[Federal Register Volume 66, Number 172 (Wednesday, September 5, 2001)]
[Notices]
[Page 46485]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-22175]


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SECURITIES AND EXCHANGE COMMISSION

  


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, 
DC 20549.
Extension:
    Rule 10b-18; SEC File No. 270-416; OMB Control No. 3235-0474.

    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) is soliciting comments on the collection of 
information summarized below. The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget for extension and approval.
    Rule 10b-18 under the Securities Exchange Act of 1934 (Exchange 
Act) provides that the issuer or any affiliated purchaser of the issuer 
will not incur liability under Section 9(a)(2) of the Exchange Act or 
Rule 10b-5 under the Exchange Act if its purchases are effected in 
compliance with the manner, timing, price, and volume limitations of 
the safe harbor. The Rule further provides that purchases falling 
outside of the Rule's conditions shall not give rise to a presumption 
of manipulation. An issuer or an affiliated purchaser seeking to avail 
itself of the safe harbor, however, must collect information regarding 
the manner, time, price, and volume of its purchases of the issuer's 
common stock in order to verify compliance with the Rule's conditions 
and application of the safe harbor.
    Each year there are approximately 1,179 share repurchase programs 
conducted in accordance with Rule 10b-18. For each such repurchase 
program, an average of approximately 8 hours are spent collecting the 
requisite information. If approximately 1,179 issuers engage in 
repurchases following a market-wide trading suspension and comply with 
the safe harbor then, collectively, these issuers would incur an 
additional 1,179 burden hours. Thus, the total compliance burden per 
year is approximately 10,611 burden hours.
    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 estimate 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.
    Please direct your written comments to Michael E. Bartell, 
Associate Executive Director, Office of Information Technology, 
Securities and Exchange Commission, 450 Fifth Street, NW., Washington, 
DC 20549.

    Dated: August 23, 2001.
Jonathan G. Katz,
Secretary.
[FR Doc. 01-22175 Filed 9-4-01; 8:45 am]
BILLING CODE 8010-01-M