47838 Federal Register / Vol. 62, No. 176 / Thursday, September 11, 1997 / Notices

Dated at Rockville, Maryland, this 8th day

of September 1997.

For the Nuclear Regulatory Commission.

Frederick J. Hebdon,

Director, Project Directorate II–3, Division of

Reactor Projects—I/II.

[FR Doc. 97–24219 Filed 9–10–97; 8:45 am]

BILLING CODE 7590–01–P

POSTAL RATE COMMISSION

Postal Facility Visit

AGENCY: Postal Rate Commission.

ACTION: Notice of postal facility visit.

Authority: 39 U.S.C. 404(b), 3603, 3622–

3624, 3661, 3662.

SUMMARY: Arrangements have been

made for members of the Commission

and certain staff members to visit the

United States Postal Service’s

Brentwood mail processing and

distribution center in northeast

Washington, DC. The purpose is to

increase familiarity with Postal Service

mail operations. Information obtained

during the visit will assist

Commissioners and staff in the

execution of their duties.

DATES: The tour is scheduled for

Thursday, September 11, 1997, at 6 p.m.

FOR FURTHER INFORMATION CONTACT:

Stephen L. Sharfman, General Counsel,

(202)–789–6820.

SUPPLEMENTARY INFORMATION: A report

of the visit will be filed in the

Commission’s docket room.

Dated: September 8, 1997.

Margaret P. Crenshaw,

Secretary.

[FR Doc. 97–24125 Filed 9–10–97; 8:45 am]

BILLING CODE 7715–01–M

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–10, SEC File No. 270–389,

OMB Control No. 3235–0444

Rule 11Ac1–3, SEC File No. 270–382,

OMB Control No. 3235–0435

Rule 15c2–12, SEC File No. 270–330,

OMB Control No. 3235–0472

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 10b–10, Confirmation of

Transactions, applies to all securities

transactions, other than transactions in

municipal securities or U.S. savings

bonds, it would potentially apply to all

of the approximately 5,400 firms

registered with the Securities and

Exchange Commission that effect

transactions on behalf of customers.

Rule 10b–10 requires broker-dealers

convey to customers basic trade

information regarding their securities

transactions. This information includes

the date and time of the transaction; the

identity and number of shares bought or

sold; and the trading capacity of the

broker-dealer. Depending on the trading

capacity of the broker-dealer, the rule

requires the disclosure of commissions

and, under specified circumstances,

mark-up and mark-down information.

For transactions in debt securities, the

rule requires the disclosure of

redemption and yield information.

The confirmation process is

automated, and it takes about one

minute to generate and send a

confirmation. The cost per confirmation

generally stays the same. Per year, it is

estimated that broker-dealers spend 10.8

million hours complying with Rule

10b–10.

It is important to note, however, that

the confirmation is a customary

document used by the industry. The

staff estimates the costs of producing

and sending a confirmation to be

approximately 89 cents, although the

amount of confirmations sent and the

cost of sending each confirmation will

vary from firm to firm. Smaller firms

will send fewer confirmations because

they will have fewer transactions. As a

result, the total cost to the industry is

approximately $578 million per year

(650 million confirmations at 89 cents

per confirmation).

Rule 11Ac1–3, Customer Account

Statements, requires disclosure on each

new account and on a yearly basis

thereafter, on the annual statement, the

firm’s policies regarding receipt of

payment for order flow from any market

makers, exchanges or exchange

members to which it routes customers’

order in the national market system

securities for execution; and

information regarding the aggregate

amount of monetary payments,

discounts, rebates or reduction in fees

received by the firm over the past year.

It is estimated that there are 5,308

registered broker-dealers with customer

accounts. The staff estimates that the

average number of hours necessary for

each broker-dealer to comply with the

Rule 11Ac1–3 is fourteen hours

annually. Thus, the total burden is

74,312 hours annually. The average cost

per hour is approximately $40.

Therefore, the total cost of compliance

for broker-dealers is $297,248.

Rule 15c2–12, Municipal Securities

Disclosure, requires underwriters of

municipal securities: (1) to obtain and

review a copy of an official statement

deemed final by an issuer of the

securities, except for the omission of

specified information; (2) in noncompetitively bid offerings, to make

available, upon request, the most recent

preliminary official statement, if any; (3)

to contract with the issuer of the

securities, or its agent, to receive, within

specified time periods, sufficient copies

of the issuer’s final official statement to

comply both with this rule and any

rules of the Municipal Securities

Rulemaking Board; (4) to provide, for a

specified period of time, copies of the

final official statement to any potential

customer upon request; (5) before

purchasing or selling municipal

securities in connection with an

offering, to reasonably determine that

the issuer or other specified person has

undertaken, in a written agreement or

contract, for the benefit of holders of

such municipal securities, to provide

certain information about the issue or

issuer on a continuing basis to a

nationally recognized municipal

securities information repository; and

(6) to review the information the issuer

of the municipal security has

undertaken to provide prior to

recommending a transaction in the

municipal security.

These disclosure and recordkeeping

requirements will ensure that investors

have adequate access to official

disclosure documents that contain

details about the value and risks of

particular municipal securities at the

time of issuance while the existence of

compulsory repositories will ensure that

investors have continued access to

terms and provisions relating to certain

static features of those municipal

securities. The provisions of Rule 15c2–

12 regarding an issuer’s continuing

disclosure requirements assist investors

by ensuring that information about an

issue or issuer remains available after

the issuance.

