Federal Register / Vol. 62, No. 218 / Wednesday, November 12, 1997 / Notices 60743

17 15 U.S.C. 78f.

18 15 U.S.C. 78s(b)(2).

19 17 CFR 200.30–3(a)(12).

allowing for legitimate telemarketing

activities.

The Commission believes that the

amendments to Rule 9.20, prohibiting a

member of person associated with a

member from making outbound

telephone calls to the residence of any

person for the purpose of soliciting the

purchase of securities or related services

at any time other than between 8 a.m

and 9 p.m. local time at the called

person’s location, without prior consent

of the person, is appropriate. The

Commission notes that, by restricting

the times during which a member of a

person associated with a member may

call a residence, the proposal furthers

the interest of the public and provides

for the protection of investors by

preventing members and member

organizations from engaging in

unacceptable practices, such as

persistently calling members of the

public at unreasonable hours of the day

and night.

The Commission also believes that the

amendments to Rule 9.20, requiring a

member of person associated with a

member to promptly disclose to the

called person in a clear and

conspicuous manner the caller’s

identify and firm, telephone number or

address at which the caller may be

contacted, and that the purpose of the

call is to solicit the purchase of

securities or related services, are

appropriate. By requiring the caller to

identify himself or herself and the

purpose of the call, the Rule assists in

the prevention of fraudulent and

manipulative acts and practices by

providing investors with information

necessary to make an informed decision

about purchasing securities. Moreover,

by requiring the associated person to

identify the firm for which the caller is

being contacted, the Rule encourages

responsible use of the telephone to

market securities.

The Commission also believes that

Rule 9.20, creating exemptions from the

time-of-day and disclosure requirements

for telephone calls by associated

persons, or other associated persons

acting at the direction of such persons,

to certain categories of ‘‘existing

customers’’ is appropriate. The

Commission believes it is appropriate to

create an exemption for calls to

customers with whom there are existing

relationships in order to accommodate

personal and timely contact with a

broker who can be presumed to know

when it is convenient for a customer to

respond to telephone calls. Moreover,

such an exemption also may be

necessary to accommodate trading with

customer in multiple time zones across

the United States. The Commission,

however, believes that the exemption

from the time-of-day and disclosure

requirements should be limited to calls

to persons with whom the broker has a

least a minimally active relationship. In

this regard, the Commission believes

that Rule 9.20 achieves an appropriate

balance between providing protection

for the public and the members’ interest

in competing for customers.

The Commission also believes that the

amendment to Rule 9.20, requiring that

a member or a person associated with a

member obtain from a customer, and

maintain for three years, express written

authorization when submitting for

payment a check, draft, or other form of

negotiable paper drawn on a customer’s

checking, savings, share or similar

account, is appropriate. The

Commission notes that requiring a

member or person associated with a

member to obtain express written

authorization from a customer in the

above-mentioned circumstances assists

in the prevention of fraudulent and

manipulative acts in that it reduces the

opportunity for a member or person

associated with a member to

misappropriate customers’ funds.

Moreover, the Commission believes that

by requiring a member or person

associated with a member to retain the

authorization for three years, Rule 9.20

protects investors and the public

interest in that it provides interested

parties with the ability to acquire

information necessary to ensure that

valid authorization was obtained for the

transfer of a customer’s funds for the

purchase of a security.

The Commission also believes that the

amendment to Rule 9.23 requiring the

retention of telemarketing scripts for

three years is appropriate. By requiring

the retention of telemarketing scripts for

three years, Rule 9.23 assists in the

prevention of fraudulent and

manipulative acts and practices and

provides for the protection of the public

in that interested parties will have the

ability to acquire copies of the scripts

used to solicit the purchase of securities

to ensure that members and associated

persons are not engaged in unacceptable

telemarketing practices.

Finally, the Commission believes that

the proposed rule achieves a reasonable

balance between the Commission’s

interest in preventing members from

engaging in deceptive and abusive

telemarketing acts and the members’

interest in conducting legitimate

telemarketing practices.

