Submission for OMB Review; Comment Request, 32824-32825 [2010-13833]

Download as PDF 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 erowe on DSK5CLS3C1PROD with NOTICES Federal Register / Vol. 75, No. 110 / Wednesday, June 9, 2010 / Notices substantial difficulty determining whether a national securities exchange or exempt exchange was continuing to operate in compliance with the Act. Initial filings on Form 1 by new exchanges are made on a one-time basis. The Commission estimates that it will receive approximately three initial Form 1 filings per year and that each respondent would incur an average burden of 47 hours to file an initial Form 1 at an average cost per response of approximately $10,354. Therefore, the Commission estimates that the annual burden for all respondents to file the initial Form 1 would be 141 hours (one response/respondent × three respondents × 47 hours/response) and $31,062 (one response/respondent × three respondents × $10,354/response). There currently are thirteen entities registered as national securities exchanges and two exempt exchanges, for a total of 15 exchanges. The Commission estimates that each registered or exempt exchange files four amendments or periodic updates to Form 1 per year, incurring an average burden of 25 hours to comply with Rule 6a–2. The Commission estimates that the annual burden for all respondents to file amendments and periodic updates to the Form 1 pursuant to Rule 6a–2 is 1500 hours (15 respondents × 25 hours/ response × four response/respondent per year) and $317,700 (15 respondents × $5,295/response × one response/ respondent per year). Compliance with Rules 6a–1 and 6a– 2 and Form 1 is mandatory for entities seeking to register as a national securities exchange or seeking an exemption from registration based on limited trading volume. Information received in response to Rules 6a–1 and 6a–2 and Form 1 shall not be kept confidential; the information collected is public information. As set forth in Rule 17a–1 (17 CFR 240.17a–1) under the Act, a national securities exchange generally is required to retain records of the collection of information for at least five years. 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 sending an e-mail to: Shagufta_Ahmed@omb.eop.gov; and (ii) Charles Boucher, Director/Chief Information Officer, Securities and VerDate Mar<15>2010 15:10 Jun 08, 2010 Jkt 220001 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 the Office of Management and Budget within 30 days of this notice. Dated: June 2, 2010. Elizabeth M. Murphy, Secretary. [FR Doc. 2010–13833 Filed 6–8–10; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 29292; File No. 812–13748] FFCM, LLC and FQF Trust; Notice of Application June 2, 2010. AGENCY: Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice of an application under section 6(c) of the Investment Company Act of 1940 (‘‘Act’’) for an exemption from rule 12d1–2(a) under the Act. SUMMARY OF APPLICATION: Applicants request an order to permit open-end management investment companies relying on rule 12d1–2 under the Act to invest in certain financial instruments. APPLICANTS: FFCM, LLC (‘‘FFCM,’’ and together with any entity controlling, controlled by or under common control with FFCM, the ‘‘Adviser’’) and FQF Trust (‘‘Trust,’’ and together with the Adviser, ‘‘Applicants’’). FILING DATES: The application was filed on January 28, 2010, and amended on May 27, 2010. HEARING OR NOTIFICATION OF HEARING: An order granting the application will be issued unless the Commission orders a hearing. Interested persons may request a hearing by writing to the Commission’s Secretary and serving applicants with a copy of the request, personally or by mail. Hearing requests should be received by the Commission by 5:30 p.m. on June 28, 2010 and should be accompanied by proof of service on applicants, in the form of an affidavit or, for lawyers, a certificate of service. Hearing requests should state the nature of the writer’s interest, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by writing to the Commission’s Secretary. ADDRESSES: Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090; PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 32825 Applicants: FFCM, LLC and FQF Trust, 230 Congress Street, 5th Floor, Boston, MA 02110. FOR FURTHER INFORMATION CONTACT: Deepak T. Pai, Senior Counsel, at (202) 551–6876, or Michael W. Mundt, Assistant Director, at (202) 551–6821 (Division of Investment Management, Office of Investment Company Regulation). SUPPLEMENTARY INFORMATION: The following is a summary of the application. The complete application may be obtained via the Commission’s Web site by searching for the file number, or an applicant using the Company name box, at https:// www.sec.gov/search/search.htm or by calling (202) 551–8090. Applicants’ Representations: 1. The Trust is organized as a Delaware statutory trust and is registered with the Commission as an open-end management investment company. The Adviser, a Delaware limited liability company, will register as an investment adviser under the Investment Advisers Act of 1940, as amended, prior to relying on the requested order. A broker-dealer registered under the Securities Exchange Act of 1934, as amended (‘‘Exchange Act’’), will be selected and will serve as distributor. 2. Applicants request the exemption to the extent necessary to permit any existing or future registered open-end management investment company or series thereof that (a) is advised by the Adviser, (b) is in the same group of investment companies, as defined in section 12(d)(1)(G) of the Act, (c) invests in shares of other registered open-end investment companies (‘‘Underlying Funds’’) in reliance on section 12(d)(1)(G) of the Act, and (d) is also eligible to invest in securities (as defined in section 2(a)(36) of the Act) in reliance on rule 12d1–2 under the Act (‘‘Funds of Funds’’), to also invest, to the extent consistent with its investment objective, policies, strategies and limitations, in financial instruments that may not be securities within the meaning of section 2(a)(36) of the Act (‘‘Other Investments’’). Applicants state that all Funds of Funds and Underlying Funds are or will be registered with the Commission as open-end management investment companies. 3. Consistent with its fiduciary obligations under the Act, each Fund of Fund’s board of trustees or directors will review the advisory fees charged by the Fund of Fund’s investment adviser to ensure that they are based on services provided that are in addition to, rather than duplicative of, services provided E:\FR\FM\09JNN1.SGM 09JNN1

