Proposed Collection; Comment Request, 36604-36605 [2013-14452]

Download as PDF 36604 Federal Register / Vol. 78, No. 117 / Tuesday, June 18, 2013 / Notices temporary item.) Master files of an electronic information system used to create and manage vacancy announcements and develop lists of eligible applicants for federal jobs. 10. Special Inspector General for Afghanistan Reconstruction, Agencywide (N1–220–11–3, 25 items, 12 temporary items). Records include routine hotline investigative case files pertaining to waste, fraud, and abuse; reference files; notes; and working files. Proposed for permanent retention are executive program and correspondence files, speeches, congressional meeting files, formal legal opinions, and investigative case files of historical significance. Dated: June 11, 2013. Paul M. Wester, Jr., Chief Records Officer for the U.S. Government. [FR Doc. 2013–14402 Filed 6–17–13; 8:45 am] BILLING CODE 7515–01–P NATIONAL SCIENCE FOUNDATION Notice of Permits Issued Under the Antarctic Conservation Act of 1978 AGENCY: National Science Foundation. ACTION: Notice of permits issued under the Antarctic Conservation of 1978, Public Law 95–541. The National Science Foundation (NSF) is required to publish notice of permits issued under the Antarctic Conservation Act of 1978. This is the required notice. FOR FURTHER INFORMATION CONTACT: Nadene G. Kennedy, Permit Office, Office of Polar Programs, Rm. 755, National Science Foundation, 4201 Wilson Boulevard, Arlington, VA 22230. SUPPLEMENTARY INFORMATION: On May 13, 2013, the National Science Foundation published a notice in the Federal Register of a permit application received. A permit was issued on June 12, 2013 to: Celia Lang, Permit No. 2014–002. SUMMARY: Nadene G. Kennedy, Permit Officer. [FR Doc. 2013–14361 Filed 6–17–13; 8:45 am] mstockstill on DSK4VPTVN1PROD with NOTICES BILLING CODE 7555–01–P NUCLEAR REGULATORY COMMISSION [NRC–2013–0001] Sunshine Act Meetings AGENCY HOLDING THE MEETINGS: Nuclear Regulatory Commission. DATES: Weeks of June 17, 24, July 1, 8, 15, 22, 2013. VerDate Mar<15>2010 17:39 Jun 17, 2013 Jkt 229001 Commissioners’ Conference Room, 11555 Rockville Pike, Rockville, Maryland. STATUS: Public and Closed. PLACE: Week of June 17, 2013 There are no meetings scheduled for the week of June 17, 2013. Week of June 24, 2013—Tentative There are no meetings scheduled for the week of June 24, 2013. Week of July 1, 2013—Tentative There are no meetings scheduled for the week of July 1, 2013. Week of July 8, 2013—Tentative Tuesday, July 9, 2013 9:30 a.m. Briefing on Security Issues (Closed—Ex. 1) Wednesday, July 10, 2013 9:00 a.m. Briefing on NRC International Activities (Part 1) (Public Meeting) (Contact: Karen Henderson, 301–415–0202) This meeting will be web cast live at the Web address—www.nrc.gov. 10:30 a.m. Briefing on NRC International Activities (Part 2) (Closed—Ex. 1 & 9) (Contact: Karen Henderson, 301–415–0202). Thursday, July 11, 2013 9:30 a.m. Meeting with the Advisory Committee on Reactor Safeguards (ACRS) (Public Meeting) (Contact: Ed Hackett, 301–415–7360) This meeting will be webcast live at the Web address—www.nrc.gov Week of July 15, 2013—Tentative There are no meetings scheduled for the week of July 15, 2013. Week of July 22, 2013—Tentative There are no meetings scheduled for the week of July 22, 2013. * * * * * *The schedule for Commission meetings is subject to change on short notice. To verify the status of meetings, call (recording)—301–415–1292. Contact person for more information: Rochelle Bavol, 301–415–1651. * * * * * The NRC Commission Meeting Schedule can be found on the Internet at: https://www.nrc.gov/public-involve/ public-meetings/schedule.html. * * * * * The NRC provides reasonable accommodation to individuals with disabilities where appropriate. If you need a reasonable accommodation to participate in these public meetings, or need this meeting notice or the transcript or other information from the PO 00000 Frm 00099 Fmt 4703 Sfmt 4703 public meetings in another format (e.g. braille, large print), please notify Kimberly Meyer, NRC Disability Program Manager, at 301–287–0727, or by email at kimberly.meyerchambers@nrc.gov. Determinations on requests for reasonable accommodation will be made on a case-by-case basis. * * * * * This notice is distributed electronically to subscribers. If you no longer wish to receive it, or would like to be added to the distribution, please contact the Office of the Secretary, Washington, DC 20555 (301–415–1969), or send an email to darlene.wright@nrc.gov. Dated: June 13, 2013. Rochelle C. Bavol, Policy Coordinator, Office of the Secretary. [FR Doc. 2013–14586 Filed 6–14–13; 4:15 pm] BILLING CODE 7590–01–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: Rule 237, OMB Control No. 3235–0528, SEC File No. 270–465. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501–3520), the Securities and Exchange Commission (the ‘‘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. In Canada, as in the United States, individuals can invest a portion of their earnings in tax-deferred retirement savings accounts (‘‘Canadian retirement accounts’’). These accounts, which operate in a manner similar to individual retirement accounts in the United States, encourage retirement savings by permitting savings on a taxdeferred basis. Individuals who establish Canadian retirement accounts while living and working in Canada and who later move to the United States (‘‘Canadian-U.S. Participants’’ or ‘‘participants’’) often continue to hold their retirement assets in their Canadian E:\FR\FM\18JNN1.SGM 18JNN1 Federal Register / Vol. 78, No. 117 / Tuesday, June 18, 2013 / Notices retirement accounts rather than prematurely withdrawing (or ‘‘cashing out’’) those assets, which would result in immediate taxation in Canada. Once in the United States, however, these participants historically have been unable to manage their Canadian retirement account investments. Most securities that are ‘‘qualified investments’’ for Canadian retirement accounts are not registered under the U.S. securities laws. Those securities, therefore, generally cannot be publicly offered and sold in the United States without violating the registration requirement of the Securities Act of 1933 (‘‘Securities Act’’).1 As a result of this registration requirement, CanadianU.S. Participants previously were not able to purchase or exchange securities for their Canadian retirement accounts as needed