The Commission finds good cause for

approving the proposed rule change,

including Amendment Nos. 1 and 2,

prior to the thirtieth day after the date

of publication of notice thereof in the

Federal Register. The proposal is

identical to the NASD and MSRB rules,

which were published for comment and,

subsequently, approved by the

Commission. The approval of the PCX’s

rules provides a consistent standard

across the industry. In that regard, the

Commission believes that granting

accelerated approval to the proposed

rule change is appropriate and

consistent with Section 6 of the Act.17

It is therefore ordered, pursuant to

Section 19(b)(2) of the Act,18 that the

proposed rule change (SR–PCX–97–36),

including Amendment Nos. 1 and 2, is

approved on an accelerated basis.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.19

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–29748 Filed 11–10–97; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

Data Collection Available for Public

Comments and Recommendations

ACTION: Notice and request for

comments.

SUMMARY: In accordance with the

Paperwork Reduction Act of 1995, this

notice announces the Small Business

Administration’s intentions to request

approval on a new, and/or currently

approved information collection.

DATES: Comments should be submitted

on or before January 12, 1998.

FOR FURTHER INFORMATION CONTACT:

Curtis B. Rich, Management Analyst,

Small Business Administration, 409 3rd

Street, S.W., Suite 5000, Washington,

D.C. 20416. Phone Number: 202–205–

6629.

SUPPLEMENTARY INFORMATION:

Title: ‘‘Small Disadvantaged Business

Certification Application’’.

Type of Request: New Collection.

Form No: N/A.

Description of Respondents: Small

Businesses seeking certification as a

Small Disadvantaged Business.

Annual Responses: 100,000.

Annual Burden: 5,000.

Comments: Send all comments

regarding this information collection to

Patricia A. Lefevre, Office of Minority

Enterprise Development, Small Business

Administration, 409 3rd Street, S.W.,

Suite 8000, Washington, D.C. 20416.

Phone No: 202–205–6416. Send
60744 Federal Register / Vol. 62, No. 218 / Wednesday, November 12, 1997 / Notices

comments regarding whether this

information collection is necessary for

the proper performance of the function

of the agency, accuracy of burden

estimate, in addition to ways to

minimize this estimate, and ways to

enhance the quality.

Dated: October 31, 1997.

Jacqueline White,

Chief, Administrative Information Branch.

[FR Doc. 97–29755 Filed 11–10–97; 8:45 am]

BILLING CODE 8025–01–P

SMALL BUSINESS ADMINISTRATION

Reporting and Recordkeeping

Requirements Under OMB Review

ACTION: Notice of reporting requirements

submitted for review.

SUMMARY: Under the provisions of the

Paperwork Reduction Act (44 U.S.C.

Chapter 35), agencies are required to

submit proposed reporting and

recordkeeping requirements to OMB for

review and approval, and to publish a

notice in the Federal Register notifying

the public that the agency has made

such a submission.

DATES: Comments should be submitted

on or before December 12, 1997. If you

intend to comment but cannot prepare

comments promptly, please advise the

OMB Reviewer and the Agency

Clearance Officer before the deadline.

COPIES: Request for clearance (OMB 83–

1), supporting statement, and other

documents submitted to OMB for

review may be obtained from the

Agency Clearance Officer. Submit

comments to the Agency Clearance

Officer and the OMB Reviewer.

FOR FURTHER INFORMATION CONTACT:

Agency Clearance Officer: Jacqueline

White, Small Business Administration,

409 3rd Street, S.W., 5th Floor,

Washington, D.C. 20416; Telephone:

(202) 205–6629.

OMB Reviewer: Victoria Wassmer,

Office of Information and Regulatory,

Affairs Office of Management and

Budget, New Executive Office Building,

Washington, D.C. 20503.

Title: ‘‘Mentor Information Forms’’.

Form No’s: SBA Forms 2031, 2031A,

B, C, D, E, F, G, H.

Frequency: On Occasion.

Description of Respondents:

Entrepreneurial Women and Women

Business Owners.

