Proposed Collection; Comment Request, 65222-65223 [2011-27093]
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65222
Federal Register / Vol. 76, No. 203 / Thursday, October 20, 2011 / Notices
estimates that the average cost per
respondent is $65.18 per year,
calculated as the costs of copying
($13.97) plus storage ($51.21), resulting
in a total cost of compliance for the
respondents of $977.70.
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 shall have practical utility;
(b) the accuracy of the Commission’s
estimate 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.
Comments should be directed to
Thomas Bayer, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way,
Alexandria, VA 22312 or send an e-mail
to: PRA_Mailbox@sec.gov.
October 14, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–27098 Filed 10–19–11; 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.
sroberts on DSK5SPTVN1PROD with NOTICES
Extension:
Rule 19d–2; OMB Control No. 3235–0205;
SEC File No. 270–204.
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 existing collection of information
provided for in Rule 19d–2—
Applications for Stays of Final
Disciplinary Sanction (17 CFR 240.19d–
2) under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.) (‘‘Exchange
Act’’). The Commission plans to submit
this existing collection of information to
VerDate Mar<15>2010
18:59 Oct 19, 2011
Jkt 226001
the Office of Management and Budget
(‘‘OMB’’) for extension and approval.
Rule 19d–2 under the Exchange Act
prescribes the form and content of
applications to the Commission by
persons desiring stays of final
disciplinary sanctions and summary
action of self-regulatory organizations
(‘‘SROs’’) for which the Commission is
the appropriate regulatory agency.
It is estimated that approximately
fifteen respondents will utilize this
application procedure annually, with a
total burden of 45 hours, based upon
past submissions. The staff estimates
that the average number of hours
necessary to comply with the
requirements of Rule 19d–2 is 3 hours.
Based on the most recent available
information, the Commission staff
estimates that the cost to respondents of
complying with the requirements of
Rule 19d–2 is $876 per response.
Therefore, the Commission staff
estimates that the total annual reporting
cost per respondent is $876 (1 response/
respondent/year × $876 cost/response),
for a total annual related cost to all
respondents of $13,140 ($876 cost/
respondent × 15 respondents).
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.
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 control number.
Please direct your written comments
to: Thomas Bayer, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way,
Alexandria, VA 22312 or send an e-mail
to: PRA_Mailbox@sec.gov.
PO 00000
Frm 00065
Fmt 4703
Sfmt 4703
Dated: October 13, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–27097 Filed 10–19–11; 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 11a1–1(T); OMB Control No. 3235–
0478; SEC File No. 270–428.
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 for Rule 11a1–1(T)—
Transactions Yielding Priority, Parity,
and Precedence.
On January 27, 1976, the Commission
adopted Rule 11a1–1(T)—Transactions
Yielding Priority, Parity, and
Precedence (17 CFR 240.11a1–1(T))
under the Securities Exchange Act of
1934 (15 U.S.C. 78 et seq.) (‘‘Exchange
Act’’), to exempt certain transactions of
exchange members for their own
accounts that would otherwise be
prohibited under Section 11(a) of the
Exchange Act. The rule provides that a
member’s proprietary order may be
executed on the exchange of which the
trader is a member, if, among other
things: (1) The member discloses that a
bid or offer for its account is for its
account to any member with whom
such bid or offer is placed or to whom
it is communicated; (2) any such
member through whom that bid or offer
is communicated discloses to others
participating in effecting the order that
it is for the account of a member; and
(3) immediately before executing the
order, a member (other than a specialist
in such security) presenting any order
for the account of a member on the
exchange clearly announces or
otherwise indicates to the specialist and
to other members then present that he
is presenting an order for the account of
a member.
Without these requirements, it would
not be possible for the Commission to
monitor its mandate under the Exchange
E:\FR\FM\20OCN1.SGM
20OCN1
Federal Register / Vol. 76, No. 203 / Thursday, October 20, 2011 / Notices
sroberts on DSK5SPTVN1PROD with NOTICES
Act to promote fair and orderly markets
and ensure that exchange members
have, as the principle purpose of their
exchange memberships, the conduct of
a public securities business.
There are approximately 763
respondents that require an aggregate
total of 22 hours to comply with this
rule. Each of these approximately 763
respondents makes an estimated 20
annual responses, for an aggregate of
15,260 responses per year. Each
response takes approximately 5 seconds
to complete. Thus, the total compliance
burden per year is 22 hours (15,260 × 5
seconds/60 seconds per minute/60
minutes per hour = 22 hours). The
approximate cost per hour is $282,
resulting in a total cost of compliance
for the annual burden of $6,204 (22
hours @ $282).
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.
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, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way,
Alexandria, Virginia 22312 or send an email to: PRA_Mailbox@sec.gov.
October 14, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–27093 Filed 10–19–11; 8:45 am]
BILLING CODE 8011–01–P
VerDate Mar<15>2010
18:59 Oct 19, 2011
Jkt 226001
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.
Reports of Evidence of:
SEC File No. 270–514, OMB Control
No. 3235–0572.
Material Violations
Notice is hereby given that pursuant
to the Paperwork Reduction Act (PRA)
of 1995, 44 U.S.C. Sections 3501–3520,
the Securities and Exchange
Commission (‘‘Commission’’) is
soliciting comments on the collection of
information summarized below. The
Commission plans to submit the
existing collection of information to the
Office of Management and Budget for
extension.
