582 Federal Register / Vol. 63, No. 3 / Tuesday, January 6, 1998 / Notices

Office of Personnel Management.

Janice R. Lachance,

Director.

[FR Doc. 98–218 Filed 1–5–98; 8:45 am]

BILLING CODE 6325–01–P

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 206(3)–2

SEC File No. 270–216

OMB Control No. 3235–0243.

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 publishing the

following summary of collections for

public comment.

Rule 206(3)–2 permits investment

advisers to comply with section 206(3)

of the Investment Advisers Act of 1940

by obtaining a blanket consent from a

client to enter into agency cross

transactions, provided that certain

disclosures are made to the client. The

information requirements of the rule

consist of the following: (1) Prior to

obtaining the client’s consent

appropriate disclosure must be made to

the client as to the practice of, and the

conflicts of interest involved in, agency

cross transactions; (2) at or before the

completion of any such transaction the

client must be furnished with a written

confirmation containing specified

information and offering to furnish

upon request certain additional

information; and (3) at least annually,

the client must be furnished with a

written statement or summary as to the

total number of transactions during the

period covered by the consent and the

total amount of commissions received

by the adviser or its affiliated brokerdealer attributable to such transactions.

The information required by rule

206(3)–2 is used by the Commission in

connection with its investment adviser

inspection program to ensure that

advisers are in compliance with rule

206(3)–2. The information is also used

by clients. Without the information

collected under the rule, the

Commission would be less efficient and

effective in its inspection program and

clients would not have information

valuable for monitoring the adviser’s

handling of their accounts.

The Commission estimates that

approximately 233 respondents utilize

the rule annually, necessitating about

122 responses per respondent each year,

for a total of 28,426 responses. Each

response requires about .5 hours, for a

total of 14,213 hours.

The estimated average burden hours

are made solely for the purposes of the

Paperwork Reduction Act and are not

derived from a comprehensive or even

representative survey or study of the

cost of Commission rules and forms.

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 estimate

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 collection techniques or

other forms of information technology.

Consideration will be given to

comments and suggestions submitted in

writing within 60 days of this

publication.

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: December 23, 1997.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 98–160 Filed 1–5–98; 8:45 am]

BILLING CODE 8010–01–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.

Rule 11Aa3–2

OMB Control No. 3235-new

SEC File No. 270–439

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 collection of information

summarized below. The Commission

plans to submit this existing collection

of information to the Office of

Management and Budget for approval.

• Rule 11Aa3–2 Filing and Amendment

of National Market System Plans

Rule 11Aa3–2 provides that selfregulatory organizations (‘‘SROs’’) may,

acting jointly, file a national market

system plan or may propose an

amendment to an effective national

market system plan by submitting the

text of the plan or amendment to the

Secretary of the Commission, together

with a statement of the purpose of such

plan or amendment and, to the extent

applicable, the documents and

information required by Rule 11Aa3–

2(b)(4) and (5). These record keeping

requirements assist the Commission

with monitoring SROs, national market

system plans, and ensuring compliance

with the rule.

There are nine SROs which are

members of the Intermarket Trading

System (‘‘ITS’’), the Consolidated Tape

Association (‘‘CTA’’), the Consolidated

Quote System (‘‘CQS’’), the Nasdaq

Stock Market, Inc., (‘‘Nasdaq’’), or the

Options Price Reporting Association

(‘‘OPRA’’). Only ITS, CTA, CQS,

Nasdaq, or OPRA submit filings

pursuant to Rule 11Aa3–2 and only after

an agreement is reached among member

SROs. The staff estimates that there will

be approximately six filings pursuant to

Rule 11Aa3–2 each year. The staff also

estimates that the average number of

hours necessary for compliance with the

Rule 11Aa3–2 is 33 annually. The total

burden is approximately 200 hours

annually, based upon past submissions.

The average cost per hour is

approximately $50. Therefore, the total

cost of compliance for SROs is $10,000.

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 collection 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.