Proposed Collection; Comment Request, 13001-13002 [2011-5282]

Download as PDF Federal Register / Vol. 76, No. 46 / Wednesday, March 9, 2011 / Notices proprietary trading activity. The staff estimates that the average time spent per respondent is 100 hours per year on an ongoing basis to maintain the records required under the Rule. This estimate takes into account the fact that more than half the 5,030 respondents— according to financial reports filed with the Commission—may spend little or no time in complying with the rule, given that they do not do a public securities business or do not hold inventories of securities. For these reasons, the staff estimates that the total compliance burden per year is 503,000 hours (5,030 respondents × 100 hours/respondent). Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information has practical utility; (b) the accuracy of the Commission’s estimates of the burden of the proposed 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. The Commission may not conduct or sponsor a collection of information unless it displays a currently valid control number. No person shall be subject to any penalty for failing to comply with a collection of information subject to the PRA that does not display a valid Office of Management and Budget (OMB) control number. Comments should be directed to: Thomas Bayer, Chief Information Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312; or comments may be sent by e-mail to: PRA_Mailbox@sec.gov. Dated: March 2, 2011. Cathy H. Ahn, Deputy Secretary. [FR Doc. 2011–5280 Filed 3–8–11; 8:45 am] Emcdonald on DSK2BSOYB1PROD with NOTICES BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: U.S. Securities and Exchange Commission, Office of Investor VerDate Mar<15>2010 18:04 Mar 08, 2011 Jkt 223001 Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 17a–2; SEC File No. 270–189; OMB Control No. 3235–0201. 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’’) 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. Rule 17a–2 (17 CFR 240.17a–2)— Recordkeeping Requirements Relating to Stabilizing Activities Rule 17a–2 requires underwriters to maintain information regarding stabilizing activities conducted in accordance with Rule 104. The collections of information under Regulation M and Rule 17a–2 are necessary for covered persons to obtain certain benefits or to comply with certain requirements. The collections of information are necessary to provide the Commission with information regarding syndicate covering transactions and penalty bids. The Commission may review this information during periodic examinations or with respect to investigations. Except for the information required to be kept under Rule 104(i) (17 CFR 242.104(i)) and Rule 17a–2(c), none of the information required to be collected or disclosed for PRA purposes will be kept confidential. The recordkeeping requirement of Rule 17a–2 requires the information be maintained in a separate file, or in a separately retrievable format, for a period of three years, the first two years in an easily accessible place, consistent with the requirements of Exchange Act Rule 17a–4(f) (17 CFR 240.17a–4(f)). There are approximately 745 respondents per year that require an aggregate total of 3,725 hours to comply with this rule. Each respondent makes an estimated 1 annual response. Each response takes approximately 5 hours to complete. Thus, the total compliance burden per year is 3,725 burden hours. The total compliance cost for the respondents is approximately $212,213.25, resulting in a cost of compliance for the respondent per response of approximately $284.85 (i.e., $212,213.25/745 responses). Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the PO 00000 Frm 00070 Fmt 4703 Sfmt 4703 13001 information shall have practical utility; (b) the accuracy of the Commission’s estimates of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be 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. The Commission may not conduct or sponsor a collection of information unless it displays a currently valid control number. No person shall be subject to any penalty for failing to comply with a collection of information subject to the PRA that does not display a valid Office of Management and Budget (OMB) control number. Please direct your written comments to: Thomas Bayer, Chief Information Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312 or send an e-mail to: PRA_Mailbox@sec.gov. Dated: March 2, 2011. Cathy H. Ahn, Deputy Secretary. [FR Doc. 2011–5281 Filed 3–8–11; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: U.S. Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 19b–7 and Form 19b–7; OMB Control No. 3235–0553; SEC File No. 270–495. 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 (‘‘OMB’’) a request for approval of extension of the existing collection of information provided for in Rule 19b–7 (17 CFR 240.19b–7) and Form 19b–7— Filings with respect to proposed rule changes submitted pursuant to Section 19b(7) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). E:\FR\FM\09MRN1.SGM 09MRN1 13002 Federal Register / Vol. 76, No. 46 / Wednesday, March 9, 2011 / Notices The Exchange Act provides a framework for self-regulation under which various entities involved in the securities business, including national securities exchanges and national securities associations (collectively, selfregulatory organizations or ‘‘SROs’’), have primary responsibility for regulating their members or participants. The role of the Commission in this framework is primarily one of oversight: the Exchange Act charges the Commission with supervising the SROs and assuring that each complies with and advances the policies of the Exchange Act. The Exchange Act was amended by the Commodity Futures Modernization Act of 2000 (‘‘CFMA’’). Prior to the CFMA, federal law did not allow the trading of futures on individual stocks or on narrow-based stock indexes (collectively, ‘‘security futures products’’). The