Submission for OMB Review; Comment Request, 71458-71460 [2012-28945]
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71458
Federal Register / Vol. 77, No. 231 / Friday, November 30, 2012 / Notices
ATTACHMENT 1—GENERAL TARGET SCHEDULE FOR PROCESSING AND RESOLVING REQUESTS FOR ACCESS TO SENSITIVE
UNCLASSIFIED NON-SAFEGUARDS INFORMATION IN THIS PROCEEDING—Continued
Day
Event/activity
A + 60 ......
>A + 60 ....
(Answer receipt +7) Petitioner/Intervenor reply to answers.
Decision on contention admission.
filed in Docket No. CP2010–36.2 Id. at
2–3.
[FR Doc. 2012–29000 Filed 11–29–12; 8:45 am]
BILLING CODE 7590–01–P
II. Contents of Filing
POSTAL REGULATORY COMMISSION
[Docket No. CP2013–20; Order No. 1553]
New International Mail Contract
Postal Regulatory Commission.
Notice.
AGENCY:
ACTION:
The Commission is noticing a
recently-filed Postal Service request to
enter into an additional Global Reseller
Expedited Package Contracts 1. This
document invites public comments on
the request and addresses several
related procedural steps.
DATES: Comments are due: December 5,
2012.
ADDRESSES: Submit comments
electronically via the Commission’s
Filing Online system at https://
www.prc.gov. Those who cannot submit
comments electronically should contact
the person identified in the FOR FURTHER
INFORMATION CONTACT section by
telephone for advice on filing
alternatives.
SUMMARY:
FOR FURTHER INFORMATION CONTACT:
Stephen L. Sharfman, General Counsel,
at 202–789–6820.
SUPPLEMENTARY INFORMATION:
Table of Contents
I. Introduction
II. Contents of Filing
III. Notice of Proceeding
IV. Ordering Paragraphs
wreier-aviles on DSK5TPTVN1PROD with NOTICES
I. Introduction
Background. On November 21, 2012,
the Postal Service filed a notice
pursuant to 39 CFR 3015.5 announcing
that it has entered into an additional
Global Reseller Expedited Package
(GREP) contract (Contracts 1).1 It seeks
to have the instant Contract included
within the existing GREP Contracts 1
product on grounds of functional
equivalence to the baseline agreement
1 Notice
of United States Postal Service of Filing
a Functionally Equivalent Global Reseller
Expedited Package Negotiated Service Agreement
and Application For Non-Public Treatment of
Materials Filed Under Seal, November 21, 2012
(Notice).
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15:17 Nov 29, 2012
Jkt 229001
The instant Contract. The Postal
Service identifies the instant Contract as
a successor to the GREP contract filed in
Docket No. CP2012–21. Id. at 3. It states
that the Docket No. CP2012–21 contract
will terminate the day prior to the
effective date established for the instant
Contract. Id.
The Postal Service filed the following
material in conjunction with its Notice,
along with public (redacted) versions of
supporting financial information:
• Attachment 1—a redacted copy of
the instant contract;
• Attachment 2—a certified statement
required by 39 CFR 3015.5(c)(2);
• Attachment 3—a redacted copy of
Governors’ Decision No. 10–1; and
• Attachment 4—an application for
non-public treatment of materials filed
under seal.
Functional equivalency. The Postal
Service asserts that the instant Contract
is substantially similar to the baseline
agreement filed in Docket No. CP2010–
36 because it shares similar cost and
market characteristics and meets criteria
in Governors’ Decision No. 10–1
concerning attributable costs. Id. at 3–4.
The Postal Service further asserts that
the functional terms of the two contracts
are the same and the benefits are
comparable. Id. at 4. It states that prices
offered under the contracts may differ
due to postage commitments and when
the agreement is signed (due to updated
costing information), but asserts that
these differences do not alter the
functional equivalency of the contracts.
Id. The Postal Service also identifies
differences between the terms of the two
contracts, but asserts that these
differences do not affect the
fundamental service being offering or
the fundamental structure of the
contract.3 Id. at 5–7.
2 See also Docket No. MC2010–21 (based on
Governors’ Decision No. 10–1), Order No. 445,
April 22, 2010, Order Concerning Global Reseller
Expedited Package Contracts Negotiated Service
Agreement.
3 Differences include numerous revisions to
existing Articles and five new Articles. Id. at 7.
