Proposed Collection; Comment Request, 68871-68872 [2013-27325]

Download as PDF Federal Register / Vol. 78, No. 221 / Friday, November 15, 2013 / Notices is an annual statement of beneficial ownership of securities. Approximately 4,600 reporting persons file Form 5 annually and we estimate that it takes approximately one hour to prepare the form for a total of 4,600 annual burden hours. Written comments are invited on: (a) Whether this 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 imposed by 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. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. Please direct your written comment to Thomas Bayer, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington, DC 20549 or send an email to: PRA_ Mailbox@sec.gov. Dated: November 8, 2013. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–27346 Filed 11–14–13; 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. emcdonald on DSK67QTVN1PROD with NOTICES Extension: Rule 104; SEC File No. 270–411, OMB Control No. 3235–0465. 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 104 of Regulation M (17 CFR 242.104), under the Securities Exchange Act of 1934 (15 VerDate Mar<15>2010 16:58 Nov 14, 2013 Jkt 232001 U.S.C. 78a et seq.). The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Rule 104—Stabilizing and Other Activities in Connection with an Offering—permits stabilizing by a distribution participant during a distribution so long as the distribution participant discloses information to the market and investors. This rule requires disclosure in offering materials of the potential stabilizing transactions and that the distribution participant inform the market when a stabilizing bid is made. It also requires the distribution participants (i.e. the syndicate manager) to maintain information regarding syndicate covering transactions and penalty bids and disclose such information to the Self-Regulatory Organization. There are approximately 795 respondents per year that require an aggregate total of 159 hours to comply with this rule. Each respondent makes an estimated 1 annual response. Each response takes approximately 0.20 hours (12 minutes) to complete. Thus, the total compliance burden per year is 159 hours. The total estimated internal labor compliance cost for the respondents is approximately $10,017.00, resulting in an estimated internal labor cost of compliance for the respondent per response of approximately $12.60 (i.e., $10,017/795 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 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. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. Please direct your written comments to: Thomas Bayer, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington, PO 00000 Frm 00062 Fmt 4703 Sfmt 4703 68871 DC 20549 or send an email to: PRA_ Mailbox@sec.gov. Dated: November 8, 2013. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–27327 Filed 11–14–13; 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 102, SEC File No. 270–409, OMB Control No. 3235–0467. 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 102 of Regulation M (17 CFR 242.102), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Rule 102—Activities by Issuers and Selling Security Holders During a Distribution—prohibits distribution participants, issuers, and selling security holders from purchasing activities at specified times during a distribution of securities. Persons otherwise covered by these rules may seek to use several applicable exceptions such as exclusion for actively traded reference securities and the maintenance of policies regarding information barriers between their affiliates. There are approximately 945 respondents per year that require an aggregate total of 1,845 hours to comply with this rule. Each respondent makes an estimated 1 annual response. Each response takes on average approximately 1.952 hours to complete. Thus, the total compliance burden per year is 1,845 burden hours. The total compliance cost for the respondents is approximately $116,235.00, resulting in a cost of compliance for the respondent per response of approximately $123.00 (i.e., $116,235.00/945 responses). These are internal labor costs and there are no other costs. E:\FR\FM\15NON1.SGM 15NON1 68872 Federal Register / Vol. 78, No. 221 / Friday, November 15, 2013 / Notices 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 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. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. Please direct your written comments to: Thomas Bayer, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington, DC 20549 or send an email to: PRA_Mailbox@sec.gov. Dated: November 8, 2013. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–27325 Filed 11–14–13; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–70843; File No. PCAOB– 2013–02] Public Company Accounting Oversight Board; Notice of Filing of Proposed Rules on Auditing Standard No. 17, Auditing Supplemental Information Accompanying Audited Financial Statements and Related Amendments to PCAOB Standards emcdonald on DSK67QTVN1PROD with NOTICES November 8, 2013. Pursuant to Section 107(b) of the Sarbanes-Oxley Act of 2002 (the ‘‘Sarbanes-Oxley Act’’), notice is hereby given that on October 30, 2013, the Public Company Accounting Oversight Board (the ‘‘Board’’ or the ‘‘PCAOB’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’ or ‘‘SEC’’) the proposed rules described in items I and II below, which items have been prepared by the Board. The Commission is publishing this notice to solicit comments on the proposed rules from interested persons. VerDate Mar<15>2010 16:58 Nov 14, 2013 Jkt 232001 I. Board’s Statement of the Terms of Substance of the Proposed Rules On October 10, 2013, the Board adopted Auditing Standard No. 17, Auditing Supplemental Information Accompanying Audited Financial Statements and related amendments to its interim auditing standards (collectively, the ‘‘proposed rules’’). The text of the proposed rules is set out below. Auditing Standard No. 17 Auditing Supplemental Information Accompanying Audited Financial Statements Introduction 1. This standard sets forth the auditor’s responsibilities when the auditor of the company’s financial statements is engaged to perform audit procedures and report on supplemental information 1 that accompanies financial statements 2 audited pursuant to Public Company Accounting Oversight Board (‘‘PCAOB’’) standards. Objective 2. The objective of the auditor of the financial statements, when engaged to perform audit procedures and report on supplemental information that accompanies audited financial statements, is to obtain sufficient appropriate audit evidence to express an opinion on whether the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole. Performing Audit Procedures on Supplemental Information Accompanying Audited Financial Statements 3. The auditor should perform audit procedures to obtain appropriate audit evidence that is sufficient to support the auditor’s opinion regarding whether the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole. The nature, timing, and extent of audit procedures necessary to obtain sufficient appropriate audit evidence and to report on the supplemental information depends on, among other things: a. The risk of material misstatement of the supplemental information; 1 Terms defined in Appendix A, Definitions, are set in boldface type the first time they appear. 2 For purposes of this standard, supplemental information ‘‘accompanies financial statements’’ when it is (1) presented in the same document as the audited financial statements, (2) presented in a document in which the audited financial statements are incorporated by reference, or (3) incorporated by reference in a document containing the audited financial statements. PO 00000 Frm 00063 Fmt 4703 Sfmt 4703 b. The materiality considerations relevant to the information presented; Note: When planning and performing the audit procedures to report on supplemental information, the auditor generally should use the same materiality considerations as those used in planning and performing the audit of the financial statements.3 However, if applicable regulatory requirements specify a lower materiality level to be applied to certain supplemental information, the auditor should use those prescribed threshold requirements in planning and performing audit procedures for the supplemental information. c. The evidence obtained from the audit of the financial statements and, if applicable, other engagements by the auditor or affiliates of the firm,4 for the period presented; and Note: The procedures performed regarding the supplemental information should be planned and performed in conjunction with the audit of the financial statements. For audits of brokers and dealers, the procedures should be coordinated with the attestation engagements related to compliance or exemption reports required by the U.S. Securities and Exchange Commission (‘‘SEC’’).5 The auditor should take into account relevant evidence from the audit of the financial statements and, for audits of brokers or dealers, the attestation engagements, in planning and performing audit procedures related to the supplemental information and in evaluating the results of the audit procedures to form the opinion on the supplemental information. d. Whether a qualified opinion, an adverse opinion, or a disclaimer of opinion was issued on the financial statements. 4. In performing the audit procedures on supplemental information, the auditor should: a. Obtain an understanding of the purpose of the supplemental information and the criteria management used to prepare the supplemental information, including relevant regulatory requirements; 3 Auditing Standard No. 11, Consideration of Materiality in Planning and Performing an Audit, establishes requirements regarding the auditor’s consideration of materiality in planning and performing an audit. 4 The term ‘‘affiliates of the firm’’ as used in this standard has the same meaning as the term ‘‘affiliates of the accounting firm’’ as defined in PCAOB Rule 3501. 5 See Attestation Standard No. 1, Examination Engagements Regarding Compliance Reports of Brokers and Dealers, and Attestation Standard No. 2, Review Engagements Regarding Exemption Reports of Brokers and Dealers. E:\FR\FM\15NON1.SGM 15NON1

