Proposed Collection; Comment Request, 43171 [E9-20527]
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Federal Register / Vol. 74, No. 164 / Wednesday, August 26, 2009 / Notices
provided to the Designated Federal
Official 30 minutes before the meeting.
In addition, one electronic copy of each
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Designated Federal Official 1 day before
meeting. If an electronic copy cannot be
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containing each presentation at least 30
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Further information regarding this
meeting can be obtained by contacting
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urged to contact the above named
individual at least two working days
prior to the meeting to be advised of any
potential changes to the agenda.
Dated: August 19, 2009.
Antonio F. Dias,
Chief, Reactor Safety Branch B, Advisory
Committee on Reactor Safeguards.
[FR Doc. E9–20588 Filed 8–25–09; 8:45 am]
BILLING CODE 7590–01–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.
jlentini on DSKJ8SOYB1PROD with NOTICES
Extension: Rule 17f–6, SEC File No. 270–392,
OMB Control No. 3235–0447.
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501–3520), 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.
Rule 17f–6 (17 CFR 270.17f-6) under
the Investment Company Act of 1940
(15 U.S.C. 80a) permits registered
investment companies (‘‘funds’’) to
maintain assets (i.e., margin) with
futures commission merchants
(‘‘FCMs’’) in connection with
commodity transactions effected on
VerDate Nov<24>2008
17:05 Aug 25, 2009
Jkt 217001
both domestic and foreign exchanges.1
Prior to the rule’s adoption, funds
generally were required to maintain
these assets in special accounts with a
custodian bank.
The rule requires a written contract
that contains certain provisions
designed to ensure important safeguards
and other benefits relating to the
custody of fund assets by FCMs. To
protect fund assets, the contract must
require that FCMs comply with the
segregation or secured amount
requirements of the Commodity
Exchange Act (‘‘CEA’’) and the rules
under that statute. The contract also
must contain a requirement that FCMs
obtain an acknowledgment from any
clearing organization that the fund’s
assets are held on behalf of the FCM’s
customers according to CEA provisions.
Finally, FCMs are required to furnish to
the Commission or its staff on request
information concerning the fund’s assets
in order to facilitate Commission
inspections.
The Commission estimates that
approximately 2270 funds effect
commodities transactions and could
deposit margin with FCMs under Rule
17f-6 in connection with those
transactions. Commission staff estimates
that each fund uses and deposits margin
with two different FCMs in connection
with its commodity transactions.2
The Commission estimates that each
of the 2270 funds spends an average of
1 hour annually complying with the
contract requirements of the rule (i.e.,
executing contracts that contain the
requisite provisions with additional
FCMs), for a total of 2270 annual burden
hours. The estimate does not include
the time required by an FCM to comply
with the rule’s contract requirements
because, to the extent that complying
with the contract provisions could be
considered ‘‘collections of information,’’
the burden hours for compliance are
already included in other PRA
submissions or are de minimis.3 The
1 Custody of Investment Company Assets With
Futures Commission Merchants and Commodity
Clearing Organizations, Investment Company Act
Release No. 22389 (Dec. 11, 1996) [61 FR 66207
(Dec. 17, 1996)].
2 This estimate is based on information
conversations with representatives of the fund
industry.
3 The rule requires a contract with the FCM to
contain three provisions. Two of the provisions
require the FCM to comply with existing
requirements under the CEA and rules adopted
under that Act. Thus, to the extent these provisions
could be considered collections of information, the
hours required for compliance would be included
in the collection of information burden hours
submitted by the Commodity Futures Trading
Commission for its rules. The third contract
provision requires that the FCM produce records or
other information requested by the Commission or
PO 00000
Frm 00078
Fmt 4703
Sfmt 4703
43171
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.
Compliance with the collection of
information requirements of the rule is
necessary to obtain the benefit of relying
on the rule. If an FCM furnishes records
pertaining to a fund’s assets at the
request of the Commission or its staff,
the records will be kept confidential to
the extent permitted by relevant
statutory or regulatory provisions. The
rule does not require these records be
retained for any specific period of time.