Annual Responses: 10,000.

Annual Burden: 2,000.

Dated: October 27, 1997.

Jacqueline White,

Chief, Administrative Information Branch.

[FR Doc. 97–29756 Filed 11–10–97; 8:45 am]

BILLING CODE 8025–01–P

SMALL BUSINESS ADMINISTRATION

[Declaration of Disaster #2984]

Commonwealth of the Northern

Mariana Islands

The Islands of Saipan and Tinian in

the Commonwealth of the Northern

Mariana Islands constitute a disaster

area as a result of damages caused by

Super Typhoon Joan which occurred

October 18, 1997. Applications for loans

for physical damages as a result of this

disaster may be filed until the close of

business on December 29, 1997 and for

economic injury until the close of

business on July 29, 1998 at the address

listed below or other locally announced

locations: U.S. Small Business

Administration, Disaster Area 4 Office,

P.O. Box 13795, Sacramento, CA 95853–

4795.

The interest rates are:

Percent

For Physical Damage

Homeowners With Credit

Available Elsewhere ....... 7.625

Homeowners Without

Credit Available Elsewhere ............................. 3.812

Businesses With Credit

Available Elsewhere ....... 8.000

Businesses and Non-Profit

Organizations Without

Credit Available Elsewhere ............................. 4.000

Others (Including Non-Profit Organizations) With

Credit Available Elsewhere ............................. 7.125

For Economic Injury

Businesses and Small Agricultural Cooperatives

Without Credit Available

Elsewhere ...................... 4.000

The number assigned to this disaster

for physical damage is 298406 and for

economic injury the number is 963300.

(Catalog of Federal Domestic Assistance

Program Nos. 59002 and 59008.)

Dated: October 29, 1997.

Aida Alvarez,

Administrator.

[FR Doc. 97–29757 Filed 11–10–97; 8:45 am]

BILLING CODE 8025–01–P

STATE JUSTICE INSTITUTE

Sunshine Act Meeting

DATE AND TIME: Monday, November 17,

1997; 9:00 a.m.–5:00 p.m.

PLACE: State Justice Institute, 1650 King

Street, Suite 600, Alexandria, VA 22314.

MATTERS TO BE CONSIDERED: FY 1997

grant requests, internal Institute

business matters.

PORTIONS OPEN TO THE PUBLIC: All

matters other than those noted as closed

below.

PORTIONS CLOSED TO THE PUBLIC: Internal

personnel matters and Board of

Directors’ committee meetings.

CONTACT PERSON FOR MORE INFORMATION:

David I. Tevelin, Executive Director,

State Justice Institute, 1650 King Street,

Suite 600, Alexandria, VA 22314, (703)

684–6100.

David I. Tevelin,

Executive Director.

[FR Doc. 97–29840 Filed 11–7–97; 12:24 pm]

BILLING CODE 6820–SC–M

DEPARTMENT OF TRANSPORTATION

Aviation Proceedings, Agreements

Filed During the Week of October 31,

1997

The following Agreements were filed

with the Department of Transportation

under the provisions of 49 U.S.C. 412

and 414. Answers may be filed within

21 days of date of filing.

Docket Number: OST–97–3053.

Date Filed: October 28, 1997.

Parties: Members of the International

Air Transport Association.

Subject:

PTC1 Telex Mail Vote 894

Chile-Brazil fares

r1–070j, r2–072vv, r3–078m

Intended effective date: November 15,

1997.

Docket Number: OST–97–3054.

Date Filed: October 28, 1997.

Parties: Members of the International

Air Transport Association.

Subject:

PTC2 Telex Mail Vote 896

TC2 Fares from Algeria

Intended effective date: November 15,

1997.

Docket Number: OST–97–3055.

Date Filed: October 28, 1997.

Parties: Members of the International

Air Transport Association.

Subject:

PTC12 SATL–EUR 0023 dated

October 24, 1997

South Atlantic-Europe Expedited

Resos r1–6

r–1—002r, r–3—076w, r–5—078LL