Agency Information Collection Activities; Submission for OMB Review; Comment Request; Prohibited Transaction Class Exemption 1998-54 Relating to Certain Employee Benefit Plan Foreign Exchange Transactions Executed Pursuant to Standing Instructions, 35575-35576 [2014-14553]

Download as PDF Federal Register / Vol. 79, No. 120 / Monday, June 23, 2014 / Notices collection techniques or other forms of information technology, e.g., permitting electronic submission of responses. DEPARTMENT OF JUSTICE [OMB Number 1117–0051] Agency Information Collection Activities; Proposed eCollection eComments Requested; Extension of a Previously Approved Collection Red Ribbon Week Patch Drug Enforcement Administration, Department of Justice. ACTION: 60-Day notice. AGENCY: The Department of Justice (DOJ), Drug Enforcement Administration (DEA), will be submitting the following information collection request to the Office of Management and Budget (OMB) for review and approval in accordance with the Paperwork Reduction Act of 1995. The proposed information collection is published to obtain comments from the public and affected agencies. DATES: Comments are encouraged and will be accepted for 60 days until August 22, 2014. FOR FURTHER INFORMATION CONTACT: If you have additional comments especially on the estimated public burden or associated response time, suggestions, or need a copy of the proposed information collection instrument with instructions or additional information, please contact Deb Augustine, Acting Chief, Demand Reduction Section, 8701 Morrissette Drive, Springfield, VA 22152 (phone: 202–307–4777). SUPPLEMENTARY INFORMATION: This process is conducted in accordance with 5 CFR 1320.10. Written comments and suggestions from the public and affected agencies concerning the proposed collection of information are encouraged. Your comments should address one or more of the following four points: —Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the Bureau of Justice Statistics, including whether the information will have practical utility; —Evaluate the accuracy of the agency’s estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; —Evaluate whether and if so how the quality, utility, and clarity of the information to be collected can be enhanced; and —Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological emcdonald on DSK67QTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 17:33 Jun 20, 2014 Jkt 232001 Overview of this information collection: 1. Type of Information Collection: Extension of a previously approved collection. 2. The Title of the Form/Collection: Red Ribbon Week Patch Activity Report. 3. The agency form number, if any and the applicable component of the Department sponsoring the collection: The form number is DEA–316a. The applicable component within the Department of Justice is the Drug Enforcement Administration, Demand Reduction Section. 4. Affected public who will be asked or required to respond, as well as a brief abstract: Primary: Boy Scout and Girl Scout Troop Leaders. Other: None. DEA is requesting approval of an extension, with change, to an existing collection that requests information from Boy/Girl Scout Troop Leaders who express an interest in participating in DEA Red Ribbon Week Activities. This information is then used to mail patches to participants as indication of completion of the suggested activities. 5. An estimate of the total number of respondents and the amount of time estimated for an average respondent to respond: An estimated 450 Boy/Girl Scout troop leaders will take part in the Red Ribbon Week Patch activities. It is estimated that it will take 10 minutes to complete the DEA–316a, DEA Red Ribbon Week Patch Activity Report. 6. An estimate of the total public burden (in hours) associated with the collection: The estimated public burden associated with this collection is 75 hours. If additional information is required contact: Jerri Murray, Department Clearance Officer, United States Department of Justice, Justice Management Division, Policy and Planning Staff, Two Constitution Square, 145 N Street NE., 3E.405B, Washington, DC 20530. Dated: June 18, 2014. Jerri Murray, Department Clearance Officer for PRA, U.S. Department of Justice. [FR Doc. 2014–14580 Filed 6–20–14; 8:45 am] BILLING CODE 4410–09–P PO 00000 Frm 00064 Fmt 4703 Sfmt 4703 35575 DEPARTMENT OF LABOR Office of the Secretary Agency Information Collection Activities; Submission for OMB Review; Comment