Municipal offerings of less than $1

million are exempt from the rule, as are

offerings of municipal securities issued

in large denominations that are sold to

no more than 35 sophisticated investors,
Federal Register / Vol. 62, No. 176 / Thursday, September 11, 1997 / Notices 47839

have short-term maturities, or have

short-term tender or put features. It is

estimated that approximately 12,000

brokers, dealers, municipal securities

dealers, issuers of municipal securities,

and nationally recognized municipal

securities information repositories will

spend a total of 123,850 hours per year

complying with Rule 15c2–12. Based on

average cost per hour of $50, the total

cost of compliance with Rule 15c2–12 is

$6,192,500.

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

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 collected 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,

N.W., Washington, DC 20549.

Dated: September 2, 1997.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–24040 Filed 9–10–97; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

Submission for OMB Review;

Comment Request

Upon written request, copies available

are from: Securities and Exchange

Commission, Office of Filings and,

Information Services, Washington, D.C.

20549.

Revision

(Form 13F—SEC File No. 270–22—OMB

Control No. 3235–0006

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 (the

‘‘Commission’’) has submitted for OMB

approval a revision to Form 13F [17 CFR

249.325] under the Securities Exchange

Act of 1934.

Form 13F is used by certain large

investment managers to report quarterly

with respect to certain securities over

which they exercise investment

discretion. Each report takes about 24.7

hours to fill out.

It is estimated that approximately 1,

804 institutional investment managers

are subject to the rule. Each reporting

managers files Form 13F quarterly. It is

also estimated that, each quarter,

following the expiration of grants of

confidential treatment, 50 managers will

re-submit electronically information

previously submitted in paper. It is

estimated that compliance with the

form’s requirements imposes a total

annual average burden per manager of

approximately 98.8 hours for submitting

the report, and an additional annual

burden of 4 hours (one additional

burden hour per manager per quarter)

for the 50 managers re-submitting

information previously filed. The total

annual burden for all managers is

estimated at 178,435.2 hours. The

estimate of average burden hours is

made solely for the purposes of the

Paperwork Reduction Act and is based

on the Commission’s experience with

similar filings and discussions with a

few registrants.

Direct general comments to the OMB

Desk Officer for the Commission at the

address below. Any comments

concerning the accuracy of the

estimated average burden hours for

compliance with Commission rules and

forms should be directed to Michael E.

Bartell, Associate Executive Director,

Office of Information Technology,

Securities and Exchange Commission,

450 Fifth Street, N.W., Washington, D.C.

20549, and the Desk Officer, Office of

Information and Regulatory Affairs,

Office of Management and Budget,

Room 3208, New Executive Office

Building, Washington, D.C. 20503.

Dated: September 4, 1997.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–24138 Filed 9–10–97; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Rel. No. IC–22812; No. 811–7979]

Variable Account Six

September 5, 1997.

AGENCY: Securities and Exchange

Commission (‘‘SEC’’ or ‘‘Commission’’).

ACTION: Notice of application for an

Order under the Investment Company

Act of 1940 (‘‘1940 Act’’).

APPLICANT: Variable Annuity Account

Six.

RELEVANT 1940 ACT SECTION: Order

requested under Section 8(f) of the 1940

Act.

SUMMARY OF APPLICATION: Applicant

seeks an order declaring that it has

ceased to be an investment company as

defined by the 1940 Act.

FILING DATE: The application was filed

on June 5, 1997 and amended on July

16, 1997.

HEARING OR NOTIFICATION OF HEARING: An

order granting the application will be

issued unless the Commission orders a

hearing. Interested persons may request

a hearing by writing to the Secretary of

the SEC and serving the Applicant with

a copy of the request, in person or by

mail. Hearing requests must be received

by the SEC by 5:30 p.m., on September

30, 1997, and should be accompanied

by proof of service on the Applicant in

the form of an affidavit or, for lawyers,

a certificate of service. Hearing requests

should state the nature of the writer’s

interest, the reason for the request, and

the issues contested. Any person may

request notification of a hearing by

writing to the Secretary of the SEC.

ADDRESSES: Secretary, Securities and

Exchange Commission, 450 5th Street,

N.W., Washington, D.C. 20549.

Applicant, C/O Anchor National Life

Insurance Company, 1 SunAmerica

Center, Los Angeles, California 90067–

6022.

FOR FURTHER INFORMATION CONTACT:

Joyce Merrick Pickholz, Senior Counsel,

or Kevin M. Kirchoff, Branch Chief,

Office of Insurance Products (Division

of Investment Management), at (202)

942–0670.

SUPPLEMENTARY INFORMATION: Following

is a summary of the application. The

complete application is available for a

fee from the Public Reference Branch of

the Commission.

Applicant’s Representations

1. On December 20, 1996, the

Applicant, a separate account of Anchor

National Life Insurance Company

(‘‘Anchor National’’), filed a notification

of registration as a unit investment trust

on Form N–8A and a registration

statement on Form N–4 (File No. 333–

18361) to register under the Securities

Act of 1933 interests in the Polaris II

Variable Annuity Contracts (‘‘Polaris

Contracts’’) to be issued by Anchor

National through the Applicant.

Applicant’s registration statement never

became effective and Applicant will

request that it be withdrawn.

2. On March 20, 1997, the Board of

Directors of Anchor National authorized