Beruflich Dokumente
Kultur Dokumente
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Federal Register / Vol. 70, No. 65 / Wednesday, April 6, 2005 / Notices 17475
Federal Register Representative, Liaison Send comments to Mr. Gerald B. independent fiduciary, either by
and Policy Section (ODL); or any being Lindrew, Office of Policy and Research, confirmation slips or through quarterly
sent via express mail should be sent to U.S. Department of Labor, Employee reports. The fifth requirement calls for
DEA Headquarters, Attention: DEA Benefits Security Administration, 200 the broker-fiduciary to provide an
Federal Register Representative/ODL, Constitution Avenue, NW., Room N– annual summary of the transactions.
2401 Jefferson-Davis Highway, 5647, Washington, DC 20210. The annual summary must contain all
Alexandria, Virginia 22301; and must be Telephone: (202) 693–8410. Fax: (202) security transaction-related charges
filed no later than (60 days from 693–4745 (These are not toll-free incurred by the plan, the brokerage
publication). numbers). placement practices, and a portfolio
Dated: March 29, 2005. turnover ratio.
SUPPLEMENTARY INFORMATION:
William J. Walker, II. Review Focus
I. Background
Deputy Assistant Administrator, Office of The Department is particularly
Diversion Control, Drug Enforcement Prohibited Transaction Class
interested in comments that:
Administration. Exemption 86–128 permits persons who • Evaluate whether the proposed
[FR Doc. 05–6796 Filed 4–5–05; 8:45 am] serve as fiduciaries for employee benefit collection of information is necessary
BILLING CODE 4410–09–P plans to effect or execute securities for the proper performance of the
transactions on behalf of employee functions of the agency, including
benefit plans. The exemption also whether the information will have
DEPARTMENT OF LABOR allows sponsors of pooled separate practical utility;
accounts and other pooled investment • Evaluate the accuracy of the
Employee Benefits Security funds to use their affiliates to effect or agency’s estimate of the burden of the
Administration execute securities transactions for such proposed collection of information,
accounts in order to recapture brokerage including the validity of the
Proposed Extension of Information commissions for benefit of employee methodology and assumptions used;
Collection Request Submitted for benefit plans whose assets are • Enhance the quality, utility, and
Public Comment and maintained in pooled separate accounts clarity of the information to be
Recommendations; PTE 86–128 managed by the insurance companies. collected; and
This exemption provides relief from • Minimize the burden of the
ACTION: Notice. certain prohibitions in section 406(b) of collection of information on those who
the Employee Retirement Income are to respond, including through the
SUMMARY: The Department of Labor
Security Act of 1974 (ERISA) and from use of appropriate automated,
(Department), as part of its continuing the taxes imposed by section 4975(a) electronic, mechanical, or other
effort to reduce paperwork and and (b) of the Internal Revenue Code of technological collection techniques or
respondent burden, conducts a 1986 (the Code) by reason of Code other forms of information technology,
preclearance consultation program to section 4975(c)(1)(E) or (F). e.g., permitting electronic submissions
provide the general public and Federal In order to insure that the exemption of responses.
agencies with an opportunity to is not abused, that the rights of
comment on proposed and continuing participants and beneficiaries are III. Current Actions
collections of information in accordance protected, and that the exemption’s The Department is requesting an
with the Paperwork Reduction Act of conditions are being complied with, the extension of the currently approved ICR
1995 (PRA 95). This program helps to Department has included in the pertaining to Prohibited Transaction
ensure that requested data can be exemption five information collection Class Exemption 86–128 for certain
provided in the desired format, requirements. The first requirement is transactions involving employee benefit
reporting burden (time and financial written authorization executed in plans and securities broker-dealers. The
resources) is minimized, collection advance by an independent fiduciary of Department is not proposing or
instruments are clearly understood, and the plan whose assets are involved in implementing changes to the existing
the impact of collection requirements on the transaction with the broker- ICR at this time.
respondents can be properly assessed. fiduciary. The second requirement is, Agency: Department of Labor,
Currently, the Employee Benefits within three months of the Employee Benefits Security
Security Administration is soliciting authorization, the broker-fiduciary Administration.
comments concerning the proposed furnish the independent fiduciary with Title: PTE 86–128 for Certain
extension of a currently approved any reasonably available information Transactions Involving Employee
collection of information, Prohibited necessary for the independent fiduciary Benefit Plans and Securities Broker-
Transaction Class Exemption 86–128 for to determine whether an authorization Dealers.
certain transactions involving employee should be made. The information must Type of Review: Extension of a
benefit plans and securities broker- include a copy of the exemption, a form currently approved collection.
dealers. for termination, and a description of the OMB Numbers: 1210–0059.
A copy of the proposed information Affected Public: Individuals or
broker-fiduciary’s brokerage placement
collection request (ICR) can be obtained households; Business or other for-profit;
practices. The third requirement is that
by contacting the office listed below in Not-for-profit institutions.
the broker-fiduciary must provide a Total Respondents: 4,200.
the ADDRESSES section of this notice. termination form to the independent Total Responses: 284,000.
DATES: Written comments must be fiduciary annually so that the Frequency of Response: Quarterly;
submitted to the office listed in the independent fiduciary may terminate Annually.
ADDRESSES section below on or before the authorization without penalty to the Total Annual Burden: 93,530 hours.
June 6, 2005. plan; failure to return the form Total Annual Cost (Operating &
ADDRESSES: Interested parties are constitutes continuing authorization. Maintenance): $183,550.
invited to submit written comments The fourth requirement is for the broker- Comments submitted in response to
regarding the collection of information. fiduciary to report all transactions to the this request will be summarized and/or
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