Proposed Collection; Comment Request, 27102-27103 [2012-11003]
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27102
Federal Register / Vol. 77, No. 89 / Tuesday, May 8, 2012 / Notices
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 PavlikSimon, 6432 General Green Way,
Alexandria, VA 22312; or send an email
to: PRA_Mailbox@sec.gov.
Dated: May 2, 2012.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–11005 Filed 5–7–12; 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.
srobinson on DSK4SPTVN1PROD with NOTICES
Extension:
Rule 206(4)–3; SEC File No. 270–218; OMB
Control No. 3235–0242.
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 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 206(4)–3 (17 CFR 275.206(4)–3)
under the Investment Advisers Act of
1940, which is entitled ‘‘Cash Payments
for Client Solicitations,’’ provides
restrictions on cash payments for client
solicitations. The rule requires that an
adviser pay all solicitors’ fees pursuant
to a written agreement. When an adviser
will provide only impersonal advisory
services to the prospective client, the
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17:33 May 07, 2012
Jkt 226001
rule imposes no disclosure
requirements. When the solicitor is
affiliated with the adviser and the
adviser will provide individualized
advisory services to the prospective
client, the solicitor must, at the time of
the solicitation or referral, indicate to
the prospective client that he is
affiliated with the adviser. When the
solicitor is not affiliated with the
adviser and the adviser will provide
individualized advisory services to the
prospective client, the solicitor must, at
the time of the solicitation or referral,
provide the prospective client with a
copy of the adviser’s brochure and a
disclosure document containing
information specified in rule 206(4)–3.
Amendments to rule 206(4)–3, adopted
in 2010 in connection with rule 206(4)–
5, specify that solicitation activities
involving a government entity, as
defined in rule 206(4)–5, are subject to
the additional limitations of rule
206(4)–5. The information rule 206(4)–
3 requires is necessary to inform
advisory clients about the nature of the
solicitor’s financial interest in the
recommendation so the prospective
clients may consider the solicitor’s
potential bias, and to protect clients
against solicitation activities being
carried out in a manner inconsistent
with the adviser’s fiduciary duty to
clients. Rule 206(4)–3 is applicable to
all Commission-registered investment
advisers. The Commission believes that
approximately 4,159 of these advisers
have cash referral fee arrangements. The
rule requires approximately 7.04 burden
hours per year per adviser and results in
a total of approximately 29,279 total
burden hours (7.04 × 4,159) for all
advisers.
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. The Commission may not
conduct or sponsor a collection of
information unless it displays a
currently valid OMB number. No person
shall be subject to any penalty for failing
to comply with a collection of
PO 00000
Frm 00090
Fmt 4703
Sfmt 4703
information subject to the PRA that does
not display a valid OMB number.
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: May 2, 2012.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–11004 Filed 5–7–12; 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 30e–2, SEC File No. 270–437, OMB
Control No. 3235–0494.
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) (‘‘Paperwork
Reduction Act’’), 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 30e–2 (17 CFR 270.30e–2) under
the Investment Company Act of 1940
(15 U.S.C. 80a–1 et seq.) (‘‘Investment
Company Act’’) requires registered unit
investment trusts (‘‘UITs’’) that invest
substantially all of their assets in shares
of a management investment company
(‘‘fund’’) to send their unitholders
annual and semiannual reports
containing financial information on the
underlying company. Specifically, rule
30e–2 requires that the report contain
all the applicable information and
financial statements or their equivalent,
required by rule 30e-1 under the
Investment Company Act (17 CFR
270.30e–1) to be included in reports of
the underlying fund for the same fiscal
period. Rule 30e–1 requires that the
underlying fund’s report contain, among
other things, the information that is
required to be included in such reports
by the fund’s registration statement form
under the Investment Company Act.
The purpose of this requirement is to
apprise current shareholders of the
E:\FR\FM\08MYN1.SGM
08MYN1
srobinson on DSK4SPTVN1PROD with NOTICES
Federal Register / Vol. 77, No. 89 / Tuesday, May 8, 2012 / Notices
operational and financial condition of
the UIT. Absent the requirement to
disclose all material information in
reports, investors would be unable to
obtain accurate information upon which
to base investment decisions and
consumer confidence in the securities
industry might be adversely affected.
Requiring the submission of these
reports to the Commission permits us to
verify compliance with securities law
requirements.
Rule 30e–2, however, permits, under
certain conditions, delivery of a single
shareholder report to investors who
share an address (‘‘householding’’).
Specifically, rule 30e–2 permits
householding of annual and semiannual reports by UITs to satisfy the
delivery requirements of rule 30e–2 if,
in addition to the other conditions set
forth in the rule, the UIT has obtained
from each applicable investor written or
implied consent to the householding of
shareholder reports at such address. The
rule requires UITs that wish to
household shareholder reports with
implied consent to send a notice to each
applicable investor stating that the
investors in the household will receive
one report in the future unless the
investors provide contrary instructions.
In addition, at least once a year, UITs
relying on the rule for householding
must explain to investors who have
provided written or implied consent
how they can revoke their consent. The
purpose of the notice and annual
explanation requirements associated
with the householding provisions of the
rule is to ensure that investors who wish
to receive individual copies of
shareholder reports are able to do so.
The Commission estimates that the
annual burden associated with rule 30e–
2 is 121 hours per respondent, including
an estimated 20 hours associated with
the notice requirement for householding
and an estimated 1 hour associated with
the explanation of the right to revoke
consent to householding. The
Commission estimates that there are
currently approximately 760 UITs.
