Proposed Collection; Comment Request, 56759 [2013-22257]
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Federal Register / Vol. 78, No. 178 / Friday, September 13, 2013 / Notices
Schedule 14N (17 CFR 240.14n-101)
will require the filing of certain
information with the Commission by
shareholders who submit a nominee or
nominees for director pursuant to
applicable state law, or a company’s
governing documents. Schedule 14N
provides notice to the company of the
shareholder’s intent to have the
company include the shareholder’s or
shareholder groups’ nominee or
nominees for director in the company’s
proxy materials. This information is
intended to assist shareholders in
making an informed voting decision
with regards to any nominee or
nominees put forth by a nominating
shareholder or group, by allowing
shareholders to gauge the nominating
shareholder’s interest in the company,
longevity of ownership, and intent with
regard to continued ownership in the
company. We estimate that Schedule
14N takes approximately 64.77 hours
per response and will be filed by
approximately 162 issuers annually. In
addition, we estimate that 75% of the
64.77 hours per response (48.58 hours)
is prepared by the issuer for an annual
reporting burden of 7,870 hours (48.58
hours per response × 162 responses).
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, and Securities and
Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington,
DC 20549 or send and an email to:
PRA_Mailbox@sec.gov.
Dated: September 9, 2013.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–22258 Filed 9–12–13; 8:45 am]
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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, 100 F Street
NE., Washington, DC 20549–0213.
Extension:
Regulation S–AM; SEC File No. 270–548,
OMB Control No. 3235–0609.
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the existing collection of information
provided for in Regulation S–AM (17
CFR Part 248, Subpart B), under the Fair
Credit Reporting Act (15 U.S.C. 1681 et
seq.) (‘‘FCRA’’), the Securities Exchange
Act of 1934 (15 U.S.C. 78a et seq.), the
Investment Company Act of 1940 (15
U.S.C. 80a–1 et seq.), and the
Investment Advisers Act of 1940 (15
U.S.C. 80b–1 et seq.). The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget (‘‘OMB’’) for
extension and approval.
Regulation S–AM implements the
requirements of Section 624 of the
FCRA (15 U.S.C. 1681s–3) as applied to
brokers, dealers, and investment
companies, as well as investment
advisers and transfer agents that are
registered with the Commission
(collectively, ‘‘Covered Persons’’).
Under Section 624 and the regulation,
before a receiving affiliate may make
marketing solicitations based on the
communication of certain consumer
financial information from a Covered
Person, the Covered Person must
provide a notice to each affected
individual informing the individual of
his or her right to prohibit such
marketing. The regulation potentially
applies to all of the approximately
19,856 Covered Persons registered with
the Commission, although only
approximately 11,119 of them have one
or more corporate affiliates, and the
regulation requires only approximately
1,986 to provide consumers with an
affiliate marketing notice and an opt-out
opportunity.
The Commission staff estimates that
there are approximately 11,119 Covered
Persons having one or more affiliates,
and that they each spend an average of
0.20 hours per year to review affiliate
marketing practices, for, collectively, an
estimated annual time burden of 2,224
hours at an annual internal staff cost of
approximately $980,784. The staff also
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56759
estimates that approximately 1,986
Covered Persons provide notice and optout opportunities to consumers, and
that they each spend an average of 7.6
hours per year creating notices,
providing notices and opt-out
opportunities, monitoring the opt-out
notice process, making and updating
records of opt-out elections, and
addressing consumer questions and
concerns about opt-out notices, for,
collectively, an estimated annual time
burden of 15,094 hours at an annual
internal staff cost of approximately
$2,705,054. Thus, the staff estimates
that the collection of information
requires a total of approximately 11,119
respondents to incur an estimated
annual burden of a total of 17,318 hours
at a total annual internal cost of
compliance of approximately
$3,339,438.
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 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
under the PRA unless it displays a
currently valid OMB control number.
Please direct your written comments
to: Thomas Bayer, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington,
DC 20549, or send an email to:
PRA_Mailbox@sec.gov.
Dated: September 9, 2013.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–22257 Filed 9–12–13; 8:45 am]
BILLING CODE 8011–01–P
E:\FR\FM\13SEN1.SGM
13SEN1
Agencies
[Federal Register Volume 78, Number 178 (Friday, September 13, 2013)]
[Notices]
[Page 56759]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-22257]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of Investor Education and Advocacy, 100 F Street
NE., Washington, DC 20549-0213.
Extension:
Regulation S-AM; SEC File No. 270-548, OMB Control No. 3235-
0609.
Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') is soliciting comments on the existing
collection of information provided for in Regulation S-AM (17 CFR Part
248, Subpart B), under the Fair Credit Reporting Act (15 U.S.C. 1681 et
seq.) (``FCRA''), the Securities Exchange Act of 1934 (15 U.S.C. 78a et
seq.), the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.),
and the Investment Advisers Act of 1940 (15 U.S.C. 80b-1 et seq.). The
Commission plans to submit this existing collection of information to
the Office of Management and Budget (``OMB'') for extension and
approval.
Regulation S-AM implements the requirements of Section 624 of the
FCRA (15 U.S.C. 1681s-3) as applied to brokers, dealers, and investment
companies, as well as investment advisers and transfer agents that are
registered with the Commission (collectively, ``Covered Persons'').
Under Section 624 and the regulation, before a receiving affiliate may
make marketing solicitations based on the communication of certain
consumer financial information from a Covered Person, the Covered
Person must provide a notice to each affected individual informing the
individual of his or her right to prohibit such marketing. The
regulation potentially applies to all of the approximately 19,856
Covered Persons registered with the Commission, although only
approximately 11,119 of them have one or more corporate affiliates, and
the regulation requires only approximately 1,986 to provide consumers
with an affiliate marketing notice and an opt-out opportunity.
The Commission staff estimates that there are approximately 11,119
Covered Persons having one or more affiliates, and that they each spend
an average of 0.20 hours per year to review affiliate marketing
practices, for, collectively, an estimated annual time burden of 2,224
hours at an annual internal staff cost of approximately $980,784. The
staff also estimates that approximately 1,986 Covered Persons provide
notice and opt-out opportunities to consumers, and that they each spend
an average of 7.6 hours per year creating notices, providing notices
and opt-out opportunities, monitoring the opt-out notice process,
making and updating records of opt-out elections, and addressing
consumer questions and concerns about opt-out notices, for,
collectively, an estimated annual time burden of 15,094 hours at an
annual internal staff cost of approximately $2,705,054. Thus, the staff
estimates that the collection of information requires a total of
approximately 11,119 respondents to incur an estimated annual burden of
a total of 17,318 hours at a total annual internal cost of compliance
of approximately $3,339,438.
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
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 under the PRA unless it
displays a currently valid OMB control number.
Please direct your written comments to: Thomas Bayer, Director/
Chief Information Officer, Securities and Exchange Commission, c/o Remi
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or send an email
to: PRA_Mailbox@sec.gov.
Dated: September 9, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-22257 Filed 9-12-13; 8:45 am]
BILLING CODE 8011-01-P