Request; Prohibited Transaction Class Exemption 1998–54 Relating to Certain Employee Benefit Plan Foreign Exchange Transactions Executed Pursuant to Standing Instructions ACTION: Notice. The Department of Labor (DOL) is submitting the Employee Benefits Security Administration (EBSA) sponsored information collection request (ICR) titled, ‘‘Prohibited Transaction Class Exemption 1998–54 Relating to Certain Employee Benefit Plan Foreign Exchange Transactions Executed Pursuant to Standing Instructions,’’ to the Office of Management and Budget (OMB) for review and approval for continued use, without change, in accordance with the Paperwork Reduction Act of 1995 (PRA), 44 U.S.C. 3501 et seq. Public comments on the ICR are invited. DATES: The OMB will consider all written comments that agency receives on or before July 23, 2014. ADDRESSES: A copy of this ICR with applicable supporting documentation; including a description of the likely respondents, proposed frequency of response, and estimated total burden may be obtained free of charge from the RegInfo.gov Web site at http:// www.reginfo.gov/public/do/ PRAViewICR?ref_nbr=201404-1210-001 (this link will only become active on the day following publication of this notice) or by contacting Michel Smyth by telephone at 202–693–4129, TTY 202– 693–8064, (these are not toll-free numbers) or by email at DOL_PRA_ PUBLIC@dol.gov. Submit comments about this request by mail or courier to the Office of Information and Regulatory Affairs, Attn: OMB Desk Officer for DOL–EBSA, Office of Management and Budget, Room 10235, 725 17th Street NW., Washington, DC 20503; by Fax: 202– 395–6881 (this is not a toll-free number); or by email: OIRA_ submission@omb.eop.gov. Commenters are encouraged, but not required, to send a courtesy copy of any comments by mail or courier to the U.S. Department of Labor—OASAM, Office of the Chief Information Officer, Attn: Departmental Information Compliance Management Program, Room N1301, 200 Constitution Avenue NW., SUMMARY: E:\FR\FM\23JNN1.SGM 23JNN1 35576 Federal Register / Vol. 79, No. 120 / Monday, June 23, 2014 / Notices Washington, DC 20210; or by email: DOL_PRA_PUBLIC@dol.gov. FOR FURTHER INFORMATION CONTACT: Michel Smyth by telephone at 202–693– 4129, TTY 202–693–8064, (these are not toll-free numbers) or by email at DOL_ PRA_PUBLIC@dol.gov. Authority: 44 U.S.C. 3507(a)(1)(D). This ICR seeks to extend PRA authority for the information collection requirements contained in Prohibited Transaction Class Exemption (PTE) 1998–54, which relates to certain employee benefit plan foreign exchange transactions executed pursuant to standing instructions. The PTE permits certain foreign exchange transactions between employee benefit plans and certain banks and brokerdealers that are parties in interest with respect to such plans. In order that such transactions will be consistent with the requirements of Employee Retirement Income Security Act (ERISA) section 408(a), 29 U.S.C. 1108(a), the PTE imposes the following conditions at the time the foreign exchange transaction is entered into: (a) The terms of the transaction must not be less favorable than those available in comparable arm’s-length transactions between unrelated parties or those afforded by the bank or the broker-dealer in comparable arm’s-length transactions involving unrelated parties; (b) neither the bank nor the broker-dealer has any discretionary authority with respect to the investment of the assets involved in the transaction; (c) the bank or brokerdealer maintains at all times written policies and procedures regarding the handling of foreign exchange transactions for plans for which it is a party in interest which ensure that the party acting for the bank or the brokerdealer knows it is dealing with a plan; (d) the transactions are performed in accordance with a written authorization executed in advance by an independent fiduciary of the plan whose assets are involved in the transaction and who is independent of the bank or brokerdealer engaging in the covered transaction; (e) transactions are executed within one business day of receipt of funds; (f) the bank or the broker-dealer, at least once a day at a time specified in written procedures, establishes a rate or range of rates of exchange to be used for the transactions covered by this exemption and executes transactions at either the next scheduled time or no later than twenty-four (24) hours after receipt of notice of receipt of