Therefore, the Commission estimates
that the total hour burden is
approximately 91,960 hours. In addition
to the burden hours, the Commission
estimates that the annual cost of
contracting for outside services
associated with rule 30e–2 is $20,000
per respondent, for a total annual cost
of approximately $15,200,000.
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
representative survey or study of the
costs of Commission rules and forms.
The collection of information under rule
VerDate Mar<15>2010
17:33 May 07, 2012
Jkt 226001
30e–2 is mandatory. The information
provided under rule 30e–2 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 PavlikSimon, 6432 General Green Way,
Alexandria, VA 22312; or send an email
to: PRA_Mailbox@sec.gov.
Dated: May 2, 2012.
Kevin M. O’Neill,
Deputy Secretary.
27103
listed for the Closed Meeting in a closed
session.
The subject matter of the Closed
Meeting scheduled for Thursday, May
10, 2012 will be:
Institution and settlement of injunctive
actions;
Institution and settlement of
administrative proceedings;
Consideration of amici participation;
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:May 3, 2012.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2012–11109 Filed 5–4–12; 11:15 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting
FEDERAL REGISTER CITATION OF PREVIOUS
ANNOUNCEMENT: [77 FR 25521, April 30,
[FR Doc. 2012–11003 Filed 5–7–12; 8:45 am]
2012].
BILLING CODE 8011–01–P
STATUS:
PLACE:
SECURITIES AND EXCHANGE
COMMISSION
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, May 10, 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
Frm 00091
Fmt 4703
Sfmt 4703
DC
DATE AND TIME OF PREVIOUSLY ANNOUNCED
MEETING: May 3, 2012 at 2:00 p.m.
Additional Item.
The following matter will also be
considered during the 2:00 p.m. Closed
Meeting scheduled for Thursday, May 3,
2012: A personnel matter.
The General Counsel of the
Commission, or his designee, has
certified that, in his opinion, one or
more of the exemptions as set forth in
5 U.S.C. 552b(c)(2) and (6) and 17 CFR
200.402(a)(2) and (6), permit
consideration of the scheduled matter at
the Closed Meeting.
Commissioner Aguilar, as duty
officer, voted to consider the item listed
for the Closed Meeting in closed
session, and determined that no earlier
notice thereof was possible.
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.
CHANGE IN THE MEETING:
Sunshine Act Meeting
PO 00000
Closed Meeting.
100 F Street NE., Washington,
E:\FR\FM\08MYN1.SGM
08MYN1
]]>Agencies
[Federal Register Volume 77, Number 89 (Tuesday, May 8, 2012)]
[Notices]
[Pages 27102-27103]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-11003]
-----------------------------------------------------------------------
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 30e-2, SEC File No. 270-437, OMB Control No. 3235-0494.
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.) (``Paperwork Reduction Act''), 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 30e-2 (17 CFR 270.30e-2) under the Investment Company Act of
1940 (15 U.S.C. 80a-1 et seq.) (``Investment Company Act'') requires
registered unit investment trusts (``UITs'') that invest substantially
all of their assets in shares of a management investment company
(``fund'') to send their unitholders annual and semiannual reports
containing financial information on the underlying company.
Specifically, rule 30e-2 requires that the report contain all the
applicable information and financial statements or their equivalent,
required by rule 30e-1 under the Investment Company Act (17 CFR
270.30e-1) to be included in reports of the underlying fund for the
same fiscal period. Rule 30e-1 requires that the underlying fund's
report contain, among other things, the information that is required to
be included in such reports by the fund's registration statement form
under the Investment Company Act. The purpose of this requirement is to
apprise current shareholders of the
[[Page 27103]]
operational and financial condition of the UIT. Absent the requirement
to disclose all material information in reports, investors would be
unable to obtain accurate information upon which to base investment
decisions and consumer confidence in the securities industry might be
adversely affected. Requiring the submission of these reports to the
Commission permits us to verify compliance with securities law
requirements.
Rule 30e-2, however, permits, under certain conditions, delivery of
a single shareholder report to investors who share an address
(``householding''). Specifically, rule 30e-2 permits householding of
annual and semi-annual reports by UITs to satisfy the delivery
requirements of rule 30e-2 if, in addition to the other conditions set
forth in the rule, the UIT has obtained from each applicable investor
written or implied consent to the householding of shareholder reports
at such address. The rule requires UITs that wish to household
shareholder reports with implied consent to send a notice to each
applicable investor stating that the investors in the household will
receive one report in the future unless the investors provide contrary
instructions. In addition, at least once a year, UITs relying on the
rule for householding must explain to investors who have provided
written or implied consent how they can revoke their consent. The
purpose of the notice and annual explanation requirements associated
with the householding provisions of the rule is to ensure that
investors who wish to receive individual copies of shareholder reports
are able to do so.
The Commission estimates that the annual burden associated with
rule 30e-2 is 121 hours per respondent, including an estimated 20 hours
associated with the notice requirement for householding and an
estimated 1 hour associated with the explanation of the right to revoke
consent to householding. The Commission estimates that there are
currently approximately 760 UITs. Therefore, the Commission estimates
that the total hour burden is approximately 91,960 hours. In addition
to the burden hours, the Commission estimates that the annual cost of
contracting for outside services associated with rule 30e-2 is $20,000
per respondent, for a total annual cost of approximately $15,200,000.
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 representative survey or study of the costs of Commission rules
and forms. The collection of information under rule 30e-2 is mandatory.
The information provided under rule 30e-2 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: May 2, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-11003 Filed 5-7-12; 8:45 am]
BILLING CODE 8011-01-P
