Proposed Collection; Comment Request, 6364-6365 [2013-01934]
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Federal Register / Vol. 78, No. 20 / Wednesday, January 30, 2013 / Notices
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. Rule 17j–1
requires that records be maintained for at
least five years in an easily accessible place.7
Please direct general comments regarding
the above information to the following
persons: (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 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: January 24, 2013.
Kevin M. O’Neill,
Deputy Secretary.
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.
Regulation E (17 CFR 230.601 to
230.610a) exempts from registration
under the Securities Act of 1933 (15
U.S.C. 77a et seq.) (‘‘Securities Act’’)
securities issued by a small business
investment company (‘‘SBIC’’) which is
registered under the Investment
Company Act of 1940 (15 U.S.C. 80a–1
et seq.) (‘‘Investment Company Act’’) or
a closed-end investment company that
has elected to be regulated as a business
development company (‘‘BDC’’) under
the Investment Company Act, so long as
the aggregate offering price of all
securities of the issuer that may be sold
within a 12-month period does not
exceed $5,000,000 and certain other
conditions are met. Rule 607 under
Regulation E (17 CFR 230.607) entitled,
‘‘Sales material to be filed,’’ requires
sales material used in connection with
securities offerings under Regulation E
to be filed with the Commission at least
five days (excluding weekends and
holidays) prior to its use.1 Commission
staff reviews sales material filed under
rule 607 for materially misleading
statements and omissions. The
requirements of rule 607 are designed to
protect investors from the use of false or
misleading sales material in connection
with Regulation E offerings.
Respondents to this collection of
information include SBICs and BDCs
making an offering of securities under
Regulation E. Each respondent’s
reporting burden under rule 607 relates
to the burden associated with filing its
sales material electronically. The
burden of filing electronically, however,
is negligible and there have been no
filings made under this rule, so this
collection of information does not
impose any burden on the industry.
However, we are requesting one annual
response and an annual burden of one
hour for administrative purposes. The
estimate of average burden hours is
made solely for purposes of the
Paperwork Reduction Act and is not
derived from a quantitative,
comprehensive, or even representative
survey or study of the burdens
associated with Commission rules and
forms.
The requirements of this collection of
information are 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
7 If information collected pursuant to the rule is
reviewed by the Commission’s examination staff, it
will be accorded the same level of confidentiality
accorded to other responses provided to the
Commission in the context of its examination and
oversight program. See section 31(c) of the
Investment Company Act (15 U.S.C. 80a–30(c)).
1 Sales material includes advertisements, articles
or other communications to be published in
newspapers, magazines, or other periodicals; radio
and television scripts; and letters, circulars or other
written communications proposed to be sent given
or otherwise communicated to more than ten
persons.
[FR Doc. 2013–01935 Filed 1–29–13; 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.
mstockstill on DSK4VPTVN1PROD with
Extension:
Rule 607, OMB Control No. 3235–0634,
SEC File No. 270–561.
VerDate Mar<15>2010
20:43 Jan 29, 2013
Jkt 229001
PO 00000
Frm 00076
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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, 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: January 24, 2013.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–01937 Filed 1–29–13; 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 17a–8; OMB Control No. 3235–0235,
SEC File No. 270–225.
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501–3520), 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 17a–8 (17 CFR 270.17a–8) under
the Investment Company Act of 1940
(the ‘‘Act’’) (15 U.S.C. 80a) is entitled
‘‘Mergers of affiliated companies.’’ Rule
17a–8 exempts certain mergers and
similar business combinations
(‘‘mergers’’) of affiliated registered
investment companies (‘‘funds’’) from
prohibitions under section 17(a) of the
Act (15 U.S.C. 80a–17(a)) on purchases
and sales between a fund and its
affiliates. The rule requires fund
directors to consider certain issues and
to record their findings in board
minutes. The rule requires the directors
of any fund merging with an
unregistered entity to approve
procedures for the valuation of assets
received from that entity. These
E:\FR\FM\30JAN1.SGM
30JAN1
mstockstill on DSK4VPTVN1PROD with
Federal Register / Vol. 78, No. 20 / Wednesday, January 30, 2013 / Notices
procedures must provide for the
preparation of a report by an
independent evaluator that sets forth the
fair value of each such asset for which
market quotations are not readily
available. The rule also requires a fund
being acquired to obtain approval of the
merger transaction by a majority of its
outstanding voting securities, except in
certain situations, and requires any
surviving fund to preserve written
records describing the merger and its
terms for six years after the merger (the
first two in an easily accessible place).
The average annual burden of meeting
the requirements of rule 17a–8 is
estimated to be 7 hours for each fund.
The Commission staff estimates that
each year approximately 736 funds rely
on the rule. The estimated total average
annual burden for all respondents
therefore is 5,152 hours.
This estimate represents an increase
of 882 hours from the prior estimate of
4,270 hours. This increase reflects a
change in the estimated number of
funds relying on rule 17a–8.
The average cost burden of preparing
a report by an independent evaluator in
a merger with an unregistered entity is
estimated to be $15,000. The average net
cost burden of obtaining approval of a
merger transaction by a majority of a
fund’s outstanding voting securities is
estimated to be $100,000. The
Commission staff estimates that each
year approximately 0 mergers with
unregistered entities occur and
approximately 15 funds hold
shareholder votes that would not
otherwise have held a shareholder vote.
The total annual cost burden of meeting
these requirements is estimated to be
$1,500,000.
