Federal Register / Vol. 63, No. 90 / Monday, May 11, 1998 / Notices 25887

and require FPL to obtain appraisals and

third-party oversight in order to

determine whether its work

environment encourages employees to

freely raise nuclear safety concerns; (4)

inform all employees of their rights

under the Energy Reorganization Act

and NRC’s regulations to raise such

concerns; and (5) establish a website on

the Internet to allow employees to raise

concerns to the NRC. As grounds for

these requests, Petitioners assert that

there is a widespread hostile work

environment at FPL’s facilities and that

certain employees have been subjected

to discrimination for raising nuclear

safety concerns, and that the NRC’s

process for handling allegations and

responding to concerns of

discrimination has been ineffective. In

addition, the Petition requests that the

NRC immediately investigate concerns

that contamination occurred and

remains uncorrected because of the flow

of water from a radioactive

contaminated area at St. Lucie into an

unlined pond, that FPL is improperly

grouping work orders, thereby reducing

the number of work open orders, that an

excessive amount of contract labor

remains onsite, and that, because NRC

inspectors are only assigned to the day

shift, many employees do not have

access to the NRC onsite and inspectors

cannot monitor safety-related work

functions outside the day shift. As

grounds for these requests, Petitioners

assert that the storm drains from FPL’s

radioactive contaminated area flow into

the pond and that FPL is aware of the

problem but has failed to identify or

correct this and directs its Health

Physics personnel to survey the pond by

sampling only surface water.

The requests are being treated

pursuant to 10 CFR 2.206 of the

Commission’s regulations. The requests

have been referred to the Director of the

Office of Nuclear Reactor Regulation.

The Petitioners’ requests for immediate

action were denied by letter dated May

4, 1998. Copies of the Petitions are

available for inspection at the

Commission’s Public Document Room

at 2120 L Street, NW, Washington, DC

20555.

Dated at Rockville, Maryland, this 4th day

of May 1998.

For the Nuclear Regulatory Commission.

Samuel J. Collins,

Director, Office of Nuclear Reactor

Regulation, U.S. Nuclear Regulatory

Commission.

[FR Doc. 98–12394 Filed 5–8–98; 8:45 am]

BILLING CODE 7590–01–P

SECURITIES AND EXCHANGE

COMMISSION

Requests Under Review by Office of

Management and Budget

Upon written request, copies available from:

Securities and Exchange Commission,

Office of Filings and Information

Services, Washington, DC 20549.

Extension: Rule 15a–6

SEC File No. 270–329

OMB Control No. 3235–0371

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’’) has submitted to the

Office of Management and Budget a

request for extension of the previously

approved collection of information

discussed below.

Rule 15a–6 [17 C.F.R. 240.15a–6]

under the Securities Exchange Act of

1934 (15 U.S.C. 78a et seq.) (‘‘Exchange

Act’’), which provides, among other

things, an exemption from broker-dealer

registration for foreign broker-dealers

that effect trades with or for U.S.

institutional investors through a U.S.

registered broker-dealer, provided that

the U.S. broker-dealer obtains certain

information about, and consents to

service of process from, the personnel of

the foreign broker-dealer involved in

such transactions, and maintains certain

records in connection therewith.

These requirements are intended to

ensure (a) that the U.S. broker-dealer

will receive notice of the identity of,

and has reviewed the background of,

foreign personnel who will contact U.S.

institutional investors, (b) that the

foreign broker-dealer and its personnel

effectively may be served with process

in the event enforcement action is

necessary, and (c) that the Securities

and Exchange Commission has ready

access to information concerning these

persons and their U.S. securities

activities.

In general, the records to be

maintained under Rule 15a–6 must be

kept for the applicable time periods as

set forth in Rule 17a–4 [17 C.F.R.

240.17a–4] under the Exchange Act or,

with respect to the consents to service

of process, for a period of not less than

six years after the applicable person

ceases engaging in U.S. securities

activities. Reliance on the exemption set

forth in Rule 15a–6 is voluntary, but if

a foreign broker-dealer elects to rely

such exemption, the collection of

information described therein is

mandatory. The collection does not

involve confidential information. Please

note that an agency may not conduct or

sponsor, and a person is not required to

respond to, a collection of information

unless it displays a currently valid

control number.

It is estimated that approximately

2,000 respondents will incur an average

burden of three hours per year to

comply with this rule, for a total burden

of 6,000 hours. The average cost per

hour is approximately $100. Therefore,

the total cost of compliance for the

respondents is $600,000.

General comments regarding the

estimated burden hours should be

directed to the Desk Officer for the

Securities and Exchange 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: (i) Michael

E. Bartell, Associate Executive Director,

Office of Information Technology,

Securities and Exchange Commission,

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

20549; and (ii) Desk Officer for the

Securities and Exchange Commission,

Office of Information and Regulatory

Affairs, Office of Management and

Budget, Room 3208, New Executive

Office Building, Washington, D.C.

20503. Comments must be submitted

within 30 days of this notice.

Dated: April 30, 1998.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 98–12348 Filed 5–8–98; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Rel. No. IC–23169; 812–10746]

CypressTree Asset Management

Corporation, Inc. and North American

Funds; Notice of Application

May 4, 1998.

AGENCY: Securities and Exchange

Commission (‘‘SEC’’).

ACTION: Notice of application for

exemption under section 6(c) of the

Investment Company Act of 1940 (the

‘‘Act’’) from section 15(a) of the Act and

rule 18f–2 under the Act as well as

certain disclosure requirements.

SUMMARY OF APPLICATION: Applicants,

CypressTree Asset Management

Corporation, Inc. (‘‘CAM’’) and North

American Funds (the ‘‘Fund’’), request

an order that would (a) permit

applicants to hire subadvisers

(‘‘Managers’’) and materially amend

sub-advisory agreements (‘‘Portfolio

Management Agreements’’) without

shareholder approval and (b) grant relief

from certain disclosure requirements.