Submission for OMB Review; Comment Request, 81680 [2010-32522]
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Federal Register / Vol. 75, No. 248 / Tuesday, December 28, 2010 / Notices
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 Thomas Bayer, Chief Information
Officer, Securities and Exchange
Commission, c/o Remi-Pavlik Simon,
6432 General Green Way, Alexandria,
VA 22312; or send an e-mail to:
PRA_Mailbox@sec.gov.
December 20, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–32517 Filed 12–27–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of Investor
Education and Advocacy,
Washington, DC 20549–0213.
emcdonald on DSK2BSOYB1PROD with NOTICES
Extension: Regulation S–AM; SEC File No.
270–548; OMB Control No. 3235–0609.
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 approval of extension of the
previously approved collection of
information provided for in Regulation
S–AM (17 CFR part 248, subpart B),
under the Fair and Accurate Credit
Transactions Act of 2003 (Pub. L. 108–
159, Section 214, 117 Stat. 1952 (2003))
(‘‘FACT Act’’), the Securities Exchange
Act of 1934 (15 U.S.C. 78a et seq.), the
Investment Company Act of 1940 (15
U.S.C. 80a–1 et seq.), and the
Investment Advisers Act of 1940 (15
U.S.C. 80b–1 et seq.).
Regulation S–AM implements the
requirements of Section 214 of the
FACT Act as applied to brokers, dealers,
and investment companies, as well as
investment advisers and transfer agents
that are registered with the Commission
(collectively, ‘‘Covered Persons’’). As
directed by Section 214 of the FACT
Act, before a receiving affiliate may
make marketing solicitations based on
the communication of certain consumer
financial information from a Covered
Person, the Covered Person must
provide a notice to each affected
individual informing the individual of
VerDate Mar<15>2010
22:37 Dec 27, 2010
Jkt 223001
his or her right to prohibit such
marketing. The regulation potentially
applies to all of the approximately
21,496 Covered Persons registered with
the Commission, although only
approximately 12,038 of them have one
or more corporate affiliates, and the
regulation would require only
approximately 2,150 of them to provide
consumers with notice and an opt-out
opportunity.
The Commission staff estimates that
there are approximately 12,038 Covered
Persons having one or more affiliates,
and that they would require an average
one-time burden of 1 hour to review
affiliate marketing practices, for a total
of 12,038 hours, at a total staff cost of
approximately $2,527,929. The staff also
estimates that approximately 2,150
Covered Persons would be required to
provide notice and opt-out
opportunities to consumers, and would
incur an average first-year burden of 18
hours in doing so, for a total estimated
first-year burden of 38,700 hours, at a
total staff cost of approximately
$10,294,200. With regard to continuing
notice burdens, the staff estimates that
each of the approximately 2,150
Covered Persons required to provide
notice and opt-out opportunities to
consumers would incur a burden of
approximately 4 hours per year to create
and deliver notices to new consumers
and record any opt outs that are
received on an ongoing basis, for a total
of 8,600 hours, at a total staff cost of
approximately $490,200 per year.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimates of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information on respondents; 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.
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.
The public may view the background
documentation for this information
collection at the following Web site,
https://www.reginfo.gov. Comments
should be directed to: (i) Desk Officer
for the Securities and Exchange
Commission, Office of Information and
Regulatory Affairs, Office of
Management and Budget, Room 10102,
PO 00000
Frm 00121
Fmt 4703
Sfmt 4703
New Executive Office Building,
Washington, DC 20503, or by sending an
e-mail to:
Shagufta_Ahmed@omb.eop.gov; and (ii)
Thomas Bayer, Chief Information
Officer, Securities and Exchange
Commission, c/o Remi Pavlik-Simon,
6432 General Green Way, Alexandria,
VA 22312 or send an e-mail to:
PRA_Mailbox@sec.gov. Comments must
be submitted to OMB within 30 days of
this notice.
Dated: December 21, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–32522 Filed 12–27–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of Investor
Education and Advocacy,
Washington, DC 20549–0213.
Extension: Rule 17a–10; SEC File No. 270–
507; OMB Control No. 3235–0563.
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 (the
‘‘Commission’’) is soliciting comments
on the collections of information
summarized below. The Commission
plans to submit these existing
collections of information to the Office
of Management and Budget (‘‘OMB’’) for
extension and approval.
