Proposed Collection; Comment Request, 32823-32824 [2010-13832]
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erowe on DSK5CLS3C1PROD with NOTICES
Federal Register / Vol. 75, No. 110 / Wednesday, June 9, 2010 / Notices
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Form 15F (17 CFR 249.324) is filed by
a foreign private issuer when
terminating its Exchange Act reporting
obligations under Exchange Act Rule
12h–6 (240.12h–6). Form 15F requires a
filer to disclose information that helps
investors understand the foreign private
issuer’s decision to terminate its
Exchange Act reporting obligations and
assist Commission staff in determining
whether the filer is eligible to terminate
its Exchange Act reporting obligations
pursuant to Rule 12h–6. Compared to
Exchange Act Rules 12g–4 (240.12g–4)
and 12h–3 (240.12h–3), Rule 12h–6
makes it easier for a foreign private
issuer to exit the Exchange Act
registration and reporting regime when
there is relatively little U.S. investor
interest in its securities. Rule 12h–6 is
intended to remove a disincentive for
foreign private issuers to register
initially their securities with the
Commission by lessening their concern
that the Exchange Act registration and
reporting system is difficult to exit once
an issuer joins it. We estimate that Form
15F takes approximately 30 hours to
prepare and is filed by approximately
300 issuers. We estimate that 25% of the
30 hours per response (7.5 hours per
response) is prepared by the filer for a
total annual reporting burden of 2,250
hours (7.5 hours per response × 300
responses).
Written comments are invited on: (a)
Whether this proposed collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’s estimate
of the burden imposed by the collection
of information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology. Consideration will be given
to comments and suggestions submitted
in writing within 60 days of this
publication.
Please direct your written comments
to Charles Boucher/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.
VerDate Mar<15>2010
15:10 Jun 08, 2010
Jkt 220001
Dated: June 2, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010–13831 Filed 6–8–10; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon Written Request, Copy Available
From: Securities and Exchange
Commission, Office of Investor
Education and Advocacy,
Washington, DC 20549–0213.
Extension:
Form S–6; SEC File No. 270–181; OMB
Control No. 3235–0184.
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 (the
‘‘Commission’’) is soliciting comments
on the collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
The title for the collection of
information is ‘‘Form S–6 (17 CFR
239.16), for Registration under the
Securities Act of 1933 of Securities of
Unit Investment Trusts Registered on
Form N–8B–2 (17 CFR 274.13).’’ Form
S–6 is a form used for registration under
the Securities Act of 1933 (15 U.S.C. 77a
et seq.) (‘‘Securities Act’’) of securities of
any unit investment trust (‘‘UIT’’)
registered under the Investment
Company Act of 1940 (15 U.S.C. 80a–1
et seq.) (‘‘Investment Company Act’’) on
Form N–8B–2.1 Section 5 of the
Securities Act (15 U.S.C. 77e) requires
the filing of a registration statement
prior to the offer of securities to the
public and that the statement be
effective before any securities are sold.
Section 5(b) of the Securities Act
requires that investors be provided with
a prospectus containing the information
required in a registration statement prior
to the sale or at the time of confirmation
or delivery of the securities.
Section 10(a)(3) of the Securities Act
(15 U.S.C. 77j(a)(3)) provides that when
a prospectus is used more than nine
months after the effective date of the
1 Form N–8B–2 is the form used by UITs other
than separate accounts that are currently issuing
securities, including UITs that are issuers of
periodic payment plan certificates and UITs of
which a management investment company is the
sponsor or depositor to register under the
Investment Company Act pursuant to Section 8
thereof.
PO 00000
Frm 00089
Fmt 4703
Sfmt 4703
32823
registration statement, the information
therein shall be as of a date not more
than sixteen months prior to such use.
As a result, most UITs update their
registration statements under the
Securities Act on an annual basis in
order that their sponsors may continue
to maintain a secondary market in the
units. UITs that are registered under the
Investment Company Act on Form N–
8B–2 file post-effective amendments to
their registration statements on Form S–
6 in order to update their prospectuses.
The purpose of Form S–6 is to meet
the filing and disclosure requirements of
the Securities Act and to enable filers to
provide investors with information
necessary to evaluate an investment in
the security. This information collection
differs significantly from many other
federal information collections, which
are primarily for the use and benefit of
the collecting agency. The information
required to be filed with the
Commission permits verification of
compliance with securities law
requirements and assures the public
availability and dissemination of the
information.
