Technical Correction and Clarification for Prohibited Transaction Exemption (PTE) 2010-26, PNC Financial Services Group, Inc., 71151-71152 [2010-29342]
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Federal Register / Vol. 75, No. 224 / Monday, November 22, 2010 / Notices
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This document will provide
corrections and clarifications with
respect to certain statements contained
in PTE 2010–26 and the Notice.
1. Renumbering
To correct the numbering errors for
PTE 2010–26, the second reference of
Section II(a) should be revised to
become Section II(b) and subsequent
paragraphs should be revised in
corresponding sequential order.
Accordingly, the last two recordkeeping
paragraphs in Section II of PTE 2010–26
should be identified as Section II(o) and
(p).
2. Use of the Term Affiliate
Section II(a)(1) of PTE 2010–26 and
the Notice read:
A Client Plan invested in a Fund does not
pay any plan-level investment management
fee, investment advisory fee or similar fee
(Plan-Level Fee(s)) to PNC or its affiliates
with respect to any of the assets of such
Client Plan which are invested in shares of
such Funds for the entire period of such
investment (the Offset Fee Method).
The Department hereby deletes the
phrase ‘‘or its affiliates’’ from Section
II(a)(1) of PTE 2010–26 and the Notice.
3. Independent Audit Disclosures
Section II(m)(3) of PTE 2010–26 (as
corrected by this document) and the
Notice states:
A copy of the annual financial disclosure
report which includes information about
Fund portfolios, as well as the audit findings
of an independent auditor, within (60) days
of the preparation of such report; and
[FR Doc. 2010–29379 Filed 11–19–10; 8:45 am]
BILLING CODE 4410–36–P
71151
Representation 18 of the Notice to read
as follows:
Specifically, on an annual basis, such
Second Fiduciary receives copies of the
current Fund prospectuses, as well as copies
of the annual financial disclosure reports,
and for Client Plans investing in the Funds
pursuant to the Credit Fee Method, reports
with respect to the audit findings of the
Auditor containing information about the
Funds within sixty (60) days of the
preparation of such report.
4. Custodial Services
The Department notes that the last
sentence of Representation 3 of the
Notice states:
However, the custodian for the Client Plans
is not a PNC affiliate.
The Department deletes and replaces
the last sentence of Representation 3 of
the Notice as follows:
However, the custodian for the PNC Funds
is not a PNC affiliate.
5. PNC’s Compliance With PTE 77–4
The second sentence of
Representation 9 in the Notice states
that:
In addition, PNC has satisfied certain
conditions in PTE 77–4.
The Department deletes this sentence
and replaces it with the following
sentence:
In addition, PNC represents it has satisfied
all the conditions in PTE 77–4.
6. Technical Clarifications
The first paragraph of Section II(h) of
the Notice and PTE 2010–26 (as
corrected by this document) states:
DEPARTMENT OF LABOR
The Department deletes the following
phrase in Section II(m)(3):
Employee Benefits Security
Administration
‘‘,as well as the audit findings of an
independent auditor,’’.
Technical Correction and Clarification
for Prohibited Transaction Exemption
(PTE) 2010–26, PNC Financial Services
Group, Inc.
The Department adds the following
new paragraph to Section II(m)(5) of
PTE 2010–26 (as corrected by this
document) and the Notice:
Employee Benefits Security
Administration, Department of Labor
(the Department).
ACTION: Notice of technical correction
and clarification.
A copy of the audit findings prepared by
the independent Auditor, as required by
Section II(a)(3), is provided by PNC at least
annually within sixty (60) days of the
completion of the report of such audit
findings, to the Second Fiduciary of those
Client Plans using the Credit Fee method as
described in Section II(a)(3).
A second fiduciary (Second Fiduciary), as
defined below in Section III, who is acting on
behalf of a Client Plan receives, in advance
of any initial investment by a Plan Client in
a Fund, full and detailed written disclosure
of information concerning such Fund
including but not limited to:
The Department deletes the term
‘‘Plan Client’’ and inserts ‘‘Client Plan’’ in
lieu thereof. The Department corrects
the first paragraph of Section II(h) of the
Notice and PTE 2010–26 to read as
follows:
jlentini on DSKJ8SOYB1PROD with NOTICES
AGENCY:
In the September 16, 2010 issue of the
Federal Register, the Department
published PTE 2010–26 at 75 FR 56564,
which is an administrative exemption
from the prohibited transaction
provisions of the Employee Retirement
Income Security Act of 1974 and the
Internal Revenue Code of 1986, as
amended, for PNC Financial Services
Group, Inc; the corresponding Notice of
Proposed Exemption (the Notice) was
published at 75 FR 22853 on April 30,
2010.