PO 00000
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III. Notice of Proceeding
The Commission establishes Docket
No. CP2013–20 for consideration of
matters raised by the Postal Service’s
Notice. Interested persons may submit
comments on whether the instant
contract is consistent with the
requirements of 39 CFR 3015.5 and the
policies of 39 U.S.C. 3632 and 3633.
Comments are due no later than
December 5, 2012. The public portions
of this filing can be accessed via the
Commission’s Web site, https://
www.prc.gov. Information on how to
obtain access to material filed under
seal appears in 39 CFR 3007.50.
The Commission appoints James F.
Callow to serve as Public Representative
in the captioned proceeding.
IV. Ordering Paragraphs
It is ordered:
1. The Commission establishes Docket
No. CP2013–20 for consideration of
matters raised by the Postal Service’s
Notice.
2. Comments by interested persons in
this proceeding are due no later than
December 5, 2012.
3. Pursuant to 39 U.S.C. 505, James F.
Callow is appointed to serve as an
officer of the Commission (Public
Representative) to represent the
interests of the general public in this
proceeding.
4. The Secretary shall arrange for
publication of this order in the Federal
Register.
By the Commission.
Shoshana M. Grove,
Secretary.
[FR Doc. 2012–28954 Filed 11–29–12; 8:45 am]
BILLING CODE 7710–FW–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.
Extension: Rule 3a–4.
OMB Control No. 3235–0459, SEC File No.
270–401.
E:\FR\FM\30NON1.SGM
30NON1
Federal Register / Vol. 77, No. 231 / Friday, November 30, 2012 / Notices
wreier-aviles on DSK5TPTVN1PROD with NOTICES
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 350l–3520), 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 3a–4 (17 CFR 270.3a–4) under
the Investment Company Act of 1940
(15 U.S.C. 80a) (‘‘Investment Company
Act’’ or ‘‘Act’’) provides a nonexclusive
safe harbor from the definition of
investment company under the Act for
certain investment advisory programs.
These programs, which include ‘‘wrap
fee’’ and ‘‘mutual fund wrap’’ programs,
generally are designed to provide
professional portfolio management
services to clients who are investing less
than the minimum usually required by
portfolio managers but more than the
minimum account size of most mutual
funds. Under wrap fee and similar
programs, a client’s account is typically
managed on a discretionary basis
according to pre-selected investment
objectives. Clients with similar
investment objectives often receive the
same investment advice and may hold
the same or substantially similar
securities in their accounts. Some of
these investment advisory programs
may meet the definition of investment
company under the Act because of the
similarity of account management.
In 1997, the Commission adopted rule
3a–4, which clarifies that programs
organized and operated in a manner
consistent with the conditions of rule
3a–4 are not required to register under
the Investment Company Act or comply
with the Act’s requirements.1 These
programs differ from investment
companies because, among other things,
they provide individualized investment
advice to the client. The rule’s
provisions have the effect of ensuring
that clients in a program relying on the
rule receive advice tailored to the
client’s needs.
Rule 3a–4 provides that each client’s
account must be managed on the basis
of the client’s financial situation and
investment objectives and consistent
with any reasonable restrictions the
client imposes on managing the
account. When an account is opened,
the sponsor 2 (or its designee) must
1 Status of Investment Advisory Programs Under
the Investment Company Act of 1940, Investment
Company Act Release No. 22579 (Mar. 24, 1997) (62
FR 15098 (Mar. 31, 1997)) (‘‘Adopting Release’’). In
addition, there are no registration requirements
under section 5 of the Securities Act of 1933 for
these programs. See 17 CFR 270.3a–4, introductory
note.
2 For purposes of rule 3a–4, the term ‘‘sponsor’’
refers to any person who receives compensation for
VerDate Mar<15>2010
15:17 Nov 29, 2012
Jkt 229001
obtain information from each client
regarding the client’s financial situation
and investment objectives, and must
allow the client an opportunity to
impose reasonable restrictions on
managing the account.3 In addition, the
sponsor (or its designee) must contact
the client annually to determine
whether the client’s financial situation
or investment objectives have changed
and whether the client wishes to impose
any reasonable restrictions on the
management of the account or
reasonably modify existing restrictions.
The sponsor (or its designee) must also
notify the client quarterly, in writing, to
contact the sponsor (or its designee)
regarding changes to the client’s
financial situation, investment
objectives, or restrictions on the
account’s management.4
The program must provide each client
with a quarterly statement describing all
activity in the client’s account during
the previous quarter. The sponsor and
personnel of the client’s account
manager who know about the client’s
account and its management must be
reasonably available to consult with the
client. Each client also must retain
certain indicia of ownership of all
securities and funds in the account.
