9612 Federal Register / Vol. 66, No. 27 / Thursday, February 8, 2001 / Notices

1Rule 8b–3 provides that whenever a registration

form requires the title of securities to be stated, the

registrant must indicate the type and general

character of the securities to be issued. Rule 8b–22

provides that if the existence of control is open to

reasonable doubt, the registrant may disclaim the

existence of control, but it must state the material

facts pertinent to the possible existence of control.

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

2 17 CFR 240.19b–4.

Street, Chicago, Illinois 60611–2092 and

the OMB reviewer, Joe Lackey (202–

395–7316), Office of Management and

Budget, Room 10230, New Executive

Office Building, Washington, DC 20503.

Chuck Mierzwa,

Clearance Officer.

[FR Doc. 01–3329 Filed 2–7–01; 8:45 am]

BILLING CODE 7905–01–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.

Extension:

Rules 8b–1 to 8b–32, SEC File No. 270–

135, OMB Control No. 3235–0176

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. The Commission plans

to submit these existing collections of

information to the Office of

Management and Budget for extension

and approval.

Rules 8b–1 to 8b–32 under the

Investment Company Act of 1940 (the

‘‘Act’’) are the procedural rules an

investment company must follow when

preparing and filing a registration

statement. These rules were adopted to

standardize the mechanics of

registration under the Act and to

provide more specific guidance for

persons registering under the Act than

the information contained in the statute.

For the most part, these procedural rules

do not require the disclosure of

information. Two of the rules, however,

require limited disclosure of

information.1 The information required

is necessary to ensure that investors

have clear and complete information

upon which to base an investment

decision. The Commission uses the

information that investment companies

provide on registration statements in its

regulatory, disclosure review,

inspection and policy-making roles. The

respondents to the collection of

information are investment companies

filing registration statements under the

Act.

The Commission does not estimate

separately the total annual reporting and

recordkeeping burden associated with

Rules 8b–1 to 8b–32 because the burden

associated with these rules are included

in the burden estimates the Commission

submits for the investment company

registration statement forms (e.g., Form

N– 1A, Form N–2, Form N–3, and Form

N–4). For example, a mutual fund that

prepares a registration statement on

Form N–1A must comply with the rules

under Section 8(b), including rules on

riders, amendments, the form of the

registration statement, and the number

of copies to be submitted. Because the

fund only incurs a burden from the

Section 8(b) rules when preparing a

registration statement, it would be

impractical to measure the compliance

burden of these rules separately. The

Commission believes that including the

burden of the Section 8(b) rules with the

burden estimates for the investment

company registration statement forms

provides a more accurate and complete

estimate of the total burdens associated

with the registration process.

Rule 206(3)–2 permits investment

advisers to comply with Section 206(3)

of the Investment Advisers Act of 1940

(‘‘Advisers Act’’) 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 Commission uses the information

required by Rule 206(3)–2 in connection

with its investment adviser inspection

program to ensure that advisers are in

compliance with the rule. Adviser

clients also use the information to

monitor agency cross transactions.

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 785 respondents use the

rule annually, necessitating about 32

responses per respondent each year, for

a total of 25,120 responses. Each

response requires about .5 hours, for a

total of 12,560 hours.

The estimated average burden hours

are made solely for the purposes of the

PRA 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 Fifth Street, NW.,

Washington, DC 20549.

Dated: February 1, 2001.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 01–3236 Filed 2–7–01; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–43919; File No. SR–ISE–

01–01]

Self-Regulatory Organizations; Notice

of Filing and Immediate Effectiveness

of Proposed Rule Change by the

International Securities Exchange LLC,

Relating to Payment for Order Flow

February 1, 2001.

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

Securities Exchange Act of 1934

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