The Commission estimates that there
are approximately 938 initial
registration statements filed on Form S–
6 annually and approximately 1,116
annual post-effective amendments to
previously effective registration
statements filed on Form S–6. The
Commission estimates that the hour
burden for preparing and filing an
initial registration statement on Form S–
6 or for preparing and filing a posteffective amendment to a previously
effective registration statement filed on
Form S–6 is 35 hours. Therefore, the
total burden of preparing and filing
Form S–6 for all affected UITs is 71,890
hours.
The information collection
requirements imposed by Form S–6 are
mandatory. Responses to the collection
of information will not be 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.
Written comments are invited on: (a)
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;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
E:\FR\FM\09JNN1.SGM
09JNN1
32824
Federal Register / Vol. 75, No. 110 / Wednesday, June 9, 2010 / Notices
techniques or other forms of information
technology. Consideration will be given
to comments and suggestions submitted
in writing within 60 days of this
publication.
Please direct your written comments
to 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.
Dated: June 2, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010–13832 Filed 6–8–10; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
erowe on DSK5CLS3C1PROD with NOTICES
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 10b-10; SEC File No.
270–389; OMB Control No. 3235–0444.
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 approval of extension of the
previously approved collection of
information provided for in Rule 10b-10
(17 CFR 240.10b–10) under the
Securities and Exchange Act of 1934 (15
U.S.C. 78a et seq.)
Rule 10b–10 requires broker-dealers
to convey basic trade information to
customers regarding their securities
transactions. This information includes:
the date and time of the transaction, the
identity and number of shares bought or
sold, and the trading capacity of the
broker-dealer. Depending on the trading
capacity of the broker-dealer, Rule 10b–
10 requires the disclosure of
commissions as well as mark-up and
mark-down information. For
transactions in debt securities, Rule
10b–10 requires the disclosure of
redemption and yield information. Rule
10b–10 potentially applies to all of the
approximately 5,178 firms registered
with the Commission that effect
transactions on behalf of customers.
Based on information provided by
registered broker-dealers to the
Commission in FOCUS Reports, the
Commission staff estimates that on
average, registered broker-dealers
process approximately 1.4 billion order
VerDate Mar<15>2010
15:10 Jun 08, 2010
Jkt 220001
tickets per month for transactions on
behalf of customers. Each order ticket
representing a transaction effected on
behalf of a customer results in one
confirmation. Therefore, the
Commission staff estimates that
approximately 16.8 billion
confirmations are sent to customers
annually. The confirmations required by
Rule 10b–10 are generally processed
through automated systems. It takes
approximately 1 minute to generate and
send a confirmation. Accordingly, the
Commission estimates that brokerdealers spend 280 million hours per
year complying with Rule 10b–10.
The amount of confirmations sent and
the cost of sending each confirmation
varies from firm to firm. Smaller firms
generally send fewer confirmations than
larger firms because they effect fewer
transactions. The Commission staff
estimates the costs of producing and
sending a paper confirmation, including
postage to be approximately 96 cents.
The Commission staff also estimates
that the cost of producing a sending a
wholly electronic confirmation is
approximately 52 cents. Based on
informal discussions with industry
participants as well as no-action
positions taken in this area, the staff
estimates that broker-dealers used
electronic confirmations for
approximately 25 percent of
transactions. Based on these
calculations, Commission staff estimates
that 12,600,000,000 paper confirmations
are mailed each year at a cost of
$12,096,000,000. Commission staff also
estimates that 4,200,000,000 wholly
electronic confirmations are sent each
year at a cost of $2,184,000,000.
Accordingly, Commission staff
estimates that total annual cost
associated with generating and
delivering to investors the information
required under Rule 10b–10 would be
$14,280,000,000.
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
send 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
PO 00000
Frm 00090
Fmt 4703
Sfmt 4703
must be submitted to OMB within 30
days of this notice.
Dated: June 2, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010–13834 Filed 6–8–10; 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:
Form 1, Rules 6a–1 and 6a–2; SEC File No.
270–0017; OMB Control No. 3235–0017.
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.
The Securities Exchange Act of 1934
(15 U.S.C. 78a et seq. (the ‘‘Act’’) sets
forth a regulatory scheme for national
securities exchanges. Rule 6a–1 (17 CFR
240.6a–1) under the Act generally
requires an applicant for initial
registration as a national securities
exchange to file an application with the
Commission on Form 1 (17 CFR 249.1).
