Proposed Collection; Comment Request, 54813-54814 [2011-22572]
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Federal Register / Vol. 76, No. 171 / Friday, September 2, 2011 / Notices
based on the earnings of employees
whose social security numbers end with
the digits ‘‘30.’’ The gross earnings are
used to compute payroll taxes under the
financial interchange.
The gross earnings information is
essential in determining the tax
amounts involved in the financial
interchange with the Social Security
Administration and Centers for
Medicare and Medicaid Services.
Besides being necessary for current
financial interchange calculations, the
gross earnings file tabulations are also
an integral part of the data needed to
estimate future tax income and
corresponding financial interchange
amounts. These estimates are made for
internal use and to satisfy requests from
other government agencies and
interested groups. In addition, cash flow
projections of the social security
equivalent benefit account, railroad
retirement account and cost estimates
made for proposed amendments to laws
administered by the RRB are dependent
on input developed from the
information collection.
The RRB utilizes Form BA–11 or its
electronic equivalent(s) to obtain gross
earnings information from railroad
employers. Employers currently have
the option of preparing and submitting
BA–11 reports on paper, (or in like
format) on magnetic tape cartridges, File
Transfer Protocol (FTP) or secure Email. Completion is mandatory. One
response is requested of each
respondent. The RRB proposes no
changes to Form BA–11. However, the
RRB does propose the implementation
of an Internet equivalent version of
Form BA–11 that can be submitted
through the Employer Reporting
System. The Internet equivalent BA–11
will include the option to file a
‘‘negative report’’ (no employees, or no
employees with the digits ‘‘30’’).
The RRB estimates the completion
time for BA–11 information as follows:
5 hours for BA–11 responses submitted
via magnetic tape or FTP, and 30
minutes for paper, CD–ROM, secure Email, and the Internet-based ERS system
(proposed). ‘‘Negative’’ reports of gross
earnings information (no employees, or
no employees with social security
numbers ending with the digits ‘‘30’’),
filed through the ERS system are
estimated to take an average of 15
minutes to complete. The annual
respondent burden for the information
collection is estimated at 327 responses
and 164 hours.
Additional Information or Comments:
To request more information regarding
any of the information collections listed
above or to obtain copies of the
information collection justifications,
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15:37 Sep 01, 2011
Jkt 223001
forms, and/or supporting material,
please call the RRB Clearance Officer at
(312) 751–3363 or send an e-mail
request to Charles.Mierzwa@RRB.GOV.
Comments regarding the information
collections should be sent to Patricia A.
Henaghan, Railroad Retirement Board,
844 North Rush Street, Chicago, Illinois
60611–2092 or via e-mail to
Patricia.Henaghan@RRB.GOV.
Comments should be received within 60
days of this notice.
Charles Mierzwa,
Clearance Officer.
[FR Doc. 2011–22498 Filed 9–1–11; 8:45 am]
BILLING CODE 7905–01–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 17f–1, SEC File No. 270–236, OMB
Control No. 3235–0222.
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 collections of information
summarized below. The Commission
plans to submit these existing collection
of information to the Office of
Management and Budget for extension
and approval.
Rule 17f–1 (17 CFR 270.17f–1) under
the Investment Company Act of 1940
(the ‘‘Act’’) (15 U.S.C. 80a) is entitled:
‘‘Custody of Securities with Members of
National Securities Exchanges.’’ Rule
17f–1 provides that any registered
management investment company
(‘‘fund’’) that wishes to place its assets
in the custody of a national securities
exchange member may do so only under
a written contract that must be ratified
initially and approved annually by a
majority of the fund’s board of directors.
The written contract also must contain
certain specified provisions. In addition,
the rule requires an independent public
accountant to examine the fund’s assets
in the custody of the exchange member
at least three times during the fund’s
fiscal year. The rule requires the written
contract and the certificate of each
examination to be transmitted to the
Commission. The purpose of the rule is
to ensure the safekeeping of fund assets.
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54813
Commission staff estimates that each
fund makes 1 response and spends an
average of 3.5 hours annually in
complying with the rule’s requirements.
Commission staff estimates that on an
annual basis it takes: (i) 0.5 hours for the
board of directors 1 to review and ratify
the custodial contracts; and (ii) 3 hours
for the fund’s controller to assist the
fund’s independent public auditors in
verifying the fund’s assets.
