[Federal Register Volume 67, Number 30 (Wednesday, February 13, 2002)]
[Notices]
[Page 6768]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-3490]


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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 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'') is soliciting comments on the 
collections of information summarized below. The Commission plans to 
submit these existing collections of information to the Office of 
Management and Budget for extension and approval.

Rule 101 (Activities by Distribution Participants) and Rule 102 
(Activities by Issuers and Selling Security Holders During a 
Distribution)

    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 policies regarding information 
barriers between their affiliates, and the maintenance of a written 
policy regarding general compliance with Regulation M for de minimus 
transactions. The Commission estimates that 1,358 respondents 
collect information under Rule 101 and that approximately 31,079 
hours in the aggregate are required annually for these collections. 
In addition, the Commission estimates that 669 respondents collect 
information under Rule 102 and that approximately 1,569 hours in the 
aggregate are required annually for these collections.

Rule 103 (Nasdaq Passive Market Making)

    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 171 respondents collect information under Rule 103 
and that approximately 171 hours in the aggregate are required 
annually for these collections.

Rule 104 (Stabilizing and Other Activities in Connection With an 
Offering)

    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 and disclose such information to the SRO. The 
Commission estimates that 519 respondents collect information under 
Rule 104 and that approximately 51.9 hours in the aggregate are 
required annually for these collections.

Rule 17a-2 (Recordkeeping Requirements Relating to Stabilizing 
Activities)

    Rule 17a-2 requires underwriters to maintain information 
regarding stabilizing activities, syndicate covering transactions, 
and penalty bids. The Commission estimates that 519 respondents 
collect information under Rule 17a-2 and that approximately 2,595 
hours in the aggregate are required annually for these collections.
    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 will 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden 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 Michael E. Bartell, 
Associate Executive Director, Office of Information Technology, 
Securities and Exchange Commission, 450 5th Street, NW., Washington, 
DC 20549.

    Dated: February 6, 2002.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-3490 Filed 2-12-02; 8:45 am]
BILLING CODE 8010-01-P