Proposed Collection; Comment Request, 54814-54815 [2011-22576]
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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
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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
Federal Register / Vol. 76, No. 171 / Friday, September 2, 2011 / Notices
erowe on DSK5CLS3C1PROD with NOTICES
rule 498 is deemed to be a prospectus
that is authorized under Section 10(b) of
the Securities Act 3 and Section 24(g) of
the Investment Company Act of 1940.4
The purpose of rule 498 is to enable
a fund to provide investors with a
Summary Prospectus containing key
information necessary to evaluate an
investment in the fund. Unlike many
other Federal information collections,
which are primarily for the use and
benefit of the collecting agency, this
information collection is primarily for
the use and benefit of investors. The
information filed with the Commission
also permits the verification of
compliance with securities law
requirements and assures the public
availability and dissemination of the
information.
The current approved annual internal
hour burden for filing and updating
Summary Prospectuses and posting the
required disclosure documents on a
Web site pursuant to rule 498 is 63,014
hours. Based on staff review of
Summary Prospectuses filed with the
Commission, the Commission now
estimates that approximately 6,250
portfolios are using a Summary
Prospectus. Therefore, the Commission
estimates that the total annual internal
burden for filing and updating Summary
Prospectuses and posting the required
disclosure documents to a Web site
pursuant to rule 498 will therefore be
approximately 9,375 hours, representing
a decrease of 53,639 hours.
The current approved total annual
cost burden is $106,200,000 or
approximately $15,200 per portfolio.
Adjusting the total annual cost burden
per portfolio for the effects of inflation,
the Commission now estimates the total
annual cost burden per portfolio to be
$15,900, for a total annual cost burden
of approximately $99,375,000. This
represents a decrease in the total annual
cost burden of approximately
$6,825,000.
Estimates of average burden hours are
made solely for the purposes of the
Paperwork Reduction Act, and are not
derived from a comprehensive or even
a representative survey or study of the
costs of Commission rules and forms.
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.
3 15 U.S.C. 77j. A ‘‘prospectus,’’ as defined by the
Securities Act, is any prospectus, notice, circular,
advertisement, letter, or communication, written or
by radio or television, which offers any security for
sale or confirms the sale of any security, with
certain exceptions. 15 U.S.C. 77b(a)(10).
4 15 U.S.C. 80a–24(g).
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15:37 Sep 01, 2011
Jkt 223001
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the
proposed performance of the functions
of the agency, including whether
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 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. 2011–22576 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 34b–1, SEC File No. 270–305, OMB
Control No. 3235–0346.
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 for extension
and approval.
Rule 34b–1 under the Investment
Company Act (17 CFR 270.34b–1)
governs sales material that accompanies
or follows the delivery of a statutory
prospectus (‘‘sales literature’’). Rule
34b–1 deems to be materially
misleading any investment company
(‘‘fund’’) sales literature required to be
filed with the Securities and Exchange
Commission (‘‘Commission’’) by Section
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Frm 00086
Fmt 4703
Sfmt 9990
54815
24(b) of the Investment Company Act
(15 U.S.C. 80a–24(b)) that includes
performance data, unless the sales
literature also includes the appropriate
uniformly computed data and the
legend disclosure required in
investment company advertisements by
rule 482 under the Securities Act of
1933 (17 CFR 230.482). Requiring the
inclusion of such standardized
performance data in sales literature is
designed to prevent misleading
performance claims by funds and to
enable investors to make meaningful
comparisons among funds.
The Commission estimates that on
average 3,525 respondents file
approximately 12,433 responses with
the Commission that include the
information required by rule 34b–1 each
year. The burden from rule 34b–1 is
estimated to be 2.41 hours per response.
The total annual burden hours for rule
34b–1 is 29,964 hours per year in the
aggregate (12,443 responses x 2.41 hours
per response).
The collection of information under
rule 34b–1 is mandatory. The
information provided under rule 34b–1
is not kept confidential. The
Commission 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
proposed performance of the functions
of the agency, including whether
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 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. 2011–22575 Filed 9–1–11; 8:45 am]
BILLING CODE 8011–01–P
E:\FR\FM\02SEN1.SGM
02SEN1
]]>Agencies
[Federal Register Volume 76, Number 171 (Friday, September 2, 2011)]
[Notices]
[Pages 54814-54815]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-22576]
-----------------------------------------------------------------------
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.
---------------------------------------------------------------------------
\1\ 44 U.S.C. 3501 et seq.
---------------------------------------------------------------------------
Rule 498 under the Securities Act of 1933 (``Securities Act'') \2\
permits open-end 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
[[Page 54815]]
rule 498 is deemed to be a prospectus that is authorized under Section
10(b) of the Securities Act \3\ and Section 24(g) of the Investment
Company Act of 1940.\4\
---------------------------------------------------------------------------
\2\ 17 CFR 230.498.
\3\ 15 U.S.C. 77j. A ``prospectus,'' as defined by the
Securities Act, is any prospectus, notice, circular, advertisement,
letter, or communication, written or by radio or television, which
offers any security for sale or confirms the sale of any security,
with certain exceptions. 15 U.S.C. 77b(a)(10).
\4\ 15 U.S.C. 80a-24(g).
---------------------------------------------------------------------------
The purpose of rule 498 is to enable a fund to provide investors
with a Summary Prospectus containing key information necessary to
evaluate an investment in the fund. Unlike many other Federal
information collections, which are primarily for the use and benefit of
the collecting agency, this information collection is primarily for the
use and benefit of investors. The information filed with the Commission
also permits the verification of compliance with securities law
requirements and assures the public availability and dissemination of
the information.
The current approved annual internal hour burden for filing and
updating Summary Prospectuses and posting the required disclosure
documents on a Web site pursuant to rule 498 is 63,014 hours. Based on
staff review of Summary Prospectuses filed with the Commission, the
Commission now estimates that approximately 6,250 portfolios are using
a Summary Prospectus. Therefore, the Commission estimates that the
total annual internal burden for filing and updating Summary
Prospectuses and posting the required disclosure documents to a Web
site pursuant to rule 498 will therefore be approximately 9,375 hours,
representing a decrease of 53,639 hours.
The current approved total annual cost burden is $106,200,000 or
approximately $15,200 per portfolio. Adjusting the total annual cost
burden per portfolio for the effects of inflation, the Commission now
estimates the total annual cost burden per portfolio to be $15,900, for
a total annual cost burden of approximately $99,375,000. This
represents a decrease in the total annual cost burden of approximately
$6,825,000.
Estimates of average burden hours are made solely for the purposes
of the Paperwork Reduction Act, and are not derived from a
comprehensive or even a representative survey or study of the costs of
Commission rules and forms. 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 proposed performance of
the functions of the agency, including whether 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 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. 2011-22576 Filed 9-1-11; 8:45 am]
BILLING CODE 8011-01-P
