Submission for OMB Review; Comment Request, 7485-7486 [E7-2614]

Download as PDF Federal Register / Vol. 72, No. 31 / Thursday, February 15, 2007 / Notices ycherry on PROD1PC64 with NOTICES describe in its annual report to shareholders the fund’s policy concerning repurchase offers and the results of any repurchase offers made during the reporting period. The fund’s board of directors must adopt written procedures designed to ensure that the fund’s investment portfolio is sufficiently liquid to meet its repurchase obligations and other obligations under the rule. The board periodically must review the composition of the fund’s portfolio and change the liquidity procedures as necessary. The fund also must file copies of advertisements and other sales literature with the Commission as if it were an open-end investment company subject to section 24 of the Investment Company Act (15 U.S.C. 80a–24) and the rules that implement section 24.2 The requirement that the fund send a notification to shareholders of each offer is intended to ensure that a fund provides material information to shareholders about the terms of each offer, which may differ from previous offers on such matters as the maximum amount of shares to be repurchased (the maximum repurchase amount may range from 5% to 25% of outstanding shares). The requirement that copies be sent to the Commission is intended to enable the Commission to monitor the fund’s compliance with the notification requirement. The requirement that the shareholder notification be attached to Form N–23c–3 is intended to ensure that the fund provides basic information necessary for the Commission to process the notification and to monitor the fund’s use of repurchase offers. The requirement that the fund describe its current policy on repurchase offers and the results of recent offers in the annual shareholder report is intended to provide shareholders current information about the fund’s repurchase policies and its recent experience. The requirement that the board approve and review written procedures designed to maintain portfolio liquidity is intended to ensure that the fund has enough cash or liquid securities to meet its repurchase obligations, and that written procedures are available for review by shareholders and examination by the Commission. The requirement that the fund file advertisements and sales literature as if it were an open-end investment company is intended to facilitate the review of these materials by the Commission or the NASD to 2 Rule 24b–3 under the Investment Company Act (17 CFR 270.24b–3), however, would generally exempt the fund from that requirement when the materials are filed instead with the NASD, as nearly always occurs under NASD procedures, which apply to the underwriter of every fund. VerDate Aug<31>2005 18:37 Feb 14, 2007 Jkt 211001 prevent incomplete, inaccurate, or misleading disclosure about the special characteristics of a closed-end fund that makes periodic repurchase offers. Complying with the collection of information requirements of the rule is mandatory only for those funds that rely on the rule in order to repurchase shares of the fund. The information provided to the Commission on Form N–23c–3 will not be kept confidential. The Commission staff estimates that approximately 34 funds make use of rule 23c–3, and that on average a fund spends approximately 126 hours annually in complying with the requirements of the rule and Form N– 23c–3. The Commission staff therefore estimates the total annual burden of the rule’s and form’s paperwork requirements to be 4284 hours. Written comments are invited on: (a) Whether the collections of information are necessary for the proper performance of the functions of the Commission, including whether the information has practical utility; (b) the accuracy of the Commission’s estimate of the burdens of the collections of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burdens of the collections 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 R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson 6432 General Green Way, Alexandria, Virginia 22312; or send an e-mail to: PRA_Mailbox@sec.gov. Dated: February 6, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–2613 Filed 2–14–07; 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 Filings and Information Services, Washington, DC 20549. Extension: Rule 30e–1, SEC File No. 270– 21 OMB Control No. 3235–0025 PO 00000 Frm 00099 Fmt 4703 Sfmt 4703 7485 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 (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. The collection of information is entitled: ‘‘Rule 30e–1 under the Investment Company Act of 1940, Reports to Stockholders of Management Companies.’’ Section 30(e) (15 U.S.C. 80a–29(e)) of the Investment Company Act of 1940 (‘‘Investment Company Act’’) (15 U.S.C. 80a–1 et seq.) requires a registered investment company (‘‘fund’’) to transmit to its shareholders, at least semi-annually, reports containing information and financial statements as the Commission may prescribe. Among other requirements, Rule 30e–1 (17 CFR 270.30e–1) under the Investment Company Act directs funds to include in the shareholder reports the information that is required by the fund’s registration statement. Failure to require the collection of this information would seriously impede the amount of current information available to shareholders and the public about funds and would prevent the Commission from implementing the regulatory program required by statute. The estimated annual number of respondents providing shareholder reports under Rule 30e–1 is 4,040. The proposed frequency of response is semiannual. The estimate of the total annual reporting burden of the collection of information is approximately 145.8 hours per shareholder report and the total estimated annual burden for the industry is 1,178,064 hours (145.8 hours per report × 2 reports × 4,040 funds). Providing the information required by Rule 30e–1 is mandatory. Responses will not be kept confidential. Estimates of the burden hours are made solely for the purposes of the Paperwork Reduction Act, and are not derived from a comprehensive or even a representative survey or study of the costs of SEC rules and forms. 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. General comments regarding the above information should be directed to the following persons: (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 e-mail to: E:\FR\FM\15FEN1.SGM 15FEN1 7486 Federal Register / Vol. 72, No. 31 / Thursday, February 15, 2007 / Notices David_Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 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: February 5, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–2614 Filed 2–14–07; 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 Filings and Information Services, Washington, DC 20549. ycherry on PROD1PC64 with NOTICES Extension: Form N–Q; SEC File No. 270–519; OMB Control No. 3235–0578 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 (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. • Form N–Q—Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company Form N–Q (17 CFR 249.332 and 274.130) is a reporting form under Sections 13 and 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.), in addition to the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) (‘‘Investment Company Act’’) that requires a fund to file its complete portfolio schedule as of the end of its first and third fiscal quarters with the Commission. Form N–Q contains collection of information requirements. The respondents to this information collection will be management investment companies subject to Rule 30e–1 under the Investment Company Act registering with the Commission on Forms N–1A, N–2, or N–3. Approximately 3,237 entities, including 8,963 portfolios, are required to file Form N–Q, which is estimated to require an average of 21 hours per portfolio per year to complete. The estimated annual burden of complying with the filing requirement is approximately 188,223 hours. The estimates of average burden hours are VerDate Aug<31>2005 18:37 Feb 14, 2007 Jkt 211001 made solely for the purposes of the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) and are not derived from a comprehensive or even representative survey or study of the cost of Commission rules and forms. The collection of information under Form N–Q is mandatory. The information provided by the Form is not kept confidential. 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. General comments regarding the above information should be directed to the following persons: (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 e-mail to: David_Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 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. February 5, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–2629 Filed 2–14–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Federal Register Citation of Previous Announcement: [To be Published]. Status: Closed meeting. Place: 100 F Street, NE., Washington, DC. Announcement of Additional Meeting: Additional Meeting (Week of February 12, 2007). A Closed Meeting has been scheduled for Tuesday, February 13, 2007 at 12:30 p.m. Commissioners and certain staff members who have an interest in the matter will attend the Closed Meeting. The General Counsel of the Commission, or his designee, has certified that, in his opinion as set forth in 5 U.S.C. 552b(c)(10) and 17 CFR 200.402(a)(10), permit consideration of the scheduled matter at the Closed Meeting. Commissioner Campos as duty officer, voted to consider the item listed for the closed meeting in closed session, and PO 00000 Frm 00100 Fmt 4703 Sfmt 4703 determined that no earlier notice thereof was possible. The subject matter of the Closed Meeting scheduled for Tuesday, February 13, 2007 will be: An adjudicatory matter. 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) 551–5400. Dated: February 12, 2007. Nancy M. Morris, Secretary. [FR Doc. 07–725 Filed 2–13–07; 11:06 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission will hold the following meeting during the week of February 20, 2007: A closed meeting will be held on Thursday, February 22, 2007 at 2 p.m. Commissioners, Counsels 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)(3), (5), (7), 9(B) and (10) and 17 CFR 200.402(a)(3), (5), (7), 9(ii) and (10) permit consideration of the scheduled matters at the closed meeting. Commissioner Campos, as duty officer, voted to consider the items listed for the closed meeting in a closed session. The subject matter of the closed meeting scheduled for Thursday, February 22, 2007 will be: Formal orders of investigation; Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings of an enforcement nature; Other matters relating to enforcement proceeding; and Resolution of a litigation claim. 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 E:\FR\FM\15FEN1.SGM 15FEN1