funds; (g) prior to execution of a transaction, the bank or the brokerdealer provides the authorizing fiduciary with a copy of the applicable emcdonald on DSK67QTVN1PROD with NOTICES SUPPLEMENTARY INFORMATION: VerDate Mar<15>2010 17:33 Jun 20, 2014 Jkt 232001 written policies and procedures for foreign exchange transactions involving income item conversions and de minimis purchase and sale transactions; (h) the bank or the broker-dealer furnishes the authorizing fiduciary a written confirmation statement with respect to each covered transaction within five (5) days of execution; and (i) the bank or the broker-dealer maintains, for six (6) years after the date of the transaction, records necessary for plan fiduciaries, participants, and the DOL and Internal Revenue Service to determine whether the conditions of the exemption have been met. See 63 FR 63503. The Internal Revenue Code and ERISA authorize this information collection. See 26 U.S.C. 4975 and 29 U.S.C. 1108. This information collection is subject to the PRA. A Federal agency generally cannot conduct or sponsor a collection of information, and the public is generally not required to respond to an information collection, unless it is approved by the OMB under the PRA and displays a currently valid OMB Control Number. In addition, notwithstanding any other provisions of law, no person shall generally be subject to penalty for failing to comply with a collection of information that does not display a valid Control Number. See 5 CFR 1320.5(a) and 1320.6. The DOL obtains OMB approval for this information collection under Control Number 1210–0111. OMB authorization for an ICR cannot be for more than three (3) years without renewal, and the current approval for this collection is scheduled to expire on June 30, 2014. The DOL seeks to extend PRA authorization for this information collection for three (3) more years, without any change to existing requirements. The DOL notes that existing information collection requirements submitted to the OMB receive a month-to-month extension while they undergo review. For additional substantive information about this ICR, see the related notice published in the Federal Register on November 29, 2013 (78 FR 71668). Interested parties are encouraged to send comments to the OMB, Office of Information and Regulatory Affairs at the address shown in the ADDRESSES section within 30 days of publication of this notice in the Federal Register. In order to help ensure appropriate consideration, comments should mention OMB Control Number 1210– 0111. The OMB is particularly interested in comments that: • Evaluate whether the proposed collection of information is necessary for the proper performance of the PO 00000 Frm 00065 Fmt 4703 Sfmt 4703 functions of the agency, including whether the information will have practical utility; • Evaluate the accuracy of the agency’s estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; • Enhance the quality, utility, and clarity of the information to be collected; and • Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., permitting electronic submission of responses. Agency: DOL–EBSA. Title of Collection: Prohibited Transaction Class Exemption 1998–54 Relating to Certain Employee Benefit Plan Foreign Exchange Transactions Executed Pursuant to Standing Instructions. OMB Control Number: 1210–0111. Affected Public: Private Sectorbusinesses or other for-profits and notfor-profit institutions. Total Estimated Number of Respondents: 35. Total Estimated Number of Responses: 420,000. Total Estimated Annual Time Burden: 4,200 hours. Total Estimated Annual Other Costs Burden: $0. Dated: June 5, 2014. Michel Smyth, Departmental Clearance Officer. [FR Doc. 2014–14553 Filed 6–20–14; 8:45 am] BILLING CODE 4510–29–P LEGAL SERVICES CORPORATION Sunshine Act Meeting Notice The Legal Services Corporation’s Finance Committee will meet telephonically on June 27, 2014. The meeting will commence at 1:00 p.m., EDT, and will continue until the conclusion of the Committee’s agenda. LOCATION: John N. Erlenborn Conference Room, Legal Services Corporation Headquarters, 3333 K Street NW., Washington, DC 20007. PUBLIC OBSERVATION: Members of the public who are unable to attend in person but wish to listen to the public proceedings may do so by following the telephone call-in directions provided below. CALL-IN DIRECTIONS FOR OPEN SESSIONS: • Call toll-free number: 1–866–451– 4981; DATE AND TIME: E:\FR\FM\23JNN1.SGM 23JNN1