The estimates of average burden hours
and average cost burdens are made
solely for the purposes of the Paperwork
Reduction Act, and are not derived from
a comprehensive or even a
representative survey or study. 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 requested on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information has practical utility; (b) the
accuracy of the Commission’s estimate
of the burdens 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
VerDate Mar<15>2010
20:43 Jan 29, 2013
Jkt 229001
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, 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: January 24, 2013.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–01934 Filed 1–29–13; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–68723; File No. SR–MIAX–
2013–02]
Self-Regulatory Organizations: Miami
International Securities Exchange LLC;
Notice of Filing and Order Granting
Accelerated Approval of Proposed
Rule Change To Adopt MIAX Rule 319
Relating to Proxy Voting
January 24, 2013.
Pursuant to the provisions of 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 January 16, 2013, Miami
International Securities Exchange LLC
(‘‘MIAX’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) a proposed rule change
as described in Items I and II below,
which Items have been prepared by the
Exchange. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons, and is
approving the proposed rule change on
an accelerated basis.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is filing a proposal to
adopt Rule 319 (Proxy Voting) in
accordance with the provisions of
Section 957 of the Dodd-Frank Wall
Street Reform and Consumer Protection
Act (the ‘‘Dodd-Frank Act’’).
The text of the proposed rule change
is provided in Exhibit 5. The text of the
proposed rule change is also available
on the Exchange’s Web site at https://
www.miaxoptions.com/filter/wotitle/
rule_filing, at MIAX’s principal office,
1 15
2 17
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00077
Fmt 4703
and at the Commission’s Public
Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange is proposing to adopt
MIAX Rule 319 (Proxy Voting), in
accordance with the provisions of
Section 957 of the Dodd-Frank Act, to
prohibit Members from voting
uninstructed shares if the matter voted
on relates to (i) the election of a member
of the board of directors of an issuer
(other than an uncontested election of a
director of an investment company
registered under the Investment
Company Act of 1940 (the ‘‘Investment
Company Act’’)), (ii) executive
compensation, or (iii) any other
significant matter, as determined by the
Commission, by rule.
Section 957 of the Dodd-Frank Act
amends Section 6(b) 3 of the Act to
require the rules of each national
securities exchange to prohibit any
member organization that is not the
beneficial owner of a security registered
under Section 12 4 of the Act from
granting a proxy to vote the security in
connection with certain stockholder
votes, unless the beneficial owner of the
security has instructed the member
organization to vote the proxy in
accordance with the voting instructions
of the beneficial owner. The stockholder
votes covered by Section 957 include
any vote with respect to (i) the election
of a member of the board of directors of
an issuer (other than an uncontested
election of a director of an investment
company registered under the
Investment Company Act), (ii) executive
compensation, or (iii) any other
significant matter, as determined by the
Commission, by rule.
3 15
4 15
Sfmt 4703
6365
E:\FR\FM\30JAN1.SGM
U.S.C. 78(f)(b).
U.S.C. 781.
30JAN1
]]>Agencies
[Federal Register Volume 78, Number 20 (Wednesday, January 30, 2013)]
[Notices]
[Pages 6364-6365]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-01934]
-----------------------------------------------------------------------
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 17a-8; OMB Control No. 3235-0235, SEC File No. 270-225.
Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (44 U.S.C. 3501-3520), 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 17a-8 (17 CFR 270.17a-8) under the Investment Company Act of
1940 (the ``Act'') (15 U.S.C. 80a) is entitled ``Mergers of affiliated
companies.'' Rule 17a-8 exempts certain mergers and similar business
combinations (``mergers'') of affiliated registered investment
companies (``funds'') from prohibitions under section 17(a) of the Act
(15 U.S.C. 80a-17(a)) on purchases and sales between a fund and its
affiliates. The rule requires fund directors to consider certain issues
and to record their findings in board minutes. The rule requires the
directors of any fund merging with an unregistered entity to approve
procedures for the valuation of assets received from that entity. These
[[Page 6365]]
procedures must provide for the preparation of a report by an
independent evaluator that sets forth the fair value of each such asset
for which market quotations are not readily available. The rule also
requires a fund being acquired to obtain approval of the merger
transaction by a majority of its outstanding voting securities, except
in certain situations, and requires any surviving fund to preserve
written records describing the merger and its terms for six years after
the merger (the first two in an easily accessible place).
The average annual burden of meeting the requirements of rule 17a-8
is estimated to be 7 hours for each fund. The Commission staff
estimates that each year approximately 736 funds rely on the rule. The
estimated total average annual burden for all respondents therefore is
5,152 hours.
This estimate represents an increase of 882 hours from the prior
estimate of 4,270 hours. This increase reflects a change in the
estimated number of funds relying on rule 17a-8.
The average cost burden of preparing a report by an independent
evaluator in a merger with an unregistered entity is estimated to be
$15,000. The average net cost burden of obtaining approval of a merger
transaction by a majority of a fund's outstanding voting securities is
estimated to be $100,000. The Commission staff estimates that each year
approximately 0 mergers with unregistered entities occur and
approximately 15 funds hold shareholder votes that would not otherwise
have held a shareholder vote. The total annual cost burden of meeting
these requirements is estimated to be $1,500,000.
The estimates of average burden hours and average cost burdens are
made solely for the purposes of the Paperwork Reduction Act, and are
not derived from a comprehensive or even a representative survey or
study. 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 requested on: (a) Whether the collection of
information is necessary for the proper performance of the functions of
the Commission, including whether the information has practical
utility; (b) the accuracy of the Commission's estimate of the burdens
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, 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: January 24, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-01934 Filed 1-29-13; 8:45 am]
BILLING CODE 8011-01-P
