25818 Federal Register / Vol. 73, No. 89 / Wednesday, May 7, 2008 / Notices 

15 15 U.S.C. 78f(b)(5). 

16 15 U.S.C. 78s(b)(3)(A). 

17 17 CFR 240.19b–4(f)(6). 

18 17 CFR 240.19b–4(f)(6)(iii). 

19For purposes only of waiving the 30-day 

operative delay of this proposal, the Commission 

has considered the proposed rule’s impact on 

efficiency, competition, and capital formation. 15 

U.S.C. 78c(f). 

20 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3Units are securities that represent an interest in 

a registered investment company that could be 

organized as a unit investment trust, an open-end 

management investment company, or a similar 

entity, that holds securities comprising, or 

otherwise based on or representing an interest in, 

an index or portfolio of securities or securities in 

another registered investment company that holds 

securities. See NYSE Arca Equities 5.2(j)(3). 

4See Securities Exchange Act Release No. 57561 

(March 26, 2008), 73 FR 17390. 

make the amendment to Exchange Rule 

36 permanent or to June 30, 2008. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with, and 

furthers the objectives of, Section 6(b)(5) 

of the Act,15 in that it is designed to 

prevent fraudulent and manipulative 

practices, to promote just and equitable 

principles of trade, to remove 

impediments to, and perfect the 

mechanisms of, a free and open market 

and a national market system, and, in 

general, to protect investors and the 

public interest. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: (i) Significantly affect 

the protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate if 

consistent with the protection of 

investors and the public interest, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 16 and Rule 19b–

4(f)(6) thereunder.17 At any time within 

60 days of the filing of the proposed rule 

change, the Commission may summarily 

abrogate such rule change if it appears 

to the Commission that such action is 

necessary or appropriate in the public 

interest, for the protection of investors, 

or otherwise in furtherance of the 

purposes of the Act. 

The Exchange requests that the 

Commission waive the five-day prefiling period and 30-day operative 

period under Rule 19b–4(f)(6)(iii).18 The 

Commission has waived the five-day 

pre-filing requirement for this proposed 

rule change. Additionally, the Exchange 

believes that the continuation of the 

Pilot is in the public interest as it will 

avoid inconvenience and interruption to 

the public. The Commission believes 

that it is consistent with the protection 

of investors and the public interest to 

waive the 30-day operative delay and 

make this proposed rule change 

immediately effective upon filing.19 The 

Commission believes that the waiver of 

the 30-day operative delay will allow 

the Exchange to continue, without 

interruption, the existing operation of 

its Pilot until the earlier of the approval 

of SR–NYSE–2008–20 or June 30, 2008. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic comments: 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–NYSE–2008–34 on the 

subject line. 

Paper comments: 

• Send paper comments in triplicate 

to Nancy M. Morris, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–NYSE–2008–34. This file 

number should be included on the 

subject line if e-mail is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for inspection and copying in 

the Commission’s Public Reference 

Room, 100 F Street, NE., Washington, 

DC 20549, on official business days 

between the hours of 10 a.m. and 3 p.m. 

Copies of such filing also will be 

available for inspection and copying at 

the principal office of the Exchange. All 

comments received will be posted 

without change; the Commission does 

not edit personal identifying 

information from submissions. You 

should submit only information that 

you wish to make available publicly. All 

submissions should refer to File 

Number SR–NYSE–2008–34 and should 

be submitted on or before May 28, 2008. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.20

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E8–9995 Filed 5–6–08; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–57751; File No. SR–

NYSEArca–2008–29] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Order Granting Approval of 

a Proposed Rule Change, as Modified 

by Amendment No. 1 Thereto, To 

Amend the Eligibility Criteria for 

Components of an Index Underlying 

Investment Company Units 

May 1, 2008. 

I. Introduction 

On March 13, 2008, NYSE Arca, Inc. 