On February 6, 2003, the Commission
published final rules, effective August 5,
2003, entitled ‘‘Standards of
Professional Conduct for Attorneys
Appearing and Practicing Before the
Commission in the Representation of an
Issuer’’ (17 CFR 205.1–205.7). The
information collection embedded in the
rules is necessary to implement the
Standards of Professional Conduct for
Attorneys prescribed by the rule and
required by Section 307 of the SarbanesOxley Act of 2002 (15 U.S.C. 7245). The
rules impose an ‘‘up-the-ladder’’
reporting requirement when attorneys
appearing and practicing before the
Commission become aware of evidence
of a material violation by the issuer or
any officer, director, employee, or agent
of the issuer. An issuer may choose to
establish a qualified legal compliance
committee (‘‘QLCC’’) as an alternative
procedure for reporting evidence of a
material violation. In the rare cases in
which a majority of a QLCC has
concluded that an issuer did not act
appropriately, the information may be
communicated to the Commission. The
collection of information is, therefore,
an important component of the
Commission’s program to discourage
violations of the Federal securities laws
and promote ethical behavior of
attorneys appearing and practicing
before the Commission.
The respondents to this collection of
information are attorneys who appear
and practice before the Commission
and, in certain cases, the issuer, and/or
officers, directors and committees of the
issuer. We believe that, in providing
quality representation to issuers,
PO 00000
Frm 00066
Fmt 4703
Sfmt 4703
65223
attorneys report evidence of violations
to others within the issuer, including
the Chief Legal Officer, the Chief
Executive Officer, and, where necessary,
the directors. In addition, officers and
directors investigate evidence of
violations and report within the issuer
the results of the investigation and the
remedial steps they have taken or
sanctions they have imposed. Except as
discussed below, we therefore believe
that the reporting requirements imposed
by the rule are ‘‘usual and customary’’
activities that do not add to the burden
that would be imposed by the collection
of information.
Certain aspects of the collection of
information, however, may impose a
burden. For an issuer to establish a
QLCC, the QLCC must adopt written
procedures for the confidential receipt,
retention, and consideration of any
report of evidence of a material
violation. We estimate for purposes of
the PRA that there are approximately
16,517 issuers that are subject to the
rules.1 Of these, we estimate that
approximately 3.8%, or 637, have
established or will establish a QLCC.2
Establishing the written procedures
required by the rule should not impose
a significant burden. We assume that an
issuer would incur a greater burden in
the year that it first establishes the
procedures than in subsequent years, in
which the burden would be incurred in
updating, reviewing, or modifying the
procedures. For purposes of the PRA,
we assume that an issuer would spend
6 hours every three-year period on the
procedures. This would result in an
average burden of 2 hours per year.
Thus, we estimate for purposes of the
PRA that the total annual burden
imposed by the collection of
information would be 1,274 hours.
Assuming half of the burden hours will
be incurred by outside counsel at a rate
of $500 per hour would result in a cost
of $318,500.
The estimate of average burden hours
is made solely for the purposes of the
Paperwork Reduction Act, and is not
1 This estimate is based, in part, on the total
number of operating companies that filed annual
reports on Form 10–K, Form 20–F, or Form 40–F,
during the 2011 fiscal year and an estimate of the
average number of issuers that may have a
registration statement filed under the Securities Act
pending with the Commission at any time (14,000).
In addition, we estimate that approximately 2,517
investment companies currently file periodic
reports on Form N–SAR.
2 We base this estimate on the number of issuers
who have reported in filings with the Commission
that they have created QLCCs. Indications are that
the 2005 estimate of the percentage of issuers that
would establish QLCCs (10%) was high. Our
adjusted estimate in the percentage of QLCCs
(3.8%) results in a reduced burden estimate as
compared to the previously-approved collection.
E:\FR\FM\20OCN1.SGM
20OCN1
]]>Agencies
[Federal Register Volume 76, Number 203 (Thursday, October 20, 2011)]
[Notices]
[Pages 65222-65223]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-27093]
-----------------------------------------------------------------------
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 11a1-1(T); OMB Control No. 3235-0478; SEC File No. 270-428.
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 for Rule 11a1-1(T)--Transactions
Yielding Priority, Parity, and Precedence.
On January 27, 1976, the Commission adopted Rule 11a1-1(T)--
Transactions Yielding Priority, Parity, and Precedence (17 CFR
240.11a1-1(T)) under the Securities Exchange Act of 1934 (15 U.S.C. 78
et seq.) (``Exchange Act''), to exempt certain transactions of exchange
members for their own accounts that would otherwise be prohibited under
Section 11(a) of the Exchange Act. The rule provides that a member's
proprietary order may be executed on the exchange of which the trader
is a member, if, among other things: (1) The member discloses that a
bid or offer for its account is for its account to any member with whom
such bid or offer is placed or to whom it is communicated; (2) any such
member through whom that bid or offer is communicated discloses to
others participating in effecting the order that it is for the account
of a member; and (3) immediately before executing the order, a member
(other than a specialist in such security) presenting any order for the
account of a member on the exchange clearly announces or otherwise
indicates to the specialist and to other members then present that he
is presenting an order for the account of a member.
Without these requirements, it would not be possible for the
Commission to monitor its mandate under the Exchange
[[Page 65223]]
Act to promote fair and orderly markets and ensure that exchange
members have, as the principle purpose of their exchange memberships,
the conduct of a public securities business.
There are approximately 763 respondents that require an aggregate
total of 22 hours to comply with this rule. Each of these approximately
763 respondents makes an estimated 20 annual responses, for an
aggregate of 15,260 responses per year. Each response takes
approximately 5 seconds to complete. Thus, the total compliance burden
per year is 22 hours (15,260 x 5 seconds/60 seconds per minute/60
minutes per hour = 22 hours). The approximate cost per hour is $282,
resulting in a total cost of compliance for the annual burden of $6,204
(22 hours @ $282).
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.
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, Director/
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.
October 14, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-27093 Filed 10-19-11; 8:45 am]
BILLING CODE 8011-01-P
