Proposed Extension of Information Collection; Comment Request; Final Rule on Statutory Exemption for Cross-Trading of Securities, 69365-69366 [E9-31000]
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Federal Register / Vol. 74, No. 250 / Thursday, December 31, 2009 / Notices
Estimated Total Annual Hour Burden:
417 hours.
Estimated Total Annual Cost Burden:
$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
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.
Comments submitted in response to
this notice will be summarized and/or
included in the ICR submitted for OMB
approval. 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. E9–30998 Filed 12–30–09; 8:45 am]
BILLING CODE 4510–29–P
DEPARTMENT OF LABOR
Employee Benefits Security
Administration
Proposed Extension of Information
Collection; Comment Request; Final
Rule on Statutory Exemption for
Cross-Trading of Securities
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
95) (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
VerDate Nov<24>2008
15:06 Dec 30, 2009
Jkt 220001
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
regulation pertaining to the statutory
exemption for cross-trading of
securities. A copy of the information
collection request (ICR) may be obtained
by contacting the office listed in the
ADDRESSES section of this notice or at
https://www.RegInfo.gov.
DATES: Written comments must be
submitted 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
The Interim Final Rule on Statutory
Exemption for Cross-Trading of
Securities implements the content
requirements for the written crosstrading policies and procedures
required under section 408(b)(19)(H) of
ERISA, as added by section 611(g) of the
Pension Protection Act of 2006, Public
Law 109–280 (PPA). Section 611(g)(1) of
the PPA created a new statutory
exemption, added to section 408(b) of
ERISA as subsection 408(b)(19), that
exempts from the prohibitions of
sections 406(a)(1)(A) and 406(b)(2) of
ERISA those cross-trading transactions
involving the purchase and sale of a
security between an account holding
assets of a pension plan and any other
account managed by the same
investment manager, provided that
certain conditions are satisfied. Section
611(g)(3) of the PPA further directed the
Secretary of Labor to issue regulations,
within 180 days after enactment,
regarding the content of the policies and
procedures to be adopted by an
investment manager to satisfy the
conditions of the new statutory
exemption.
The Department issued a final crosstrading regulation on October 7, 2008.
OMB approved the ICR at the proposed
rule stage on April 27, 2007, under
control number 1210–0130, which
expires on April 30, 2010. The final rule
PO 00000
Frm 00042
Fmt 4703
Sfmt 4703
69365
did not implement any substantive or
material change to the information
collection; therefore, no change was
made to the ICR, and no further OMB
review was required. The public is not
required to respond to an information
collection unless it displays a valid
control number. No change to the
existing ICR is being proposed or made
at this time.
II. 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,
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., permitting electronic submissions
of responses.
III. Current Action
This notice requests comments on an
extension of OMB’s approval of the
information collections included in 29
CFR 2550.408b–19. The Department is
not proposing or implementing changes
to the existing ICR at this time. A
summary of the ICR and the current
burden estimates follows:
Agency: Employee Benefits Security
Administration, Department of Labor.
Title: Final Rule on Statutory
Exemption for Cross-Trading of
Securities.
Type of Review: Extension of a
currently approved collection of
information.
OMB Number: 1210–0130.
Affected Public: Business or other forprofit; Not-for-profit institutions.
Respondents: 1,600.
Responses: 15,000.
Estimated Total Burden Hours:
17,000.
Estimated Total Burden Cost
(Operating and Maintenance): $58,000.
Comments submitted in response to
this notice will be summarized and/or
included in the request for OMB
approval of the ICR; they will also
become a matter of public record.
E:\FR\FM\31DEN1.SGM
31DEN1
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
Agencies
[Federal Register Volume 74, Number 250 (Thursday, December 31, 2009)]
[Notices]
[Pages 69365-69366]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-31000]
-----------------------------------------------------------------------
DEPARTMENT OF LABOR
Employee Benefits Security Administration
Proposed Extension of Information Collection; Comment Request;
Final Rule on Statutory Exemption for Cross-Trading of Securities
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 95) (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 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 regulation pertaining to the
statutory exemption for cross-trading of securities. A copy of the
information collection request (ICR) may be obtained by contacting the
office listed in the ADDRESSES section of this notice or at https://www.RegInfo.gov.
DATES: Written comments must be submitted 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
The Interim Final Rule on Statutory Exemption for Cross-Trading of
Securities implements the content requirements for the written cross-
trading policies and procedures required under section 408(b)(19)(H) of
ERISA, as added by section 611(g) of the Pension Protection Act of
2006, Public Law 109-280 (PPA). Section 611(g)(1) of the PPA created a
new statutory exemption, added to section 408(b) of ERISA as subsection
408(b)(19), that exempts from the prohibitions of sections 406(a)(1)(A)
and 406(b)(2) of ERISA those cross-trading transactions involving the
purchase and sale of a security between an account holding assets of a
pension plan and any other account managed by the same investment
manager, provided that certain conditions are satisfied. Section
611(g)(3) of the PPA further directed the Secretary of Labor to issue
regulations, within 180 days after enactment, regarding the content of
the policies and procedures to be adopted by an investment manager to
satisfy the conditions of the new statutory exemption.
The Department issued a final cross-trading regulation on October
7, 2008. OMB approved the ICR at the proposed rule stage on April 27,
2007, under control number 1210-0130, which expires on April 30, 2010.
The final rule did not implement any substantive or material change to
the information collection; therefore, no change was made to the ICR,
and no further OMB review was required. The public is not required to
respond to an information collection unless it displays a valid control
number. No change to the existing ICR is being proposed or made at this
time.
II. 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, 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., permitting
electronic submissions of responses.
III. Current Action
This notice requests comments on an extension of OMB's approval of
the information collections included in 29 CFR 2550.408b-19. The
Department is not proposing or implementing changes to the existing ICR
at this time. A summary of the ICR and the current burden estimates
follows:
Agency: Employee Benefits Security Administration, Department of
Labor.
Title: Final Rule on Statutory Exemption for Cross-Trading of
Securities.
Type of Review: Extension of a currently approved collection of
information.
OMB Number: 1210-0130.
Affected Public: Business or other for-profit; Not-for-profit
institutions.
Respondents: 1,600.
Responses: 15,000.
Estimated Total Burden Hours: 17,000.
Estimated Total Burden Cost (Operating and Maintenance): $58,000.
Comments submitted in response to this notice will be summarized
and/or included in the request for OMB approval of the ICR; they will
also become a matter of public record.
[[Page 69366]]
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]
BILLING CODE 4510-29-P