VerDate Mar<15>2010
17:49 Nov 19, 2010
Jkt 223001
The last sentence of the second
paragraph of Representation 18 of the
Notice states the following:
Specifically, on an annual basis, such
Second Fiduciary receives copies of the
current Fund prospectuses, as well as copies
of the annual financial disclosure reports
containing information about the Funds and
audit findings of the Auditor within sixty
(60) days of the preparation of such report.
The Department hereby restates the
last sentence of the second paragraph of
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Frm 00085
Fmt 4703
Sfmt 4703
A second fiduciary (Second Fiduciary), as
defined below in Section III, who is acting on
behalf of a Client Plan receives, in advance
of any initial investment by a Client Plan in
a Fund, full and detailed written disclosure
of information concerning such Fund
including but not limited to:
Additionally, Section III(k)(1) of the
Notice states:
PNC is open for conducting all or
substantially or substantially all of its
banking functions, and
E:\FR\FM\22NON1.SGM
22NON1
71152
Federal Register / Vol. 75, No. 224 / Monday, November 22, 2010 / Notices
The Department corrects Section
III(k)(1) of the Notice and PTE 2010–26
to state:
PNC is open for conducting all or
substantially all of its banking functions, and
Mr.
Anh-Viet Ly of the Department at (202)
693–8648. (This is not a toll-free
number.)
FOR FURTHER INFORMATION CONTACT:
Signed at Washington, DC, this 17th day of
November, 2010.
Ivan L. Strasfeld,
Director of Exemption Determinations,
Employee Benefits Security Administration,
U.S. Department of Labor.
[FR Doc. 2010–29342 Filed 11–19–10; 8:45 am]
BILLING CODE 4510–29–P
NUCLEAR REGULATORY
COMMISSION
[Docket No. NRC–2010–0360]
Agency Information Collection
Activities: Proposed Collection;
Comment Request
U.S. Nuclear Regulatory
Commission.
ACTION: Notice of pending NRC action to
submit an information collection
request to the Office of Management and
Budget (OMB) and solicitation of public
comment.
AGENCY:
The NRC invites public
comment about our intention to request
the OMB’s approval for renewal of an
existing information collection that is
summarized below. We are required to
publish this notice in the Federal
Register under the provisions of the
Paperwork Reduction Act of 1995 (44
U.S.C. Chapter 35).
Information pertaining to the
requirement to be submitted:
1. The title of the information
collection: Comprehensive
Decommissioning Program, Including
Annual Data Collection.
2. Current OMB Approval Number:
OMB 3150–0206.
3. How often the collection is
required: Annually.
4. Who is required or asked to report:
All Agreement States who have signed
Section 274(b) Agreements with NRC.
5. The number of annual respondents:
37 (13 Agreement States respondents
with sites of interest + 24 Agreement
States respondents with no sites of
interest).
6. An estimate of the total number of
hours needed annually to complete the
requirement or request: 662 (590 hours
from Agreement States with sites of
interest + 72 hours from Agreement
States with no sites of interest).
jlentini on DSKJ8SOYB1PROD with NOTICES
SUMMARY:
VerDate Mar<15>2010
17:49 Nov 19, 2010
Jkt 223001
7. Abstract: Agreement States will be
asked to provide information about
uranium recovery and complex sites
undergoing decommissioning regulated
by the Agreement States on an annual
basis. The information request will
allow the NRC to compile, in a
centralized location, more complete
information on the status of
decommissioning and decontamination
in the United States in order to provide
a national perspective on
decommissioning. The information will
be made available to the public by the
NRC in order to ensure openness and
promote communication to enhance
public knowledge of the national
decommissioning program. This does
not apply to information, such as trade
secrets and commercial or financial
information provided by the Agreement
States, that is considered privileged or
confidential. Information such as
financial assurance and the status of
decommissioning funding would need
to be identified by the Agreement State
as privileged or confidential,
whereupon the NRC would withhold
such information from public access
and treat it as sensitive or non-sensitive,
per the considerations in 10 CFR 2.390
and 9.17. This does not apply to
financial assurance or decommissioning
funding information that is already
available to the public. Although
specific details of the funding
mechanisms are treated as confidential,
beneficial lessons learned regarding the
improvement of decommissioningrelated funding will be shared with the
Agreement States.
