27336 Federal Register / Vol. 63, No. 95 / Monday, May 18, 1998 / Notices

19d–1 is 2.5 hours. The average cost per

hour is approximately $60. Therefore,

the total cost of compliance for the

respondents is $165,000.

A respondent is not required to retain

the Rule 19d–3 submission for any

specified period of time. The filing of a

motion seeking review of a final action

is mandatory only if the respondent

wants Commission review. The

submission does not involve the

collection of confidential information.

Rule 19h–1/Notice by a Self-Regulatory

Organization of a Proposed Admission to or

Continuance In Membership or Participation

or Association With a Member of Any Person

Subject to a Statutory Disqualification, and

Applications to the Commission for Relief

Therefrom.

Rule 19h–1 under the Act prescribes

the form and content of notices and

applications by SROs regarding

proposed admissions to, or

continuances in, membership,

participation or association with a

member of any person subject to a

statutory disqualification.

The Commission uses the information

provided in the submissions filed

pursuant to Rule 19h–1 to review

decisions of SROs to permit the entry

into or continuance in the securities

business of persons who have

committee serious misconduct. The

filings submitted pursuant to the rule

also permit inclusion of an application

to the Commission for consent to

associate with a member of an SRO

notwithstanding a Commission order

barring such association.

The Commission reviews filings made

pursuant to the rule to ascertain

whether it is in the public interest to

permit the employment in the securities

business of persons subject to statutory

disqualification. The filings contain

information that is essential to the staff’s

review and ultimate determination on

whether an association or employment

is in the public interest and consistent

with investor protection.

It is estimated that approximately 5

respondents will make submissions

pursuant to this rule annually, with a

total burden of 225 hours, based upon

past submissions. The staff estimates

that the average number of hours

necessary to comply with the

requirements of Rule 19h–1 is 4.5 hours.

The average cost per hour is

approximately $60. Therefore, the total

cost of compliance for the respondents

is $13,500.

A respondent is required to keep the

information not less than five years. The

filing of notices is mandatory but does

not involve the collection of

confidential information.

Please note that an agency may not

conduct or sponsor, and a person not

required to respond to, a collection of

information unless it displays a

currently valid control number.

General comments regarding the

above information should be directed to

the following persons: (1) 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, DC 20503, and (ii) Michael

E. Bartell, Associate Executive Director,

Office of Information Technology,

Securities and Exchange Commission,

450 Fifth Street, NW, Washington, DC

20549. Comments must be submitted to

OMB on or before June 17, 1998.

Dated: May 11, 1998.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 98–13097 Filed 5–15–98; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

Sunshine Act Meeting

Agency Meeting.

Notice is hereby given, pursuant to

the provisions of the Government in the

Sunshine Act, Pub. L. 94–409, that the

Securities and Exchange Commission

will hold the following meetings during

the week of May 18, 1998.

An open meeting will be held on

Wednesday, May 20, 1998, at 10:00 a.m.

A closed meeting will be held on

Thursday, May 21, 1998, at 10:00 a.m.

Commissioners, Counsel to the

Commissioners, the Secretary to the

Commission, and recording secretaries

will attend the closed meeting. Certain

staff members who have an interest in

the matters may also be present.

The General Counsel of the

Commission, or his designee, has

certified that, in his opinion, one or

more of the exemptions set forth in 5

U.S.C. 552b(c)(4), (8), (9)(A) and (10)

and 17 CFR 200.402(a)(4), (8), (9)(i) and

(10), permit consideration of the

scheduled matters at the closed meeting.

Commsissioner Unger, as duty officer,

voted to consider the items listed for the

closed meeting in a closed session.

The subject matter of the open

meeting scheduled for Wednesday, May

20, 1998, at 10:00 a.m., will be:

(1) The Commission, will consider

whether to adopt amendments to rules

14a–8, 14a–4, and 14a–5 under the

Securities Exchange Act of 1934. For

further information, please contact

Frank G. Zarb, Jr. or Sanjay M.

Shirodkar, Division of Corporation

Finance at (202) 942–2900 or Doretha

M. VanSlyke, Division of Investment

Management at (202) 942–0721.

(2) The Commission will consider a

proposal to amend Rule 504 of

Regulation D to address trading abuses

involving securities issued under that

rule. These proposals are part of the

Commission’s agenda to deter microcap

fraud. For further information, please

contact Richard K. Wulff or Barbara C.

Jacobs of the Division of Corporation

Finance at (202) 942–2950.

The subject matter of the closed

meeting scheduled for Thursday, May

21, 1998, at 10:00 a.m., will be

Institution and settlement of administrative

proceedings of an enforcement nature.

At times, changes in Commission

priorities require alterations in the

scheduling of meeting items. For further

information and to ascertain what, if

any, matters have been added, deleted

or postponed, please contact:

The Office of the Secretary at (202)

942–7070.

Dated: May 13, 1998.

Jonathan G. Katz,

Secretary.

[FR Doc. 98–13192 Filed 5–13–98; 4:07 pm]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

Sunshine Act Meeting

FEDERAL REGISTER CITATION OF PREVIOUS

ANNOUNCEMENT: [63 FR 26231, May 12,

1998].

STATUS: Closed Meeting.

PLACE: 450 Fifth Street, N.W.,

Washington, D.C.

DATE PREVIOUSLY ANNOUNCED: May 12,

1998.

CHANGE IN THE MEETING: Additional Item.

The following item was added to the

closed meeting held on Thursday, May

14, 1998, at 10:00 a.m.:

Settlement of injunctive action.

Commissioner Unger, as duty officer,

determined that Commission business

required the above change and that no

earlier notice thereof was possible.

At times, changes in Commission

priorities require alterations in the

scheduling of meeting items. For further

information and to ascertain what, if

any, matters have been added, deleted

or postponed, please contact:

The Office of the Secretary (202) 942–

7070.