Submission for OMB Review; Comment Request, 66880-66881 [2012-27132]

Download as PDF 66880 Federal Register / Vol. 77, No. 216 / Wednesday, November 7, 2012 / Notices correct; and (3) the applicant’s agreement to sign the application by proxy. The information collected as part of the AA–3 interview process will be the same irrespective of whether the application is signed by a pen and ink ‘‘wet’’ signature or by attestation. The only difference will be the method of signature. In addition, consistent with Department of Treasury guidelines, the RRB proposes revisions to Forms AA–3 and AA–3cert to provide claimants a debit card payment option. Other nonburden-impacting editorial and formatting changes are proposed. One response is requested of each respondent. Completion of the forms is required to obtain a benefit. Previous Requests for Comments: The RRB has already published the initial 60-day notice (77 FR 1093 on January 9, 2012) required by 44 U.S.C. 3506(c)(2). That request elicited no comments. Information Collection Request (ICR) Title: Application for Spouse Annuity Under the Railroad Retirement Act. OMB Control Number: 3220–0042. Form(s) submitted: AA–3, AA–3cert, and AA–3sum. Type of request: Revision of a currently approved collection. Affected public: Individuals or Households. Abstract: The Railroad Retirement Act provides for the payment of annuities to spouses of railroad retirement annuitants who meet the requirements under the Act. The application obtains information supporting the claim for benefits based on being a spouse of an annuitant. The information is used for determining entitlement to and amount of the annuity applied for. Changes proposed: The RRB proposes revisions to Forms AA–3 and AA–3cert to provide claimants with a debit card payment option. The RRB also proposes the creation of Form AA–3sum, Application Summary, to be produced at the end of the AA–3 interview process for claimants who choose the alternate signing method called ‘‘Attestation.’’ Other non-burdenimpacting editorial and formatting changes are proposed. The burden estimate for the ICR is as follows: Annual responses Form No. Time (minutes) Burden (hours) AA–3 (without assistance) ........................................................................................................... AA–3cert (with assistance) .......................................................................................................... AA–3sum (with assistance) ......................................................................................................... 250 3,700 7,100 58 30 29 242 1,850 3,432 Total ...................................................................................................................................... 11,050 ........................ 5,524 Additional Information or Comments: Copies of the forms and supporting documents can be obtained from Dana Hickman at (312) 751–4981 or Dana.Hickman@RRB.GOV. Comments regarding the information collection should be addressed to Charles Mierzwa, Railroad Retirement Board, 844 North Rush Street, Chicago, Illinois 60611–2092 or Charles.Mierzwa@RRB.GOV and to the OMB Desk Officer for the RRB, Fax: 202–395–6974, Email address: OIRA_Submission@omb.eop.gov. Charles Mierzwa, Chief of Information Resources Management. [FR Doc. 2012–27114 Filed 11–6–12; 8:45 am] BILLING CODE 7905–01–P SECURITIES AND EXCHANGE COMMISSION pmangrum on DSK3VPTVN1PROD with NOTICES 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: Rule 17f–1(c) and Form X–17F–1A; SEC File No. 270–29, OMB Control No. 3235– 0037. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 VerDate Mar<15>2010 15:43 Nov 06, 2012 Jkt 229001 (44 U.S.C. 3501 et seq.) the Securities and Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget a request for approval of extension of the existing collection of information provided for in the following rule: Rule 17f–1(c) (17 CFR 240.17f–1(c) and Form X–17F–1A (17 CFR 249.100) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). Rule 17f–1(c) requires approximately 26,000 entities in the securities industry to report lost, stolen, missing, or counterfeit securities certificates to the Commission or its designee, to a registered transfer agent for the issue, and, when criminal activity is suspected, to the Federal Bureau of Investigation. Such entities are required to use Form X–17F–1A to make such reports. Filing these reports fulfills a statutory requirement that reporting institutions report and inquire about missing, lost, counterfeit, or stolen securities. Since these reports are compiled in a central database, the rule facilitates reporting institutions to access the database that stores information for the Lost and Stolen Securities Program. We estimate that 26,000 reporting institutions will report that securities certificates are either missing, lost, counterfeit, or stolen annually and that each reporting institution will submit this report 50 times each year. The staff estimates that the average amount of PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 time necessary to comply with Rule 17f–1(c) and Form X17F–1A is five minutes per submission. The total burden is 108,333 hours annually for the entire industry (26,000 times 50 times 5 divided by 60). Rule 17f–1(c) is a reporting rule and does not specify a retention period. The rule requires an incident-based reporting requirement by the reporting institutions when securities certificates are discovered to be missing, lost, counterfeit, or stolen. Registering under Rule 17f–1(c) is mandatory to obtain the benefit of a central database that stores information about missing, lost, counterfeit, or stolen securities for the Lost and Stolen Securities Program. Reporting institutions required to register under Rule 17f–1(c) will not be kept confidential; however, the Lost and Stolen Securities Program database will be kept confidential. The Commission may not conduct or sponsor a collection of information unless it displays a currently valid control number. No person shall be subject to any penalty for failing to comply with a collection of information subject to the PRA that does not display a valid Office of Management and Budget (OMB) control number. Background documentation for this information collection may be viewed at the following Web site: www.reginfo.gov. Comments should be directed to: (i) Desk Officer for the Securities and Exchange Commission, E:\FR\FM\07NON1.SGM 07NON1 Federal Register / Vol. 77, No. 216 / Wednesday, November 7, 2012 / Notices Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or by sending an email to: shagufta_ahmed@omb.eop.gov; and (ii) 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. Comments must be submitted within 30 days of this notice. Dated: October 29, 2012. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–27132 Filed 11–6–12; 8:45 am] BILLING CODE 8011–01–P 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. pmangrum on DSK3VPTVN1PROD with NOTICES Extension: Rule 23c–3 and Form N–23c–3; SEC File No. 270–373, OMB Control No. 3235– 0422. 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’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. Rule 23c–3 (17 CFR 270.23c–3) under the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) permits a registered closed-end investment company (‘‘closed-end fund’’ or ‘‘fund’’) that meets certain requirements to repurchase common stock of which it is the issuer from shareholders at periodic intervals, pursuant to repurchase offers made to all holders of the stock. The rule enables these funds to offer their shareholders a limited ability to resell their shares in a manner that previously was available only to open-end investment company shareholders. To protect shareholders, a closed-end fund that relies on rule 23c–3 must send shareholders a notification that contains specified information each time the fund makes a repurchase offer (on a quarterly, semi-annual, or annual basis, or, for certain funds, on a discretionary basis not more often than every two VerDate Mar<15>2010 15:43 Nov 06, 2012 Jkt 229001 years). The fund also must file copies of the shareholder notification with the Commission (electronically through the Commission’s Electronic Data Gathering, Analysis, and Retrieval System (‘‘EDGAR’’)) on Form N–23c–3, a filing that provides certain information about the fund and the type of offer the fund is making.1 The fund must describe in its annual report to shareholders the fund’s policy concerning repurchase offers and the results of any repurchase offers made during the reporting period. The fund’s board of directors must adopt written procedures designed to ensure that the fund’s investment portfolio is sufficiently liquid to meet its repurchase obligations and other obligations under the rule. The board periodically must review the composition of the fund’s portfolio and change the liquidity procedures as necessary. The fund also must file copies of advertisements and other sales literature with the Commission as if it were an open-end investment company subject to section 24 of the Investment Company Act (15 U.S.C. 80a–24) and the rules that implement section 24. Rule 24b–3 under the Investment Company Act (17 CFR 270.24b–3), however, exempts the fund from that requirement if the materials are filed instead with the Financial Industry Regulatory Authority (‘‘FINRA’’). The requirement that the fund send a notification to shareholders of each offer is intended to ensure that a fund provides material information to shareholders about the terms of each offer. The requirement that copies be sent to the Commission is intended to enable the Commission to monitor the fund’s compliance with the notification requirement. The requirement that the shareholder notification be attached to Form N–23c–3 is intended to ensure that the fund provides basic information necessary for the Commission to process the notification and to monitor the fund’s use of repurchase offers. The requirement that the fund describe its current policy on repurchase offers and the results of recent offers in the annual shareholder report is intended to provide shareholders current information about the fund’s repurchase policies and its recent experience. The requirement that the board approve and review written procedures designed to maintain portfolio liquidity is intended to ensure that the fund has enough cash 1 Form N–23c–3, entitled ‘‘Notification of Repurchase Offer Pursuant to Rule 23c–3,’’ requires the fund to state its registration number, its full name and address, the date of the accompanying shareholder notification, and the type of offer being made (periodic, discretionary, or both). PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 66881 or liquid securities to meet its repurchase obligations, and that written procedures are available for review by shareholders and examination by the Commission. The requirement that the fund file advertisements and sales literature as if it were an open-end fund is intended to facilitate the review of these materials by the Commission or FINRA to prevent incomplete, inaccurate, or misleading disclosure about the special characteristics of a closed-end fund that makes periodic repurchase offers. Based on staff experience, the Commission staff estimates that 20 funds make use of rule 23c–3 annually, including two funds that are relying upon rule 23c–3 for the first time. The Commission staff estimates that on average a fund spends 89 hours annually in complying with the requirements of the rule and Form N– 23c–3, with funds relying upon rule 23c–3 for the first time incurring an additional one-time burden of 28 hours. The Commission therefore estimates the total annual burden of the rule’s and form’s paperwork requirements to be 1,836 hours. In addition to the burden hours, the Commission estimates that the average yearly cost to each fund that relies on rule 23c–3 to print and mail repurchase offers to shareholders is approximately $29,966.50. The Commission estimates total annual cost is therefore approximately $599,330. Estimates of the average burden hours and costs 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. Compliance with the collection of information requirements of the rule and form is mandatory only for those funds that rely on the rule in order to repurchase shares of the fund. The information provided to the Commission on Form N–23c–3 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. The public may view the background documentation for this information collection at the following Web site: www.reginfo.gov. Comments should be directed to: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503, or by sending an email to: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Chief Information E:\FR\FM\07NON1.SGM 07NON1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 77, Number 216 (Wednesday, November 7, 2012)]
[Notices]
[Pages 66880-66881]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-27132]