(‘‘NYSE Arca’’ or ‘‘Exchange’’), through 

its wholly owned subsidiary, NYSE 

Arca Equities, Inc. (‘‘NYSE Arca 

Equities’’), filed with the Securities and 

Exchange Commission (‘‘Commission’’), 

pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a 

proposal to amend Commentary .01 to 

NYSE Arca Equities Rule 5.2(j)(3) to 

modify the eligibility criteria for 

components of an index underlying 

Investment Company Units (‘‘Units’’).3

On March 24, 2008, the Exchange filed 

Amendment No. 1 to the proposed rule 

change. The proposed rule change was 

published for comment in the Federal 

Register on April 1, 2008.4 The 


sroberts on PROD1PC70 with NOTICES
Federal Register / Vol. 73, No. 89 / Wednesday, May 7, 2008 / Notices 25819 

5Rule 19b–4(e) under the Act provides that the 

listing and trading of a new derivative securities 

product by a self-regulatory organization (‘‘SRO’’) 

shall not be deemed a proposed rule change, 

pursuant to Rule 19b–4(c)(1) under the Act (17 CFR 

240.19b–4(c)(1)), if the Commission has approved, 

pursuant to Section 19(b) of the Act, the SRO’s 

trading rules, procedures, and listing standards for 

the product class that would include the new 

derivatives securities product, and the SRO has a 

surveillance program for the product class. See 17 

CFR 240.19b–4(e). 

6The following securities are included in Section 

2 of NYSE Arca Equities Rule 8: Portfolio 

Depositary Receipts (Rule 8.100); Trust Issued 

Receipts (Rule 8.200); Commodity-Based Trust 

Shares (Rule 8.201); Currency Trust Shares (Rule 

8.202); Commodity Index Trust Shares (Rule 8.203); 

Partnership Units (Rule 8.300); Paired Trust Shares 

(Rule 8.400); and Managed Fund Shares (Rule 

8.600). See Securities Exchange Act Release No. 

57619 (April 4, 2008), 73 FR 19544 (April 10, 2008) 

(SR–NYSEArca–2008–25) (approving, among other 

things, the adoption of listing standards for 

Managed Fund Shares). 

7 ‘‘U.S. Component Stock’’ means an equity 

security that is registered under Section 12(b) or 

Section 12(g) of the Act or an American Depositary 

Receipt, the underlying equity security of which is 

registered under Section 12(b) or Section 12(g) of 

the Act. See NYSE Arca Equities Rule 5.2(j)(3). 

8See 17 CFR 242.600(b)(47). 

Commission received no comments on 

the proposal. This order approves the 

proposed rule change, as modified by 

Amendment No. 1 thereto. 

II. Description of the Proposal 

Commentary .01 to NYSE Arca 

Equities Rule 5.2(j)(3) provides that 

NYSE Arca Equities may approve a 

series of Units for listing and trading 

(including trading pursuant to unlisted 

trading privileges) pursuant to Rule 

19b–4(e) under the Act,5 if such series 

satisfies the criteria set forth in 

Commentary .01 to NYSE Arca Equities 

Rule 5.2(j)(3). The Exchange proposes to 

exclude Units and certain other 

securities defined in Section 2 of NYSE 

Arca Equities Rule 8 (collectively, 

‘‘Derivative Securities Products’’) 6

when applying the quantitative listing 

requirements of Commentaries .01(a)(A) 

and (B) to NYSE Arca Equities Rule 

5.2(j)(3) relating to the listing of Units 

based on a U.S. index or portfolio or an 

international or global index or 

portfolio, respectively. 

With respect to Commentary .01(a)(A) 

to NYSE Arca Equities Rule 5.2(j)(3), the 

Exchange proposes to exclude 

Derivative Securities Products, as 

components, when applying the 

following existing component eligibility 

requirements: (1) Component stocks 

that, in the aggregate, account for at 

least 90% of the weight of the index or 

portfolio each must have a minimum 

market value of at least $75 million 

(Commentary .01(a)(A)(1)); (2) 

component stocks that, in the aggregate, 

account for at least 90% of the weight 

of the index or portfolio each must have 

a minimum monthly trading volume 

during each of the last six months of at 

least 250,000 shares (Commentary 

.01(a)(A)(2)); and (3) the most heavily 

weighted component stock must not 

exceed 30% of the weight of the index 

or portfolio, and the five most heavily 

weighted component stocks must not 

exceed 65% of the weight of the index 

or portfolio (Commentary .01(a)(A)(3)). 

Component stocks, in the aggregate, 

excluding Derivative Securities 

Products, would still be required to 

meet the criteria of these provisions. 

Thus, for example, when determining 

compliance with Commentaries 

.01(a)(A)(1) and (2) to NYSE Arca 

Equities Rule 5.2(j)(3), component 

stocks that, in the aggregate, account for 

at least 90% of the remaining index 

weight, after excluding any Derivative 

Securities Products, would be required 

to have a minimum market value of at 

least $75 million and minimum 

monthly trading volume of 250,000 

shares during each of the last six 

months, respectively. In addition, with 

respect to Commentary .01(a)(A)(3) to 

NYSE Arca Equities Rule 5.2(j)(3), when 

determining the component weight for 

the most heavily weighted stock and the 

five most heavily weighted component 

stocks for an underlying index that 

includes a Derivative Securities 

Product, the weight of such Derivative 

Securities Product included in the 

underlying index or portfolio would not 

be considered. 

