Submission for OMB Review; Comment Request, 64368-64369 [2012-25739]
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tkelley on DSK3SPTVN1PROD with NOTICES
64368
Federal Register / Vol. 77, No. 203 / Friday, October 19, 2012 / Notices
the date of the last report. The staff
estimates that each fund spends 49
hours per year, on average, conducting
the annual review and preparing the
annual report to the board of directors.
Thus, we estimate that the annual
aggregate burden hours associated with
the annual review and annual report
requirement is 207,613 hours.
Finally, the staff estimates that each
fund spends 6 hours annually, on
average, maintaining the records
required by proposed Rule 38a–1. Thus,
the aggregate annual burden hours
associated with the recordkeeping
requirement is 25,422 hours.
In total, the staff estimates that the
aggregate annual information collection
burden of Rule 38a–1 is 248,455 hours.
The estimate of 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. Complying
with this collection of information
requirement is mandatory. 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.
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: October 15, 2012.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–25738 Filed 10–18–12; 8:45 am]
BILLING CODE 8011–01–P
VerDate Mar<15>2010
16:06 Oct 18, 2012
Jkt 229001
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.
Extension:
Form N–MFP, OMB Control No. 3235–
0657, SEC File No. 270–604.
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.
Section 30(b) of the Investment
Company Act of 1940 [15 U.S.C. 80a–
30(b)] (‘‘Act’’) provides that ‘‘[e]very
registered investment company shall file
with the Commission * * * such
information, documents, and reports
(other than financial statements), as the
Commission may require to keep
reasonably current the information and
documents contained in the registration
statement of such company * * *.’’
Rule 30b1–7 under the Act [17 CFR
270.30b1–7], entitled ‘‘Monthly Report
for Money Market Funds,’’ provides that
every registered investment company, or
series thereof, that is regulated as a
money market fund under rule 2a–7 [17
CFR 270.2a–7] must file with the
Commission a monthly report of
portfolio holdings on Form N–MFP [17
CFR 274.201] no later than the fifth
business day of each month. Form N–
MFP sets forth the specific disclosure
items that money market funds must
provide. The report must be filed
electronically using the Commission’s
electronic filing system (‘‘EDGAR’’) in
eXtensible Markup Language (‘‘XML’’)
format.
Certain provisions of the rule and
form contain ‘‘collection of
information’’ requirements. We estimate
that 684 money market funds are
required by rule 30b1–7 to file, on a
monthly basis, a complete report on
Form N–MFP disclosing certain
information regarding the fund and its
portfolio holdings. We further estimate
that an additional ten new money
market funds will file reports on Form
N–MFP each year. For purposes of this
Paperwork Reduction Act analysis, the
burden associated with the
requirements of rule 30b1–7 is included
PO 00000
Frm 00060
Fmt 4703
Sfmt 4703
in the collection of information
requirements of Form N–MFP, rather
than the rule. Based on conversations
with industry participants, we estimate
that money market funds prepare and
file their reports on Form N–MFP by
either (1) licensing a software solution
and preparing and filing the report in
house, or (2) retaining a service provider
to provide data aggregation and
validation services as part of the
preparation and filing of reports on
Form N–MFP on behalf of the fund.
We estimate that 35% of money
market funds (239 funds) license a
software solution and file reports on
Form N–MFP in house; we further
estimate that each fund that files reports
on Form N–MFP in house requires an
average of approximately 42 burden
hours to compile (including review of
the information), tag, and electronically
file the Form N–MFP for the first time
and an average of approximately 8
burden hours for subsequent filings.
Therefore, we estimate the per fund
average annual hour burden is 96 hours
for existing funds and 130 hours for new
money market funds. Based on an
estimate of 239 existing fund filers and
4 new fund filers each year, we estimate
that filing reports on Form N–MFP in
house takes 23,464 hours per year.
We estimate that 65% of money
market funds (445 funds) retain the
services of a third party to provide data
aggregation and validation services as
part of the preparation and filing of
reports on Form N–MFP on the fund’s
behalf; we further estimate that each
fund requires an average of
approximately 21 burden hours to
compile and review the information
with the service provider prior to
electronically filing the report for the
first time and an average of
approximately 4 burden hours for
subsequent filings. Therefore, we
estimate the per fund average annual
hour burden is 48 hours for existing
funds and 65 hours for new money
market funds. Based on an estimate of
445 existing fund filers and 6 new fund
filers each year, we estimate that filing
reports on Form N–MFP using a service
provider takes 21,750 hours per year. In
sum, we estimate that filing reports on
Form N–MFP imposes a total annual
hour burden of 45,214 on all money
market funds.