Submit, by January 21, 2011,
comments that address the following
questions:
1. Is the proposed collection of
information necessary for the NRC to
properly perform its functions? Does the
information have practical utility?
2. Is the burden estimate accurate?
3. Is there a way to enhance the
quality, utility, and clarity of the
information to be collected?
4. How can the burden of the
information collection be minimized,
including the use of automated
collection techniques or other forms of
information technology?
A copy of the draft supporting
statement may be viewed free of charge
at the NRC Public Document Room, One
White Flint North, 11555 Rockville
Pike, Room O–1 F21, Rockville,
Maryland 20852. OMB clearance
requests are available at the NRC
worldwide Web site: https://
www.nrc.gov/public-involve/doccomment/omb/. The
document will be available on the NRC
home page site for 60 days after the
PO 00000
Frm 00086
Fmt 4703
Sfmt 4703
signature date of this notice. Comments
submitted in writing or in electronic
form will be made available for public
inspection. Because your comments will
not be edited to remove any identifying
or contact information, the NRC
cautions you against including any
information in your submission that you
do not want to be publicly disclosed.
Comments submitted should reference
Docket No. NRC–2010–0339. You may
submit your comments by any of the
following methods: Electronic
comments: Go to https://
www.regulations.gov and search for
Docket No. NRC–2010–0339. Mail
comments to NRC Clearance Officer,
Tremaine Donnell (T–5 F53), U.S.
Nuclear Regulatory Commission,
Washington, DC 20555–0001. Questions
about the information collection
requirements may be directed to the
NRC Clearance Officer, Tremaine
Donnell (T–5 F53), U.S. Nuclear
Regulatory Commission, Washington,
DC 20555–0001, by telephone at
301–415–6258, or by e-mail to
INFOCOLLECTS.Resource@nrc.gov.
Dated at Rockville, Maryland, this 10th day
of November 2010
For the Nuclear Regulatory Commission.
Tremaine Donnell,
NRC Clearance Officer, Office of Information
Services.
[FR Doc. 2010–29375 Filed 11–19–10; 8:45 am]
BILLING CODE 7590–01–P
NUCLEAR REGULATORY
COMMISSION
[Docket Nos. 50–361 and 50–362; NRC–
2010–0359]
Southern California Edison; San
Onofre Nuclear Generating Station,
Unit 2 and Unit 3; Exemption
1.0 Background
Southern California Edison (SCE, the
licensee) is the holder of the Facility
Operating License Nos. NPF–10 and
NPF–15, which authorize operation of
the San Onofre Nuclear Generating
Station (SONGS), Unit 2 and Unit 3,
respectively. The licenses provide,
among other things, that the facility is
subject to all rules, regulations, and
orders of the U.S. Nuclear Regulatory
Commission (NRC or the Commission)
now or hereafter in effect.
The facility consists of two
pressurized-water reactors located in
San Diego County, California.
2.0 Request/Action
Title 10 of the Code of Federal
Regulations (10 CFR) part 73, ‘‘Physical
protection of plants and materials,’’
E:\FR\FM\22NON1.SGM
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]]>Agencies
[Federal Register Volume 75, Number 224 (Monday, November 22, 2010)]
[Notices]
[Pages 71151-71152]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-29342]
=======================================================================
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DEPARTMENT OF LABOR
Employee Benefits Security Administration
Technical Correction and Clarification for Prohibited Transaction
Exemption (PTE) 2010-26, PNC Financial Services Group, Inc.
AGENCY: Employee Benefits Security Administration, Department of Labor
(the Department).
ACTION: Notice of technical correction and clarification.
-----------------------------------------------------------------------
In the September 16, 2010 issue of the Federal Register, the
Department published PTE 2010-26 at 75 FR 56564, which is an
administrative exemption from the prohibited transaction provisions of
the Employee Retirement Income Security Act of 1974 and the Internal
Revenue Code of 1986, as amended, for PNC Financial Services Group,
Inc; the corresponding Notice of Proposed Exemption (the Notice) was
published at 75 FR 22853 on April 30, 2010.
This document will provide corrections and clarifications with
respect to certain statements contained in PTE 2010-26 and the Notice.
1. Renumbering
To correct the numbering errors for PTE 2010-26, the second
reference of Section II(a) should be revised to become Section II(b)
and subsequent paragraphs should be revised in corresponding sequential
order. Accordingly, the last two recordkeeping paragraphs in Section II
of PTE 2010-26 should be identified as Section II(o) and (p).