In addition, the Exchange proposes to 

modify the requirement in Commentary 

.01(a)(A)(4) to NYSE Arca Equities Rule 

5.2(j)(3), which requires that the 

underlying index or portfolio include a 

minimum of 13 component stocks. 

Specifically, the Exchange proposes that 

there shall be no minimum number of 

component stocks if: (1) One or more 

series of Units or Portfolio Depositary 

Receipts (as defined in NYSE Arca 

Equities Rule 8.100) constitute, at least 

in part, components underlying a series 

of Units; or (2) one or more series of 

Derivative Securities Products account 

for 100% of the weight of the index or 

portfolio. Thus, for example, if the 

index or portfolio underlying a series of 

Units includes one or more series of 

Units or Portfolio Depositary Receipts, 

or if it consists entirely of other 

Derivative Securities Products, then 

there would not be required to be any 

minimum number of component stocks 

(i.e., one or more components 

comprising the underlying index or 

portfolio would be acceptable). 

However, if the index or portfolio 

consists of Derivative Securities 

Products, other than Units or Portfolio 

Depositary Receipts, and other 

securities that are not Derivative 

Securities Products (e.g., common 

stocks), then there would have to be at 

least 13 components in the underlying 

index or portfolio. 

Consistent with current Commentary 

.01(a)(A)(5) to NYSE Arca Equities Rule 

5.2(j)(3), all securities in the index or 

portfolio (including Derivative 

Securities Products) must nevertheless 

be U.S. Component Stocks 7 that are 

listed on a national securities exchange 

and NMS Stocks, as defined in Rule 600 

under the Act.8

With respect to Commentary .01(a)(B) 

to NYSE Arca Equities Rule 5.2(j)(3), the 

Exchange proposes to exclude 

Derivative Securities Products, as 

components, when applying the 

following existing component eligibility 

requirements: (1) Component stocks 

that, in the aggregate, account for at 

least 90% of the weight of the index or 

portfolio each must have a minimum 

market value of at least $100 million 

(Commentary .01(a)(B)(1)); (2) 

component stocks that, in the aggregate, 

account for at least 90% of the weight 

of the index or portfolio each must have 

a minimum worldwide monthly trading 

volume during each of the last six 

months of at least 250,000 shares 

(Commentary .01(a)(B)(2)); and (3) the 

most heavily weighted component stock 

must not exceed 25% of the weight of 

the index or portfolio, and the five most 

heavily weighted component stocks 

must not exceed 60% of the weight of 

the index or portfolio (Commentary 

.01(a)(B)(3)). Thus, for example, when 

determining compliance with 

Commentaries .01(a)(B)(1) and (2) to 

NYSE Arca Equities Rule 5.2(j)(3), 

component stocks that, in the aggregate, 

account for at least 90% of the 

remaining index weight, after excluding 

any Derivative Securities Products, 

would be required to have a minimum 

market value of at least $100 million 

and minimum worldwide monthly 

trading volume of 250,000 shares during 

each of the last six months, respectively. 

In addition, with respect to Commentary 

.01(a)(B)(3) to NYSE Arca Equities Rule 

5.2(j)(3), when determining the 

component weight for the most heavily 

weighted stock and the five most 

heavily weighted component stocks for 

an underlying index that includes a 

Derivative Securities Product, the 

weight of such Derivative Securities 

Product included in the underlying 

index or portfolio would not be 

considered. 

In addition, the Exchange proposes to 

modify the requirement in Commentary 

.01(a)(B)(4) to NYSE Arca Equities 


sroberts on PROD1PC70 with NOTICES
25820 Federal Register / Vol. 73, No. 89 / Wednesday, May 7, 2008 / Notices 

9See Id. 

10 ‘‘Non U.S. Component Stock’’ means an equity 

security that is not registered under Section 12(b) 

or Section 12(g) of the Act and that is issued by an 

entity that (a) is not organized, domiciled, or 

incorporated in the United States, and (b) is an 

operating company (including real estate 

investment trusts and income trusts, but excluding 

investment trusts, unit trusts, mutual funds, and 

derivatives). See NYSE Arca Equities Rule 5.2(j)(3). 