CFMA removed this restriction and provides that trading in security futures products would be regulated jointly by the Commission and the Commodity Futures Trading Commission (‘‘CFTC’’). The Exchange Act requires all SROs to submit to the SEC any proposals to amend, add, or delete any of their rules. Certain entities (Security Futures Product Exchanges) would be national securities exchanges only because they trade security futures products. Similarly, certain entities (Limited Purpose National Securities Associations) would be national securities associations only because their members trade security futures products. The Exchange Act, as amended by the CFMA, established a procedure for Security Futures Product Exchanges and Limited Purpose National Securities Associations to provide notice of proposed rule changes relating to certain matters.1 Rule 19b–7 and Form 19b–7 implemented this procedure. Effective April 28, 2008, the SEC amended Rule 19b–7 and Form 19b–7 to require that Form 19b–7 be submitted electronically.2 The collection of information is designed to provide the Commission with the information necessary to determine, as required by the Act, whether the proposed rule change is Emcdonald on DSK2BSOYB1PROD with NOTICES 1 These matters are higher margin levels, fraud or manipulation, recordkeeping, reporting, listing standards, or decimal pricing for security futures products; sales practices for security futures products for persons who effect transactions in security futures products; or rules effectuating the obligation of Security Futures Product Exchanges and Limited Purpose National Securities Associations to enforce the securities laws. See 15 U.S.C. 78s(b)(7)(A). 2 See Securities Exchange Act Release No. 57526 (March 19, 2008), 73 FR 16179 (March 27, 2008). VerDate Mar<15>2010 18:04 Mar 08, 2011 Jkt 223001 consistent with the Act and the rules thereunder. The information is used to determine if the proposed rule change should remain in affect or abrogated. The respondents to the collection of information are SROs. Five respondents file an average total of 12 responses per year. Each response takes approximately 13.25 hours to complete, which corresponds to an estimated annual response burden of 159 (12 responses × 13.25 hours) hours. The average cost per response is $4,465.50 (13.25 hours multiplied by a weighted average hourly rate of $337.02).3 Compliance with Rule 19b–7 is mandatory. Information received in response to Rule 19b–7 shall not be kept confidential; the information collected is public information. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimates of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be 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: Thomas Bayer, Chief Information Officer, Securities and Exchange Commission, C/O Remi Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312 or send an e-mail to: PRA_Mailbox@sec.gov. Dated: March 1, 2011. Cathy H. Ahn, Deputy Secretary. [FR Doc. 2011–5282 Filed 3–8–11; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor 3 The average cost per response is $4,465.50 (13.25 hours multiplied by a weighted average hourly rate of $337.02). The resultant total related cost of compliance for these respondents is $53,586 per year (12 responses × $4,465.50 per response). PO 00000 Frm 00071 Fmt 4703 Sfmt 4703 Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 206(3)–3T; SEC File No. 270–571; OMB Control No. 3235–0630. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 350 et seq.), the Securities and Exchange Commission (the ‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for extension and approval of the collections of information discussed below. Temporary rule 206(3)–3T (17 CFR 275.206(3)–3T) under the Investment Advisers Act of 1940 (15 U.S.C. 80b–1 et seq.) is entitled: ‘‘Temporary rule for principal trades with certain advisory clients.’’ The temporary rule provides investment advisers who are registered with the Commission as broker-dealers an alternative means to meet the requirements of section 206(3) of the Advisers Act (15 U.S.C. 80b–6(3)) when they act in a principal capacity in transactions with certain of their advisory clients. Temporary rule 206(3)–3T permits investment advisers also registered as broker-dealers to satisfy the Advisers Act’s principal trading restrictions by: (i) Providing written, prospective disclosure regarding the conflicts arising from principal trades; (ii) obtaining written, revocable consent from the client prospectively authorizing the adviser to enter into principal transactions; (iii) making oral or written disclosure and obtaining the client’s consent before each principal transaction; (iv) sending to the client confirmation statements disclosing the capacity in which the adviser has acted; and (v) delivering to the client an annual report itemizing the principal transactions. The Commission staff estimates that approximately 380 investment advisers make use of rule 206(3)–3T, including an estimated 24 advisers (on an annual basis) also registered as broker-dealers who do not offer non-discretionary services, but whom the Commission staff estimates will choose to do so and rely on rule 206(3)–3T. The Commission staff estimates that these advisers spend, in the aggregate, approximately 378,992 hours annually in complying with the requirements of the rule, including both initial and annual burdens. The aggregate hour burden, expressed on a per-eligible-adviser basis, is therefore approximately 997 hours per eligible adviser (378,992 hours divided by the estimated 380 advisers that will rely on rule 206(3)–3T). E:\FR\FM\09MRN1.SGM 09MRN1

Agencies

[Federal Register Volume 76, Number 46 (Wednesday, March 9, 2011)]
[Notices]
[Pages 13001-13002]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-5282]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: U.S. Securities and 
Exchange Commission, Office of Investor Education and Advocacy, 
Washington, DC 20549-0213.

