Submission for OMB Review; Comment Request, 20699-20700 [2013-07943]

Download as PDF mstockstill on DSK4VPTVN1PROD with NOTICES Federal Register / Vol. 78, No. 66 / Friday, April 5, 2013 / Notices hourly burdens associated with documenting their safeguard policies and procedures. We estimate that approximately 1500 broker-dealers, investment companies, or investment advisers register with the Commission annually. However, we also expect that approximately 70% of these newly registered covered institutions (1050) are affiliated with an existing covered institution, and will rely on an organization-wide set of previously documented safeguard policies and procedures created by their affiliates. We estimate that these affiliated newly registered covered institutions will incur a significantly reduced hourly burden in complying with the safeguards rule, as they will need only to review their affiliate’s existing policies and procedures, and identify and adopt the relevant policies for their business. Therefore, we expect that newly registered covered institutions with existing affiliates will incur an hourly burden of approximately 15 hours in identifying and adopting safeguard policies and procedures for their business, for a total hourly burden for all affiliated new institutions of 15,750 hours. Finally, we expect that the 450 newly registered entities that are not affiliated with an existing institution will incur a significantly higher hourly burden in reviewing and documenting their safeguard policies and procedures. We expect that virtually all of the newly registered covered entities that do not have an affiliate are likely to be small entities and are likely to have smaller and less complex operations, with a correspondingly smaller set of safeguard policies and procedures to document, compared to other larger existing institutions with multiple affiliates. We estimate that it will take a typical newly registered unaffiliated institution approximately 60 hours to review, identify, and document their safeguard policies and procedures, for a total of 27,000 hours for all newly registered unaffiliated entities. Therefore, we estimate that the total annual hourly burden associated with the safeguards rule is 42,750 hours. We also estimate that all covered institutions will be respondents each year, for a total of 20,556 respondents. These estimates of average burden hours are made solely for the purposes of the Paperwork Reduction Act. 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. The safeguard rule does not require the reporting of any information or the filing of any documents with the VerDate Mar<15>2010 17:14 Apr 04, 2013 Jkt 229001 Commission. The collection of information required by the safeguard rule is mandatory. 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 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: April 1, 2013. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–07944 Filed 4–4–13; 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. Extension: Rule 607, OMB Control No. 3235– 0634; SEC File No. 270–561. 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. Regulation E (17 CFR 230.601– 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 PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 20699 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. 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 Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 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. E:\FR\FM\05APN1.SGM 05APN1 20700 Federal Register / Vol. 78, No. 66 / Friday, April 5, 2013 / Notices 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: April 1, 2013. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–07943 Filed 4–4–13; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION mstockstill on DSK4VPTVN1PROD 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: Form N–8F, OMB Control No. 3235– 0157; SEC File No. 270–136. 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–8F (17 CFR 274.218) is the form prescribed for use by registered investment companies in certain circumstances to request orders of the Commission declaring that the registration of that investment company cease to be in effect. The form requests information about: (i) The investment company’s identity, (ii) the investment company’s distributions, (iii) the investment company’s assets and liabilities, (iv) the events leading to the request to deregister, and (v) the conclusion of the investment company’s business. The information is needed by the Commission to determine whether an order of deregistration is appropriate. The Form takes approximately 5.5 hours on average to complete. It is estimated that approximately 142 investment companies file Form N–8F annually, so the total annual burden for the form is estimated to be approximately 781 hours. The estimate of average burden hours is made solely for the purposes of the Paperwork Reduction Act and is not derived from a comprehensive or even a representative survey or study. The collection of information on Form N–8F is not mandatory. The information provided on Form N–8F is not kept confidential. An agency may not conduct or sponsor, and a person is not VerDate Mar<15>2010 17:14 Apr 04, 2013 Jkt 229001 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 Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 6432 General Green Way, Alexandria, VA 22312 or by sending an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: April 1, 2013. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–07942 Filed 4–4–13; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. IC–30440] Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940 March 29, 2013. The following is a notice of applications for deregistration under section 8(f) of the Investment Company Act of 1940 for the month of March 2013. A copy of each application may be obtained via the Commission’s Web site by searching for the file number, or for an applicant using the Company name box, at https://www.sec.gov/search/ search.htm or by calling (202) 551– 8090. An order granting each application will be issued unless the SEC orders a hearing. Interested persons may request a hearing on any application by writing to the SEC’s Secretary at the address below and serving the relevant applicant with a copy of the request, personally or by mail. Hearing requests should be received by the SEC by 5:30 p.m. on April 23, 2013, and should be accompanied by proof of service on the applicant, in the form of an affidavit or, for lawyers, a certificate of service. Hearing requests should state the nature of the writer’s interest, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 writing to the Secretary, U.S. Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. FOR FURTHER INFORMATION CONTACT: Diane L. Titus at (202) 551–6810, SEC, Division of Investment Management, Exemptive Applications Office, 100 F Street NE., Washington, DC 20549– 8010. Highland Floating Rate Fund [File No. 811–8953] Highland Floating Rate Advantage Fund [File No. 811–9709] Summary: Each applicant, a closedend investment company, seeks an order declaring that it has ceased to be an investment company. Applicants have transferred their assets to a series of Pyxis Funds I, and on June 13, 2011, each applicant made a final distribution to its shareholders based on net asset value. Expenses of approximately $275,832 and $365,637, respectively, incurred in connection with the reorganizations were paid by each applicant. Filing Dates: The applications were filed on October 12, 2012, and amended on January 24, 2013. Applicant’s Address: 300 Crescent Ct., Suite 700, Dallas, TX 75201. Highland Event Driven Fund [File No. 811–22101] Highland/U.S. Global Infrastructure Fund [File No. 811–22226] Summary: Each applicant, a closedend investment company, seeks an order declaring that it has ceased to be an investment company. Applicants have never made public offerings of their securities and do not propose to make public offerings or engage in business of any kind. Filing Dates: The applications were filed on October 10, 2012, and amended on January 24, 2013. Applicants’ Address: 300 Crescent Ct., Suite 700, Dallas, TX 75201. Legg Mason Investment Trust Inc. [File No. 811–9613] Summary: Applicant seeks an order declaring that it has ceased to be an investment company. Applicant has transferred its assets to a corresponding shell series of Legg Mason Investment Trust, and on April 30, 2012, applicant made a final distribution to its shareholders based on net asset value. Expenses of approximately $38,567 incurred in connection with the reorganization were paid by applicant. Filing Dates: The application was filed on February 5, 2013, and amended on March 1, 2013. E:\FR\FM\05APN1.SGM 05APN1

Agencies

[Federal Register Volume 78, Number 66 (Friday, April 5, 2013)]
[Notices]
[Pages 20699-20700]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-07943]


-----------------------------------------------------------------------

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 607, OMB Control No. 3235-0634; SEC File No. 270-561.
    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.
    Regulation E (17 CFR 230.601-230.610a) 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.
---------------------------------------------------------------------------

    \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.
---------------------------------------------------------------------------

    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.
    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 Officer, 
Securities and Exchange Commission, c/o Remi Pavlik-Simon,

[[Page 20700]]

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: April 1, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-07943 Filed 4-4-13; 8:45 am]
BILLING CODE 8011-01-P
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