66576 Federal Register / Vol. 65, No. 215 / Monday, November 6, 2000 / Notices

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

2 17 CFR 240.19b–4.

file additional applications would

impair Applicants’ ability to take

advantage of business opportunities as

they arise. Further, Applicants state that

if Applicants were required repeatedly

to seek exemptive relief with respect to

the same issues addressed in the

application described herein, investors

would not receive any benefit or

additional protection thereby.

Conclusion

Applicants assert, based on the

grounds summarized above, that their

exemptive requests meet the standards

set out in Section 6(c) of the Act,

namely, that the exemptions requested

are necessary or appropriate in the

public interest and consistent with the

protection of investors and the purposes

fairly intended by the policy and

provisions of the Act.

For the Commission, by the Division of

Investment Management, pursuant to

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–28325 Filed 11–3–00; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–43492; File No. SR–NASD–

00–64]

Self-Regulatory Organizations; Notice

of Filing of Proposed Rule Change by

the National Association of Securities

Dealers, Inc. Relating to the Regulatory

Element of the Continuing Education

Requirements

October 27, 2000.

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

Securities Exchange Act of 1934

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

notice is hereby given that on October

25, 2000, the National Association of

Securities Dealers, Inc. (‘‘NASD’’),

through its wholly owned subsidiary,

NASD Regulation, Inc. (‘‘NASD

Regulation’’), filed with the Securities

and Exchange Commission

(‘‘Commission’’) the proposed rule

change as described in Items I, II, and

III below, which Items have been

prepared by NASD Regulation. The

Commission is publishing this notice to

solicit comments on the proposed rule

change from interested persons.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

NASD Regulation proposes to amend

NASD Rule 1120(a) to permit the in-firm

delivery of the Regulatory Element of

the Continuing Education

Requirements. Currently, this computerbased training program can be

administered to registered persons only

at the location of an outside vendor.

Below is the text of the proposed rule

change. Proposed new language is in

italics.

1000. Membership, Registration and

Qualification Requirements * * *

1120. Continuing Education

Requirements

This Rule prescribes requirements

regarding the continuing education of

certain registered persons subsequent to

their initial qualification and

registration with the Association. The

requirements shall consist of a

Regulatory Element and a Firm Element

as set forth below.

(a) Regulatory Element

(1) through (5) No change

(6) In-Firm Delivery of the Regulatory

Element Members will be permitted to

administer the continuing education

Regulatory Element program to their

registered persons by instituting an infirm program acceptable to the

Association.

The following procedures are

required:

(A) Principal/Officer In-Charge. The

firm has designated a principal to be

responsible for the in-firm delivery of

the Regulatory Element.

(B) Site Requirements.

(i) The location of all delivery sites

will be under the control of the firm.

(ii) Delivery of Regulatory Element

continuing education all take place in

an environment conducive to training.

(Examples: a training facility,

conference room or other area dedicated

to this purpose would be appropriate.

Inappropriate locations would include a

personal office or any location that is

not or cannot be secured from traffic

and interruptions.)

(iii) Where multiple delivery terminals

are placed in a room, adequate

separation between terminals will be

maintained.

(C) Technology Requirements. The

communication links and firm delivery

computer hardware must comply with

standards defined by the Association or

its designated vendor.

(D) Supervision.

(i) The firm’s Written Supervisory

Procedures must contain the procedures

implemented to comply with the

requirements of in-firm delivery of the

Regulatory Element continuing

education.

(ii) The firm’s Written Supervisory

Procedures must identify the principal

designated pursuant to Rule

1120(a)(6)(A) and contain a list of

individuals authorized by the firm to

serve as proctors.

(iii) Firm locations for delivery of the

Regulatory element continuing

education will be specifically listed in

the firm’s Written Supervisory

Procedures.

(E) Proctors.

(i) All sessions will be proctored by an

authorized person during the entire

Regulatory Element session. Proctors

must be present in the session room or

must be able to view the person(s) sitting

for Regulatory Element continuing

education through a window or by video

monitor.