Agencies

[Federal Register Volume 75, Number 110 (Wednesday, June 9, 2010)]
[Notices]
[Pages 32824-32825]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-13833]


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

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

[[Page 32825]]

substantial difficulty determining whether a national securities 
exchange or exempt exchange was continuing to operate in compliance 
with the Act.
    Initial filings on Form 1 by new exchanges are made on a one-time 
basis. The Commission estimates that it will receive approximately 
three initial Form 1 filings per year and that each respondent would 
incur an average burden of 47 hours to file an initial Form 1 at an 
average cost per response of approximately $10,354. Therefore, the 
Commission estimates that the annual burden for all respondents to file 
the initial Form 1 would be 141 hours (one response/respondent x three 
respondents x 47 hours/response) and $31,062 (one response/respondent x 
three respondents x $10,354/response).
    There currently are thirteen entities registered as national 
securities exchanges and two exempt exchanges, for a total of 15 
exchanges. The Commission estimates that each registered or exempt 
exchange files four amendments or periodic updates to Form 1 per year, 
incurring an average burden of 25 hours to comply with Rule 6a-2. The 
Commission estimates that the annual burden for all respondents to file 
amendments and periodic updates to the Form 1 pursuant to Rule 6a-2 is 
1500 hours (15 respondents x 25 hours/response x four response/
respondent per year) and $317,700 (15 respondents x $5,295/response x 
one response/respondent per year).
    Compliance with Rules 6a-1 and 6a-2 and Form 1 is mandatory for 
entities seeking to register as a national securities exchange or 
seeking an exemption from registration based on limited trading volume. 
Information received in response to Rules 6a-1 and 6a-2 and Form 1 
shall not be kept confidential; the information collected is public 
information. As set forth in Rule 17a-1 (17 CFR 240.17a-1) under the 
Act, a national securities exchange generally is required to retain 
records of the collection of information for at least five years.
    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 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 to the Office of 
Management and Budget within 30 days of this notice.

    Dated: June 2, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-13833 Filed 6-8-10; 8:45 am]
BILLING CODE 8010-01-P
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