[Federal Register Volume 76, Number 28 (Thursday, February 10, 2011)]
[Notices]
[Page 7595]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-2931]
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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 Investor Education and Advocacy,
Washington, DC 20549-0213.
Extension:
Rule 101; SEC File No. 270-408; OMB Control No. 3235-0464.
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 101 of Regulation M (17 CFR 242.101)--Activities by
Distribution Participants, prohibits distribution participants 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.
There are approximately 1588 respondents per year that require an
aggregate total of 31,309 hours to comply with this rule. Each
respondent makes an estimated 1 annual response. Each response takes
approximately 20 hours to complete. Thus, the total compliance burden
per year is 31,309 burden hours. The total compliance internal labor
cost for the respondents is approximately $1,783,673.73, resulting in a
cost of compliance for the respondent per response of approximately
$1123.22 (i.e., $1,783,673.73/1588 responses).
Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the Commission, including whether the information
shall have practical utility; (b) the accuracy of the Commission'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 comments and suggestions submitted in
writing within 60 days of this publication.
Comments should be directed to: Thomas Bayer, Chief Information
Officer, Securities and Exchange Commission, C/O Remi Pavlik-Simon,
6432 General Green Way, Alexandria, Virginia 22312 or send an e-mail
to: [email protected].
Dated: February 3, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-2931 Filed 2-9-11; 8:45 am]
BILLING CODE 8011-01-P