(ii) The individual responsible for

proctoring at each administration will

sign a certification that required

procedures have been followed, that no

material from Regulatory Element

continuing education has been

reproduced, and that no candidate

received any assistance to complete the

session. Such certification may be part

of the sign-in log required under Rule

1120(a)6)(F).

(iii) Individual serving as proctors

must be persons registered with an SRO

and supervised by the designated

principal for purposes of in-firm

delivery of the Regulatory Element

continuing education.

(iv) Proctors will check and verify the

identification of all individuals taking

Regulatory Element continuing

education.

(F) Administration.

(i) All appointments will be scheduled

in advance using the procedures and

software specified by the Association to

communicate with the Association’s

system and designated vendor.

(ii) The firm/proctor will conduct

each session in accordance with the

administrative appointment scheduling

procedures established by the

Association or its designated vendor.

(iii) A sign-in log will be maintained

at the delivery facility. Logs will contain

the date of each session, the name and

social security number of the individual

taking the session, that required

identification was checked, the sign-in

time, the sign-out time, and the name of

the individual proctoring the session.

Such logs are required to be retained

pursuant to SEC Rules 17a–3 and 17a–

4.

(iv) No material will be permitted to

be utilized for the session nor may any

session-related material be removed.

Federal Register / Vol. 65, No. 215 / Monday, November 6, 2000 / Notices 66577

3 15 U.S.C. 78o–3(b)(6).

(v) Delivery sites will be made

available for inspection by the SROs.

(vi) Before commencing in-firm

delivery of the Regulatory Element

continuing education, members are

required to file with their Designated

Examining Authority (‘‘DEA’’), a letter

of attestation (as specified below) signed

by a principal executive officer or

executive representative, attesting to the

establishment of required procedures

addressing principal in-charge,

supervision, site, technology, proctors,

and administrative requirements. Letters

filed with NASD Regulation, Inc. should

be sent to Member Regulation,

Continuing Education Department, 9509

Key West Avenue, Rockville, MD 20850.

Letter of Attestation for In-Firm Delivery

of Regulatory Element Continuing

Education

[Name of member] has established

procedures for delivering Regulatory

Element continuing education on its

premises. I have determined that these

procedures are reasonably designed to

comply with SRO requirements

pertaining to in-firm delivery of

Regulatory Element continuing

education, including that such

procedures have been implemented to

comply with principal/officer in-charge,

supervision, site, technology, proctors,

and administrative requirements.

Signature

lllllllllllllllllllll

Printed name

lllllllllllllllllllll

Title [Must be signed by a Principal

Executive Officer (or Executive

Representative) of the firm]

lllllllllllllllllllll

Date

(b) Firm Element No change.

* * * * *

II. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

In its filing with the Commission,

NASD Regulation included statements

concerning the purpose of and basis for

the proposed rule change and discussed

any comments it received on the

proposed rule change. The text of these

statements may be examined at the

places specified in Item IV below.

NASD Regulation has prepared

summaries, set forth in sections A, B,

and C below, of the most significant

aspects of such statements.

A. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

1. Purpose

The Regulatory Element is a 31⁄2 hour

computer-based training program that

currently can only be administered to

registered persons at the location of an

outside vendor. NASD Rule 1120(a)

requires that each registered person,

who is not exempt from the Rule,

complete the Regulatory Element on the

occurrence of his or her second

registration anniversary and every three

years thereafter. On each occasion, the

training must be completed within 120

days after the registered person’s

anniversary date. A registered person

who has not completed the Regulatory

Element within the prescribed time

period is deemed to be inactive until the

Regulatory Element has been fulfilled,

and may not conduct, or be

compensated for, activities requiring a

securities registration.