=======================================================================
-----------------------------------------------------------------------

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:
    Rule 17f-1(c) and Form X-17F-1A; SEC File No. 270-29, OMB 
Control No. 3235-0037.

    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'') has submitted to the Office of Management and Budget a 
request for approval of extension of the existing collection of 
information provided for in the following rule: Rule 17f-1(c) (17 CFR 
240.17f-1(c) and Form X-17F-1A (17 CFR 249.100) under the Securities 
Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange Act'').
    Rule 17f-1(c) requires approximately 26,000 entities in the 
securities industry to report lost, stolen, missing, or counterfeit 
securities certificates to the Commission or its designee, to a 
registered transfer agent for the issue, and, when criminal activity is 
suspected, to the Federal Bureau of Investigation. Such entities are 
required to use Form X-17F-1A to make such reports. Filing these 
reports fulfills a statutory requirement that reporting institutions 
report and inquire about missing, lost, counterfeit, or stolen 
securities. Since these reports are compiled in a central database, the 
rule facilitates reporting institutions to access the database that 
stores information for the Lost and Stolen Securities Program.
    We estimate that 26,000 reporting institutions will report that 
securities certificates are either missing, lost, counterfeit, or 
stolen annually and that each reporting institution will submit this 
report 50 times each year. The staff estimates that the average amount 
of time necessary to comply with Rule 17f-1(c) and Form X17F-1A is five 
minutes per submission. The total burden is 108,333 hours annually for 
the entire industry (26,000 times 50 times 5 divided by 60).
    Rule 17f-1(c) is a reporting rule and does not specify a retention 
period. The rule requires an incident-based reporting requirement by 
the reporting institutions when securities certificates are discovered 
to be missing, lost, counterfeit, or stolen. Registering under Rule 
17f-1(c) is mandatory to obtain the benefit of a central database that 
stores information about missing, lost, counterfeit, or stolen 
securities for the Lost and Stolen Securities Program. Reporting 
institutions required to register under Rule 17f-1(c) will not be kept 
confidential; however, the Lost and Stolen Securities Program database 
will be kept confidential.
    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid control number. No 
person shall be subject to any penalty for failing to comply with a 
collection of information subject to the PRA that does not display a 
valid Office of Management and Budget (OMB) control number.
    Background documentation for this information collection may be 
viewed at the following Web site: www.reginfo.gov. Comments should be 
directed to: (i) Desk Officer for the Securities and Exchange 
Commission,

[[Page 66881]]

Office of Information and Regulatory Affairs, Office of Management and 
Budget, Room 10102, New Executive Office Building, Washington, DC 20503 
or by sending an email to: shagufta_ahmed@omb.eop.gov; and (ii) 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. Comments must be 
submitted within 30 days of this notice.

    Dated: October 29, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-27132 Filed 11-6-12; 8:45 am]
BILLING CODE 8011-01-P

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