The requirement that the sponsor (or
its designee) obtain information about
each new client’s financial situation and
investment objectives when their
account is opened is designed to ensure
that the investment adviser has
sufficient information regarding the
client’s unique needs and goals to
enable the portfolio manager to provide
individualized investment advice. The
sponsor is required to contact clients
annually and provide them with
quarterly notices to ensure that the
sponsor has current information about
the client’s financial status, investment
objectives, and restrictions on
management of the account.
Maintaining current information enables
the portfolio manager to evaluate each
client’s portfolio in light of the client’s
changing needs and circumstances. The
requirement that clients be provided
with quarterly statements of account
activity is designed to ensure each client
sponsoring, organizing or administering the
program, or for selecting, or providing advice to
clients regarding the selection of, persons
responsible for managing the client’s account in the
program.
3 Clients specifically must be allowed to designate
securities that should not be purchased for the
account or that should be sold if held in the
account. The rule does not require that a client be
able to require particular securities be purchased for
the account.
4 The sponsor also must provide a means by
which clients can contact the sponsor (or its
designee).
PO 00000
Frm 00064
Fmt 4703
Sfmt 4703
71459
receives an individualized report, which
the Commission believes is a key
element of individualized advisory
services.
The Commission staff estimates that
11,291,005 clients participate each year
in investment advisory programs relying
on rule 3a–4. Of that number, the staff
estimates that 903,280 are new clients
and 10,387,725 are continuing clients.
The staff estimates that each year
investment advisory program sponsors
staff engage in 1.3 hours per new client
and 1 hour per continuing client to
prepare, conduct and/or review
interviews regarding the client’s
financial situation and investment
objectives as required by the rule.
Furthermore, the staff estimates that
each year investment advisory program
staff spends 1 hour per client to prepare
and mail quarterly client account
statements, including notices to update
information. Based on the estimates
above, the Commission estimates that
the total annual burden of the rule’s
paperwork requirements is 22,852,994
hours.
The total annual hour burden of
22,852,994 hours represents an increase
of 17,245,466 hours from the prior
estimate of 5,607,528 hours. This
increase principally results from an
increase in the estimated number of
clients, which was due to a change in
the way Commission staff made its
estimates. The change in annual burden
hours also reflects changes in the
estimated burden hours associated with
several collections of information
required under the rule (certain burden
estimates increased and certain burden
estimates decreased). These changes in
estimated burden hours per collection of
information result from changes in
burden hours reported by
representatives of investment advisers
that rely on rule 3a–4 that Commission
staff surveyed.
The estimate of average 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 and
forms.
Compliance with the collection of
information requirements of the rule is
necessary to obtain the benefit of relying
on the rule’s safe harbor. Nevertheless,
rule 3a–4 is a nonexclusive safe harbor,
and a program that does not comply
with the rule’s collection of information
requirements does not necessarily meet
the Investment Company Act’s
definition of investment company. An
agency may not conduct or sponsor, and
a person is not required to respond to,
a collection of information unless it
E:\FR\FM\30NON1.SGM
30NON1
71460
Federal Register / Vol. 77, No. 231 / Friday, November 30, 2012 / Notices
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, 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 to OMB within 30
days of this notice.
Dated: November 26, 2012.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–28945 Filed 11–29–12; 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.
wreier-aviles on DSK5TPTVN1PROD with NOTICES
Extension: Rule 17Ad–16; OMB Control No.
3235–0413, SEC File No. 270–363.
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) (‘‘PRA’’), the
Securities and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the existing collection of information
provided for in Rule 17Ad–16 (17 CFR
240.17Ad–16) under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.). The Commission plans to submit
this existing collection of information to
the Office of Management and Budget
(‘‘OMB’’) for extension and approval.
Rule 17Ad–16 requires a registered
transfer agent to provide written notice
to the appropriate qualified registered
securities depository when assuming or
terminating transfer agent services on
behalf of an issuer or when changing its
name or address. In addition, transfer
agents that provide such notice shall
maintain such notice for a period of at
least two years in an easily accessible
place. This rule addresses the problem
of certificate transfer delays caused by
transfer requests that are directed to the
VerDate Mar<15>2010
15:17 Nov 29, 2012
Jkt 229001
wrong transfer agent or the wrong
address.
