Submission for OMB Review; Comment Request, 28825-28826 [2011-12201]

Download as PDF srobinson on DSKHWCL6B1PROD with NOTICES Federal Register / Vol. 76, No. 96 / Wednesday, May 18, 2011 / Notices associated with these requirements of the rule is up to approximately 337.5 hours (135 registrants × 2.5 hours per registrant). The staff further estimates that during each year, approximately 15 global custodians 4 are required to make an average of 4 responses per custodian concerning the use of foreign custodians other than depositories. The staff estimates that each response will take approximately 270 hours, requiring approximately 1,080 total hours annually per custodian. The total annual burden associated with these requirements of the rule is approximately 16,200 hours (15 global custodians × 1,080 hours per custodian). Therefore, the total annual time burden of all collection of information requirements of rule 17f–5 is estimated to be up to 16,537.5 hours (337.5 + 16,200). The total annual internal cost of the burden is estimated to be $4,914,000 (337.5 hours × $4,000/hour for board of director’s time, plus 16,200 hours × $220/hour for a trust administrator’s time).5 Compliance with the collection of information requirements of the rule is necessary to obtain the benefit of relying on the rule’s permission for funds to maintain their assets in foreign custodians. The estimate of average time burden is made solely for the purposes of the Paperwork Reduction Act. The estimate is not derived from a comprehensive or even a representative survey or study of the costs of Commission rules and forms. Rule 17f–5 does not impose any paperwork related cost burden. 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, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 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. 4 This estimate is based on staff research. board hourly rate is based on fund industry representations. The $220/hour figure for a trust administrator is from SIFMA’s Management & Professional Earnings in the Securities Industry 2010, modified to account for an 1,800-hour workyear and multiplied by 5.35 to account for bonuses, firm size, employee benefits and overhead. 5 The VerDate Mar<15>2010 16:31 May 17, 2011 Jkt 223001 Dated: May 13, 2011. Cathy H. Ahn, Deputy Secretary. [FR Doc. 2011–12203 Filed 5–17–11; 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: Form N–17D–1; SEC File No. 270–231; OMB Control No. 3235–0229. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501–3520), the Securities and Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. Section 17(d) (15 U.S.C. 80a–17(d)) of the Investment Company Act of 1940 (‘‘Act’’) authorizes the Commission to adopt rules that protect funds and their security holders from overreaching by affiliated persons when the fund and the affiliated person participate in any joint enterprise or other joint arrangement or profit-sharing plan. Rule 17d-1 under the Act (17 CFR 270.17d–1) prohibits funds and their affiliated persons from participating in a joint enterprise, unless an application regarding the transaction has been filed with and approved by the Commission. Paragraph (d)(3) of the rule provides an exemption from this requirement for any loan or advance of credit to, or acquisition of securities or other property of, a small business concern, or any agreement to do any of the foregoing (‘‘investments’’) made by a small business investment company (‘‘SBIC’’) and an affiliated bank, provided that reports about the investments are made on forms the Commission may prescribe. Rule 17d–2 (17 CFR 270.17d–2) designates Form N– 17D–1 (17 CFR 274.200) (‘‘form’’) as the form for reports required by rule 17d– 1. SBICs and their affiliated banks use form N–17D–1 to report any contemporaneous investments in a small business concern. The form provides shareholders and persons seeking to make an informed decision about investing in an SBIC an opportunity to learn about transactions of the SBIC that have the potential for PO 00000 Frm 00100 Fmt 4703 Sfmt 4703 28825 self dealing and other forms of overreaching by affiliated persons at the expense of shareholders. Form N–17D–1 requires SBICs and their affiliated banks to report identifying information about the small business concern and the affiliated bank. The report must include, among other things, the SBIC’s and affiliated bank’s outstanding investments in the small business concern, the use of the proceeds of the investments made during the reporting period, any changes in the nature and amount of the affiliated bank’s investment, the name of any affiliated person of the SBIC or the affiliated bank (or any affiliated person of the affiliated person of the SBIC or the affiliated bank) who has any interest in the transactions, the basis of the affiliation, the nature of the interest, and the consideration the affiliated person has received or will receive. Up to three SBICs may file the form in any year.1 The Commission estimates the burden of filling out the form is approximately one hour per response and would likely be completed by an accountant or other professional. Based on past filings, the Commission estimates that no more than one SBIC is likely to use the form each year. Most of the information requested on the form should be readily available to the SBIC or the affiliated bank in records kept in the ordinary course of business, or with respect to the SBIC, pursuant to the recordkeeping requirements under the Act. Commission staff estimates that it should take approximately one hour for an accountant or other professional to complete the form.2 The estimated total annual burden of filling out the form is 1 hour, at an estimated total annual cost of $198.3 The Commission will not keep responses on Form N–17D–1 confidential. 