should contact the person identified in ‘‘FOR FURTHER INFORMATION CONTACT’’ by telephone for advice on alternatives to electronic filing. FOR FURTHER INFORMATION CONTACT: Stephen L. Sharfman, General Counsel, 202–789–6820 or stephen.sharfman@prc.gov. On December 18, 2009, the Postal Service filed a notice that prices for the Global Direct contract at issue in the abovecaptioned proceeding will change as contemplated by the contract’s terms.1 The Notice includes three attachments: (1) A redacted version of the letter to the customer with the amended prices (Attachment 1); (2) a certified statement of compliance with 39 U.S.C. 3633(a) (Attachment 2); and (3) an application for non-public treatment for the material filed under seal (Attachment 3). In Order No. 216, the Commission concluded that certain costs for these types of contracts are based on objective, external factors and out of the Postal Service’s discretion.2 Such objective, external factors are, in the case of Global Direct, exchange rate fluctuations and changes in the amount Canada Post Corporation charges the Postal Service for services. Id. at 7. For rate changes based on these types of objective, external factors, the Commission allowed that the Postal Service could file the changes on a ‘‘notice-type basis.’’ Id. The Postal Service filed the Notice because it plans on changing rates for the Global Direct contract at issue in this docket. It is unclear, however, SUPPLEMENTARY INFORMATION: 1 Notice of United States Postal Service of Change in Prices in Accordance with Order No. 216, December 18, 2009 (Notice). 2 PRC Order No. 216, Order Concerning Filing of Additional Global Direct Contracts Negotiated Service Agreement, May 15, 2009 (Order No. 216). E:\FR\FM\31DEN1.SGM 31DEN1

Agencies

[Federal Register Volume 74, Number 250 (Thursday, December 31, 2009)]
[Notices]
[Pages 69366-69367]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-30999]


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DEPARTMENT OF LABOR

Employee Benefits Security Administration


Proposed Extension of Information Collection; Comment Request; 
Prohibited Transaction Class Exemption 75-1; Employee Benefit Plan 
Security Transactions With Broker-Dealers, Reporting Dealers and Banks

AGENCY: Employee Benefits Security Administration, Department of Labor.

ACTION: Notice.

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

SUMMARY: The Department of Labor (the Department), in accordance with 
the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)), 
provides the general public and Federal agencies with an opportunity to 
comment on proposed and continuing collections of information. This 
program helps the Department assess the impact of its information 
collection requirements and minimize the reporting burden on the public 
and helps the public understand the Department's information collection 
requirements and provide the requested data in the desired format. 
Currently, the Employee Benefits Security Administration (EBSA) is 
soliciting comments on a proposed extension of the current approval of 
information collection provisions incorporated in the Prohibited 
Transaction Class Exemption (PTE) 75-1, pertaining to securities and 
other related transactions with broker-dealers, reporting dealers and 
banks. A copy of the information

[[Page 69367]]

collection request (ICR) can be obtained by contacting the office shown 
in the ADDRESSES section of this notice or at http://www.RegInfo.gov.

DATES: Written comments must be submitted to the office shown in the 
ADDRESSES section on or before March 1, 2010.

ADDRESSES: Direct all written comments to G. Christopher Cosby, Office 
of Policy and Research, Employee Benefits Security Administration, U.S. 
Department of Labor, 200 Constitution Avenue, NW., Room N-5647, 
Washington, DC 20210. Telephone: (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

    PTE 75-1 provides exemptions from certain prohibited transaction 
provisions of the Employment Retirement Income Security Act of 1974 
(ERISA), and the Internal Revenue Code of 1986 (Code) for specified 
types of transactions between employee benefit plans and broker-
dealers, reporting dealers and banks relating to securities purchases 
and sales, provided specified conditions are met. The exempted 
transactions include an employee benefit plan's purchase of securities 
from broker-dealers' inventories of stocks, from underwriting 
syndicates in which a plan fiduciary is a member, from banks, from 
reporting dealers, and from a market-maker even if a market-maker is a 
plan fiduciary. The exempted transactions also include, under certain 
conditions, a plan's accepting an extension of credit from a broker-
dealer for the purpose of facilitating settlement of a securities 
transaction. Among other conditions, PTE 75-1 requires that a party 
seeking to rely on the exemption with respect to a transaction maintain 
adequate records of the transaction for a period of six years. The 
Department has obtained approval from the Office of Management and 
Budget (OMB) for this information collection under OMB Control No. 
1210-0092. This approval is currently scheduled to expire on April 30, 
2010.

II. Current Actions

    This notice requests public comment pertaining to the Department's 
request for extension of OMB approval of the information collection 
contained in PTE 75-1. After considering comments received in response 
to this notice, the Department intends to submit an ICR to OMB for 
continuing approval of the information collection contained in PTE 75-
1. No change to the existing ICR is proposed or made at this time. An 
agency may not conduct or sponsor, and a person is not required to 
respond to, an information collection unless it displays a valid OMB 
control number. A summary of the ICR and the current burden estimates 
follows:
    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Prohibited Transaction Class Exemption 75-1; Employee 
Benefit Plan Security Transactions with Broker-Dealers, Reporting 
Dealers and Banks.
    Type of Review: Extension of a currently approved collection of 
information.
    OMB Number: 1210-0092.
    Affected Public: Business or other for-profit; Not-for-profit 
institutions.
    Respondents: 9,750.
    Responses: 9,750.
    Estimated Total Burden Hours: 1,625.
    Estimate Total Burden Cost: $0.

III. Desired Focus of Comments

    The Department 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; 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 submissions of responses.
    Comments submitted in response to this notice will be summarized 
and/or included in the ICR submitted to OMB; they will also become a 
matter of public record.

    Dated: December 24, 2009.
Joseph A. Piacentini,
Director, Office of Policy and Research, Employee Benefits Security 
Administration.
[FR Doc. E9-30999 Filed 12-30-09; 8:45 am]
BILLING CODE 4510-29-P