11 In approving this proposed rule change, the 

Commission notes that it has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. See 15 U.S.C. 78c(f). 

12 15 U.S.C. 78f(b)(5). 

13Under Commentary .01(a) to NYSE Arca 

Equities Rule 5.2(j)(3), a series of a Derivative 

Securities Product may be included as a U.S. 

Component Stock or Non-U.S. Component Stock 

underlying a series of Units, so long as the shares 

of such series meet the definitions of U.S. 

Component Stock and Non-U.S. Component Stock, 

as applicable. See supra notes 7 and 10. See also 

Commentaries .01(a)(A)(5) and 01(a)(B)(5) to NYSE 

Arca Equities Rule 5.2(j)(3) (requiring that, in any 

event, all securities in the applicable index or 

portfolio must be a U.S. Component Stock listed on 

a national securities exchange and an NMS Stock, 

as defined in Rule 600 under the Act, or, in the case 

of an international or global index or portfolio, must 

be a Non-U.S. Component Stock that is listed and 

traded on an exchange that has last-sale reporting). 

14The Commission notes that it has approved the 

adoption of certain amendments to NYSE Arca 

Equities Rule 5.2(j)(6) allowing an index or portfolio 

underlying a series of Equity Index-Linked 

Securities to consist, in whole or in part, of (1) 

securities of closed-end management investment 

companies, or (2) Units, which, in each case, are 

registered under the Investment Company Act of 

1940. See Securities Exchange Act Release No. 

56879 (December 3, 2007), 72 FR 69271 (December 

7, 2007) (SR–NYSEArca–2007–110). 

15See supra note 8. 

16 15 U.S.C. 78s(b)(2). 

17 15 U.S.C. 78s(b)(3)(A). 

18See supra note 5. 

5.2(j)(3), which requires that the 

underlying index or portfolio include a 

minimum of 20 component stocks. 

Specifically, the Exchange proposes that 

there shall be no minimum number of 

component stocks if: (1) One or more 

series of Units or Portfolio Depositary 

Receipts (as defined in NYSE Arca 

Equities Rule 8.100) constitute, at least 

in part, components underlying a series 

of Units, or (2) one or more series of 

Derivative Securities Products account 

for 100% of the weight of the index or 

portfolio. Thus, for example, if the 

index or portfolio underlying a series of 

Units includes one or more series of 

Units or Portfolio Depositary Receipts, 

or if it consists entirely of other 

Derivative Securities Products, then 

there would not be required to be any 

minimum number of component stocks 

(i.e., one or more components 

comprising the underlying index or 

portfolio would be acceptable). 

However, if the index or portfolio 

consists of Derivative Securities 

Products, other than Units or Portfolio 

Depositary Receipts, and other 

securities that are not Derivative 

Securities Products (e.g., common 

stocks), then there would have to be at 

least 20 components in the underlying 

index or portfolio. 

Consistent with current Commentary 

.01(a)(B)(5) to NYSE Arca Equities Rule 

5.2(j)(3), each component that is a U.S. 

Component Stock (including Derivative 

Securities Products) would be required 

to be listed on a national securities 

exchange and be an NMS Stock, as 

defined in Rule 600 under the Act,9 and 

each component that is a Non-U.S. 

Component Stock 10 (including 

Derivative Securities Products) would 

be required to be listed and traded on 

an exchange that has last-sale reporting. 

III. Commission’s Findings and Order 

Granting Approval of the Proposed 

Rule Change 

After careful review and based on the 

Exchange’s representations, the 

Commission finds that the proposed 

rule change is consistent with the 

requirements of the Act and the rules 

and regulations thereunder applicable to 

a national securities exchange.11 In 

particular, the Commission finds that 

the proposed rule change is consistent 

with Section 6(b)(5) of the Act 12 in that 

it is designed to promote just and 

equitable principles of trade, to foster 

cooperation and coordination with 

persons engaged in regulating, clearing, 

settling, processing information with 

respect to, and facilitating transactions 

in securities, to remove impediments to 

and perfect the mechanism of a free and 

open market and a national market 

system, and, in general, to protect 

investors and the public interest. 