to meet their changing investment goals or income needs. The Commission issued a rulemaking in 2000 that enabled Canadian-U.S. Participants to manage the assets in their Canadian retirement accounts by providing relief from the U.S. registration requirements for offers of securities of foreign issuers to CanadianU.S. Participants and sales to Canadian retirement accounts.2 Rule 237 under the Securities Act 3 permits securities of foreign issuers, including securities of foreign funds, to be offered to CanadianU.S. Participants and sold to their Canadian retirement accounts without being registered under the Securities Act. Rule 237 requires written offering documents for securities offered and sold in reliance on the rule to disclose prominently that the securities are not registered with the Commission and are exempt from registration under the U.S. securities laws. The burden under the rule associated with adding this disclosure to written offering documents is minimal and is non-recurring. The foreign issuer, underwriter, or brokerdealer can redraft an existing prospectus or other written offering material to add this disclosure statement, or may draft a sticker or supplement containing this mstockstill on DSK4VPTVN1PROD with NOTICES 1 15 U.S.C. 77. In addition, the offering and selling of securities of investment companies (‘‘funds’’) that are not registered pursuant to the Investment Company Act of 1940 (‘‘Investment Company Act’’) is generally prohibited by U.S. securities laws. 15 U.S.C. 80a. 2 See Offer and Sale of Securities to Canadian Tax-Deferred Retirement Savings Accounts, Release Nos. 33–7860, 34–42905, IC–24491 (June 7, 2000) [65 FR 37672 (June 15, 2000)]. This rulemaking also included new rule 7d–2 under the Investment Company Act, permitting foreign funds to offer securities to Canadian-U.S. Participants and sell securities to Canadian retirement accounts without registering as investment companies under the Investment Company Act. 17 CFR 270.7d–2. 3 17 CFR 230.237. VerDate Mar<15>2010 17:49 Jun 17, 2013 Jkt 229001 disclosure to be added to existing offering materials. In either case, based on discussions with representatives of the Canadian fund industry, the staff estimates that it would take an average of 10 minutes per document to draft the requisite disclosure statement. The Commission understands that there are approximately 4101 Canadian issuers other than funds that may rely on rule 237 to make an initial public offering of their securities to CanadianU.S. Participants.4 The staff estimates that in any given year approximately 41 (or 1 percent) of those issuers are likely to rely on rule 237 to make a public offering of their securities to participants, and that each of those 41 issuers, on average, distributes 3 different written offering documents concerning those securities, for a total of 123 offering documents. The staff therefore estimates that during each year that rule 237 is in effect, approximately 41 respondents 5 would be required to make 123 responses by adding the new disclosure statements to approximately 123 written offering documents. Thus, the staff estimates that the total annual burden associated with the rule 237 disclosure requirement would be approximately 20.5 hours (123 offering documents × 10 minutes per document). The total annual cost of burden hours is estimated to be $7769.50 (20.5 hours × $379 per hour of attorney time).6 In addition, issuers from foreign countries other than Canada could rely on rule 237 to offer securities to Canadian-U.S. Participants and sell 4 This estimate is based on the following calculation: 3970 equity issuers + 131 bond issuers = 4101 total issuers. See World Federation of Exchanges, Number of Listed Issuers, available at https://www.world-exchanges.org/statistics/annualquery-tool (providing number of equity issuers listed on Canada’s Toronto Stock Exchange in 2012). After 2009, the World Federation of Exchanges ceased reporting the number of fixedincome issuers on Canada’s Toronto Stock Exchange. The number of fixed-income issuers in 2012 is based on the ratio of the number of fixedincome issuers listed on Canada’s Toronto Stock Exchange in 2009 (111) relative to the number of bonds listed on that exchange in that year (178) multiplied against the number of bonds listed on that exchange in 2012 (210): (111/178) × 210 = 131. 5 This estimate of respondents only includes foreign issuers. The number of respondents would be greater if foreign underwriters or broker-dealers draft stickers or supplements to add the required disclosure to existing offering documents. 6 The Commission’s estimate concerning the wage rate for attorney time is based on salary information for the securities industry compiled by the Securities Industry and Financial Markets Association (‘‘SIFMA’’). The $379 per hour figure for an attorney is from SIFMA’s Management & Professional Earnings in the Securities Industry 2012, modified by Commission staff to account for an 1800-hour work-year and multiplied by 5.35 to account for bonuses, firm size, employee benefits, and overhead. PO 00000 Frm 00100 Fmt 4703 Sfmt 4703 36605 securities to their accounts without becoming subject to the registration requirements of the Securities Act. However, the staff believes that the number of issuers from other countries that rely on rule 237, and that therefore are required to comply with the offering document disclosure requirements, is negligible. These burden hour estimates are based upon the Commission staff’s experience and discussions with the fund industry. The estimates of average burden hours are made solely for the purposes of the Paperwork Reduction Act. These estimates are not derived from a comprehensive or even a representative survey or study of the costs of Commission rules. 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 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 email to: PRA_Mailbox@sec.gov. Dated: June 13, 2013. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–14452 Filed 6–17–13; 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: Rule 15Ba2–1 and Form MSD. SEC File No. 270–0088, OMB Control No. 3235–0083 Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (‘‘PRA’’) (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 15Ba2–1 (17 CFR 240.15Ba2–1) and Form MSD (17 CFR 249.1100), under the Securities and Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. E:\FR\FM\18JNN1.SGM 18JNN1

