Proposed Collection; Comment Request, 72872 [E8-28427]
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Federal Register / Vol. 73, No. 231 / Monday, December 1, 2008 / Notices
rwilkins on PROD1PC63 with NOTICES
verifications of fund assets.4
Approximately 300 funds rely upon rule
17f–2 annually.5 Thus, the total annual
hour burden for rule 17f–2 is estimated
to be 81,300 hours.6 Based on the total
costs per fund listed above, the total
cost of the Rule 17f–2’s collection of
information requirements is estimated
to be $18.9 million.7
The estimate of average burden hours
is made solely for the purposes of the
Paperwork Reduction Act, and is not
derived from a comprehensive or even
a representative survey or study of the
costs of Commission rules and forms.
Complying with the collections of
information required by rule 17f–2 is
mandatory for those funds that maintain
custody of their own assets. Responses
will not be 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.
Written comments are invited on: (a)
Whether the collection of information is
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 burden of
the collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information 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 Lewis W. Walker, Acting Director/
CIO, 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.
4 This estimate is based on the following
calculation: 7 × $151 (fund senior accountant
hourly rate) = $1057.
5 Based on a review of Form N–17f–2 filings in
2007, the Commission staff estimates that 300 funds
relied on rule 17f–2 in 2007.
6 This estimate is based on the following
calculation: 300 (funds) × 271 (total annual hourly
burden per fund) = 81,300 hours for rule. The
annual burden for rule 17f–2 does not include time
spent preparing Form N–17f–2. The burden for
Form N–17f–2 is included in a separate collection
of information.
7 This estimate is based on the following
calculation: $62,996.50 (total annual cost per fund)
× 300 funds = $18,898,950.
VerDate Aug<31>2005
16:47 Nov 28, 2008
Jkt 217001
Dated: November 20, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–28418 Filed 11–28–08; 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:
Form N–17f–2; SEC File No. 270–317;
OMB Control No. 3235–0360.
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 350l et seq.), the Securities
and Exchange Commission (the
‘‘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 extension
and approval.
Form N–17f–2 (17 CFR 274.220)
under the Act is entitled ‘‘Certificate of
Accounting of Securities and Similar
Investments in the Custody of
Management Investment Companies.’’
Form N–17f–2 is the cover sheet for the
accountant examination certificates
filed under rule 17f–2 (17 CFR 270.17f–
2) by registered management investment
companies (‘‘funds’’) maintaining
custody of securities or other
investments. Form N–17f–2 facilitates
the filing of the accountant’s
examination certificates prepared under
rule 17f–2. The use of the form allows
the certificates to be filed electronically,
and increases the accessibility of the
examination certificates to both the
Commission’s examination staff and
interested investors by ensuring that the
certificates are filed under the proper
Commission file number and the correct
name of a fund.
Commission staff estimates that on an
annual basis it takes: (i) On average 1.25
hours of fund accounting personnel at a
total cost of $188.75 to prepare each
Form N–17f–2; 1 and (ii) .75 hours of
clerical time at a total cost of $48.75 to
file the Form N–17f–2 with the
Commission.2 Approximately 300 funds
1 This estimate is based on the following
calculation: 1.25 x $151 (fund senior accountant’s
hourly rate) = $188.75.
2 This estimate is based on the following
calculation: 75 x $65 (secretary hourly rate) =
$48.75.
PO 00000
Frm 00112
Fmt 4703
Sfmt 4703
currently file Form N–17f–2 with the
Commission, and each fund is required
to make three filings annually for a total
annual hourly burden per fund of
approximately 6 hours at a total cost of
$712.50. The total annual hour burden
for Form N–17f–2 is therefore estimated
to be approximately 1800 hours. Based
on the total annual costs per fund listed
above, the total cost of Form N–17f–2’s
collection of information requirements
is estimated to be approximately
$213,750.3
The estimate of average burden hours
is made solely for the purposes of the
Paperwork Reduction Act, and is not
derived from a comprehensive or even
a representative survey or study of the
costs of Commission rules and forms.
Complying with the collections of
information required by Form N–17f–2
is mandatory for those funds that
maintain custody of their own assets.
Responses will not be 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.
The Commission requests written
comments on: (a) Whether the collection
of information is 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 collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information 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 Lewis W. Walker, Acting Director/
CIO, 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.
Dated: November 20, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–28427 Filed 11–28–08; 8:45 am]
BILLING CODE 8011–01–P
3 This estimate is based on the following
calculation: 300 funds x $712.50 (total annual cost
per fund) = $213,750.
E:\FR\FM\01DEN1.SGM
01DEN1
]]>Agencies
[Federal Register Volume 73, Number 231 (Monday, December 1, 2008)]
[Notices]
[Page 72872]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-28427]
-----------------------------------------------------------------------
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:
Form N-17f-2; SEC File No. 270-317; OMB Control No. 3235-0360.
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 350l et seq.), the Securities and Exchange
Commission (the ``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 extension and approval.
Form N-17f-2 (17 CFR 274.220) under the Act is entitled
``Certificate of Accounting of Securities and Similar Investments in
the Custody of Management Investment Companies.'' Form N-17f-2 is the
cover sheet for the accountant examination certificates filed under
rule 17f-2 (17 CFR 270.17f-2) by registered management investment
companies (``funds'') maintaining custody of securities or other
investments. Form N-17f-2 facilitates the filing of the accountant's
examination certificates prepared under rule 17f-2. The use of the form
allows the certificates to be filed electronically, and increases the
accessibility of the examination certificates to both the Commission's
examination staff and interested investors by ensuring that the
certificates are filed under the proper Commission file number and the
correct name of a fund.
Commission staff estimates that on an annual basis it takes: (i) On
average 1.25 hours of fund accounting personnel at a total cost of
$188.75 to prepare each Form N-17f-2; \1\ and (ii) .75 hours of
clerical time at a total cost of $48.75 to file the Form N-17f-2 with
the Commission.\2\ Approximately 300 funds currently file Form N-17f-2
with the Commission, and each fund is required to make three filings
annually for a total annual hourly burden per fund of approximately 6
hours at a total cost of $712.50. The total annual hour burden for Form
N-17f-2 is therefore estimated to be approximately 1800 hours. Based on
the total annual costs per fund listed above, the total cost of Form N-
17f-2's collection of information requirements is estimated to be
approximately $213,750.\3\
---------------------------------------------------------------------------
\1\ This estimate is based on the following calculation: 1.25 x
$151 (fund senior accountant's hourly rate) = $188.75.
\2\ This estimate is based on the following calculation: 75 x
$65 (secretary hourly rate) = $48.75.
\3\ This estimate is based on the following calculation: 300
funds x $712.50 (total annual cost per fund) = $213,750.
---------------------------------------------------------------------------
The estimate of average burden hours is made solely for the
purposes of the Paperwork Reduction Act, and is not derived from a
comprehensive or even a representative survey or study of the costs of
Commission rules and forms. Complying with the collections of
information required by Form N-17f-2 is mandatory for those funds that
maintain custody of their own assets. Responses will not be 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.
The Commission requests written comments on: (a) Whether the
collection of information is 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 collection of information; (c) ways to enhance the
quality, utility, and clarity of the information 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 Lewis W. Walker, Acting
Director/CIO, 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.
Dated: November 20, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-28427 Filed 11-28-08; 8:45 am]
BILLING CODE 8011-01-P