The Securities Industry/Regulatory

Council on Continuing Education

(‘‘Council’’) is responsible for the

oversight of the continuing education

program for the securities industry. The

Council’s duties include recommending

and helping to develop specific content

and questions for the Regulatory

Element, and minimum core curricula

for the Firm Element. The Council is

comprised of 14 representatives from a

broad cross section of broker/dealers,

six self-regulatory organizations,

including the NASD. The Council,

working with representatives from the

North American Securities

Administrators Association, and with

the knowledge of the Council’s SEC

liaisons, has developed a model under

which broker/dealers may deliver the

Regulatory Element computer-based

training on firm premises. The model

requires that the broker/dealer meet

certain conditions for in-firm delivery

relating to computer hardware and to

the security of the training delivery

environment. The proposed

amendments to Rule 1120(a)

encapsulate the delivery requirements

as specified by the Council. Firms of

any size may take advantage of the infirm delivery procedures.

2. Statutory Basis

NASD Regulation believes that the

proposed rule change is consistent with

the provisions of Section 15A(b)(6) of

the Act,3 which requires, among other

things, that the Association’s rules must

be designed to prevent fraudulent and

manipulative acts and practices, to

promote just and equitable principles of

trade, and, in general, to protect

investors and the public interest. NASD

Regulation believes that the proposed

rule change will facilitate registered

persons’ satisfying their obligations to

meet the Regulatory Element of the

continuing education requirement.

B. Self-Regulatory Organization’s

Statement on Burden on Competition

NASD Regulation does not believe

that the proposed rule change will result

in 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

Written comments were neither

solicited nor received.

III. Date of Effectiveness of the

Proposed Rule Change and Timing For

Commission Action

Within 35 days of the date of

publication of this notice in the Federal

Register or within such longer period (i)

as the Commission may designate up to

90 days of such date if it finds such

longer period to be appropriate and

publishes its reasons for so finding or

(ii) as to which the NASD consents, the

Commission will:

A. By order approve such proposed

rule change, or

B. Institute proceedings to determine

whether the proposed rule change

should be disapproved.

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.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, NW,

Washington, DC 20549–0609. 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 this

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. Copies of such filing will also be

available for inspection and copying at

66578 Federal Register / Vol. 65, No. 215 / Monday, November 6, 2000 / Notices

4 17 CFR 200.30–3(a)(12).

the principal office of the NASD. All

submissions should refer to file number

SR–NASD–00–64 and should be

submitted by November 27, 2000.

For the Commission by the Division of

Market Regulation, pursuant to delegated

authority.4

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–28386 Filed 11–3–00; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

RTCA Special Committee 194; ATM

Data Link Implementation

Pursuant to section 10(a)(2) of the

Federal Advisory Committee Act (Pub.

L. 92–463, 5 U.S.C., Appendix 2), notice

is hereby given for Special Committee

194 meeting to be held November 28–

30 (and December 1, if needed) 2000,

starting at 9 a.m. The meeting will be

held at RTCA, 1140 Connecticut Ave.,

NW, Suite 1020, Washington, DC 20036.

The agenda will include:

November 28

9 a.m. Plenary Session

(1) Review Agenda

(2) Review/Approve Previous Meeting

Summary

(3) Presentation by the U.S.

Representative to the ICAO Review

of the General Concept of

Separation Panel (RGCSP)

(4) Working Group Reports

(5) Presentation of WG–2’s document,

DO–XXX: ‘‘Implementation

Requirements for Services

Integrating Flight Operations and

Air Traffic Management Using

Addressed Data Link’’

1 p.m.

(6) Working Groups meet:

(a) WG–1, Data Link Ops Concept &

Implementation Plan

(b) WG–2, Flight Operations and ATM

Integration

(c) WG–3, Human Factors

(d) WG–4, Service Provider Interface

November 29

(7) Working Groups 1–4 continue

November 30

9 a.m. Plenary Session

(8) Develop Plenary Consensus approval

of WG–2’s document, DO–XXX:

‘‘Implementation Requirements for

Services Integrating Flight

Operations and Air Traffic

Management Using Addressed Data

Link’’

(9) Working Group Reports:

(e) Includes presentation of WG–4

draft working paper for plenary

review

(10) Other Business

(11) Date and Location of Next Meeting

(12) Closing

Attendance is open to the interested

public but limited to space availability.