We estimate that the transfer agent
industry submits 3,700 Rule 17Ad–16
notices to appropriate qualified
registered securities depositories. The
staff estimates that the average amount
of time necessary to create and submit
each notice is approximately 15 minutes
per notice. Accordingly, the estimated
total industry burden is 925 hours per
year (15 minutes multiplied by 3,700
notices filed annually).
Because the information needed by
transfer agents to properly notify the
appropriate registered securities
depository is readily available to them
and the report is simple and
straightforward, the cost is relatively
minimal. The average internal
compliance cost to prepare and send a
notice is approximately $7.50 (15
minutes at $30 per hour). This yields an
industry-wide internal compliance cost
estimate of $27,750 (3,700 notices
multiplied by $7.50 per notice).
The Commission may not conduct or
sponsor a collection of information
unless it displays a currently valid OMB
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 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
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimates of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information to be 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 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: November 26, 2012.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–28947 Filed 11–29–12; 8:45 am]
BILLING CODE 8011–01–P
PO 00000
Frm 00065
Fmt 4703
Sfmt 4703
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–Q. OMB Control No. 3235–0578,
SEC File No. 270–519.
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 a
request for extension of the previously
approved collection of information
discussed below.
Form N–Q (17 CFR 249.332 and
274.130) is a combined reporting form
that is used for reports of registered
management investment companies
(‘‘funds’’), other than small business
investment companies registered on
Form N–5, under Section 30(b) of the
Investment Company Act of 1940 (15
U.S.C. 80a–1 et seq.) (‘‘Investment
Company Act’’) and Section 13(a) or
15(d) of the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.). Pursuant to
Rule 30b1–5 under the Investment
Company Act, funds are required to file
with the Commission quarterly reports
on Form N–Q not more than 60 days
after the close of the first and third
quarters of each fiscal year containing
their complete portfolio holdings.
Form N–Q contains collection of
information requirements. The
respondents to this information
collection are management investment
companies subject to Rule 30b1–5 under
the Investment Company Act. We
estimate that there are 10,453 portfolios
required to file reports on Form N–Q.
Based on conversations with industry
representatives, we estimate that it takes
approximately 21 hours per portfolio to
prepare Form N–Q. Accordingly, we
estimate that the total annual burden
estimated associated with Form N–Q is
219,513 hours (21 hours per portfolio ×
10,453 portfolios) per year.
The estimates of average burden hours
are made solely for the purposes of the
Paperwork Reduction Act of 1995 (44
U.S.C. 3501 et seq.) and are not derived
from a comprehensive or even
representative survey or study of the
cost of Commission rules and forms.
The collection of information under
Form N–Q is mandatory. The
information provided by the form is not
kept confidential. An agency may not
E:\FR\FM\30NON1.SGM
30NON1
Agencies
[Federal Register Volume 77, Number 231 (Friday, November 30, 2012)]
[Notices]
[Pages 71458-71460]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-28945]
=======================================================================
-----------------------------------------------------------------------
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 3a-4.
OMB Control No. 3235-0459, SEC File No. 270-401.
[[Page 71459]]
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 350l-3520), 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 3a-4 (17 CFR 270.3a-4) under the Investment Company Act of
1940 (15 U.S.C. 80a) (``Investment Company Act'' or ``Act'') provides a
nonexclusive safe harbor from the definition of investment company
under the Act for certain investment advisory programs. These programs,
which include ``wrap fee'' and ``mutual fund wrap'' programs, generally
are designed to provide professional portfolio management services to
clients who are investing less than the minimum usually required by
portfolio managers but more than the minimum account size of most
mutual funds. Under wrap fee and similar programs, a client's account
is typically managed on a discretionary basis according to pre-selected
investment objectives. Clients with similar investment objectives often
receive the same investment advice and may hold the same or
substantially similar securities in their accounts. Some of these
investment advisory programs may meet the definition of investment
company under the Act because of the similarity of account management.
In 1997, the Commission adopted rule 3a-4, which clarifies that
programs organized and operated in a manner consistent with the
conditions of rule 3a-4 are not required to register under the
Investment Company Act or comply with the Act's requirements.\1\ These
programs differ from investment companies because, among other things,
they provide individualized investment advice to the client. The rule's
provisions have the effect of ensuring that clients in a program
relying on the rule receive advice tailored to the client's needs.
---------------------------------------------------------------------------
\1\ Status of Investment Advisory Programs Under the Investment
Company Act of 1940, Investment Company Act Release No. 22579 (Mar.