Agencies

[Federal Register Volume 72, Number 31 (Thursday, February 15, 2007)]
[Notices]
[Pages 7485-7486]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-2614]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

    Upon written request, copies available from: Securities and 
Exchange Commission, Office of Filings and Information Services, 
Washington, DC 20549.

    Extension: Rule 30e-1, SEC File No. 270-21 OMB Control No. 3235-
0025

    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 
(``OMB'') a request for extension of the previously approved collection 
of information discussed below.
    The collection of information is entitled: ``Rule 30e-1 under the 
Investment Company Act of 1940, Reports to Stockholders of Management 
Companies.'' Section 30(e) (15 U.S.C. 80a-29(e)) of the Investment 
Company Act of 1940 (``Investment Company Act'') (15 U.S.C. 80a-1 et 
seq.) requires a registered investment company (``fund'') to transmit 
to its shareholders, at least semi-annually, reports containing 
information and financial statements as the Commission may prescribe. 
Among other requirements, Rule 30e-1 (17 CFR 270.30e-1) under the 
Investment Company Act directs funds to include in the shareholder 
reports the information that is required by the fund's registration 
statement. Failure to require the collection of this information would 
seriously impede the amount of current information available to 
shareholders and the public about funds and would prevent the 
Commission from implementing the regulatory program required by 
statute. The estimated annual number of respondents providing 
shareholder reports under Rule 30e-1 is 4,040. The proposed frequency 
of response is semi-annual. The estimate of the total annual reporting 
burden of the collection of information is approximately 145.8 hours 
per shareholder report and the total estimated annual burden for the 
industry is 1,178,064 hours (145.8 hours per report x 2 reports x 4,040 
funds). Providing the information required by Rule 30e-1 is mandatory. 
Responses will not be kept confidential. Estimates of the burden hours 
are made solely for the purposes of the Paperwork Reduction Act, and 
are not derived from a comprehensive or even a representative survey or 
study of the costs of SEC rules and forms.
    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.
    General comments regarding the above information should be directed 
to the following persons: (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 e-mail to:

[[Page 7486]]

David--Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief 
Information Officer, Securities and Exchange Commission, C/O Shirley 
Martinson, 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: February 5, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-2614 Filed 2-14-07; 8:45 am]
BILLING CODE 8011-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.