Removal of International Restricted Delivery From the Competitive Product List, 64367 [2012-25728]

Download as PDF Federal Register / Vol. 77, No. 203 / Friday, October 19, 2012 / Notices FOR FURTHER INFORMATION CONTACT: Elizabeth A. Reed, 202–268–3179. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3641(c)(1), it will begin a market test of its Metro Post experimental product on or after November 12, 2012. The Postal Service has filed with the Postal Regulatory Commission a notice setting out the basis for the Postal Service’s determination that the market test is covered by 39 U.S.C. 3641 and describing the nature and scope of the market test. Documents are available at www.prc.gov, Docket No. MT2013–1. Stanley F. Mires, Attorney, Legal Policy & Legislative Advice. [FR Doc. 2012–25727 Filed 10–18–12; 8:45 am] BILLING CODE 7710–12–P POSTAL SERVICE Removal of International Restricted Delivery From the Competitive Product List Postal ServiceTM. Notice. AGENCY: ACTION: The Postal Service hereby provides notice that it has filed a request with the Postal Regulatory Commission to remove International Restricted Delivery from the competitive product list. DATES: Effective date: October 19, 2012. FOR FURTHER INFORMATION CONTACT: Caroline Brownlie, 202–268–3010. SUPPLEMENTARY INFORMATION: On October 11, 2012, the United States Postal Service® filed with the Postal Regulatory Commission the Request of the United States Postal Service to Remove International Restricted Delivery from the Competitive Product List, pursuant to 39 U.S.C. 3642. Documents pertinent to this request are available at https://www.prc.gov, Docket No. MC2013–3. SUMMARY: Stanley F. Mires, Attorney, Legal Policy & Legislative Advice. [FR Doc. 2012–25728 Filed 10–18–12; 8:45 am] BILLING CODE 7710–12–P tkelley on DSK3SPTVN1PROD with NOTICES SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. VerDate Mar<15>2010 16:06 Oct 18, 2012 Jkt 229001 Extension: Rule 38a–1, OMB Control No. 3235–0586, SEC File No. 270–522. 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 38a–1 (17 CFR 270.38a–1) under the Investment Company Act of 1940 (15 U.S.C. 80a) (‘‘Investment Company Act’’) is intended to protect investors by fostering better fund compliance with securities laws. The rule requires every registered investment company and business development company (‘‘fund’’) to: (i) Adopt and implement written policies and procedures reasonably designed to prevent violations of the federal securities laws by the fund, including procedures for oversight of compliance by each investment adviser, principal underwriter, administrator, and transfer agent of the fund; (ii) obtain the fund board of directors’ approval of those policies and procedures; (iii) annually review the adequacy of those policies and procedures and the policies and procedures of each investment adviser, principal underwriter, administrator, and transfer agent of the fund, and the effectiveness of their implementation; (iv) designate a chief compliance officer to administer the fund’s policies and procedures and prepare an annual report to the board that addresses certain specified items relating to the policies and procedures; and (v) maintain for five years the compliance policies and procedures and the chief compliance officer’s annual report to the board. The rule contains certain information collection requirements that are designed to ensure that funds establish and maintain comprehensive, written internal compliance programs. The information collections also assist the Commission’s examination staff in assessing the adequacy of funds’ compliance programs. While Rule 38a–1 requires each fund to maintain written policies and procedures, most funds are located within a fund complex. The experience of the Commission’s examination and oversight staff suggests that each fund in a complex is able to draw extensively from the fund complex’s ‘‘master’’ compliance program to assemble appropriate compliance policies and procedures. Many fund complexes PO 00000 Frm 00059 Fmt 4703 Sfmt 4703 64367 already have written policies and procedures documenting their compliance programs. Further, a fund needing to develop or revise policies and procedures on one or more topics in order to achieve a comprehensive compliance program can draw on a number of outlines and model programs available from a variety of industry representatives, commentators, and organizations. There are approximately 4,237 funds subject to Rule 38a–1. Among these funds, 146 were newly registered in the past year. These 146 funds, therefore, were required to adopt and document the policies and procedures that make up their compliance programs. Commission staff estimates that the average annual hour burden for a fund to adopt and document these policies and procedures is 105 hours. Thus, we estimate that the aggregate annual burden hours associated with the adoption and documentation requirement is 15,330 hours. In 2010, Commission staff began to estimate the hour burden associated with money market funds’ adoption of certain policies and procedures aimed at ensuring that these funds meet reasonably foreseeable shareholder redemptions (the ‘‘general liquidity requirement’’). Commission staff estimates that each newly-registered money market fund will incur a onetime additional average burden of 9 hours to document and adopt policies and procedures that will assist in complying with the general liquidity requirement. Approximately 10 money market funds were newly registered in the past year. Thus, we estimate that the additional aggregate annual burden hours associated with general liquidity requirement policies and procedures is 90 hours. All funds are required to conduct an annual review of the adequacy of their existing policies and procedures and the policies and procedures of each investment adviser, principal underwriter, administrator, and transfer agent of the fund, and the effectiveness of their implementation. In addition, each fund chief compliance officer is required to prepare an annual report that addresses the operation of the policies and procedures of the fund and the policies and procedures of each investment adviser, principal underwriter, administrator, and transfer agent of the fund, any material changes made to those policies and procedures since the date of the last report, any material changes to the policies and procedures recommended as a result of the annual review, and certain compliance matters that occurred since E:\FR\FM\19OCN1.SGM 19OCN1

Agencies

[Federal Register Volume 77, Number 203 (Friday, October 19, 2012)]
[Notices]
[Page 64367]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-25728]


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POSTAL SERVICE


Removal of International Restricted Delivery From the Competitive 
Product List

AGENCY: Postal Service\TM\.

ACTION: Notice.

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SUMMARY: The Postal Service hereby provides notice that it has filed a 
request with the Postal Regulatory Commission to remove International 
Restricted Delivery from the competitive product list.

DATES: Effective date: October 19, 2012.

FOR FURTHER INFORMATION CONTACT: Caroline Brownlie, 202-268-3010.

SUPPLEMENTARY INFORMATION: On October 11, 2012, the United States 
Postal Service[supreg] filed with the Postal Regulatory Commission the 
Request of the United States Postal Service to Remove International 
Restricted Delivery from the Competitive Product List, pursuant to 39 
U.S.C. 3642. Documents pertinent to this request are available at 
https://www.prc.gov, Docket No. MC2013-3.

Stanley F. Mires,
Attorney, Legal Policy & Legislative Advice.
[FR Doc. 2012-25728 Filed 10-18-12; 8:45 am]
BILLING CODE 7710-12-P