Proposed Collection; Comment Request, 1435-1436 [2015-00139]
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Federal Register / Vol. 80, No. 6 / Friday, January 9, 2015 / Notices
National Science Foundation Act, as
amended (42 U.S.C. 1862n–5), and the
Government in the Sunshine Act (5
U.S.C. 552b), hereby gives notice of the
scheduling of a teleconference for the
transaction of National Science Board
business, as follows:
DATE AND TIME: Friday, January 16, 2015,
10–11 a.m. EST.
SUBJECT MATTER: SEI chair’s remarks,
and discussion of the Companion
Report to Science & Engineering
Indicators 2014.
STATUS: Open.
This meeting will be held by
teleconference. A public listening line
will be available. Members of the public
must contact the Board Office (call 703–
292–7000 or send an email message to
nationalsciencebrd@nsf.gov) at least 24
hours prior to the teleconference for the
public listening number. Please refer to
the National Science Board Web site
www.nsf.gov/nsb for additional
information and schedule updates (time,
place, subject matter or status of
meeting) which may be found at
https://www.nsf.gov/nsb/notices/. Point
of contact for this meeting is Matt
Wilson at mbwilson@nsf.gov.
Ann Bushmiller,
Senior Counsel to the National Science Board.
[FR Doc. 2015–00237 Filed 1–7–15; 4:15 pm]
BILLING CODE 7555–01–P
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: U.S. Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE., Washington, DC
20549–2736.
rljohnson on DSK3VPTVN1PROD with NOTICES
Extension: Reports of Evidence of Material
Violations.
SEC File No. 270–514, OMB Control No.
3235–0572.
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 of the previously approved
collection of information discussed
below.
On February 6, 2003, the Commission
published final rules, effective August 5,
2003, entitled ‘‘Standards of
VerDate Sep<11>2014
14:56 Jan 08, 2015
Jkt 235001
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 QLCC may
communicate the information 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. In providing quality
representation to issuers, attorneys may
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
11,396 issuers that are subject to the
rules.1 Of these, we estimate that
1 This figure is based on the estimated 8,145
operating companies that filed annual reports on
PO 00000
Frm 00050
Fmt 4703
Sfmt 4703
1435
approximately 3.3 percent, or 373, 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 746 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 $186,500.
The estimate of average burden hours
is made solely for the purposes of the
Paperwork Reduction Act, and is not
derived from a comprehensive or even
a representative survey or study. 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 OMB control
number.
Written comments are requested on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information has practical utility; (b) the
accuracy of the Commission’s estimate
of the burden[s] 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.
Please direct your written comments
to Pamela Dyson, Acting Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 100 F St. NE., Washington, DC
20549; or send an email to: PRA_
Mailbox@sec.gov.
Form 10–K, Form 20–F, or Form 40–F during the
2013 fiscal year (the most recent data currently
available), and the estimated 3,251 investment
companies that filed periodic reports on Form N–
SAR between June 1, 2013 and May 31, 2014 (the
most recent data currently available).
2 This estimate is based on the issuer filings made
with the Commission during the past three years
that include a reference to the issuer’s QLCC.
E:\FR\FM\09JAN1.SGM
09JAN1
1436
Federal Register / Vol. 80, No. 6 / Friday, January 9, 2015 / Notices
Dated: January 5, 2015.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2015–00139 Filed 1–8–15; 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 FOIA
Services, 100 F Street NE.,
Washington, DC 20549–2736.
rljohnson on DSK3VPTVN1PROD with NOTICES
Extension:
Rule 15g–3, SEC File No. 270–346, OMB
Control No. 3235–0392.
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 15g–3—Broker or
dealer disclosure of quotations and
other information relating to the penny
stock market (17 CFR 240.15g–3) 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 15g–3 requires that brokers and
dealers disclose to customers current
quotation prices or similar market
information in connection with
transactions in penny stocks. The
purpose of the rule is to increase the
level of disclosure to investors
concerning penny stocks generally and
specific penny stock transactions.
The Commission estimates that
approximately 221 broker-dealers will
spend an average of 87 hours annually
to comply with this rule. Thus, the total
compliance burden is approximately
19,245 burden-hours per year.
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 agency’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
VerDate Sep<11>2014
14:56 Jan 08, 2015
Jkt 235001
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: Pamela Dyson, Acting 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: January 5, 2015.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2015–00138 Filed 1–8–15; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
31404; File No. 812–14381]
Morgan Stanley Smith Barney LLC and
Morgan Stanley Global Investment
Solutions; Notice of Application
January 5, 2015
Securities and Exchange
Commission (‘‘Commission’’).
ACTION: Notice of application for an
order under section 12(d)(1)(J) of the
Investment Company Act of 1940
(‘‘Act’’) for an exemption from sections
12(d)(1)(A), (B) and (C) of the Act, and
under sections 6(c) and 17(b) of the Act
for an exemption from section 17(a) of
the Act.
AGENCY:
Summary of the Application:
Applicants request an order that would
permit certain series of a unit
investment trust (‘‘UIT’’) registered
under the Act to acquire shares of
registered management investment
companies and unit investment trusts or
series thereof (the ‘‘Funds’’) both within
and outside the same group of
investment companies.
