[Federal Register Volume 64, Number 73 (Friday, April 16, 1999)]
[Notices]
[Pages 18948-18949]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-9489]
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SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review, Comment Request
Upon Written Request, Copies Available From: Securities and
Exchange Commission, Office of Filings and Information Services,
Washington, DC 20549.
Extension:
Rule 101................ SEC File No. 270-408 OMB Control No. 3235-
0464.
Rule 102................ SEC File No. 270-409 OMB Control No. 3235-
0467.
Rule 103................ SEC File No. 270-410 OMB Control No. 3235-
0466.
Rule 104................ SEC File No. 270-411 OMB Control No. 3235-
0465.
Rule 17a-2.............. SEC File No. 270-189 OMB Control No. 3235-
0201.
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 requests for extension of the previously approved
collections of information discussed below.
Rules 101 and 102 prohibit 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 a
calculation of the average daily trading volume of the securities in
distribution, the maintenance of a written policy regarding general
compliance with
[[Page 18949]]
Regulation M for de minimums transactions. The Commission estimates
that 1,716 respondents collect information under Rule 101 and that
approximately 40,641 hours in the aggregate are required annually for
these collections. In addition, the Commission estimates that 791
respondents collect information under Rule 102 and that approximately
1,691 hours in the aggregate are required annually for these
collections.
Rule 103 permits passive market-making in Nasdaq securities during
a distribution. A distribution participant that seeks use of this
exception would be required to disclose to third parties its intention
to engage in passive market making. The Commission estimates that 227
respondents collect information under Rule 103 and that approximately
227 hours in the aggregate are required annually for these collections.
Rule 104 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. The Commission estimates that 641
respondents collect information under Rule 104 and that approximately
64.1 hours in the aggregate are required annually for these
collections.
Rule 17a-2 requires underwriters to maintain information regarding
stabilizing activities conducted in accordance with Rule 104. The
Commission estimates that 641 respondents collect information under
Rule 17a-2 and that approximately 3,205 hours in the aggregate are
required annually for these collections.
The collections of information under Regulation M and Rule 17a-2
are necessary for covered persons to obtain certain benefits or to
comply with certain requirements. The collections of information are
necessary to provide the Commission with information regarding
syndicate covering transactions and penalty bids. The Commission may
review this information during periodic examinations or with respect to
investigations. Except for the information required to be kept under
Rule 104(i) and Rule 17a-2(c), none of the information required to be
collected or disclosed for PRA purposes will be kept confidential.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the agency displays a
valid OMB control number.
The recordkeeping requirement of Rule 17a-2 requires the
information be maintained in a separate file, or in a separately
retrievable format, for a period of three years, the first two years in
an easily accessible place, consistent with the requirements of
Exchange Act Rule 17a-4(f).
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 10202, New Executive Office
Building, Washington, D.C. 20503; and (ii) Michael E. Bartell,
Associate Executive Director, Office of Information Technology,
Securities and Exchange Commission, 450 Fifth Street, N.W., Washington,
D.C. 20549. Comments must be submitted to OMB within 30 days of this
notice.
Dated: April 8, 1999.
Jonathan G. Katz,
Secretary.
[FR Doc. 99-9489 Filed 4-15-99; 8:45 am]
BILLING CODE 8010-01-M