Under Commentary .01 to NYSE Arca 

Equities Rule 5.2(j)(3), one or more 

series of Derivative Securities Products 

may be included as a component 

comprising the index or portfolio 

underlying a series of Units.13 The 

Commission notes that, based on the 

trading characteristics of Derivative 

Securities Products, it may be difficult 

for component Derivative Securities 

Products to satisfy certain quantitative 

index criteria, such as the minimum 

market value and trading volume 

limitations. However, because 

Derivative Securities Products are 

themselves subject to specific initial and 

continued listing requirements, the 

Commission believes that it would be 

reasonable to exclude Derivative 

Securities Products, as components, 

from certain index component eligibility 

criteria for Units. For example, the 

index component eligibility standards 

for Units and Portfolio Depositary 

Receipts require, among others, that 

there be a minimum of 13 component 

stocks in an underlying U.S. index or 

portfolio and a minimum of 20 

component stocks in an international or 

global index or portfolio. If one or more 

series of Units or Portfolio Depositary 

Receipts constitutes, at least in part, a 

component of a U.S. or international 

index or portfolio underlying a series of 

Units, the Commission believes that not 

requiring a minimum number of 

components underlying such overlying 

Unit would be reasonable because each 

component Unit or Portfolio Depositary 

Receipt already requires a minimum of 

13 or 20 component stocks, as the case 

may be. In addition, if one or more 

series of component Derivative 

Securities Products accounts for 100% 

of the weight of the index or portfolio 

underlying a series of Units, then a 

minimum number of components 

underlying such Units would not be 

required. The Commission notes that, if 

a series of Units is based on the 

performance of an underlying index or 

portfolio composed, in part, of a: (1) 

Unit or Portfolio Depositary Receipt and 

another non-Derivative Securities 

Product (e.g., common stock), or (2) 

Derivative Securities Product other than 

a Unit or Portfolio Depositary Receipt, 

then the minimum number of 

component stock requirement will 

continue to apply. 

In addition, because component 

Derivative Securities Products may 

comprise 100% of the weight of any 

index underlying a series of Units, the 

Commission believes that providing for 

an exception to the concentration limits 

contained in Commentaries .01(a)(A)(3) 

and .01(a)(B)(3) to NYSE Arca Equities 

Rule 5.2(j)(3) with respect to component 

Derivative Securities Products is 

reasonable.14 The Commission further 

notes that component Derivative 

Securities Products that are U.S. 

Component Stocks comprising, at least 

in part, an index or portfolio underlying 

a series of Units must meet the 

definition of NMS Stock 15 and already 

have been listed and trading on a 

national securities exchange pursuant to 

a proposed rule change approved by the 

Commission pursuant to Section 

19(b)(2) of the Act 16 or submitted by a 

national securities exchange pursuant to 

Section 19(b)(3)(A) of the Act,17 or 

would have been listed by a national 

securities exchange pursuant to the 

requirements of Rule 19b–4(e) under the 

Act.18 Component Derivative Securities 

Products that are Non-U.S. Component 

Stocks comprising, at least in part, an 

international or global index or portfolio 

underlying a series of Units must 


sroberts on PROD1PC70 with NOTICES
Federal Register / Vol. 73, No. 89 / Wednesday, May 7, 2008 / Notices 25821 

19 15 U.S.C. 78s(b)(2). 

20 17 CFR 200.30–3(a)(12). 

already have been listed and trading on 

an exchange that has last-sale reporting. 

The Commission believes that the 

proposed rule change will facilitate the 

listing and trading of additional types of 

exchange-traded products that will 

enhance competition among market 

participants, to the benefit of investors 

and the marketplace. In addition, the 

listing and trading criteria set forth in 

the proposal are intended to protect 

investors and the public interest. As 

such, the Commission believes it is 

reasonable and consistent with the Act 

for the Exchange to modify the index 

component eligibility criteria for Units 

in the manner described in the proposal. 

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,19 that the 

proposed rule change (SR–NYSEArca–

2008–29), as modified by Amendment 

No. 1 thereto, be, and it hereby is, 

approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.20

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E8–10025 Filed 5–6–08; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[File No. 500–1] 

In the Matter of: Health Professionals, 

Inc., Respondent; Order of Suspension 

of Trading 

May 5, 2008. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Health 

Professionals, Inc. because it has not 

filed any periodic reports since it filed 

a Form 10–Q for the period ended 

December 31, 1997. 

The Commission is of the opinion that 

the public interest and the protection of 

investors require a suspension of trading 

in the securities of the above-listed 

company. 

Therefore, it is ordered, pursuant to 

section 12(k) of the Securities Exchange 

Act of 1934, that trading in the 

securities of Health Professionals, Inc. is 

suspended for the period from 9:30 a.m. 

