Submission for OMB Review; Comment Request, 11825-11826 [2011-4723]

Download as PDF Federal Register / Vol. 76, No. 42 / Thursday, March 3, 2011 / Notices deadline for the Postal Service to file the administrative record with the Commission is March 10, 2011. 39 CFR 3001.113. In addition, the due date for any responsive pleading by the Postal Service to this Notice is March 10, 2011. Availability; Web site posting. The Commission has posted the appeal and supporting material on its Web site at http://www.prc.gov. Additional filings in this case and participants’ submissions also will be posted on the Commission’s Web site, if provided in electronic format or amenable to conversion, and not subject to a valid protective order. Information on how to use the Commission’s Web site is available online or by contacting the Commission’s Webmaster via telephone at 202–789–6873 or via electronic mail at prc-webmaster@prc.gov. The appeal and all related documents also are available for public inspection in the Commission’s docket section. Docket section hours are 8 a.m. to 4:30 p.m., Monday through Friday, except on Federal government holidays. Docket section personnel may be contacted via electronic mail at prc-dockets@prc.gov or via telephone at 202–789–6846. Filing of documents. All filings of documents in this case shall be made using the Internet (Filing Online) pursuant to Commission rules 9(a) and 10(a) at the Commission’s Web site, http://www.prc.gov, unless a waiver is obtained. 39 CFR 3001.9(a) and 3001.10(a). Instructions for obtaining an account to file documents online may be found on the Commission’s Web site or by contacting the Commission’s docket section at prc-dockets@prc.gov or via telephone at 202–789–6846. The Commission reserves the right to redact personal information which may infringe on an individual’s privacy rights from documents filed in this proceeding. Intervention. Those, other than the Petitioner and respondent, wishing to be heard in this matter are directed to file a notice of intervention. See 39 CFR 3001.111(b). Notices of intervention in this case are to be filed on or before March 22, 2011. A notice of intervention shall be filed using the Internet (Filing Online) at the Commission’s Web site unless a waiver is obtained for hardcopy filing. See 39 CFR 3001.9(a) and 3001.10(a). Further procedures. By statute, the Commission is required to issue its decision within 120 days from the date it receives the appeal. See 39 U.S.C. 11825 404(d)(5). A procedural schedule has been developed to accommodate this statutory deadline. In the interest of expedition, in light of the 120-day decision schedule, the Commission may request the Postal Service or other participants to submit information or memoranda of law on any appropriate issue. As required by the Commission rules, if any motions are filed, responses are due 7 days after any such motion is filed. See 39 CFR 3001.21. It is ordered: 1. The Postal Service shall file the administrative record regarding this appeal no later than March 10, 2011. 2. Any responsive pleading by the Postal Service to this Notice is due no later than March 10, 2011. 3. The procedural schedule listed below is hereby adopted. 4. Pursuant to 39 U.S.C. 505, Cassandra L. Hicks is designated officer of the Commission (Public Representative) to represent the interests of the general public. 5. The Secretary shall arrange for publication of this Notice and Order in the Federal Register. PROCEDURAL SCHEDULE February 23, 2011 ............................................... March 10, 2011 ................................................... March 10, 2011 ................................................... March 22, 2011 ................................................... March 30, 2011 ................................................... April 19, 2011 ...................................................... May 4, 2011 ........................................................ May 11, 2011 ...................................................... June 20, 2011 ..................................................... By the Commission. Shoshana M. Grove, Secretary. 3235–0560. [FR Doc. 2011–4752 Filed 3–2–11; 8:45 am] BILLING CODE 7710–FW–P SECURITIES AND EXCHANGE COMMISSION srobinson on DSKHWCL6B1PROD with NOTICES 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: Rule 27d–1 and Form N–27D–1; SEC File No. 270–499; OMB Control No. VerDate Mar<15>2010 16:47 Mar 02, 2011 Filing of Appeal. Deadline for Postal Service to file administrative record in this appeal. Deadline for the Postal Service to file any responsive pleading Deadline for notices to intervene (see 39 CFR 3001.111(b)). Deadline for Petitioner’s Form 61 or initial brief in support of petition (see 39 CFR 3001.115(a) and (b)). Deadline for answering brief in support of Postal Service (see 39 CFR 3001.115(c)). Deadline for reply briefs in response to answering briefs (see 39 CFR 3001.115(d)). Deadline for motions by any party requesting oral argument; the Commission will schedule oral argument only when it is a necessary addition to the written filings (see 39 CFR 3001.116). Expiration of the Commission’s 120-day decisional schedule (see 39 U.S.C. 404(d)(5)). Jkt 223001 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’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for extension of the previously approved collections of information under the Investment Company Act of 1940 (‘‘Act’’) 1 summarized below. Rule 27d–1 (17 CFR 270.27d–1) is entitled ‘‘Reserve Requirements for Principal Underwriters and Depositors to Carry Out the Obligations to Refund Charges Required by Section 27(d) and Section 27(f) of the Act.’’ Form N–27D– 1 15 PO 00000 U.S.C 80a–1 et seq. Frm 00075 Fmt 4703 Sfmt 4703 1 (17 CFR 274.127d–1) is entitled ‘‘Accounting of Segregated Trust Account.’’ Rule 27d–1 requires the depositor or principal underwriter for an issuer of a periodic payment plan to deposit funds into a segregated trust account to provide assurance of its ability to fulfill its refund obligations under sections 27(d) and 27(f) of the Act. The rule sets forth minimum reserve amounts and guidelines for the management and disbursement of the assets in the account. A single account may be used for the periodic payment plans of multiple investment companies. Rule 27d–1(j) directs depositors and principal underwriters to make an accounting of their segregated trust accounts on Form N–27D–1, which is intended to facilitate the E:\FR\FM\03MRN1.SGM 03MRN1 11826 Federal Register / Vol. 76, No. 42 / Thursday, March 3, 2011 / Notices srobinson on DSKHWCL6B1PROD with NOTICES Commission’s oversight of compliance with the reserve requirements set forth in rule 27d–1. The form requires depositors and principal underwriters to report deposits to a segregated trust account, including those made pursuant to paragraphs (c) and (e) of the rule. Withdrawals pursuant to paragraph (f) of the rule also must be reported. In addition, the form solicits information regarding the minimum amount required to be maintained under paragraphs (d) and (e) of rule 27d–1. Depositors and principal underwriters must file the form once a year on or before January 31 of the year following the year for which information is presented.2 Rule 27d–1, which was explicitly authorized by statute, provides assurance that depositors and principal underwriters of issuers have access to sufficient cash to meet the demands of certificate holders who reconsider their decisions to invest in a periodic payment plan. The information collection requirements in rule 27d–1 enable the Commission to monitor compliance with reserve rules. Effective October 27, 2006, the Military Personnel Financial Services Protection Act banned the issuance or sale of new periodic payment plans. Accordingly, the staff estimates that there is no information collection burden associated with rule 27d–1 or Form N–27D–1. For administrative purposes, however, we are requesting approval for an information collection burden of one hour per year. This estimate of burden hours is not derived from a comprehensive or necessarily even representative study of the cost of the Commission’s rules and forms. Complying with the collection of information requirements of rule 27d–1 is mandatory for depositors or principal underwriters of issuers of periodic payment plans unless they comply with the requirements in rule 27d–2 (17 CFR 270.27d–2). The information provided pursuant to rule 27d–1 is public and, therefore, will not be kept confidential. An agency may not conduct or sponsor, and a person is not required to respond 2 Instead of relying on rule 27d–1 and filing Form N–27D–1, depositors or principal underwriters for the issuers of periodic payment plans may rely on the exemption afforded by rule 27d–2. In order to comply with rule 27d–2: (i) The depositor or principal underwriter must secure from an insurance company a written guarantee of the refund requirements; (ii) the insurance company must satisfy certain financial criteria; and (iii) the depositor or principal underwriter must file as an exhibit to the issuer’s registration statement, a copy of the written undertaking, an annual statement that the insurance company has met the requisite financial criteria on a monthly basis, and an annual audited balance sheet. VerDate Mar<15>2010 16:47 Mar 02, 2011 Jkt 223001 to, a collection of information unless it displays a valid OMB control number. The public may view the background documentation for this information collection at the following Web site, http://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 email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: February 25, 2011. Cathy H. Ahn, Deputy Secretary. [FR Doc. 2011–4723 Filed 3–2–11; 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. Extension: Rule 17a–6; SEC File No. 270–506; OMB Control No. 3235–0564. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501), 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. 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 Rule 17a–6 (17 CFR 270.17a– 6) permits a fund and a ‘‘portfolio affiliate’’ (a company that is an affiliated person of the fund because the fund controls the company, or holds five percent or more of the company’s 1 15 PO 00000 U.S.C. 80a–17(a). Frm 00076 Fmt 4703 outstanding voting securities) to engage in principal transactions that would otherwise be prohibited under section 17(a) of the Act under certain conditions. A fund may not rely on the exemption in the rule to enter into a principal transaction with a portfolio affiliate if certain prohibited participants (e.g., directors, officers, employees, or investment advisers of the fund) have a financial interest in a party to the transaction. Rule 17a–6 specifies certain interests that are not ‘‘financial interests,’’ including any interest that the fund’s board of directors (including a majority of the directors who are not interested persons of the fund) finds to be not material. A board making this finding is required to record the basis for the finding in its meeting minutes. This recordkeeping requirement is a collection of information under the Paperwork Reduction Act of 1995 (‘‘PRA’’).2 The rule is designed to permit transactions between funds and their portfolio affiliates in circumstances in which it is unlikely that the affiliate would be in a position to take advantage of the fund. In determining whether a financial interest is ‘‘material,’’ the board of the fund should consider whether the nature and extent of the interest in the transaction is sufficiently small that a reasonable person would not believe that the interest affected the determination of whether to enter into the transaction or arrangement or the terms of the transaction or arrangement. The information collection requirements in rule 17a–6 are intended to ensure that Commission staff can review, in the course of its compliance and examination functions, the basis for a board of director’s finding that the financial interest of an otherwise prohibited participant in a party to a transaction with a portfolio affiliate is not material. Based on staff discussions with fund representatives, we estimate that funds currently do not rely on the exemption from the term ‘‘financial interest’’ with respect to any interest that the fund’s board of directors (including a majority of the directors who are not interested persons of the fund) finds to be not material. Accordingly, we estimate that annually there will be no principal transactions under rule 17a–6 that will result in a collection of information. The Commission requests authorization to maintain an inventory of one burden hour to ease future renewals of rule 17a–6’s collection of information analysis should funds rely 2 44 Sfmt 4703 E:\FR\FM\03MRN1.SGM U.S.C. 3501. 03MRN1