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. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it 1 As of February 4, 2011, three SBICs were registered with the Commission. 2 This estimate of hours is based on past conversations with representatives of SBICs and accountants that have filed the form. 3 Commission staff estimates that the annual burden would be incurred by a senior accountant with an average hourly wage rate of $198 per hour. See Securities Industry and Financial Markets Association, Report on Management and Professional Earnings in the Securities Industry 2010, modified to account for an 1800-hour work year and multiplied by 5.35 to account for bonuses, firm size, employee benefits and overhead. E:\FR\FM\18MYN1.SGM 18MYN1 28826 Federal Register / Vol. 76, No. 96 / Wednesday, May 18, 2011 / Notices displays a currently valid 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, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 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: May 13, 2011. Cathy H. Ahn, Deputy Secretary. [FR Doc. 2011–12201 Filed 5–17–11; 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. estimate that Form 40–F takes approximately 427 hours per response and is filed by approximately 205 respondents. We estimate that 25% of the 427 hours per response (106.75 hours) is prepared by the issuer for a total reporting burden of 21,884 (106.75 hours per response x 205 responses). 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, 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 e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: May 11, 2011. Cathy H. Ahn, Deputy Secretary. [FR Doc. 2011–12155 Filed 5–17–11; 8:45 am] BILLING CODE 8011–01–P srobinson on DSKHWCL6B1PROD with NOTICES SECURITIES AND EXCHANGE COMMISSION 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 this request for approval of extension of the previously approved collection of information discussed below. Form 40–F (17 CFR 249.240f) is used by certain Canadian issuers to register a class of securities under Section 12 of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) (15 U.S.C. 78l) or as an annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (15 U.S.C. 78m(a) or 78o(d)). The information required in the Form 40–F is used by investors making investment decisions with respect to the securities of such Canadian companies. All information provided to the Commission is available for public review. Information provided by Form 40–F is mandatory. We [Release No. 34–64476; File No. SR–BYX– 2011–009] 16:31 May 17, 2011 Jkt 223001 Self-Regulatory Organizations; BATS Y–Exchange, Inc.; Notice of Filing of Proposed Rule Change by BATS Y– Exchange, Inc. To Amend BYX Rule 11.9, Entitled ‘‘Orders and Modifiers’’ and BYX Rule 11.13, Entitled ‘‘Order Execution’’ May 12, 2011. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on May 9, 2011, BATS Y–Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BYX’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. Frm 00101 Fmt 4703 II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in Sections A, B, and C below, of the most significant parts of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change Background The Exchange proposes a change to its order handling procedures to allow both Non-Displayed Orders 3 and orders subject to price sliding that are not executable at their most aggressive price to be executed at one-half minimum price variation less aggressive than that price. The reference to the most ‘‘aggressive’’ price, as used in this filing, means for bids the highest price the User is willing to pay, and for offers the lowest price at which the User is willing to sell. The Exchange believes that the proposed change to its order handling procedures will allow for tighter spreads on the Exchange and will provide both sides of a given transaction with price improvement not otherwise available without such change. In addition to the proposed changes to its order handling procedures, the Exchange proposes to modify the Exchange’s rules to make clear that an 3 As defined in Rule 11.9(c)(11), a Non-Displayed Order is ‘‘a market or limit order that is not displayed on the Exchange.’’ 1 15 PO 00000 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend BYX Rule 11.9, entitled ‘‘Orders and Modifiers’’ and BYX Rule 11.13, entitled ‘‘Order Execution.’’ The text of the proposed rule change is available at the Exchange’s Web site at http://www.batstrading.com, at the principal office of the Exchange, and at the Commission’s Public Reference Room. 1. Purpose Extension: Form 40–F; OMB Control No. 3235–0381; SEC File No. 270–335 . VerDate Mar<15>2010 by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. Sfmt 4703 E:\FR\FM\18MYN1.SGM 18MYN1

