Technical Correction and Clarification for Prohibited Transaction Exemption (PTE) 2010-26, PNC Financial Services Group, Inc., 71151-71152 [2010-29342]

Download as PDF Federal Register / Vol. 75, No. 224 / Monday, November 22, 2010 / Notices training content, and in capturing video testimonials from field locations? Can the applicant provide adequate studio space and all equipment necessary to produce the required deliverables? Note: NIC will not award a cooperative agreement to an applicant who does not have a Dun and Bradstreet Database Universal Number (DUNS) and is not registered in the Central Contractor Registry (CCR). A DUNS number can be received at no cost by calling the dedicated toll-free DUNS number request line at 1–800– 333–0505 (if you are a sole proprietor, you would dial 1–866–705–5711 and select option 1). Registration in the CRR can be done online at the CRR Web site: http:// www.crr.gov. A CRR Handbook and worksheet can also be reviewed at the Web site. Number of Awards: One. NIC Opportunity Number: 11AC02. This number should appear as a reference line in your cover letter, where indicated on Standard Form 424, and on the outside of the envelope in which the application is sent. Catalog Federal Domestic Assistance Number: 16.601. Executive Order 12372: This program is not subject to the provisions of Executive Order 12372. Morris L. Thigpen, Director, National Institute of Corrections. 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 PO 00000 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: http:// www.nrc.gov/public-involve/doccomment/omb/index.html. 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 http:// 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 22NON1

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[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