Approximately 5 funds rely on the rule
annually, with a total of 5 responses.2
Thus, the total annual hour burden for
rule 17f–1 is approximately 17.5 hours.3
Funds that rely on rule 17f–1
generally use outside counsel to prepare
the custodial contract for the board’s
review and to transmit the contract to
the Commission. Commission staff
estimates the cost of outside counsel to
perform these tasks for a fund each year
is $800.4 Funds also must have an
independent public accountant verify
the fund’s assets three times each year
and prepare the certificate of
examination. Commission staff
estimates the annual cost for an
independent public accountant to
perform this service is $8000.5
Therefore, the total annual cost burden
for a fund that relies on rule 17f–1
would be approximately $8800.6 As
noted above, the staff estimates that 5
funds rely on rule 17f–1 each year, for
an estimated total annualized cost
burden of $44,000.7
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
1 Estimates of the number of hours are based on
conversations with representatives of mutual funds
that comply with the rule. The actual number of
hours may vary significantly depending on
individual fund assets. The hour burden for rule
17f–1 does not include preparing the custody
contract because that would be part of customary
and usual business practice.
2 Based on a review of Form N–17f–1 filings in
over the last three years, the Commission staff
estimates that an average of 5 funds rely on rule
17f–1 each year.
3 This estimate is based on the following
calculation: (5 respondents × 3.5 hours = 17.5
hours). The annual burden for rule 17f–1 does not
include time spent preparing Form N–17f–1. The
burden for Form N–17f–1 is included in a separate
collection of information.
4 This estimate is based on the following
calculation: (2 hours of outside counsel time × $400
= $800). The staff has estimated the average cost of
outside counsel at $400 per hour, based on
information received from funds, fund
intermediaries, and their counsel.
5 This estimate is based on information received
from fund representatives estimating the aggregate
annual cost of an independent public accountant’s
periodic verification of assets and preparation of the
certificate of examination.
6 This estimate is based on the following
calculation: ($800 + $8000 = $8800).
7 This estimate is based on the following
calculation: (5 funds × $8800 = $44,000).
E:\FR\FM\02SEN1.SGM
02SEN1
54814
Federal Register / Vol. 76, No. 171 / Friday, September 2, 2011 / Notices
a representative survey or study of the
costs of Commission rules. Compliance
with the collections of information
required by rule 17f–1 is mandatory for
funds that place their assets in the
custody of a national securities
exchange member. 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
collections of information are 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 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.
Dated: August 29, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–22572 Filed 9–1–11; 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.
erowe on DSK5CLS3C1PROD with NOTICES
Extension:
Rule 30b2–1, SEC File No. 270–213, OMB
Control No. 3235–0220.
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 the existing collection
VerDate Mar<15>2010
15:37 Sep 01, 2011
Jkt 223001
of information to the Office of
Management and Budget (‘‘OMB’’) for
extension and approval.
Rule 30b2–1 (17 CFR 270.30b2–1)
under the Investment Company Act of
1940 (15 U.S.C. 80a–1 et seq.) (the
‘‘Investment Company Act’’) requires a
registered investment company (‘‘fund’’)
to (1) File a report with the Commission
on Form N–CSR (17 CFR 249.331 and
274.128) not later than 10 days after the
transmission of any report required to
be transmitted to shareholders under
rule 30e–1 under the Investment
Company Act, and (2) file with the
Commission a copy of every periodic or
interim report or similar communication
containing financial statements that is
transmitted by or on behalf of such fund
to any class of such fund’s security
holders and that is not required to be
filed with the Commission under (1),
not later than 10 days after the
transmission to security holders. The
purpose of the collection of information
required by rule 30b2–1 is to meet the
disclosure requirements of the
Investment Company Act and
certification requirements of the
Sarbanes-Oxley Act of 2002 (Pub. L.
107–204, 116 Stat. 745 (2002)), and to
provide investors with information
necessary to evaluate an interest in the
fund.
The Commission estimates that there
are 2,520 funds, with a total of 9,250
portfolios, that are governed by the rule.
For purposes of this analysis, the
burden associated with the
requirements of rule 30b2–1 has been
included in the collection of
information requirements of rule 30e–1
and Form N–CSR, rather than the rule.
The Commission has, however,
requested a one hour burden for
administrative purposes.
The collection of information under
rule 30b2–1 is mandatory. The
information provided under rule 30b2–
1 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
PO 00000
Frm 00085
Fmt 4703
Sfmt 4703
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: August 29, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–22574 Filed 9–1–11; 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 498, SEC File No. 270–574, OMB
Control No. 3235–0648.
Notice is hereby given that pursuant
to the Paperwork Reduction Act of
1995,1 the Securities and Exchange
Commission (the ‘‘Commission’’) has
submitted to the Office of Management
and Budget a request for extension of
the previously approved collection of
information discussed below.
Rule 498 under the Securities Act of
1933 (‘‘Securities Act’’) 2 permits openend management investment companies
(‘‘funds’’) to satisfy their prospectus
delivery obligations under the Securities
Act by sending or giving key
information directly to investors in the
form of a summary prospectus
(‘‘Summary Prospectus’’) and providing
the statutory prospectus on a Web site.
