Proposed Collection; Comment Request, 8302-8303 [2012-3338]
Download as PDF
<![CDATA[
8302
Federal Register / Vol. 77, No. 30 / Tuesday, February 14, 2012 / Notices
annual capital costs for all unregistered
money market funds of $1.98 million.33
Commission staff further estimates
that, even absent the requirements of
rule 2a–7, money market funds would
spend at least half of the amounts
described above for record preservation
($2.0 million) and for capital costs
($0.99 million). Commission staff
concludes that the aggregate annual
costs of compliance with the rule are
$2.0 million for record preservation and
$0.99 million for capital costs.
The collections of information
required for unregistered money market
funds by rule 12d1–1 are necessary in
order for acquiring funds to be able to
obtain the benefits described above.
Notices to the Commission 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.
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 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.
February 8, 2012.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–3340 Filed 2–13–12; 8:45 am]
BILLING CODE 8011–01–P
mstockstill on DSK4VPTVN1PROD with NOTICES
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:
Form 13F, SEC File No. 270–22, OMB
Control No. 3235–0006.
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 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.
Section 13(f) 1 of the Securities
Exchange Act of 1934 2 (the ‘‘Exchange
Act’’) empowers the Commission to: (1)
Adopt rules that create a reporting and
disclosure system to collect specific
information; and (2) disseminate such
information to the public. Rule 13f–1 3
under the Exchange Act requires
institutional investment managers that
exercise investment discretion over
accounts that have in the aggregate a fair
market value of at least $100,000,000 of
certain U.S. exchange-traded equity
securities, as set forth in rule 13f–1(c),
to file quarterly reports with the
Commission on Form 13F.4
The information collection
requirements apply to institutional
investment managers that meet the $100
million reporting threshold. Section
13(f)(6) of the Exchange Act defines an
‘‘institutional investment manager’’ as
any person, other than a natural person,
investing in or buying and selling
securities for its own account, and any
person exercising investment discretion
with respect to the account of any other
person. Rule 13f–1(b) under the
Exchange Act defines ‘‘investment
discretion’’ for purposes of Form 13F
reporting.
The reporting system required by
Section 13(f) of the Exchange Act is
intended, among other things, to create
in the Commission a central repository
of historical and current data about the
investment activities of institutional
investment managers, and to improve
the body of factual data available to
regulators and the public.
The Commission staff estimates that
4,286 respondents make approximately
17,144 responses under the rule each
year. The staff estimates that on average,
Form 13F filers spend 98.8 hours/year
to prepare and submit the report. In
addition, the staff estimates that 171
1 15
33 This
estimate is based on the following
calculation: $150 billion × 0.0000132 = $1.98
million.
VerDate Mar<15>2010
21:57 Feb 13, 2012
Jkt 226001
U.S.C. 78m(f).
U.S.C. 78a et seq.
3 17 CFR 240.13f–1.
4 17 CFR 249.325.
Frm 00090
Fmt 4703
Dated: February 8, 2012.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–3339 Filed 2–13–12; 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 35d–1; SEC File No. 270–491; OMB
Control No. 3235–0548.
2 15
PO 00000
respondents file approximately 684
amendments each year. The staff
estimates that on average, Form 13F
filers spend 4 hours/year to prepare and
submit amendments to Form 13F. The
total annual burden of the rule’s
requirements for all respondents
therefore is estimated to be 424,141
hours ((4,286 filers × 98.8 hours) + (171
filers × 4 hours)).
The estimate of average burden hours
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. 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.
Written comments are invited 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 collections of
information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burdens of the collections
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.
Sfmt 4703
E:\FR\FM\14FEN1.SGM
14FEN1
mstockstill on DSK4VPTVN1PROD with NOTICES
Federal Register / Vol. 77, No. 30 / Tuesday, February 14, 2012 / Notices
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 35d–1 (17 CFR 270.35d–1) under
the Investment Company Act of 1940
(15 U.S.C. 80a–1 et seq.) defines as
‘‘materially deceptive and misleading’’
for purposes of Section 35(d), among
other things, a name suggesting that a
registered investment company or series
thereof (a ‘‘fund’’) focuses its
investments in a particular type of
investment or investments, in
investments in a particular industry or
group of industries, or in investments in
a particular country or geographic
region, unless, among other things, the
fund adopts a certain investment policy.
Rule 35d–1 further requires either that
the investment policy is fundamental or
that the fund has adopted a policy to
provide its shareholders with at least 60
days prior notice of any change in the
investment policy (‘‘notice to
shareholders’’). The rule’s notice to
shareholders provision is intended to
ensure that when shareholders purchase
shares in a fund based, at least in part,
on its name, and with the expectation
that it will follow the investment policy
suggested by that name, they will have
sufficient time to decide whether to
redeem their shares in the event that the
fund decides to pursue a different
investment policy.
The Commission estimates that there
are approximately 8,800 open-end and
closed-end funds that have names that
are covered by the rule. The
Commission estimates that of these
8,800 funds, approximately 29 will
provide prior notice to shareholders
pursuant to a policy adopted in
accordance with this rule per year. The
Commission estimates that the annual
burden associated with the notice to
shareholders requirement of the rule is
20 hours per response, for an annual
total of 580 hours per year.
