Proposed Collection; Comment Request, 25324 [2013-10148]

Download as PDF 25324 Federal Register / Vol. 78, No. 83 / Tuesday, April 30, 2013 / Notices BILLING CODE 8011–01–P unless it displays a currently valid control number. 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 Dated: April 24, 2013. Kevin M. O’Neill, Deputy Secretary. Simon, 6432 General Green Way, Alexandria, VA 22312; or send an email to: PRA_Mailbox@sec.gov. Dated: April 24, 2013. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–10149 Filed 4–29–13; 8:45 am] [FR Doc. 2013–10148 Filed 4–29–13; 8:45 am] Proposed Collection; Comment Request BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Extension: Regulation S; OMB Control No. 3235–0357, SEC File No. 270–315. pmangrum on DSK3VPTVN1PROD with NOTICES Upon Written Request Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. 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’’) 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 S (17 CFR 230.901 through 230.905) sets forth rules governing offers and sales of securities made outside the United States without registration under the Securities Act of 1933 (15 U.S.C. 77a et seq.). Regulation S clarifies the extent to which Section 5 of the Securities Act applies to offers and sales of securities outside of the United States. Regulation S is assigned one burden hour for administrative convenience. Written comments are invited on: (a) Whether this 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 imposed by 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. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information VerDate Mar<15>2010 13:22 Apr 29, 2013 Jkt 229001 Proposed Collection; Comment Request Extension: Rule 0–2; OMB Control No. 3235–0636, SEC File No. 270–572. 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 collections 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. Several sections of the Investment Company Act of 1940 (‘‘Act’’ or ‘‘Investment Company Act’’) 1 give the Commission the authority to issue orders granting exemptions from the Act’s provisions. The section that grants broadest authority is section 6(c), which provides the Commission with authority to conditionally or unconditionally exempt persons, securities or transactions from any provision of the Investment Company Act, or the rules or regulations thereunder, if and to the extent that such exemption is necessary or appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the Act.2 Rule 0–2 under the Investment Company Act,3 entitled ‘‘General Requirements of Papers and Applications,’’ prescribes general instructions for filing an application 1 15 U.S.C. 80a–1 et seq. U.S.C. 80a–6(c). 3 17 CFR 270.0–2. 2 15 PO 00000 Frm 00073 Fmt 4703 Sfmt 4703 seeking exemptive relief with the Commission for which a form is not specifically prescribed. Rule 0–2 requires that each application filed with the commission have (a) a statement of authorization to file and sign the application on behalf of the applicant, (b) a verification of application and statements of fact, (c) a brief statement of the grounds for application, and (d) the name and address of each applicant and of any person to whom questions should be directed. The Commission uses the information required by rule 0– 2 to decide whether the applicant should be deemed to be entitled to the action requested by the application. Applicants for orders can include registered investment companies, affiliated persons of registered investment companies, and issuers seeking to avoid investment company status, among other entities. Commission staff estimates that it receives approximately 110 applications per year under the Act. Although each application typically is submitted on behalf of multiple entities, the entities in the vast majority of cases are related companies and are treated as a single respondent for purposes of this analysis. The time to prepare an application depends on the complexity and/or novelty of the issues covered by the application. We estimate that the Commission receives 15 of the most time-consuming applications annually, 75 applications of medium difficulty, and 20 of the least difficult applications. Based on conversations with applicants, we estimate that in-house counsel would spend from ten to fifty hours helping to draft and review an application. We estimate a total annual hour burden to all respondents of 3,200 hours [(50 hours × 15 applications) + (30 hours × 75 applications) + (10 hours × 20 applications)]. Much of the work of preparing an application is performed by outside counsel. The cost outside counsel charges applicants depends on the complexity of the issues covered by the application and the time required for preparation. Based on conversations with attorneys who serve as outside counsel, the cost ranges from approximately $10,000 for preparing a well-precedented, routine application to approximately $150,000 to prepare a complex and/or novel application. This distribution gives a total estimated annual cost burden to applicants of filing all applications of $8,450,000 [(15 × $150,000) + (75 × $80,000) + (20 × $10,000)]. We request written comment on: (a) Whether the collections of information are necessary for the proper E:\FR\FM\30APN1.SGM 30APN1

Agencies

[Federal Register Volume 78, Number 83 (Tuesday, April 30, 2013)]
[Notices]
[Page 25324]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-10148]


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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:
    Regulation S; OMB Control No. 3235-0357, SEC File No. 270-315.

    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'') 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 S (17 CFR 230.901 through 230.905) sets forth rules 
governing offers and sales of securities made outside the United States 
without registration under the Securities Act of 1933 (15 U.S.C. 77a et 
seq.). Regulation S clarifies the extent to which Section 5 of the 
Securities Act applies to offers and sales of securities outside of the 
United States. Regulation S is assigned one burden hour for 
administrative convenience.
    Written comments are invited on: (a) Whether this 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 
imposed by 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.
    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.
    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: April 24, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-10148 Filed 4-29-13; 8:45 am]
BILLING CODE 8011-01-P
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