Proposed Collection; Comment Request, 16841-16842 [2014-06602]

Download as PDF Federal Register / Vol. 79, No. 58 / Wednesday, March 26, 2014 / Notices and Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget the request for extension of the previously approved collection of information discussed below. Regulation 14D (17 CFR 240.14d–1— 240.14d–11) and Regulation 14E (17 CFR 240.14e–1—240.14f–1) and related Schedule 14D–9 (17 CFR 240.14d–101) require information important to security holders in deciding how to respond to tender offers. This information is made available to the public. Information provided on Schedule 14D–9 is mandatory. Schedule 14D–9 takes approximately 260.56 hours per response to prepare and is filed by 150 companies annually. We estimate that 25% of the 260.56 hours per response (65.14 hours) is prepared by the company for an annual reporting burden of 9,771 hours (65.14 hours per response × 150 responses). 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. The public may view the background documentation for this information collection at the following Web site, www.reginfo.gov . Comments should be directed to: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503, or by sending an email to: Shagufta_ Ahmed@omb.eop.gov; and (ii) 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. Comments must be submitted to OMB within 30 days of this notice. Dated: March 20, 2014. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–06608 Filed 3–25–14; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION sroberts on DSK5SPTVN1PROD with NOTICES 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 19b–7 and Form 19b–7, SEC File No. 270–495, OMB Control No. 3235–0553. VerDate Mar<15>2010 17:43 Mar 25, 2014 Jkt 232001 Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) (‘‘PRA’’), the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) is soliciting comments on 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’’). The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. 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 provided 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 notice registered national securities exchanges only because they trade security futures products. Similarly, certain entities (Limited Purpose National Securities Associations) would be limited purpose 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 1 These matters are higher margin levels, fraud or manipulation, recordkeeping, reporting, listing standards, or decimal pricing for security futures PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 16841 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 Exchange Act, whether the proposed rule change is consistent with the Exchange 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. Three respondents file an average total of 5 responses per year.3 Each response takes approximately 12.5 hours to complete and each amendment takes approximately 3 hours to complete, which correspond to an estimated annual response burden of 62.5 hours ((5 rule change proposals × 12.5 hours) + (0 amendments 4 × 3 hours)). The average cost per response is $4,533 (11.5 legal hours multiplied by an average hourly rate of $379 5 plus 1 hour of paralegal work multiplied by an average hourly rate of $175 6). The total resulting related cost of compliance for respondents is $22,668 per year (5 responses × $4,533 per response). Compliance with Rule 19b–7 is mandatory. Information received in response to Rule 19b–7 is not kept 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). 3 There are currently five Security Futures Product Exchanges and one Limited Purpose National Securities Association, the National Futures Authority. However, one Security Futures Product Exchange is dormant and two Security Futures Product Exchanges do not currently trade security futures products. Therefore, there are currently three respondents to Form 19b–7. 4 SEC staff notes that even though no amendments were received in the previous three years and that staff does not anticipate the receipt of any amendments, calculation of amendments is a separate step in the calculation of the PRA burden and it is possible that amendments are filed in the future. Therefore, instead of removing the calculation altogether, staff has shown the calculation as anticipating zero amendments. 5 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 workyear and multiplied by 5.35 to account for bonuses, firm size, employee benefits, and overhead. 6 The $175 per hour figure for a Paralegal is from SIFMA’s Management & Professional Earnings in the Securities Industry 2012, 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. E:\FR\FM\26MRN1.SGM 26MRN1 16842 Federal Register / Vol. 79, No. 58 / Wednesday, March 26, 2014 / Notices 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 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: March 20, 2014. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–06602 Filed 3–25–14; 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 Education and Advocacy, Washington, DC 20549–0213. sroberts on DSK5SPTVN1PROD with NOTICES Extension: Rule 425, OMB Control No. 3235–0521, SEC File No. 270–462. 19:00 Mar 25, 2014 Jkt 232001 Dated: March 20, 2014. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–06605 Filed 3–25–14; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION 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 the request for extension of the previously approved collection of information discussed below. Rule 425 (17 CFR 230.425) under the Securities Act of 1933 (15 U.S.C. 77a et seq.) requires the filing of certain prospectuses and communications VerDate Mar<15>2010 under Rule 135 (17 CFR 230.135) and Rule 165 (17 CFR 230.165) in connection with business combination transactions. The purpose of the rule is to permit more oral and written communications with shareholders about tender offers, mergers and other business combination transactions on a more timely basis, so long as the written communications are filed on the date of first use. The information provided under Rule 425 is made available to the public upon request. Also, the information provided under Rule 425 is mandatory. Approximately 2,650 issuers file communications under Rule 425 at an estimated 0.25 hours per response for a total of 663 annual burden hours (0.25 hours per response × 2,650 responses). 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. The public may view the background documentation for this information collection at the following Web site, www.reginfo.gov. Written comments regarding the above information should be directed to the following persons: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or send an email to: Shagufta_Ahmed@ omb.eop.gov; and (ii) 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. Comments must be submitted to OMB within 30 days of this notice. [OMB Control No. 3235–0313, SEC File No. 270–40] Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 203–2 and Form ADV–W. PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 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 extension of the previously approved collection of information discussed below. The title for the collection of information is ‘‘Rule 203–2 (17 CFR 275.203–2) and Form ADV–W (17 CFR 279.2) under the Investment Advisers Act of 1940 (15 U.S.C. 80b).’’ Rule 203– 2 under the Investment Advisers Act of 1940 establishes procedures for an investment adviser to withdraw its registration with the Commission. Rule 203–2 requires every person withdrawing from investment adviser registration with the Commission to file Form ADV–W electronically on the Investment Adviser Registration Depository (‘‘IARD’’). The purpose of the information collection is to notify the Commission and the public when an investment adviser withdraws its pending or approved SEC registration. Typically, an investment adviser files a Form ADV–W when it ceases doing business or when it is ineligible to remain registered with the Commission. The potential respondents to this information collection are all investment advisers registered with the Commission. The Commission has estimated that compliance with the requirement to complete Form ADV–W imposes a total burden of approximately 0.75 hours (45 minutes) for an adviser filing for full withdrawal and approximately 0.25 hours (15 minutes) for an adviser filing for partial withdrawal. Based on historical filings, the Commission estimates that there are approximately 600 respondents annually filing for full withdrawal and approximately 200 respondents annually filing for partial withdrawal. Based on these estimates, the total estimated annual burden would be 500 hours ((600 respondents × .75 hours) + (200 respondents × .25 hours)). Rule 203–2 and Form ADV–W do not require recordkeeping or records retention. The collection of information requirements under the rule and form are mandatory. The information collected pursuant to the rule and Form ADV–W are filings with the Commission. These filings are not 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 control number. The public may view the background documentation for this information collection at the following Web site, E:\FR\FM\26MRN1.SGM 26MRN1