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
representative survey or study of the
costs of Commission rules and forms.
The collection of information under rule
35d–1 is mandatory. The information
provided under rule 35d–1 will not be
kept confidential. An agency may not
conduct or sponsor, and a person is not
required to respond to, a collection of
VerDate Mar<15>2010
21:57 Feb 13, 2012
Jkt 226001
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 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: February 8, 2012.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–3338 Filed 2–13–12; 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 17g–1; SEC File No. 270–208; OMB
Control No. 3235–0213.
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 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 17g–1 (17 CFR 270.17g–1) under
the Investment Company Act of 1940
(the ‘‘Act’’) (15 U.S.C. 80a–17(g))
governs the fidelity bonding of officers
and employees of registered
management investment companies
(‘‘funds’’) and their advisers. Rule 17g–
1 requires, in part, the following:
PO 00000
Frm 00091
Fmt 4703
Sfmt 4703
8303
Independent Directors’ Approval
The form and amount of the fidelity
bond must be approved by a majority of
the fund’s independent directors at least
once annually, and the amount of any
premium paid by the fund for any ‘‘joint
insured bond,’’ covering multiple funds
or certain affiliates, must be approved
by a majority of the fund’s independent
directors.
Terms and Provisions of the Bond
The amount of the bond may not be
less than the minimum amounts of
coverage set forth in a schedule based
on the fund’s gross assets; the bond
must provide that it shall not be
cancelled, terminated, or modified
except upon 60-days written notice to
the affected party and to the
Commission; in the case of a joint
insured bond, 60-days written notice
must also be given to each fund covered
by the bond; a joint insured bond must
provide that the fidelity insurance
company will provide all funds covered
by the bond with a copy of the
agreement, a copy of any claim on the
bond, and notification of the terms of
the settlement of any claim prior to
execution of that settlement; and a fund
that is insured by a joint bond must
enter into an agreement with all other
parties insured by the joint bond
regarding recovery under the bond.
Filings With the Commission
Upon the execution of a fidelity bond
or any amendment thereto, a fund must
file with the Commission within 10
days a copy of the executed bond or any
amendment to the bond, the
independent directors’ resolution
approving the bond, and a statement as
to the period for which premiums have
been paid on the bond. In the case of a
joint insured bond, a fund must also file
(i) a statement showing the amount the
fund would have been required to
maintain under the rule if it were
insured under a single insured bond and
(ii) the agreement between the fund and
all other insured parties regarding
recovery under the bond. A fund must
also notify the Commission in writing
within five days of any claim or
settlement on a claim under the fidelity
bond.
Notices to Directors
A fund must notify by registered mail
each member of its board of directors of
(i) any cancellation, termination, or
modification of the fidelity bond at least
45 days prior to the effective date, and
(ii) the filing or settlement of any claim
under the fidelity bond when
notification is filed with the
Commission.
E:\FR\FM\14FEN1.SGM
14FEN1
]]>Agencies
[Federal Register Volume 77, Number 30 (Tuesday, February 14, 2012)]
[Notices]
[Pages 8302-8303]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-3338]
-----------------------------------------------------------------------
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 35d-1; SEC File No. 270-491; OMB Control No. 3235-0548.
[[Page 8303]]
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 35d-1 (17 CFR 270.35d-1) under the Investment Company Act of
1940 (15 U.S.C. 80a-1 et seq.) defines as ``materially deceptive and
misleading'' for purposes of Section 35(d), among other things, a name
suggesting that a registered investment company or series thereof (a
``fund'') focuses its investments in a particular type of investment or
investments, in investments in a particular industry or group of
industries, or in investments in a particular country or geographic
region, unless, among other things, the fund adopts a certain
investment policy. Rule 35d-1 further requires either that the
investment policy is fundamental or that the fund has adopted a policy
to provide its shareholders with at least 60 days prior notice of any
change in the investment policy (``notice to shareholders''). The
rule's notice to shareholders provision is intended to ensure that when
shareholders purchase shares in a fund based, at least in part, on its
name, and with the expectation that it will follow the investment
policy suggested by that name, they will have sufficient time to decide
whether to redeem their shares in the event that the fund decides to
pursue a different investment policy.
The Commission estimates that there are approximately 8,800 open-
end and closed-end funds that have names that are covered by the rule.
The Commission estimates that of these 8,800 funds, approximately 29
will provide prior notice to shareholders pursuant to a policy adopted
in accordance with this rule per year. The Commission estimates that
the annual burden associated with the notice to shareholders
requirement of the rule is 20 hours per response, for an annual total
of 580 hours per year.
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 representative survey or study of the costs of Commission rules
and forms. The collection of information under rule 35d-1 is mandatory.
The information provided under rule 35d-1 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 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 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: February 8, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-3338 Filed 2-13-12; 8:45 am]
BILLING CODE 8011-01-P