Agencies

[Federal Register Volume 79, Number 120 (Monday, June 23, 2014)]
[Notices]
[Pages 35575-35576]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-14553]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF LABOR

Office of the Secretary


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Prohibited Transaction Class Exemption 1998-54 
Relating to Certain Employee Benefit Plan Foreign Exchange Transactions 
Executed Pursuant to Standing Instructions

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Department of Labor (DOL) is submitting the Employee 
Benefits Security Administration (EBSA) sponsored information 
collection request (ICR) titled, ``Prohibited Transaction Class 
Exemption 1998-54 Relating to Certain Employee Benefit Plan Foreign 
Exchange Transactions Executed Pursuant to Standing Instructions,'' to 
the Office of Management and Budget (OMB) for review and approval for 
continued use, without change, in accordance with the Paperwork 
Reduction Act of 1995 (PRA), 44 U.S.C. 3501 et seq. Public comments on 
the ICR are invited.

DATES: The OMB will consider all written comments that agency receives 
on or before July 23, 2014.

ADDRESSES: A copy of this ICR with applicable supporting documentation; 
including a description of the likely respondents, proposed frequency 
of response, and estimated total burden may be obtained free of charge 
from the RegInfo.gov Web site at http://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=201404-1210-001 (this link will only become active 
on the day following publication of this notice) or by contacting 
Michel Smyth by telephone at 202-693-4129, TTY 202-693-8064, (these are 
not toll-free numbers) or by email at DOL_PRA_PUBLIC@dol.gov.
    Submit comments about this request by mail or courier to the Office 
of Information and Regulatory Affairs, Attn: OMB Desk Officer for DOL-
EBSA, Office of Management and Budget, Room 10235, 725 17th Street NW., 
Washington, DC 20503; by Fax: 202-395-6881 (this is not a toll-free 
number); or by email: OIRA_submission@omb.eop.gov. Commenters are 
encouraged, but not required, to send a courtesy copy of any comments 
by mail or courier to the U.S. Department of Labor--OASAM, Office of 
the Chief Information Officer, Attn: Departmental Information 
Compliance Management Program, Room N1301, 200 Constitution Avenue NW.,

[[Page 35576]]

Washington, DC 20210; or by email: DOL_PRA_PUBLIC@dol.gov.

FOR FURTHER INFORMATION CONTACT: Michel Smyth by telephone at 202-693-
4129, TTY 202-693-8064, (these are not toll-free numbers) or by email 
at DOL_PRA_PUBLIC@dol.gov.

    Authority:  44 U.S.C. 3507(a)(1)(D).

