Sunshine Act Meeting Notice, 8304 [2012-3478]
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8304
Federal Register / Vol. 77, No. 30 / Tuesday, February 14, 2012 / Notices
Rule 17g–1’s independent directors’
annual review requirements, fidelity
bond content requirements, joint bond
agreement requirement and the required
notices to directors seek to ensure the
safety of fund assets against losses due
to the conduct of persons who may
obtain access to those assets. These
requirements also seek to facilitate
oversight of a fund’s fidelity bond. The
rule’s required filings with the
Commission are designed to assist the
Commission in monitoring funds’
compliance with the fidelity bond
requirements.
Based on conversations with
representatives in the fund industry, the
Commission staff estimates that for each
of the estimated 3479 active funds,1 the
average annual paperwork burden
associated with rule 17g–1’s
requirements is two hours, one hour
each for a compliance attorney and the
board of directors as a whole. The time
spent by compliance attorney includes
time spent filing reports with the
Commission for any fidelity losses (if
any) as well as paperwork associated
with any notices to directors, and
managing any updates to the bond and
the joint agreement (if one exists). The
time spent by the board of directors as
a whole includes any time spent
initially establishing the bond, as well
as time spent on annual updates and
approvals. The Commission staff
therefore estimates the total ongoing
paperwork burden hours per year for all
funds required by rule 17g–1 to be 6958
hours (3479 funds × 2 hours = 6958
hours).
These estimates of average burden
hours are made solely for the purposes
of the Paperwork Reduction Act. These
estimates are not derived from a
comprehensive or even a representative
survey or study of Commission rules.
The collection of information required
by rule 17g–1 is mandatory and 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 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 of the collection of
information; (c) ways to enhance the
quality, utility and clarity of the
1 Based on statistics compiled by Commission
staff, we estimate that there are approximately 3479
funds that must comply with the collections of
information under rule 17g–1 and have made a
filing within the last 12 months.
VerDate Mar<15>2010
21:57 Feb 13, 2012
Jkt 226001
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.
February 8, 2012.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–3337 Filed 2–13–12; 8:45 am]
BILLING CODE 8011–01–P
added, deleted or postponed, please
contact: The Office of the Secretary at
(202) 551–5400.
Dated: February 9, 2012.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–3478 Filed 2–10–12; 11:15 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–66348; File No. SR–CBOE–
2011–122]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Order Approving
Proposed Rule Change, as Modified by
Amendment No. 1, Related to Trading
of FLEX Options
SECURITIES AND EXCHANGE
COMMISSION
February 7, 2012.
Sunshine Act Meeting Notice
On December 12, 2011, the Chicago
Board Options Exchange, Incorporated
(‘‘Exchange’’ or ‘‘CBOE’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’), pursuant to Section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘Act’’),1 and Rule 19b–4
thereunder,2 a proposed rule change to
amend rules pertaining to the electronic
trading of Flexible Exchange Options
(‘‘FLEX Options’’) and to eliminate
certain European-Capped style
settlement and currency provisions with
the FLEX rules that pertain to both
electronic and open outcry trading. The
proposed rule change was published for
comment in the Federal Register on
December 29, 2011.3 On February 7,
2012, the Exchange filed an Amendment
No. 1 to the proposed rule change.4 The
Commission received one comment
letter regarding the proposal.5 This
order approves the proposed rule
change, as modified by Amendment No.
1.
Notice is hereby given, pursuant to
the provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission will hold a Closed Meeting
on Thursday, February 16, 2012 at 2:00
p.m.
Commissioners, Counsel to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the Closed Meeting. Certain
staff members who have an interest in
the matters also may be present.
The General Counsel of the
Commission, or his designee, has
certified that, in his opinion, one or
more of the exemptions set forth in 5
U.S.C. 552b(c)(3), (5), (7), 9(B) and (10)
and 17 CFR 200.402(a)(3), (5), (7), 9(ii)
and (10), permit consideration of the
scheduled matters at the Closed
Meeting.
Commissioner Aguilar, as duty
officer, voted to consider the items
listed for the Closed Meeting in a closed
session.
The subject matter of the Closed
Meeting scheduled for Thursday,
February 16, 2012 will be:
Formal order of investigation;
Institution and settlement of
injunctive actions;
Institution and settlement of
administrative proceedings; and
Other matters relating to enforcement
proceedings.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
For further information and to
ascertain what, if any, matters have been
PO 00000
Frm 00092
Fmt 4703
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I. Introduction
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 66035
(December 22, 2011), 76 FR 82017 (‘‘Notice’’).
4 Amendment No. 1 amended the proposed rule
change to provide an implementation plan of the
proposed rule changes. The Exchange intends to
begin implementation by no later than March 30,
2012, with the specific implementation schedule to
be announced via Regulatory Circular. Since
Amendment No. 1 does not alter the substance of
the proposal, it is not subject to notice and
comment.
5 See letter from Todd Weingart, Spot On
Brokerage Services, Division of Trading Block,
William O’Keefe, Spot On Brokerage Services,
Division of Trading Block, and Steve Stepanek, The
SJS Group, Inc., to Elizabeth M. Murphy, Secretary,
Commission, dated January 20, 2012.
2 17
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[Federal Register Volume 77, Number 30 (Tuesday, February 14, 2012)]
[Notices]
[Page 8304]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-3478]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Sunshine Act Meeting Notice
Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold a Closed Meeting on Thursday,
February 16, 2012 at 2:00 p.m.
Commissioners, Counsel to the Commissioners, the Secretary to the
Commission, and recording secretaries will attend the Closed Meeting.
Certain staff members who have an interest in the matters also may be
present.
The General Counsel of the Commission, or his designee, has
certified that, in his opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR
200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the
scheduled matters at the Closed Meeting.
Commissioner Aguilar, as duty officer, voted to consider the items
listed for the Closed Meeting in a closed session.
The subject matter of the Closed Meeting scheduled for Thursday,
February 16, 2012 will be:
Formal order of investigation;
Institution and settlement of injunctive actions;
Institution and settlement of administrative proceedings; and
Other matters relating to enforcement proceedings.
At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
For further information and to ascertain what, if any, matters have
been added, deleted or postponed, please contact: The Office of the
Secretary at (202) 551-5400.
Dated: February 9, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-3478 Filed 2-10-12; 11:15 am]
BILLING CODE 8011-01-P