2. Use of the Term Affiliate
Section II(a)(1) of PTE 2010-26 and the Notice read:
A Client Plan invested in a Fund does not pay any plan-level
investment management fee, investment advisory fee or similar fee
(Plan-Level Fee(s)) to PNC or its affiliates with respect to any of
the assets of such Client Plan which are invested in shares of such
Funds for the entire period of such investment (the Offset Fee
Method).
The Department hereby deletes the phrase ``or its affiliates'' from
Section II(a)(1) of PTE 2010-26 and the Notice.
3. Independent Audit Disclosures
Section II(m)(3) of PTE 2010-26 (as corrected by this document) and
the Notice states:
A copy of the annual financial disclosure report which includes
information about Fund portfolios, as well as the audit findings of
an independent auditor, within (60) days of the preparation of such
report; and
The Department deletes the following phrase in Section II(m)(3):
``,as well as the audit findings of an independent auditor,''.
The Department adds the following new paragraph to Section II(m)(5)
of PTE 2010-26 (as corrected by this document) and the Notice:
A copy of the audit findings prepared by the independent
Auditor, as required by Section II(a)(3), is provided by PNC at
least annually within sixty (60) days of the completion of the
report of such audit findings, to the Second Fiduciary of those
Client Plans using the Credit Fee method as described in Section
II(a)(3).
The last sentence of the second paragraph of Representation 18 of
the Notice states the following:
Specifically, on an annual basis, such Second Fiduciary receives
copies of the current Fund prospectuses, as well as copies of the
annual financial disclosure reports containing information about the
Funds and audit findings of the Auditor within sixty (60) days of
the preparation of such report.
The Department hereby restates the last sentence of the second
paragraph of Representation 18 of the Notice to read as follows:
Specifically, on an annual basis, such Second Fiduciary receives
copies of the current Fund prospectuses, as well as copies of the
annual financial disclosure reports, and for Client Plans investing
in the Funds pursuant to the Credit Fee Method, reports with respect
to the audit findings of the Auditor containing information about
the Funds within sixty (60) days of the preparation of such report.
4. Custodial Services
The Department notes that the last sentence of Representation 3 of
the Notice states:
However, the custodian for the Client Plans is not a PNC
affiliate.
The Department deletes and replaces the last sentence of
Representation 3 of the Notice as follows:
However, the custodian for the PNC Funds is not a PNC affiliate.
5. PNC's Compliance With PTE 77-4
The second sentence of Representation 9 in the Notice states that:
In addition, PNC has satisfied certain conditions in PTE 77-4.
The Department deletes this sentence and replaces it with the
following sentence:
In addition, PNC represents it has satisfied all the conditions
in PTE 77-4.
6. Technical Clarifications
The first paragraph of Section II(h) of the Notice and PTE 2010-26
(as corrected by this document) states:
A second fiduciary (Second Fiduciary), as defined below in
Section III, who is acting on behalf of a Client Plan receives, in
advance of any initial investment by a Plan Client in a Fund, full
and detailed written disclosure of information concerning such Fund
including but not limited to:
The Department deletes the term ``Plan Client'' and inserts
``Client Plan'' in lieu thereof. The Department corrects the first
paragraph of Section II(h) of the Notice and PTE 2010-26 to read as
follows:
A second fiduciary (Second Fiduciary), as defined below in
Section III, who is acting on behalf of a Client Plan receives, in
advance of any initial investment by a Client Plan in a Fund, full
and detailed written disclosure of information concerning such Fund
including but not limited to:
Additionally, Section III(k)(1) of the Notice states:
PNC is open for conducting all or substantially or substantially
all of its banking functions, and
[[Page 71152]]
The Department corrects Section III(k)(1) of the Notice and PTE
2010-26 to state:
PNC is open for conducting all or substantially all of its
banking functions, and
FOR FURTHER INFORMATION CONTACT: Mr. Anh-Viet Ly of the Department at
(202) 693-8648. (This is not a toll-free number.)
Signed at Washington, DC, this 17th day of November, 2010.
Ivan L. Strasfeld,
Director of Exemption Determinations, Employee Benefits Security
Administration, U.S. Department of Labor.
[FR Doc. 2010-29342 Filed 11-19-10; 8:45 am]
BILLING CODE 4510-29-P