SUPPLEMENTARY INFORMATION: This ICR seeks to extend PRA authority for 
the information collection requirements contained in Prohibited 
Transaction Class Exemption (PTE) 1998-54, which relates to certain 
employee benefit plan foreign exchange transactions executed pursuant 
to standing instructions. The PTE permits certain foreign exchange 
transactions between employee benefit plans and certain banks and 
broker-dealers that are parties in interest with respect to such plans. 
In order that such transactions will be consistent with the 
requirements of Employee Retirement Income Security Act (ERISA) section 
408(a), 29 U.S.C. 1108(a), the PTE imposes the following conditions at 
the time the foreign exchange transaction is entered into: (a) The 
terms of the transaction must not be less favorable than those 
available in comparable arm's-length transactions between unrelated 
parties or those afforded by the bank or the broker-dealer in 
comparable arm's-length transactions involving unrelated parties; (b) 
neither the bank nor the broker-dealer has any discretionary authority 
with respect to the investment of the assets involved in the 
transaction; (c) the bank or broker-dealer maintains at all times 
written policies and procedures regarding the handling of foreign 
exchange transactions for plans for which it is a party in interest 
which ensure that the party acting for the bank or the broker-dealer 
knows it is dealing with a plan; (d) the transactions are performed in 
accordance with a written authorization executed in advance by an 
independent fiduciary of the plan whose assets are involved in the 
transaction and who is independent of the bank or broker-dealer 
engaging in the covered transaction; (e) transactions are executed 
within one business day of receipt of funds; (f) the bank or the 
broker-dealer, at least once a day at a time specified in written 
procedures, establishes a rate or range of rates of exchange to be used 
for the transactions covered by this exemption and executes 
transactions at either the next scheduled time or no later than twenty-
four (24) hours after receipt of notice of receipt of funds; (g) prior 
to execution of a transaction, the bank or the broker-dealer provides 
the authorizing fiduciary with a copy of the applicable written 
policies and procedures for foreign exchange transactions involving 
income item conversions and de minimis purchase and sale transactions; 
(h) the bank or the broker-dealer furnishes the authorizing fiduciary a 
written confirmation statement with respect to each covered transaction 
within five (5) days of execution; and (i) the bank or the broker-
dealer maintains, for six (6) years after the date of the transaction, 
records necessary for plan fiduciaries, participants, and the DOL and 
Internal Revenue Service to determine whether the conditions of the 
exemption have been met. See 63 FR 63503. The Internal Revenue Code and 
ERISA authorize this information collection. See 26 U.S.C. 4975 and 29 
U.S.C. 1108.
    This information collection is subject to the PRA. A Federal agency 
generally cannot conduct or sponsor a collection of information, and 
the public is generally not required to respond to an information 
collection, unless it is approved by the OMB under the PRA and displays 
a currently valid OMB Control Number. In addition, notwithstanding any 
other provisions of law, no person shall generally be subject to 
penalty for failing to comply with a collection of information that 
does not display a valid Control Number. See 5 CFR 1320.5(a) and 
1320.6. The DOL obtains OMB approval for this information collection 
under Control Number 1210-0111.
    OMB authorization for an ICR cannot be for more than three (3) 
years without renewal, and the current approval for this collection is 
scheduled to expire on June 30, 2014. The DOL seeks to extend PRA 
authorization for this information collection for three (3) more years, 
without any change to existing requirements. The DOL notes that 
existing information collection requirements submitted to the OMB 
receive a month-to-month extension while they undergo review. For 
additional substantive information about this ICR, see the related 
notice published in the Federal Register on November 29, 2013 (78 FR 
71668).
    Interested parties are encouraged to send comments to the OMB, 
Office of Information and Regulatory Affairs at the address shown in 
the ADDRESSES section within 30 days of publication of this notice in 
the Federal Register. In order to help ensure appropriate 
consideration, comments should mention OMB Control Number 1210-0111. 
The OMB is particularly interested in comments that:
     Evaluate 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;
     Evaluate the accuracy of the agency's estimate of the 
burden of the proposed collection of information, including the 
validity of the methodology and assumptions used;
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Minimize the burden of the collection of information on 
those who are to respond, including through the use of appropriate 
automated, electronic, mechanical, or other technological collection 
techniques or other forms of information technology, e.g., permitting 
electronic submission of responses.
    Agency: DOL-EBSA.
    Title of Collection: Prohibited Transaction Class Exemption 1998-54 
Relating to Certain Employee Benefit Plan Foreign Exchange Transactions 
Executed Pursuant to Standing Instructions.
    OMB Control Number: 1210-0111.
    Affected Public: Private Sector-businesses or other for-profits and 
not-for-profit institutions.
    Total Estimated Number of Respondents: 35.
    Total Estimated Number of Responses: 420,000.
    Total Estimated Annual Time Burden: 4,200 hours.
    Total Estimated Annual Other Costs Burden: $0.

    Dated: June 5, 2014.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2014-14553 Filed 6-20-14; 8:45 am]
BILLING CODE 4510-29-P