Agencies

[Federal Register Volume 79, Number 58 (Wednesday, March 26, 2014)]
[Notices]
[Pages 16841-16842]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-06602]


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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 19b-7 and Form 19b-7, SEC File No. 270-495, OMB Control No. 
3235-0553.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange 
Commission (``SEC'' or ``Commission'') is soliciting comments on 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''). The 
Commission plans to submit this existing collection of information to 
the Office of Management and Budget for extension and approval.
    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 provided 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 notice registered 
national securities exchanges only because they trade security futures 
products. Similarly, certain entities (Limited Purpose National 
Securities Associations) would be limited purpose 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 
Exchange Act, whether the proposed rule change is consistent with the 
Exchange 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. Three 
respondents file an average total of 5 responses per year.\3\ Each 
response takes approximately 12.5 hours to complete and each amendment 
takes approximately 3 hours to complete, which correspond to an 
estimated annual response burden of 62.5 hours ((5 rule change 
proposals x 12.5 hours) + (0 amendments \4\ x 3 hours)). The average 
cost per response is $4,533 (11.5 legal hours multiplied by an average 
hourly rate of $379 \5\ plus 1 hour of paralegal work multiplied by an 
average hourly rate of $175 \6\). The total resulting related cost of 
compliance for respondents is $22,668 per year (5 responses x $4,533 
per response).
---------------------------------------------------------------------------

    \3\ There are currently five Security Futures Product Exchanges 
and one Limited Purpose National Securities Association, the 
National Futures Authority. However, one Security Futures Product 
Exchange is dormant and two Security Futures Product Exchanges do 
not currently trade security futures products. Therefore, there are 
currently three respondents to Form 19b-7.
    \4\ SEC staff notes that even though no amendments were received 
in the previous three years and that staff does not anticipate the 
receipt of any amendments, calculation of amendments is a separate 
step in the calculation of the PRA burden and it is possible that 
amendments are filed in the future. Therefore, instead of removing 
the calculation altogether, staff has shown the calculation as 
anticipating zero amendments.
    \5\ 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.
    \6\ The $175 per hour figure for a Paralegal 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.
---------------------------------------------------------------------------

    Compliance with Rule 19b-7 is mandatory. Information received in 
response to Rule 19b-7 is not kept

[[Page 16842]]

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 
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: March 20, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-06602 Filed 3-25-14; 8:45 am]
BILLING CODE 8011-01-P