24, 1997) (62 FR 15098 (Mar. 31, 1997)) (``Adopting Release''). In
addition, there are no registration requirements under section 5 of
the Securities Act of 1933 for these programs. See 17 CFR 270.3a-4,
introductory note.
---------------------------------------------------------------------------
Rule 3a-4 provides that each client's account must be managed on
the basis of the client's financial situation and investment objectives
and consistent with any reasonable restrictions the client imposes on
managing the account. When an account is opened, the sponsor \2\ (or
its designee) must obtain information from each client regarding the
client's financial situation and investment objectives, and must allow
the client an opportunity to impose reasonable restrictions on managing
the account.\3\ In addition, the sponsor (or its designee) must contact
the client annually to determine whether the client's financial
situation or investment objectives have changed and whether the client
wishes to impose any reasonable restrictions on the management of the
account or reasonably modify existing restrictions. The sponsor (or its
designee) must also notify the client quarterly, in writing, to contact
the sponsor (or its designee) regarding changes to the client's
financial situation, investment objectives, or restrictions on the
account's management.\4\
---------------------------------------------------------------------------
\2\ For purposes of rule 3a-4, the term ``sponsor'' refers to
any person who receives compensation for sponsoring, organizing or
administering the program, or for selecting, or providing advice to
clients regarding the selection of, persons responsible for managing
the client's account in the program.
\3\ Clients specifically must be allowed to designate securities
that should not be purchased for the account or that should be sold
if held in the account. The rule does not require that a client be
able to require particular securities be purchased for the account.
\4\ The sponsor also must provide a means by which clients can
contact the sponsor (or its designee).
---------------------------------------------------------------------------
The program must provide each client with a quarterly statement
describing all activity in the client's account during the previous
quarter. The sponsor and personnel of the client's account manager who
know about the client's account and its management must be reasonably
available to consult with the client. Each client also must retain
certain indicia of ownership of all securities and funds in the
account.
The requirement that the sponsor (or its designee) obtain
information about each new client's financial situation and investment
objectives when their account is opened is designed to ensure that the
investment adviser has sufficient information regarding the client's
unique needs and goals to enable the portfolio manager to provide
individualized investment advice. The sponsor is required to contact
clients annually and provide them with quarterly notices to ensure that
the sponsor has current information about the client's financial
status, investment objectives, and restrictions on management of the
account. Maintaining current information enables the portfolio manager
to evaluate each client's portfolio in light of the client's changing
needs and circumstances. The requirement that clients be provided with
quarterly statements of account activity is designed to ensure each
client receives an individualized report, which the Commission believes
is a key element of individualized advisory services.
The Commission staff estimates that 11,291,005 clients participate
each year in investment advisory programs relying on rule 3a-4. Of that
number, the staff estimates that 903,280 are new clients and 10,387,725
are continuing clients. The staff estimates that each year investment
advisory program sponsors staff engage in 1.3 hours per new client and
1 hour per continuing client to prepare, conduct and/or review
interviews regarding the client's financial situation and investment
objectives as required by the rule. Furthermore, the staff estimates
that each year investment advisory program staff spends 1 hour per
client to prepare and mail quarterly client account statements,
including notices to update information. Based on the estimates above,
the Commission estimates that the total annual burden of the rule's
paperwork requirements is 22,852,994 hours.
The total annual hour burden of 22,852,994 hours represents an
increase of 17,245,466 hours from the prior estimate of 5,607,528
hours. This increase principally results from an increase in the
estimated number of clients, which was due to a change in the way
Commission staff made its estimates. The change in annual burden hours
also reflects changes in the estimated burden hours associated with
several collections of information required under the rule (certain
burden estimates increased and certain burden estimates decreased).
These changes in estimated burden hours per collection of information
result from changes in burden hours reported by representatives of
investment advisers that rely on rule 3a-4 that Commission staff
surveyed.
The estimate of average 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 and forms.
Compliance with the collection of information requirements of the
rule is necessary to obtain the benefit of relying on the rule's safe
harbor. Nevertheless, rule 3a-4 is a nonexclusive safe harbor, and a
program that does not comply with the rule's collection of information
requirements does not necessarily meet the Investment Company Act's
definition of investment company. An agency may not conduct or sponsor,
and a person is not required to respond to, a collection of information
unless it
[[Page 71460]]
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, 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 to OMB within 30 days of
this notice.
Dated: November 26, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-28945 Filed 11-29-12; 8:45 am]
BILLING CODE 8011-01-P