Agencies

[Federal Register Volume 78, Number 221 (Friday, November 15, 2013)]
[Notices]
[Pages 68871-68872]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-27325]


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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 102, SEC File No. 270-409, OMB Control No. 3235-0467.

    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 102 of Regulation M (17 
CFR 242.102), under the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.). The Commission plans to submit this existing collection of 
information to the Office of Management and Budget (``OMB'') for 
extension and approval.
    Rule 102--Activities by Issuers and Selling Security Holders During 
a Distribution--prohibits distribution participants, issuers, and 
selling security holders from purchasing activities at specified times 
during a distribution of securities. Persons otherwise covered by these 
rules may seek to use several applicable exceptions such as exclusion 
for actively traded reference securities and the maintenance of 
policies regarding information barriers between their affiliates.
    There are approximately 945 respondents per year that require an 
aggregate total of 1,845 hours to comply with this rule. Each 
respondent makes an estimated 1 annual response. Each response takes on 
average approximately 1.952 hours to complete. Thus, the total 
compliance burden per year is 1,845 burden hours. The total compliance 
cost for the respondents is approximately $116,235.00, resulting in a 
cost of compliance for the respondent per response of approximately 
$123.00 (i.e., $116,235.00/945 responses). These are internal labor 
costs and there are no other costs.

[[Page 68872]]

    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 
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.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    Please direct your written comments to: Thomas Bayer, Director/
Chief Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549 or send an email 
to: PRA_Mailbox@sec.gov.

    Dated: November 8, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-27325 Filed 11-14-13; 8:45 am]
BILLING CODE 8011-01-P
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