Section 17(a) of the Investment
Company Act of 1940 (the ‘‘Act’’),
generally prohibits affiliated persons of
a registered investment company
(‘‘fund’’) from borrowing money or other
property from, or selling or buying
securities or other property to or from,
the fund or any company that the fund
controls.1 Section 2(a)(3) of the Act
defines ‘‘affiliated person’’ of a fund to
include its investment advisers.2 Rule
17a–10 (17 CFR 270.17a–10) permits (i)
a subadviser of a fund to enter into
transactions with funds the subadviser
does not advise but that are affiliated
persons of a fund that it does advise
(e.g., other funds in the fund complex),
and (ii) a subadviser (and its affiliated
persons) to enter into transactions and
arrangements with funds the subadviser
does advise, but only with respect to
discrete portions of the subadvised fund
1 15
2 15
E:\FR\FM\28DEN1.SGM
U.S.C. 80a–17(a).
U.S.C. 80a–2(a)(3)(E).
28DEN1
]]>Agencies
[Federal Register Volume 75, Number 248 (Tuesday, December 28, 2010)]
[Notices]
[Page 81680]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-32522]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of Investor Education and Advocacy, Washington, DC
20549-0213.
Extension: Regulation S-AM; SEC File No. 270-548; OMB Control No.
3235-0609.
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 approval of extension of the previously approved collection
of information provided for in Regulation S-AM (17 CFR part 248,
subpart B), under the Fair and Accurate Credit Transactions Act of 2003
(Pub. L. 108-159, Section 214, 117 Stat. 1952 (2003)) (``FACT Act''),
the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.), the
Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.), and the
Investment Advisers Act of 1940 (15 U.S.C. 80b-1 et seq.).
Regulation S-AM implements the requirements of Section 214 of the
FACT Act as applied to brokers, dealers, and investment companies, as
well as investment advisers and transfer agents that are registered
with the Commission (collectively, ``Covered Persons''). As directed by
Section 214 of the FACT Act, before a receiving affiliate may make
marketing solicitations based on the communication of certain consumer
financial information from a Covered Person, the Covered Person must
provide a notice to each affected individual informing the individual
of his or her right to prohibit such marketing. The regulation
potentially applies to all of the approximately 21,496 Covered Persons
registered with the Commission, although only approximately 12,038 of
them have one or more corporate affiliates, and the regulation would
require only approximately 2,150 of them to provide consumers with
notice and an opt-out opportunity.
The Commission staff estimates that there are approximately 12,038
Covered Persons having one or more affiliates, and that they would
require an average one-time burden of 1 hour to review affiliate
marketing practices, for a total of 12,038 hours, at a total staff cost
of approximately $2,527,929. The staff also estimates that
approximately 2,150 Covered Persons would be required to provide notice
and opt-out opportunities to consumers, and would incur an average
first-year burden of 18 hours in doing so, for a total estimated first-
year burden of 38,700 hours, at a total staff cost of approximately
$10,294,200. With regard to continuing notice burdens, the staff
estimates that each of the approximately 2,150 Covered Persons required
to provide notice and opt-out opportunities to consumers would incur a
burden of approximately 4 hours per year to create and deliver notices
to new consumers and record any opt outs that are received on an
ongoing basis, for a total of 8,600 hours, at a total staff cost of
approximately $490,200 per year.
Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the Commission, including whether the information
shall have practical utility; (b) the accuracy of the Commission's
estimates of the burden of the proposed collection of information; (c)
ways to enhance the quality, utility, and clarity of the information on
respondents; 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.
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.
The public may view the background documentation for this
information collection at the following Web site, https://www.reginfo.gov. Comments should be directed to: (i) Desk Officer for
the Securities and Exchange Commission, Office of Information and
Regulatory Affairs, Office of Management and Budget, Room 10102, New
Executive Office Building, Washington, DC 20503, or by sending an e-
mail to: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Chief
Information Officer, Securities and Exchange Commission, c/o Remi
Pavlik-Simon, 6432 General Green Way, Alexandria, VA 22312 or send an
e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB
within 30 days of this notice.
Dated: December 21, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-32522 Filed 12-27-10; 8:45 am]
BILLING CODE 8011-01-P