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 after this
publication.
Please direct your written comments
to Charles Boucher, 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: August 19, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–20527 Filed 8–25–09; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon written request, copies available
from: U.S. Securities and Exchange
Commission, Office of Investor
its staff. Commission staff has requested this type
of information from an FCM so infrequently in the
past that the annual burden hours are de minimis.
E:\FR\FM\26AUN1.SGM
26AUN1
]]>Agencies
[Federal Register Volume 74, Number 164 (Wednesday, August 26, 2009)]
[Notices]
[Page 43171]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-20527]
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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 17f-6, SEC File No. 270-392, OMB Control No. 3235-
0447.
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501-3520), 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.
Rule 17f-6 (17 CFR 270.17f-6) under the Investment Company Act of
1940 (15 U.S.C. 80a) permits registered investment companies
(``funds'') to maintain assets (i.e., margin) with futures commission
merchants (``FCMs'') in connection with commodity transactions effected
on both domestic and foreign exchanges.\1\ Prior to the rule's
adoption, funds generally were required to maintain these assets in
special accounts with a custodian bank.
---------------------------------------------------------------------------
\1\ Custody of Investment Company Assets With Futures Commission
Merchants and Commodity Clearing Organizations, Investment Company
Act Release No. 22389 (Dec. 11, 1996) [61 FR 66207 (Dec. 17, 1996)].
---------------------------------------------------------------------------
The rule requires a written contract that contains certain
provisions designed to ensure important safeguards and other benefits
relating to the custody of fund assets by FCMs. To protect fund assets,
the contract must require that FCMs comply with the segregation or
secured amount requirements of the Commodity Exchange Act (``CEA'') and
the rules under that statute. The contract also must contain a
requirement that FCMs obtain an acknowledgment from any clearing
organization that the fund's assets are held on behalf of the FCM's
customers according to CEA provisions. Finally, FCMs are required to
furnish to the Commission or its staff on request information
concerning the fund's assets in order to facilitate Commission
inspections.
The Commission estimates that approximately 2270 funds effect
commodities transactions and could deposit margin with FCMs under Rule
17f-6 in connection with those transactions. Commission staff estimates
that each fund uses and deposits margin with two different FCMs in
connection with its commodity transactions.\2\
---------------------------------------------------------------------------
\2\ This estimate is based on information conversations with
representatives of the fund industry.
---------------------------------------------------------------------------
The Commission estimates that each of the 2270 funds spends an
average of 1 hour annually complying with the contract requirements of
the rule (i.e., executing contracts that contain the requisite
provisions with additional FCMs), for a total of 2270 annual burden
hours. The estimate does not include the time required by an FCM to
comply with the rule's contract requirements because, to the extent
that complying with the contract provisions could be considered
``collections of information,'' the burden hours for compliance are
already included in other PRA submissions or are de minimis.\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.
---------------------------------------------------------------------------
\3\ The rule requires a contract with the FCM to contain three
provisions. Two of the provisions require the FCM to comply with
existing requirements under the CEA and rules adopted under that
Act. Thus, to the extent these provisions could be considered
collections of information, the hours required for compliance would
be included in the collection of information burden hours submitted
by the Commodity Futures Trading Commission for its rules. The third
contract provision requires that the FCM produce records or other
information requested by the Commission or its staff. Commission
staff has requested this type of information from an FCM so
infrequently in the past that the annual burden hours are de
minimis.
---------------------------------------------------------------------------
Compliance with the collection of information requirements of the
rule is necessary to obtain the benefit of relying on the rule. If an
FCM furnishes records pertaining to a fund's assets at the request of
the Commission or its staff, the records will be kept confidential to
the extent permitted by relevant statutory or regulatory provisions.
The rule does not require these records be retained for any specific
period of time. 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 after this
publication.
Please direct your written comments to Charles Boucher, 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: August 19, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-20527 Filed 8-25-09; 8:45 am]
BILLING CODE 8010-01-P