With the approval of the chairman,

members of the public may present oral

statements at the meeting. Persons

wishing to present statements or obtain

information should contact the RTCA

Secretariat, 1140 Connecticut Avenue,

NW, Suite 1020, Washington, DC 20036;

(202) 833–9339 (phone); (202) 833–9434

(fax); or http://www.rtca.org (web site).

Members of the public may present a

written statement to the committee at

any time.

Issued in Washington, DC, on October 30,

2000.

Janice L. Peters,

Designated Official.

[FR Doc. 00–28441 Filed 11–3–00; 8:45 am]

BILLING CODE 4910–13–M

DEPARTMENT OF TRANSPORTATION

Federal Highway Administration

[Docket No. FHWA–2000–8194]

Agency Information Collection

Activities; Request for Comments;

Renewed Approval of Seven

Information Collections

AGENCY: Federal Highway

Administration (FHWA), DOT.

ACTION: Notice and request for

comments.

SUMMARY: The FHWA invites public

comments about our intention to request

the Office of Management and Budget’s

(OMB) approval to renew seven

information collections which are

summarized below under

Supplementary Information. We are

required to publish this notice in the

Federal Register by the Paperwork

Reduction Act of 1995.

DATES: Please submit comments by

January 5, 2001.

ADDRESSES: You may mail or hand

deliver comments to the U.S.

Department of Transportation, Dockets

Management Facility, Room PL–401,

400 Seventh Street, SW., Washington,

DC 20590; telefax comments to 202/

493–2251; or submit electronically at

http://dmses.dot.gov/submit. All

comments should include the docket

number in this notice’s heading as well

as the OMB control number referencing

the specific information collection that

is being addressed. All comments may

be examined and copied at the above

address from 9 a.m. to 5 p.m., Monday

through Friday, except Federal holidays.

If you desire a receipt you must include

a self-addressed stamped envelope or

postcard or, if you submit your

comments electronically, you may print

the acknowledgment page.

PUBLIC COMMENTS INVITED: You are asked

to comment on any aspect of these

information collections, including: (1)

Whether the proposed collections are

necessary for the FHWA’s performance;

(2) the accuracy of estimated burdens;

(3) ways for the FHWA to enhance the

quality, usefulness, and clarity of the

collected information; and (4) ways that

burdens could be minimized, including

use of electronic technology, without

reducing the quality of the collected

information. The agency will summarize

and/or include your comments in the

request for OMB’s clearance of these

information collections.

SUPPLEMENTARY INFORMATION:

1. Title: Bid Price Data.

OMB Control Number: 2125–0010

(Expiration Date: March 31, 2001).

Abstract: Information collected on

Form FHWA–45, Bid Price Data, is

needed for the FHWA to monitor

changes in purchasing power of the

Federal-aid construction dollar. FHWA

follows these trends so that changes in

highway construction prices can be

measured and funding level

recommendations to Congress can be

justified. The Federal share of the cost

of certain projects constructed by the

States in advance of regular

apportionments is adjusted based on the

bid price index (Title 23 United States

Code 115). Form FHWA–45 is prepared

for Federal-aid highway construction

contracts greater than $0.5 million in

the 50 States plus Washington, DC, and

Puerto Rico. Data is reported on six

major items of highway construction,

together with the total materials and

labor costs of the project, taken from the

bid tabulation of construction items

submitted by the lowest or winning

bidder to the State Transportation

Department. The State Transportation

Departments furnish copies of the bid

tabulation to the FHWA that uses the

data to produce the national FHWA bid

price index and related statistics.

Respondents: 52 State Transportation

Departments, including the District of

Columbia and Puerto Rico.

Frequency: The data is collected by

the States and submitted to FHWA one