In addition to the costs associated
with the hours burdens discussed
above, money market funds incur other
external costs. Based on discussions
with industry participants, we estimate
that money market funds that file
reports on Form N–MFP in house
license a third-party software solution to
assist in filing their reports at an average
E:\FR\FM\19OCN1.SGM
19OCN1
Federal Register / Vol. 77, No. 203 / Friday, October 19, 2012 / Notices
cost of $3,360 per fund per year. In
addition, we estimate that money
market funds that use a service provider
to prepare and file reports on Form N–
MFP pay an average fee of $8,000 per
fund per year. In sum, we estimate that
all money market funds incur on
average, in the aggregate, external
annual costs of $4,424,480.1
The estimate of burden hours and
costs is made solely for the purposes of
the Paperwork Reduction Act. The
estimates are not derived from a
comprehensive or even a representative
survey or study of the costs of
Commission rules. The collection of
information under Form N–MFP is
mandatory. The information provided
by the form 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 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.
SECURITIES AND EXCHANGE
COMMISSION
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting
[Release No. 34–68053; File No. SR–
NASDAQ–2012–118]
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 Tuesday, October 23, 2012 at 3:00
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, and determined that no earlier
notice thereof was possible.
The subject matter of the Closed
Meeting scheduled for Tuesday, October
23, 2012 will be: a litigation matter. 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.
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing of Proposed Rule Change To
Modify Certain Disclosure
Requirements To Require Listed
Companies To Publicly Describe the
Specific Basis and Concern Identified
by Nasdaq When a Company Does Not
Meet a Listing Standard and Give
Nasdaq the Authority To Make Such
Public Announcement When a Listed
Company Fails To Do so
Dated: October 17, 2012.
Elizabeth M. Murphy,
Secretary.
5250. Obligations for Companies Listed
on The Nasdaq Stock Market
(a) No change.
[FR Doc. 2012–25937 Filed 10–17–12; 4:15 pm]
(b) Obligation To Make Public
Disclosure
(1) No change.
BILLING CODE 8011–01–P
Dated: October 15, 2012.
Kevin M. O’Neill,
Deputy Secretary.
tkelley on DSK3SPTVN1PROD with NOTICES
BILLING CODE 8011–01–P
1 This estimate is based on the following
calculation: (243 money market funds (239 existing
funds + 4 new funds) that file reports on Form N–
MFP in house × $3,360 per fund, per year) + (451
money market funds (445 existing funds + 6 new
funds) that file reports on Form N–MFP using a
service provider × $8,000 per fund, per year) =
$4,424,480.
16:06 Oct 18, 2012
Jkt 229001
PO 00000
October 15, 2012.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on October
3, 2012, The NASDAQ Stock Market
LLC (‘‘Nasdaq’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by Nasdaq. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of the Substance
of the Proposed Rule Change
Nasdaq proposes to modify certain
disclosure requirements surrounding a
company’s non-compliance with the
listing rules. Nasdaq will implement the
proposed rule upon approval.
The text of the proposed rule change
is below. Proposed new language is in
italics; proposed deletions are in
brackets.3
(2) Disclosure of Notification of
Deficiency
As set forth in Rule 5810(b) and IM–
5810–1, a Company that receives a
notification of deficiency from Nasdaq
is required to make a public
announcement by filing a Form 8–K,
where required by SEC rules, or by
issuing a press release disclosing receipt
[FR Doc. 2012–25739 Filed 10–18–12; 8:45 am]
VerDate Mar<15>2010
64369
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 Changes are marked to the rule text that appears
in the electronic manual of Nasdaq found at https://
nasdaqomx.cchwallstreet.com.
2 17
Frm 00061
Fmt 4703
Sfmt 4703
E:\FR\FM\19OCN1.SGM
19OCN1
]]>Agencies
[Federal Register Volume 77, Number 203 (Friday, October 19, 2012)]
[Notices]
[Pages 64368-64369]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-25739]
-----------------------------------------------------------------------
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.
Extension:
Form N-MFP, OMB Control No. 3235-0657, SEC File No. 270-604.
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.