Agencies

[Federal Register Volume 76, Number 42 (Thursday, March 3, 2011)]
[Notices]
[Pages 11825-11826]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-4723]


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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:
    Rule 27d-1 and Form N-27D-1; SEC File No. 270-499; OMB Control No. 
3235-0560.

    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'') has submitted to the Office of 
Management and Budget (``OMB'') a request for extension of the 
previously approved collections of information under the Investment 
Company Act of 1940 (``Act'') \1\ summarized below.
---------------------------------------------------------------------------

    \1\ 15 U.S.C 80a-1 et seq.
---------------------------------------------------------------------------

    Rule 27d-1 (17 CFR 270.27d-1) is entitled ``Reserve Requirements 
for Principal Underwriters and Depositors to Carry Out the Obligations 
to Refund Charges Required by Section 27(d) and Section 27(f) of the 
Act.'' Form N-27D-1 (17 CFR 274.127d-1) is entitled ``Accounting of 
Segregated Trust Account.'' Rule 27d-1 requires the depositor or 
principal underwriter for an issuer of a periodic payment plan to 
deposit funds into a segregated trust account to provide assurance of 
its ability to fulfill its refund obligations under sections 27(d) and 
27(f) of the Act. The rule sets forth minimum reserve amounts and 
guidelines for the management and disbursement of the assets in the 
account. A single account may be used for the periodic payment plans of 
multiple investment companies. Rule 27d-1(j) directs depositors and 
principal underwriters to make an accounting of their segregated trust 
accounts on Form N-27D-1, which is intended to facilitate the

[[Page 11826]]

Commission's oversight of compliance with the reserve requirements set 
forth in rule 27d-1. The form requires depositors and principal 
underwriters to report deposits to a segregated trust account, 
including those made pursuant to paragraphs (c) and (e) of the rule. 
Withdrawals pursuant to paragraph (f) of the rule also must be 
reported. In addition, the form solicits information regarding the 
minimum amount required to be maintained under paragraphs (d) and (e) 
of rule 27d-1. Depositors and principal underwriters must file the form 
once a year on or before January 31 of the year following the year for 
which information is presented.\2\
---------------------------------------------------------------------------

    \2\ Instead of relying on rule 27d-1 and filing Form N-27D-1, 
depositors or principal underwriters for the issuers of periodic 
payment plans may rely on the exemption afforded by rule 27d-2. In 
order to comply with rule 27d-2: (i) The depositor or principal 
underwriter must secure from an insurance company a written 
guarantee of the refund requirements; (ii) the insurance company 
must satisfy certain financial criteria; and (iii) the depositor or 
principal underwriter must file as an exhibit to the issuer's 
registration statement, a copy of the written undertaking, an annual 
statement that the insurance company has met the requisite financial 
criteria on a monthly basis, and an annual audited balance sheet.
---------------------------------------------------------------------------

    Rule 27d-1, which was explicitly authorized by statute, provides 
assurance that depositors and principal underwriters of issuers have 
access to sufficient cash to meet the demands of certificate holders 
who reconsider their decisions to invest in a periodic payment plan. 
The information collection requirements in rule 27d-1 enable the 
Commission to monitor compliance with reserve rules.
    Effective October 27, 2006, the Military Personnel Financial 
Services Protection Act banned the issuance or sale of new periodic 
payment plans. Accordingly, the staff estimates that there is no 
information collection burden associated with rule 27d-1 or Form N-27D-
1. For administrative purposes, however, we are requesting approval for 
an information collection burden of one hour per year. This estimate of 
burden hours is not derived from a comprehensive or necessarily even 
representative study of the cost of the Commission's rules and forms.
    Complying with the collection of information requirements of rule 
27d-1 is mandatory for depositors or principal underwriters of issuers 
of periodic payment plans unless they comply with the requirements in 
rule 27d-2 (17 CFR 270.27d-2). The information provided pursuant to 
rule 27d-1 is public and, therefore, 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 valid OMB 
control number.
    The public may view the background documentation for this 
information collection at the following Web site, http://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 
email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB 
within 30 days of this notice.

    Dated: February 25, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-4723 Filed 3-2-11; 8:45 am]
BILLING CODE 8011-01-P