Agencies

[Federal Register Volume 78, Number 117 (Tuesday, June 18, 2013)]
[Notices]
[Pages 36604-36605]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-14452]


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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:
    Rule 237, OMB Control No. 3235-0528, SEC File No. 270-465.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501-3520), the Securities and Exchange 
Commission (the ``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.
    In Canada, as in the United States, individuals can invest a 
portion of their earnings in tax-deferred retirement savings accounts 
(``Canadian retirement accounts''). These accounts, which operate in a 
manner similar to individual retirement accounts in the United States, 
encourage retirement savings by permitting savings on a tax-deferred 
basis. Individuals who establish Canadian retirement accounts while 
living and working in Canada and who later move to the United States 
(``Canadian-U.S. Participants'' or ``participants'') often continue to 
hold their retirement assets in their Canadian

[[Page 36605]]

retirement accounts rather than prematurely withdrawing (or ``cashing 
out'') those assets, which would result in immediate taxation in 
Canada.
    Once in the United States, however, these participants historically 
have been unable to manage their Canadian retirement account 
investments. Most securities that are ``qualified investments'' for 
Canadian retirement accounts are not registered under the U.S. 
securities laws. Those securities, therefore, generally cannot be 
publicly offered and sold in the United States without violating the 
registration requirement of the Securities Act of 1933 (``Securities 
Act'').\1\ As a result of this registration requirement, Canadian-U.S. 
Participants previously were not able to purchase or exchange 
securities for their Canadian retirement accounts as needed to meet 
their changing investment goals or income needs.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 77. In addition, the offering and selling of 
securities of investment companies (``funds'') that are not 
registered pursuant to the Investment Company Act of 1940 
(``Investment Company Act'') is generally prohibited by U.S. 
securities laws. 15 U.S.C. 80a.
---------------------------------------------------------------------------

    The Commission issued a rulemaking in 2000 that enabled Canadian-
U.S. Participants to manage the assets in their Canadian retirement 
accounts by providing relief from the U.S. registration requirements 
for offers of securities of foreign issuers to Canadian-U.S. 
Participants and sales to Canadian retirement accounts.\2\ Rule 237 
under the Securities Act \3\ permits securities of foreign issuers, 
including securities of foreign funds, to be offered to Canadian-U.S. 
Participants and sold to their Canadian retirement accounts without 
being registered under the Securities Act.
---------------------------------------------------------------------------

