Proposed Collection; Comment Request, 34109-34110 [2011-14392]
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Federal Register / Vol. 76, No. 112 / Friday, June 10, 2011 / Notices
1. Evaluate whether the proposed
collection of information is necessary
for the proper performance of functions
of the agency, including whether the
information will have practical utility;
2. Evaluate the accuracy of the
agency’s estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used;
3. Enhance the quality, utility, and
clarity of the information to be
collected; and
4. Minimize the burden of the
collection of information on those who
are to respond, including through the
use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
e.g., permitting electronic submissions
of responses.
DATES: Comments are encouraged and
will be accepted until August 9, 2011.
This process is conducted in accordance
with 5 CFR 1320.1.
ADDRESSES: Interested persons are
invited to submit written comments on
the proposed information collection to
U.S. Office of Personnel Management,
Linda Bradford (Acting) Deputy
Associate Director, Retirement
Operations, Retirement Services, 1900 E
Street, NW., Room 3305, Washington,
DC 20415–3500 or sent via electronic
mail to Martha.Moore@opm.gov.
FOR FURTHER INFORMATION CONTACT: A
copy of this ICR, with applicable
supporting documentation, may be
obtained by contacting the Retirement
Services Publications Team. Office of
Personnel Management, 1900 E Street,
NW., Room 4332, Washington, DC
20415, Attention: Cyrus S. Benson, or
sent via electronic mail to
Cyrus.Benson@opm.gov or faxed to
(202) 606–0910.
SUPPLEMENTARY INFORMATION: RI 20–80
is used for individuals who are eligible
to elect whether to receive a reduced
annuity and a lump-sum payment equal
to their retirement contributions
(alternative form of annuity) or an
unreduced annuity and no lump sum.
WReier-Aviles on DSKGBLS3C1PROD with NOTICES
Analysis
Agency: Retirement Operations,
Retirement Services, Office of Personnel
Management.
Title: Alternative Annuity Election.
OMB Number: 3206–0168.
Frequency: On occasion.
Affected Public: Individuals or
Households.
Number of Respondents: 200.
Estimated Time per Respondent: 20
minutes.
Total Burden Hours: 67 hours.
VerDate Mar<15>2010
14:33 Jun 09, 2011
Jkt 223001
U.S. Office of Personnel Management.
John Berry,
Director.
[FR Doc. 2011–14457 Filed 6–9–11; 8:45 am]
BILLING CODE 6325–38–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 20549–2833.
Extension:
Rule 30b1–5; SEC File No. 270–520; OMB
Control No. 3235–0577.
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 (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 (‘‘OMB’’) for
extension and approval.
Rule 30b1–5 (17 CFR 270.30b1–5)
under the Investment Company Act of
1940 (15 U.S.C. 80a–1 et seq.) (the
‘‘Investment Company Act’’) requires
registered management investment
companies, other than small business
investment companies registered on
Form N–5 (17 CFR 239.24 and 274.5)
(‘‘funds’’), to file a quarterly report via
the Commission’s EDGAR system on
Form N–Q (17 CFR 249.332 and
274.130), not more than sixty calendar
days after the close of each first and
third fiscal quarter, containing their
complete portfolio holdings. The
purpose of the collection of information
required by rule 30b1–5 is to meet the
disclosure requirements of the
Investment Company Act and to provide
investors with information necessary to
evaluate an interest in the fund by
improving the transparency of
information about the fund’s portfolio
holdings.
The Commission estimates that there
are 2,580 management investment
companies, with a total of
approximately 9,160 portfolios, that are
governed by the rule. For purposes of
this analysis, the burden associated with
the requirements of rule 30b1–5 has
been included in the collection of
information requirements of Form N–Q,
rather than the rule.
The collection of information under
rule 30b1–5 is mandatory. The
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34109
information provided under rule 30b1–
5 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 OMB control
number.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’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 Thomas A. Bayer, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way,
Alexandria, VA 22312; or send an email to: PRA_Mailbox@sec.gov.
Dated: June 6, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011–14391 Filed 6–9–11; 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:
Rule 22d–1; Sec File No. 270–275; OMB
Control No. 3235–0310.
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 collections of information
summarized below. The Commission
plans to submit these existing
collections of information to the Office
of Management and Budget for
extension and approval.
Rule 22d–1 under the Investment
Company Act of 1940 (the ‘‘Act’’) (17
CFR 270.22d–1) provides registered
E:\FR\FM\10JNN1.SGM
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34110
Federal Register / Vol. 76, No. 112 / Friday, June 10, 2011 / Notices
investment companies that issue
redeemable securities (‘‘funds’’) an
exemption from section 22(d) of the
Investment Company Act (15 U.S.C.
80a–22(d)) to the extent necessary to
permit scheduled variations in or
elimination of the sales load on fund
securities for particular classes of
investors or transactions, provided
certain conditions are met. The rule
imposes an annual burden per series of
a fund of approximately 15 minutes, so
that the total annual burden for the
approximately 4862 series of funds that
might rely on the rule is estimated to be
1215.5 hours.
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. 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 OMB control
number.
Written comments are requested 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(s) 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 Thomas Bayer, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way,
Alexandria, VA 22312; or send an email
to: PRA_Mailbox@sec.gov.
Dated: June 6, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011–14392 Filed 6–9–11; 8:45 am]
WReier-Aviles on DSKGBLS3C1PROD with NOTICES
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Jkt 223001
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’’) is soliciting comments
on the collections of information
summarized below. The Commission
plans to submit these existing
collections of information to the Office
of Management and Budget (‘‘OMB’’) for
extension and approval.