Agencies

[Federal Register Volume 76, Number 96 (Wednesday, May 18, 2011)]
[Notices]
[Pages 28825-28826]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-12201]


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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:
    Form N-17D-1; SEC File No. 270-231; OMB Control No. 3235-0229.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501-3520), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget a request for extension of the previously approved 
collection of information discussed below.
    Section 17(d) (15 U.S.C. 80a-17(d)) of the Investment Company Act 
of 1940 (``Act'') authorizes the Commission to adopt rules that protect 
funds and their security holders from overreaching by affiliated 
persons when the fund and the affiliated person participate in any 
joint enterprise or other joint arrangement or profit-sharing plan. 
Rule 17d-1 under the Act (17 CFR 270.17d-1) prohibits funds and their 
affiliated persons from participating in a joint enterprise, unless an 
application regarding the transaction has been filed with and approved 
by the Commission. Paragraph (d)(3) of the rule provides an exemption 
from this requirement for any loan or advance of credit to, or 
acquisition of securities or other property of, a small business 
concern, or any agreement to do any of the foregoing (``investments'') 
made by a small business investment company (``SBIC'') and an 
affiliated bank, provided that reports about the investments are made 
on forms the Commission may prescribe. Rule 17d-2 (17 CFR 270.17d-2) 
designates Form N-17D-1 (17 CFR 274.200) (``form'') as the form for 
reports required by rule 17d-1.
    SBICs and their affiliated banks use form N-17D-1 to report any 
contemporaneous investments in a small business concern. The form 
provides shareholders and persons seeking to make an informed decision 
about investing in an SBIC an opportunity to learn about transactions 
of the SBIC that have the potential for self dealing and other forms of 
overreaching by affiliated persons at the expense of shareholders.
    Form N-17D-1 requires SBICs and their affiliated banks to report 
identifying information about the small business concern and the 
affiliated bank. The report must include, among other things, the 
SBIC's and affiliated bank's outstanding investments in the small 
business concern, the use of the proceeds of the investments made 
during the reporting period, any changes in the nature and amount of 
the affiliated bank's investment, the name of any affiliated person of 
the SBIC or the affiliated bank (or any affiliated person of the 
affiliated person of the SBIC or the affiliated bank) who has any 
interest in the transactions, the basis of the affiliation, the nature 
of the interest, and the consideration the affiliated person has 
received or will receive.
    Up to three SBICs may file the form in any year.\1\ The Commission 
estimates the burden of filling out the form is approximately one hour 
per response and would likely be completed by an accountant or other 
professional. Based on past filings, the Commission estimates that no 
more than one SBIC is likely to use the form each year. Most of the 
information requested on the form should be readily available to the 
SBIC or the affiliated bank in records kept in the ordinary course of 
business, or with respect to the SBIC, pursuant to the recordkeeping 
requirements under the Act. Commission staff estimates that it should 
take approximately one hour for an accountant or other professional to 
complete the form.\2\ The estimated total annual burden of filling out 
the form is 1 hour, at an estimated total annual cost of $198.\3\ The 
Commission will not keep responses on Form N-17D-1 confidential.
---------------------------------------------------------------------------

    \1\ As of February 4, 2011, three SBICs were registered with the 
Commission.
    \2\ This estimate of hours is based on past conversations with 
representatives of SBICs and accountants that have filed the form.
    \3\ Commission staff estimates that the annual burden would be 
incurred by a senior accountant with an average hourly wage rate of 
$198 per hour. See Securities Industry and Financial Markets 
Association, Report on Management and Professional Earnings in the 
Securities Industry 2010, modified to account for an 1800-hour work 
year and multiplied by 5.35 to account for bonuses, firm size, 
employee benefits and overhead.
---------------------------------------------------------------------------

    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. An agency may not conduct or sponsor, and a person is 
not required to respond to, a collection of information unless it

[[Page 28826]]

displays a currently valid 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, Director/
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: May 13, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-12201 Filed 5-17-11; 8:45 am]
BILLING CODE 8011-01-P