Proposed Collection; Comment Request, 15003 [2011-6363]
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Federal Register / Vol. 76, No. 53 / Friday, March 18, 2011 / Notices
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seq.) to require any national securities
exchange, national securities
association, alternative trading system,
exchange market maker, over-thecounter market maker and any other
broker-dealer that executes orders
internally by trading as principal or
crossing orders as agent, to establish,
maintain, and enforce written policies
and procedures reasonably designed to
prevent the execution of a transaction in
its market at a price that is inferior to
a bid or offer displayed in another
market at the time of execution (a
‘‘trade-though’’), absent an applicable
exception and, if relying on an
exception, that are reasonably designed
to assure compliance with the terms of
the exception. Without this collection of
information, respondents would not
have a means to enforce compliance
with the Commission’s intention to
prevent trade-throughs pursuant to the
rule.
There are approximately 658
respondents 1 per year that will require
an aggregate total of 39,480 hours to
comply with this rule.2 It is anticipated
that each respondent will continue to
expend approximately 60 hours
annually: two hours per month of
internal legal time and three hours per
month of internal compliance time to
ensure that its written policies and
procedures are up-to-date and remain in
compliance with Rule 611. The
estimated cost for an in-house attorney
is $354 per hour and the estimated cost
for an assistant compliance director in
the securities industry is $320 per hour.
Therefore the estimated total cost of
compliance for the annual hour burden
is as follows: [(2 legal hours × 12 months
× $354) × 658] + [(3 compliance hours
× 12 months × $320) × 658] =
$13,170,528.3 There are no longer startup costs associated with Rule 611.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
1 This estimate includes thirteen national
securities exchanges and one national securities
association that trade NMS stocks. The estimate
also includes the approximately 601 firms that were
registered equity market makers or specialists at
year-end 2009, as well as 43 alternative trading
systems that operate trading systems that trade
NMS stocks.
2 The one-time hour burden associated with
developing the required policies and procedures is
no longer applicable.
3 The total cost of compliance for the annual hour
burden has been revised to reflect updated
estimated cost figures for an in-house attorney and
an assistant compliance director. These figures are
from SIFMA’s Management & Professional Earnings
in the Securities Industry 2010, modified by
Commission staff to account for an 1800-hour workyear and multiplied by 5.35 to account for bonuses,
firm size, employee benefits and overhead.
VerDate Mar<15>2010
18:30 Mar 17, 2011
Jkt 223001
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.
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 14, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011–6313 Filed 3–17–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of Investor
Education and Advocacy,
Washington, DC 20549–0213.
Extension:
Form N–8B–4; SEC File No. 270–180;
OMB Control No. 3235–0247.
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 (‘‘OMB’’) for
extension and approval.
Form N–8B–4 (17 CFR 274.14) is the
form used by face-amount certificate
companies to comply with the filing and
disclosure requirements imposed by
PO 00000
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Fmt 4703
Sfmt 9990
15003
Section 8(b) of the Investment Company
Act of 1940 (15 U.S.C. 80a–8(b)). Form
N–8B–4 requires disclosure about the
face-amount certificate company’s
organization, controlling persons,
business, policies, securities,
investment adviser, depositary,
management personnel, compensation,
and financial statements. The
Commission uses the information
provided in the collection of
information to determine compliance
with Section 8(b) of the Investment
Company Act of 1940.
Based on the Commission’s industry
statistics, the Commission estimates that
there would be approximately one
annual filing on Form N–8B–4. The
Commission estimates that each
registrant filing a Form N–8B–4 would
spend 171 hours in preparing and filing
the Form and that the total hour burden
for all Form N–8B–4 filings would be
171 hours. Estimates of the burden
hours are made solely for the purposes
of the PRA, and are not derived from a
comprehensive or even a representative
survey or study of the costs of SEC rules
and forms.
The information provided on Form
N–8B–4 is mandatory. The information
provided on Form N–8B–4 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 OMB 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
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,
VA 22312; or send an e-mail to:
PRA_Mailbox@sec.gov.
Dated: March 15, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011–6363 Filed 3–17–11; 8:45 am]
BILLING CODE 8011–01–P
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]]>Agencies
[Federal Register Volume 76, Number 53 (Friday, March 18, 2011)]
[Notices]
[Page 15003]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-6363]
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SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of Investor Education and Advocacy, Washington, DC
20549-0213.
Extension:
Form N-8B-4; SEC File No. 270-180; OMB Control No. 3235-0247.
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 (``OMB'') for extension and approval.
Form N-8B-4 (17 CFR 274.14) is the form used by face-amount
certificate companies to comply with the filing and disclosure
requirements imposed by Section 8(b) of the Investment Company Act of
1940 (15 U.S.C. 80a-8(b)). Form N-8B-4 requires disclosure about the
face-amount certificate company's organization, controlling persons,
business, policies, securities, investment adviser, depositary,
management personnel, compensation, and financial statements. The
Commission uses the information provided in the collection of
information to determine compliance with Section 8(b) of the Investment
Company Act of 1940.
Based on the Commission's industry statistics, the Commission
estimates that there would be approximately one annual filing on Form
N-8B-4. The Commission estimates that each registrant filing a Form N-
8B-4 would spend 171 hours in preparing and filing the Form and that
the total hour burden for all Form N-8B-4 filings would be 171 hours.
Estimates of the burden hours are made solely for the purposes of the
PRA, and are not derived from a comprehensive or even a representative
survey or study of the costs of SEC rules and forms.
The information provided on Form N-8B-4 is mandatory. The
information provided on Form N-8B-4 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 OMB 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
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, VA 22312; or send an
e-mail to: PRA_Mailbox@sec.gov.
Dated: March 15, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-6363 Filed 3-17-11; 8:45 am]
BILLING CODE 8011-01-P