An exchange that seeks an exemption
from registration based on limited
trading volume also must apply for such
exemption on Form 1. Rule 6a–2 (17
CFR 240.6a–2) under the Act requires
registered and exempt exchanges: (1) To
amend the Form 1 if there are any
material changes to the information
provided in the initial Form 1; and (2)
to submit periodic updates of certain
information provided in the initial Form
1, whether such information has
changed or not. The information
required pursuant to Rules 6a–1 and 6a–
2 is necessary to enable the Commission
to maintain accurate files regarding the
exchange and to exercise its statutory
oversight functions. Without the
information submitted pursuant to Rule
6a–1 on Form 1, the Commission would
not be able to determine whether the
respondent met the criteria for
registration or exemption set forth in
Sections 6 and 19 of the Act. Without
the amendments and periodic updates
of information submitted pursuant to
Rule 6a–2, the Commission would have
E:\FR\FM\09JNN1.SGM
09JNN1
]]>Agencies
[Federal Register Volume 75, Number 110 (Wednesday, June 9, 2010)]
[Notices]
[Pages 32823-32824]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-13832]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Upon Written Request, Copy Available From: Securities and Exchange
Commission, Office of Investor Education and Advocacy, Washington, DC
20549-0213.
Extension:
Form S-6; SEC File No. 270-181; OMB Control No. 3235-0184.
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 (the ``Commission'') is soliciting comments on the
collection of information summarized below. The Commission plans to
submit this existing collection of information to the Office of
Management and Budget for extension and approval.
The title for the collection of information is ``Form S-6 (17 CFR
239.16), for Registration under the Securities Act of 1933 of
Securities of Unit Investment Trusts Registered on Form N-8B-2 (17 CFR
274.13).'' Form S-6 is a form used for registration under the
Securities Act of 1933 (15 U.S.C. 77a et seq.) (``Securities Act'') of
securities of any unit investment trust (``UIT'') registered under the
Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) (``Investment
Company Act'') on Form N-8B-2.\1\ Section 5 of the Securities Act (15
U.S.C. 77e) requires the filing of a registration statement prior to
the offer of securities to the public and that the statement be
effective before any securities are sold. Section 5(b) of the
Securities Act requires that investors be provided with a prospectus
containing the information required in a registration statement prior
to the sale or at the time of confirmation or delivery of the
securities.
---------------------------------------------------------------------------
\1\ Form N-8B-2 is the form used by UITs other than separate
accounts that are currently issuing securities, including UITs that
are issuers of periodic payment plan certificates and UITs of which
a management investment company is the sponsor or depositor to
register under the Investment Company Act pursuant to Section 8
thereof.
---------------------------------------------------------------------------
Section 10(a)(3) of the Securities Act (15 U.S.C. 77j(a)(3))
provides that when a prospectus is used more than nine months after the
effective date of the registration statement, the information therein
shall be as of a date not more than sixteen months prior to such use.
As a result, most UITs update their registration statements under the
Securities Act on an annual basis in order that their sponsors may
continue to maintain a secondary market in the units. UITs that are
registered under the Investment Company Act on Form N-8B-2 file post-
effective amendments to their registration statements on Form S-6 in
order to update their prospectuses.
The purpose of Form S-6 is to meet the filing and disclosure
requirements of the Securities Act and to enable filers to provide
investors with information necessary to evaluate an investment in the
security. This information collection differs significantly from many
other federal information collections, which are primarily for the use
and benefit of the collecting agency. The information required to be
filed with the Commission permits verification of compliance with
securities law requirements and assures the public availability and
dissemination of the information.
The Commission estimates that there are approximately 938 initial
registration statements filed on Form S-6 annually and approximately
1,116 annual post-effective amendments to previously effective
registration statements filed on Form S-6. The Commission estimates
that the hour burden for preparing and filing an initial registration
statement on Form S-6 or for preparing and filing a post-effective
amendment to a previously effective registration statement filed on
Form S-6 is 35 hours. Therefore, the total burden of preparing and
filing Form S-6 for all affected UITs is 71,890 hours.
The information collection requirements imposed by Form S-6 are
mandatory. Responses to the collection of information will not be 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.
Written comments are invited on: (a) 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; (b) the accuracy of the agency's estimate of
the burden of the collection of information; (c) ways to enhance the
quality, utility, and clarity of the information collected; and (d)
ways to minimize the burden of the collection of information on
respondents, including through the use of automated collection
[[Page 32824]]
techniques or other forms of information technology. Consideration will
be given to comments and suggestions submitted in writing within 60
days of this publication.
Please direct your written comments to 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.
Dated: June 2, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-13832 Filed 6-8-10; 8:45 am]
BILLING CODE 8010-01-P