Upon an investor’s request, funds are
also required to send the statutory
prospectus to the investor. In addition,
under rule 498, a fund that relies on the
rule to meet its statutory prospectus
delivery obligations must make
available, free of charge, the fund’s
current Summary Prospectus, statutory
prospectus, statement of additional
information, and most recent annual
and semi-annual reports to shareholders
at the Web site address specified in the
required Summary Prospectus legend. A
Summary Prospectus that complies with
1 44
2 17
E:\FR\FM\02SEN1.SGM
U.S.C. 3501 et seq.
CFR 230.498.
02SEN1
]]>Agencies
[Federal Register Volume 76, Number 171 (Friday, September 2, 2011)]
[Notices]
[Pages 54813-54814]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-22572]
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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-1, SEC File No. 270-236, OMB Control No. 3235-0222.
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
collections of information summarized below. The Commission plans to
submit these existing collection of information to the Office of
Management and Budget for extension and approval.
Rule 17f-1 (17 CFR 270.17f-1) under the Investment Company Act of
1940 (the ``Act'') (15 U.S.C. 80a) is entitled: ``Custody of Securities
with Members of National Securities Exchanges.'' Rule 17f-1 provides
that any registered management investment company (``fund'') that
wishes to place its assets in the custody of a national securities
exchange member may do so only under a written contract that must be
ratified initially and approved annually by a majority of the fund's
board of directors. The written contract also must contain certain
specified provisions. In addition, the rule requires an independent
public accountant to examine the fund's assets in the custody of the
exchange member at least three times during the fund's fiscal year. The
rule requires the written contract and the certificate of each
examination to be transmitted to the Commission. The purpose of the
rule is to ensure the safekeeping of fund assets.
Commission staff estimates that each fund makes 1 response and
spends an average of 3.5 hours annually in complying with the rule's
requirements. Commission staff estimates that on an annual basis it
takes: (i) 0.5 hours for the board of directors \1\ to review and
ratify the custodial contracts; and (ii) 3 hours for the fund's
controller to assist the fund's independent public auditors in
verifying the fund's assets. Approximately 5 funds rely on the rule
annually, with a total of 5 responses.\2\ Thus, the total annual hour
burden for rule 17f-1 is approximately 17.5 hours.\3\
---------------------------------------------------------------------------
\1\ Estimates of the number of hours are based on conversations
with representatives of mutual funds that comply with the rule. The
actual number of hours may vary significantly depending on
individual fund assets. The hour burden for rule 17f-1 does not
include preparing the custody contract because that would be part of
customary and usual business practice.
\2\ Based on a review of Form N-17f-1 filings in over the last
three years, the Commission staff estimates that an average of 5
funds rely on rule 17f-1 each year.
\3\ This estimate is based on the following calculation: (5
respondents x 3.5 hours = 17.5 hours). The annual burden for rule
17f-1 does not include time spent preparing Form N-17f-1. The burden
for Form N-17f-1 is included in a separate collection of
information.
---------------------------------------------------------------------------
Funds that rely on rule 17f-1 generally use outside counsel to
prepare the custodial contract for the board's review and to transmit
the contract to the Commission. Commission staff estimates the cost of
outside counsel to perform these tasks for a fund each year is $800.\4\
Funds also must have an independent public accountant verify the fund's
assets three times each year and prepare the certificate of
examination. Commission staff estimates the annual cost for an
independent public accountant to perform this service is $8000.\5\
Therefore, the total annual cost burden for a fund that relies on rule
17f-1 would be approximately $8800.\6\ As noted above, the staff
estimates that 5 funds rely on rule 17f-1 each year, for an estimated
total annualized cost burden of $44,000.\7\
---------------------------------------------------------------------------
\4\ This estimate is based on the following calculation: (2
hours of outside counsel time x $400 = $800). The staff has
estimated the average cost of outside counsel at $400 per hour,
based on information received from funds, fund intermediaries, and
their counsel.
\5\ This estimate is based on information received from fund
representatives estimating the aggregate annual cost of an
independent public accountant's periodic verification of assets and
preparation of the certificate of examination.
\6\ This estimate is based on the following calculation: ($800 +
$8000 = $8800).
\7\ This estimate is based on the following calculation: (5
funds x $8800 = $44,000).
---------------------------------------------------------------------------
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
[[Page 54814]]
a representative survey or study of the costs of Commission rules.
Compliance with the collections of information required by rule 17f-1
is mandatory for funds that place their assets in the custody of a
national securities exchange member. 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
collections of information are 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 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.
Dated: August 29, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-22572 Filed 9-1-11; 8:45 am]
BILLING CODE 8011-01-P