Section 32(a)(2) of the Investment
Company Act (15 U.S.C. 80a–31(a)(2))
requires that shareholders of a registered
investment management or face-amount
certificate company (collectively,
‘‘funds’’) ratify or reject the selection of
the fund’s independent public
accountant. Rule 32a–4 (17 CFR
270.32a–4) exempts funds from this
requirement if (i) The fund’s board of
directors establishes an audit committee
composed solely of independent
directors with responsibility for
overseeing the fund’s accounting and
auditing processes,1 (ii) the fund’s board
of directors adopts an audit committee
charter setting forth the committee’s
structure, duties, powers and methods
of operation, or sets forth such
provisions in the fund’s charter or
bylaws,2 and (iii) the fund maintains a
copy of such an audit committee
charter, and any modifications to the
charter, permanently in an easily
accessible place.3
Each fund that chooses to rely on rule
32a–4 incurs two collection of
information burdens. The first, related
to the board of directors’ adoption of the
audit committee charter, occurs once,
when the committee is established. The
second, related to the fund’s
maintenance and preservation of a copy
of the charter in an easily accessible
place, is an ongoing annual burden. The
information collection requirement in
rule 32a–4 enables the Commission to
monitor the duties and responsibilities
of an independent audit committee
formed by a fund relying on the rule.
Commission staff estimates that, on
average, the board of directors takes 15
minutes to adopt the audit committee
charter. Commission staff has estimated
that with an average of 8 directors on
the board,4 total director time to adopt
32a–4(a).
32a–4(b).
3 Rule 32a–4(c).
4 This estimate is based on staff discussions with
a representative of an entity that surveys funds and
calculates fund board statistics based on responses
to its surveys.
2 Rule
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of Investor
14:33 Jun 09, 2011
Extension:
Rule 32a–4; SEC File No. 270–473; OMB
Control No. 3235–0530.
1 Rule
Proposed Collection; Comment
Request
VerDate Mar<15>2010
Education and Advocacy,
Washington, DC 20549.
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the charter is 2 hours. Combined with
an estimated 1 hour of paralegal time to
prepare the charter for board review, the
staff estimates a total one-time
collection of information burden of 3
hours for each fund. Once a board
adopts an audit committee charter, a
fund generally maintains it in a file
cabinet or as a computer file.
Commission staff has estimated that
there is no annual hourly burden
associated with maintaining the charter
in this form.5
Because virtually all funds extant
have now adopted audit committee
charters, the annual one-time collection
of information burden associated with
adopting audit committee charters is
limited to the burden incurred by newly
established funds. Commission staff
estimates that fund sponsors establish
approximately 117 new funds each
year,6 and that all of these funds will
adopt an audit committee charter in
order to rely on rule 32a–4. Thus,
Commission staff estimates that the
annual one-time hour burden associated
with adopting an audit committee
charter under rule 32a–4 going forward
will be approximately 351 hours.7
As noted above, all funds that rely on
rule 32a–4 are subject to the ongoing
collection of information requirement to
preserve a copy of the charter in an
easily accessible place. This ongoing
requirement, which Commission staff
has estimated has no hourly burden,
applies to new funds that adopt an audit
committee charter each year and to all
funds that have previously adopted the
charter and continue to maintain it.
When funds adopt an audit committee
charter in order to rely on rule 32a–4,
they also may incur one-time costs
related to hiring outside counsel to
prepare the charter. Commission staff
estimates that those costs average
approximately $1500 per fund.8
5 No hour burden related to such maintenance of
the charter was identified by the funds the
Commission staff surveyed. Commission staff
understands that many audit committee charters
have been significantly revised after their adoption
in response to the Sarbanes-Oxley Act (Pub. L. 107–
204, 116 Stat. 745) and other developments.
However, the costs associated with these revisions
are not attributable to the requirements of rule 32a–
4.
6 This estimate is based on the number of Form
N–8As filed from January 2010 through December
2010.
7 This estimate is based on the following
calculation: (3.0 burden hours for establishing
charter × 117 new funds = 351 burden hours).
8 Costs may vary based on the individual needs
of each fund. However, based on the staff’s
conversations with outside counsel that prepare
these charters, legal fees related to the preparation
and adoption of an audit committee charter usually
average $1500 or less. The Commission also
understands that the ICI has prepared a model audit
committee charter, which most legal professionals
E:\FR\FM\10JNN1.SGM
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]]>Agencies
[Federal Register Volume 76, Number 112 (Friday, June 10, 2011)]
[Notices]
[Pages 34109-34110]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-14392]
-----------------------------------------------------------------------
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 22d-1; Sec File No. 270-275; OMB Control No. 3235-0310.
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
collections of information summarized below. The Commission plans to
submit these existing collections of information to the Office of
Management and Budget for extension and approval.
Rule 22d-1 under the Investment Company Act of 1940 (the ``Act'')
(17 CFR 270.22d-1) provides registered
[[Page 34110]]
investment companies that issue redeemable securities (``funds'') an
exemption from section 22(d) of the Investment Company Act (15 U.S.C.
80a-22(d)) to the extent necessary to permit scheduled variations in or
elimination of the sales load on fund securities for particular classes
of investors or transactions, provided certain conditions are met. The
rule imposes an annual burden per series of a fund of approximately 15
minutes, so that the total annual burden for the approximately 4862
series of funds that might rely on the rule is estimated to be 1215.5
hours.
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. 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 OMB
control number.
Written comments are requested 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(s)
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 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
email to: PRA_Mailbox@sec.gov.
Dated: June 6, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-14392 Filed 6-9-11; 8:45 am]
BILLING CODE 8011-01-P
