[Federal Register Volume 67, Number 77 (Monday, April 22, 2002)]
[Notices]
[Pages 19602-19603]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-9777]


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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.) (PRA) 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:

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 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. 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 conducted in accordance with Rule 104. The 
Commission estimates that 519

[[Page 19603]]

respondents collect information under Rule 17a-2 and that approximately 
2,595 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 17a2(c), none of the information required to be 
collected or disclosed for PRA purposes will be kept confidential.
    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).
    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.
    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, DC 20503; and (ii) Michael E. Bartell, Associate 
Executive Director, Office of Information Technology, Securities and 
Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549. 
Comments must be submitted to OMB within 30 days of this notice.

    Dated: April 12, 2002.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-9777 Filed 4-19-02; 8:45 am]
BILLING CODE 8010-01-P