Section 30(b) of the Investment Company Act of 1940 [15 U.S.C. 80a-
30(b)] (``Act'') provides that ``[e]very registered investment company
shall file with the Commission * * * such information, documents, and
reports (other than financial statements), as the Commission may
require to keep reasonably current the information and documents
contained in the registration statement of such company * * *.'' Rule
30b1-7 under the Act [17 CFR 270.30b1-7], entitled ``Monthly Report for
Money Market Funds,'' provides that every registered investment
company, or series thereof, that is regulated as a money market fund
under rule 2a-7 [17 CFR 270.2a-7] must file with the Commission a
monthly report of portfolio holdings on Form N-MFP [17 CFR 274.201] no
later than the fifth business day of each month. Form N-MFP sets forth
the specific disclosure items that money market funds must provide. The
report must be filed electronically using the Commission's electronic
filing system (``EDGAR'') in eXtensible Markup Language (``XML'')
format.
Certain provisions of the rule and form contain ``collection of
information'' requirements. We estimate that 684 money market funds are
required by rule 30b1-7 to file, on a monthly basis, a complete report
on Form N-MFP disclosing certain information regarding the fund and its
portfolio holdings. We further estimate that an additional ten new
money market funds will file reports on Form N-MFP each year. For
purposes of this Paperwork Reduction Act analysis, the burden
associated with the requirements of rule 30b1-7 is included in the
collection of information requirements of Form N-MFP, rather than the
rule. Based on conversations with industry participants, we estimate
that money market funds prepare and file their reports on Form N-MFP by
either (1) licensing a software solution and preparing and filing the
report in house, or (2) retaining a service provider to provide data
aggregation and validation services as part of the preparation and
filing of reports on Form N-MFP on behalf of the fund.
We estimate that 35% of money market funds (239 funds) license a
software solution and file reports on Form N-MFP in house; we further
estimate that each fund that files reports on Form N-MFP in house
requires an average of approximately 42 burden hours to compile
(including review of the information), tag, and electronically file the
Form N-MFP for the first time and an average of approximately 8 burden
hours for subsequent filings. Therefore, we estimate the per fund
average annual hour burden is 96 hours for existing funds and 130 hours
for new money market funds. Based on an estimate of 239 existing fund
filers and 4 new fund filers each year, we estimate that filing reports
on Form N-MFP in house takes 23,464 hours per year.
We estimate that 65% of money market funds (445 funds) retain the
services of a third party to provide data aggregation and validation
services as part of the preparation and filing of reports on Form N-MFP
on the fund's behalf; we further estimate that each fund requires an
average of approximately 21 burden hours to compile and review the
information with the service provider prior to electronically filing
the report for the first time and an average of approximately 4 burden
hours for subsequent filings. Therefore, we estimate the per fund
average annual hour burden is 48 hours for existing funds and 65 hours
for new money market funds. Based on an estimate of 445 existing fund
filers and 6 new fund filers each year, we estimate that filing reports
on Form N-MFP using a service provider takes 21,750 hours per year. In
sum, we estimate that filing reports on Form N-MFP imposes a total
annual hour burden of 45,214 on all money market funds.
In addition to the costs associated with the hours burdens
discussed above, money market funds incur other external costs. Based
on discussions with industry participants, we estimate that money
market funds that file reports on Form N-MFP in house license a third-
party software solution to assist in filing their reports at an average
[[Page 64369]]
cost of $3,360 per fund per year. In addition, we estimate that money
market funds that use a service provider to prepare and file reports on
Form N-MFP pay an average fee of $8,000 per fund per year. In sum, we
estimate that all money market funds incur on average, in the
aggregate, external annual costs of $4,424,480.\1\
---------------------------------------------------------------------------
\1\ This estimate is based on the following calculation: (243
money market funds (239 existing funds + 4 new funds) that file
reports on Form N-MFP in house x $3,360 per fund, per year) + (451
money market funds (445 existing funds + 6 new funds) that file
reports on Form N-MFP using a service provider x $8,000 per fund,
per year) = $4,424,480.
---------------------------------------------------------------------------
The estimate of burden hours and costs is made solely for the
purposes of the Paperwork Reduction Act. The estimates are not derived
from a comprehensive or even a representative survey or study of the
costs of Commission rules. The collection of information under Form N-
MFP is mandatory. The information provided by the form 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 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: October 15, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-25739 Filed 10-18-12; 8:45 am]
BILLING CODE 8011-01-P