Extension:
    Rule 19b-7 and Form 19b-7; OMB Control No. 3235-0553; SEC File 
No. 270-495.

    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 (``OMB'') a request for approval of extension of the 
existing collection of information provided for in Rule 19b-7 (17 CFR 
240.19b-7) and Form 19b-7--Filings with respect to proposed rule 
changes submitted pursuant to Section 19b(7) under the Securities 
Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange Act'').

[[Page 13002]]

    The Exchange Act provides a framework for self-regulation under 
which various entities involved in the securities business, including 
national securities exchanges and national securities associations 
(collectively, self-regulatory organizations or ``SROs''), have primary 
responsibility for regulating their members or participants. The role 
of the Commission in this framework is primarily one of oversight: the 
Exchange Act charges the Commission with supervising the SROs and 
assuring that each complies with and advances the policies of the 
Exchange Act.
    The Exchange Act was amended by the Commodity Futures Modernization 
Act of 2000 (``CFMA''). Prior to the CFMA, federal law did not allow 
the trading of futures on individual stocks or on narrow-based stock 
indexes (collectively, ``security futures products''). The CFMA removed 
this restriction and provides that trading in security futures products 
would be regulated jointly by the Commission and the Commodity Futures 
Trading Commission (``CFTC'').
    The Exchange Act requires all SROs to submit to the SEC any 
proposals to amend, add, or delete any of their rules. Certain entities 
(Security Futures Product Exchanges) would be national securities 
exchanges only because they trade security futures products. Similarly, 
certain entities (Limited Purpose National Securities Associations) 
would be national securities associations only because their members 
trade security futures products. The Exchange Act, as amended by the 
CFMA, established a procedure for Security Futures Product Exchanges 
and Limited Purpose National Securities Associations to provide notice 
of proposed rule changes relating to certain matters.\1\ Rule 19b-7 and 
Form 19b-7 implemented this procedure. Effective April 28, 2008, the 
SEC amended Rule 19b-7 and Form 19b-7 to require that Form 19b-7 be 
submitted electronically.\2\
---------------------------------------------------------------------------

    \1\ These matters are higher margin levels, fraud or 
manipulation, recordkeeping, reporting, listing standards, or 
decimal pricing for security futures products; sales practices for 
security futures products for persons who effect transactions in 
security futures products; or rules effectuating the obligation of 
Security Futures Product Exchanges and Limited Purpose National 
Securities Associations to enforce the securities laws. See 15 
U.S.C. 78s(b)(7)(A).
    \2\ See Securities Exchange Act Release No. 57526 (March 19, 
2008), 73 FR 16179 (March 27, 2008).
---------------------------------------------------------------------------

    The collection of information is designed to provide the Commission 
with the information necessary to determine, as required by the Act, 
whether the proposed rule change is consistent with the Act and the 
rules thereunder. The information is used to determine if the proposed 
rule change should remain in affect or abrogated.
    The respondents to the collection of information are SROs. Five 
respondents file an average total of 12 responses per year. Each 
response takes approximately 13.25 hours to complete, which corresponds 
to an estimated annual response burden of 159 (12 responses x 13.25 
hours) hours. The average cost per response is $4,465.50 (13.25 hours 
multiplied by a weighted average hourly rate of $337.02).\3\
---------------------------------------------------------------------------

    \3\ The average cost per response is $4,465.50 (13.25 hours 
multiplied by a weighted average hourly rate of $337.02). The 
resultant total related cost of compliance for these respondents is 
$53,586 per year (12 responses x $4,465.50 per response).
---------------------------------------------------------------------------

    Compliance with Rule 19b-7 is mandatory. Information received in 
response to Rule 19b-7 shall not be kept confidential; the information 
collected is public information.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates of the burden of the proposed collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be 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: Thomas Bayer, Chief 
Information Officer, Securities and Exchange Commission, C/O Remi 
Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312 or 
send an e-mail to: PRA_Mailbox@sec.gov.

    Dated: March 1, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-5282 Filed 3-8-11; 8:45 am]
BILLING CODE 8011-01-P