EDT on May 5, 2008 through 11:59 p.m. 

EDT on May 16, 2008. 

By the Commission. 

J. Lynn Taylor, 

Assistant Secretary. 

[FR Doc. 08–1235 Filed 5–5–08; 11:37am] 

BILLING CODE 8010–01–P 

DEPARTMENT OF STATE 

[Public Notice: 6216] 

30-Day Notice of Proposed Information 

Collection: Agency Form DS–4127, 

NEA/PI Online Performance Reporting 

System (PRS), OMB Control Number 

1405–XXXX 

ACTION: Notice of request for public 

comment and submission to OMB of 

proposed collection of information. 

SUMMARY: The Department of State has 

submitted the following information 

collection request to the Office of 

Management and Budget (OMB) for 

approval in accordance with the 

Paperwork Reduction Act of 1995. 

• Title of Information Collection: 

NEA/PI Online Performance Reporting 

System (PRS). 

• OMB Control Number: none. 

• Type of Request: New collection. 

• Originating Office: NEA/PI. 

• Form Number: DS–4127. 

• Respondents: Recipients of NEA/PI 

grants. 

• Estimated Number of Respondents: 

70 respondents annually. 

• Estimated Number of Responses: 

280 per year. 

• Average Hours Per Response: 20. 

• Total Estimated Burden: 5600 hours 

per year. 

• Frequency: Quarterly. 

• Obligation to Respond: Required to 

Obtain or Retain a Benefit. 

DATE(S): Submit comments to the Office 

of Management and Budget (OMB) for 

up to 30 days from May 7, 2008. 

ADDRESSES: Direct comments and 

questions to Katherine Astrich, the 

Department of State Desk Officer in the 

Office of Information and Regulatory 

Affairs at the Office of Management and 

Budget (OMB), who may be reached at 

202–395–4718. You may submit 

comments by any of the following 

methods: 

• E-mail: kastrich@omb.eop.gov. You 

must include the DS form number, 

information collection title, and OMB 

control number in the subject line of 

your message. 

• Mail (paper, disk, or CD–ROM 

submissions): Office of Information and 

Regulatory Affairs, Office of 

Management and Budget, 725 17th 

Street, NW., Washington, DC 20503. 

• Fax: 202–395–6974. 

FOR FURTHER INFORMATION CONTACT: 

Please direct requests for additional 

information regarding the collection 

listed in this notice, including requests 

for copies of the proposed information 

collection and supporting documents, to 

George Wilson, U.S. Department of 

State, Office of the Middle East 

Partnership Initiative (NEA/PI), Bureau 

of Near Eastern Affairs, NEA Mail 

Room—Room 6258, 2201 C St. NW., 

Washington DC, 20520, who may be 

reached on 202–776–8641 or at 

wilsongr@state.gov. 

SUPPLEMENTARY INFORMATION: We are 

soliciting public comments to permit 

the Department to: 

• Evaluate whether the proposed 

information collection is necessary to 

properly perform our functions. 

• Evaluate the accuracy of our 

estimate of the burden of the proposed 

collection, including the validity of the 

methodology and assumptions used. 

• Enhance the quality, utility, and 

clarity of the information to be 

collected. 

• Minimize the reporting burden on 

those who are to respond. 

Abstract of Proposed Collection 

Since 2002, MEPI has obligated more 

than $430 million to over 250 

organizations, who carry out more than 

370 projects in support of the 

empowerment of women and political, 

economic, and education reform in 20 

countries of the Middle East and North 

Africa. As a normal course of business 

and in compliance with OMB 

Guidelines contained in Circular A-110, 

recipient organizations are required to 

provide, and the U.S. State Department 

required to collect, periodic program 

and financial performance reports. The 

responsibility of the State Department to 

track and monitor the programmatic and 

financial performance necessitates a 

database that can help facilitate this in 

a consistent and standardized manner. 

The MEPI Performance Reporting 

System (PRS) enables enhanced 

monitoring and evaluation of grants 

through standardized collection and 

storage of relevant award elements, such 

as quarterly progress reports, workplans, 

results monitoring plans, grant 

agreements, financial reports, and other 

business information related to MEPI 

implementers. The PRS streamlines 

communication with implementers and 

allows for rapid identification of 

information gaps for specific projects. 

Methodology 

Information is entered into PRS 

electronically by respondents. Nonrespondents submit their quarterly 

reports on paper. 


sroberts on PROD1PC70 with NOTICES