Applicants: Morgan Stanley Smith
Barney LLC (the ‘‘Depositor’’), and
Morgan Stanley Global Investment
Solutions (‘‘MS GIS’’).
DATES: Filing Date: The application was
filed on October 22, 2014.
Hearing or Notification of Hearing: An
order granting the requested relief will
be issued unless the Commission orders
a hearing. Interested persons may
request a hearing by writing to the
Commission’s Secretary and serving
applicants with a copy of the request,
personally or by mail. Hearing requests
should be received by the Commission
SUMMARY:
PO 00000
Frm 00051
Fmt 4703
Sfmt 4703
by 5:30 p.m. on January 29, 2015, and
should be accompanied by proof of
service on applicants in the form of an
affidavit or, for lawyers, a certificate of
service. Pursuant to rule 0–5 under the
Act, hearing requests should state the
nature of the writer’s interest, any facts
bearing upon the desirability of a
hearing on the matter, the reason for the
request, and the issues contested.
Persons who wish to be notified of a
hearing may request notification by
writing to the Commission’s Secretary.
ADDRESSES: Secretary, U.S. Securities
and Exchange Commission, 100 F Street
NE., Washington, DC 20549–1090.
Applicants: 2000 Westchester Avenue,
Purchase, NY 10577.
FOR FURTHER INFORMATION CONTACT:
Emerson S. Davis, Senior Counsel, at
(202) 551–6868, or Daniele Marchesani,
Branch Chief, at (202) 551–6821
(Division of Investment Management,
Chief Counsel’s Office).
SUPPLEMENTARY INFORMATION: The
following is a summary of the
application. The complete application
may be obtained via the Commission’s
Web site by searching for the file
number, or for an applicant using the
Company name box, at https://
www.sec.gov/search/search.htm or by
calling (202) 551–8090.
Applicants’ Representations
1. The Trust is a UIT registered under
the Act.1 Each Series will be a series of
a Trust and will offer units for sale to
the public (‘‘Units’’). Each Series will be
created pursuant to a trust agreement
which will incorporate by reference a
master trust agreement between the
Depositor and a financial institution
that satisfies the criteria in section 26(a)
of the Act (the ‘‘Trustee’’). The
Depositor is a broker dealer registered
under the Securities Exchange Act of
1934 and is a member of the Financial
Industry Regulatory Authority, Inc.
(‘‘FINRA’’).
2. Applicants request relief to permit
a Series to invest in registered
investment companies or series thereof
(‘‘Funds’’) that are (a) part of the same
‘‘group of investment companies’’ (as
that term is defined in section
12(d)(1)(G) of the Act) as the Series
(‘‘Affiliated Funds’’), and (b) not part of
1 Applicants request that the order also extend to
future registered UITs sponsored by the Depositor
or an entity controlling, controlled by or under
common control with the Depositor and their
respective series (the future UITs, together with the
Trust, are collectively the ‘‘Trusts’’ and the series
of the Trusts are the ‘‘Series’’). All existing entities
that currently intend to rely on the requested order
are named as applicants. Any other entity that relies
on the order in the future will comply with the
terms and conditions of the application.
E:\FR\FM\09JAN1.SGM
09JAN1
]]>Agencies
[Federal Register Volume 80, Number 6 (Friday, January 9, 2015)]
[Notices]
[Pages 1435-1436]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-00139]
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SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Upon Written Request, Copies Available From: U.S. Securities and
Exchange Commission, Office of FOIA Services, 100 F Street NE.,
Washington, DC 20549-2736.
Extension: Reports of Evidence of Material Violations.
SEC File No. 270-514, OMB Control No. 3235-0572.
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 of the previously approved
collection of information discussed below.
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 Sarbanes-Oxley 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 QLCC may
communicate the information 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. In
providing quality representation to issuers, attorneys may 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 11,396
issuers that are subject to the rules.\1\ Of these, we estimate that
approximately 3.3 percent, or 373, 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 746 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
$186,500.
---------------------------------------------------------------------------
\1\ This figure is based on the estimated 8,145 operating
companies that filed annual reports on Form 10-K, Form 20-F, or Form
40-F during the 2013 fiscal year (the most recent data currently
available), and the estimated 3,251 investment companies that filed
periodic reports on Form N-SAR between June 1, 2013 and May 31, 2014
(the most recent data currently available).
\2\ This estimate is based on the issuer filings made with the
Commission during the past three years that include a reference to
the issuer's QLCC.
---------------------------------------------------------------------------
The estimate of average burden hours is made solely for the
purposes of the Paperwork Reduction Act, and is not derived from a
comprehensive or even a representative survey or study. 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 OMB
control number.
Written comments are requested on: (a) Whether the collection of
information is necessary for the proper performance of the functions of
the Commission, including whether the information has practical
utility; (b) the accuracy of the Commission's estimate of the burden[s]
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.
Please direct your written comments to Pamela Dyson, Acting
Director/Chief Information Officer, Securities and Exchange Commission,
c/o Remi Pavlik-Simon, 100 F St. NE., Washington, DC 20549; or send an
email to: PRA_Mailbox@sec.gov.
[[Page 1436]]
Dated: January 5, 2015.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2015-00139 Filed 1-8-15; 8:45 am]
BILLING CODE 8011-01-P