    \2\ See Offer and Sale of Securities to Canadian Tax-Deferred 
Retirement Savings Accounts, Release Nos. 33-7860, 34-42905, IC-
24491 (June 7, 2000) [65 FR 37672 (June 15, 2000)]. This rulemaking 
also included new rule 7d-2 under the Investment Company Act, 
permitting foreign funds to offer securities to Canadian-U.S. 
Participants and sell securities to Canadian retirement accounts 
without registering as investment companies under the Investment 
Company Act. 17 CFR 270.7d-2.
    \3\ 17 CFR 230.237.
---------------------------------------------------------------------------

    Rule 237 requires written offering documents for securities offered 
and sold in reliance on the rule to disclose prominently that the 
securities are not registered with the Commission and are exempt from 
registration under the U.S. securities laws. The burden under the rule 
associated with adding this disclosure to written offering documents is 
minimal and is non-recurring. The foreign issuer, underwriter, or 
broker-dealer can redraft an existing prospectus or other written 
offering material to add this disclosure statement, or may draft a 
sticker or supplement containing this disclosure to be added to 
existing offering materials. In either case, based on discussions with 
representatives of the Canadian fund industry, the staff estimates that 
it would take an average of 10 minutes per document to draft the 
requisite disclosure statement.
    The Commission understands that there are approximately 4101 
Canadian issuers other than funds that may rely on rule 237 to make an 
initial public offering of their securities to Canadian-U.S. 
Participants.\4\ The staff estimates that in any given year 
approximately 41 (or 1 percent) of those issuers are likely to rely on 
rule 237 to make a public offering of their securities to participants, 
and that each of those 41 issuers, on average, distributes 3 different 
written offering documents concerning those securities, for a total of 
123 offering documents.
---------------------------------------------------------------------------

    \4\ This estimate is based on the following calculation: 3970 
equity issuers + 131 bond issuers = 4101 total issuers. See World 
Federation of Exchanges, Number of Listed Issuers, available at 
https://www.world-exchanges.org/statistics/annual-query-tool 
(providing number of equity issuers listed on Canada's Toronto Stock 
Exchange in 2012). After 2009, the World Federation of Exchanges 
ceased reporting the number of fixed-income issuers on Canada's 
Toronto Stock Exchange. The number of fixed-income issuers in 2012 
is based on the ratio of the number of fixed-income issuers listed 
on Canada's Toronto Stock Exchange in 2009 (111) relative to the 
number of bonds listed on that exchange in that year (178) 
multiplied against the number of bonds listed on that exchange in 
2012 (210): (111/178) x 210 = 131.
---------------------------------------------------------------------------

    The staff therefore estimates that during each year that rule 237 
is in effect, approximately 41 respondents \5\ would be required to 
make 123 responses by adding the new disclosure statements to 
approximately 123 written offering documents. Thus, the staff estimates 
that the total annual burden associated with the rule 237 disclosure 
requirement would be approximately 20.5 hours (123 offering documents x 
10 minutes per document). The total annual cost of burden hours is 
estimated to be $7769.50 (20.5 hours x $379 per hour of attorney 
time).\6\
---------------------------------------------------------------------------

    \5\ This estimate of respondents only includes foreign issuers. 
The number of respondents would be greater if foreign underwriters 
or broker-dealers draft stickers or supplements to add the required 
disclosure to existing offering documents.
    \6\ The Commission's estimate concerning the wage rate for 
attorney time is based on salary information for the securities 
industry compiled by the Securities Industry and Financial Markets 
Association (``SIFMA''). The $379 per hour figure for an attorney is 
from SIFMA's Management & Professional Earnings in the Securities 
Industry 2012, modified by Commission staff to account for an 1800-
hour work-year and multiplied by 5.35 to account for bonuses, firm 
size, employee benefits, and overhead.
---------------------------------------------------------------------------

    In addition, issuers from foreign countries other than Canada could 
rely on rule 237 to offer securities to Canadian-U.S. Participants and 
sell securities to their accounts without becoming subject to the 
registration requirements of the Securities Act. However, the staff 
believes that the number of issuers from other countries that rely on 
rule 237, and that therefore are required to comply with the offering 
document disclosure requirements, is negligible.
    These burden hour estimates are based upon the Commission staff's 
experience and discussions with the fund industry. The estimates of 
average burden hours are made solely for the purposes of the Paperwork 
Reduction Act. These estimates are not derived from a comprehensive or 
even a representative survey or study of the costs of Commission rules.
    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 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, VA 22312; or send an 
email to: PRA_Mailbox@sec.gov.

    Dated: June 13, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-14452 Filed 6-17-13; 8:45 am]
BILLING CODE 8011-01-P
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