Submission for OMB Review; Comment Request, 17198-17199 [2014-06764]

Download as PDF 17198 Federal Register / Vol. 79, No. 59 / Thursday, March 27, 2014 / Notices The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of certain collections of information under its regulations on multiemployer plans under the Employee Retirement Income Security Act of 1974 (ERISA). This notice informs the public of PBGC’s request and solicits public comment on the collections of information. SUMMARY: Comments should be submitted by April 28, 2014. DATES: Comments should be sent to the Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for Pension Benefit Guaranty Corporation, via electronic mail at OIRA_ DOCKET@omb.eop.gov or by fax to 202– 395–6974. A copy of PBGC’s request may be obtained without charge by writing to the Disclosure Division of the Office of the General Counsel, 1200 K St. NW., Washington, DC 20005–4026, or by visiting that office or calling 202– 326–4040 during normal business hours. (TTY and TDD users may call the Federal relay service toll free at 1–800– 877–8339 and ask to be connected to 202–326–4040.) The request is also available at https://www.reginfo.gov. ADDRESSES: FOR FURTHER INFORMATION CONTACT: Donald F. McCabe, Attorney, Regulatory Affairs Group, Office of the General Counsel, or Catherine B. Klion, Assistant General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 20005– 4026, 202–326–4024. (For TTY and TDD, call 1–800–877–8339 and request connection to 202–326–4024.) 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. OMB has approved and issued control numbers for the collections of information, described below, in PBGC’s regulations relating to multiemployer plans. OMB approval expires March 31, 2014, or May 31, 2014, as specified below.1 The collections of information for which PBGC is requesting extension of OMB approval are as follows: tkelley on DSK3SPTVN1PROD with NOTICES SUPPLEMENTARY INFORMATION: 1 These two information collections would be affected by PBGC’s recent proposed rule on Multiemployer Plans; Valuation and Notice Requirements, 79 FR 4642 (Jan. 29, 2104). OMB has concluded review of the proposed rule changes to the information collections, leaving the terms of its current approval in effect. VerDate Mar<15>2010 18:40 Mar 26, 2014 Jkt 232001 1. Mergers and Transfers Between Multiemployer Plans (29 CFR Part 4231) (OMB Control Number 1212– 0022) (expires March 31, 2014) Section 4231(a) and (b) of ERISA requires plans that are involved in a merger or transfer to give PBGC 120 days’ notice of the transaction and provides that if PBGC determines that specified requirements are satisfied, the transaction will be deemed not to be in violation of ERISA section 406(a) or (b)(2) (dealing with prohibited transactions). This regulation sets forth the procedures for giving notice of a merger or transfer under section 4231 and for requesting a determination that a transaction complies with section 4231. PBGC uses information submitted by plan sponsors under the regulation to determine whether mergers and transfers conform to the requirements of ERISA section 4231 and the regulation. PBGC estimates that there are 21 transactions each year for which plan sponsors submit notices and approval requests under this regulation. The estimated annual burden of the collection of information is 5.25 hours and $6,903.75. 2. Duties of Plan Sponsor Following Mass Withdrawal (29 CFR Part 4281) (OMB Control Number 1212–0032) (expires May 31, 2014) Section 4281 of ERISA provides rules for plans that have terminated by mass withdrawal. Under section 4281, if nonforfeitable benefits exceed plan assets, the plan sponsor must amend the plan to reduce benefits. If the plan nevertheless becomes insolvent, the plan sponsor must suspend certain benefits that cannot be paid. If available resources are inadequate to pay guaranteed benefits, the plan sponsor must request financial assistance from PBGC. The regulation requires a plan sponsor to give notices of benefit reduction, notices of insolvency and annual updates, and notices of insolvency benefit level to PBGC and to participants and beneficiaries and, if necessary, to apply to PBGC for financial assistance. PBGC uses the information it receives to make determinations required by ERISA, to identify and estimate the cash needed for financial assistance to terminated plans, and to verify the appropriateness of financial assistance payments. Plan participants and beneficiaries use the information to make personal financial decisions. PBGC estimates that plan sponsors of terminated plans each year give benefit PO 00000 Frm 00073 Fmt 4703 Sfmt 4703 reduction notices for three plans and give notices of insolvency benefit level and annual updates, and submit requests for financial assistance, for 54 plans. Of those 54 plans, PBGC estimates that plan sponsors each year will submit 255 requests (ranging from monthly to annual) for financial assistance. PBGC estimates that plan sponsors each year give notices of insolvency for seven plans. The estimated annual burden of the collection of information is one hour and $694,089. Issued in Washington, DC, this 21st day of March, 2014. Judith R. Starr, General Counsel, Pension Benefit Guaranty Corporation. [FR Doc. 2014–06727 Filed 3–26–14; 8:45 am] BILLING CODE 7709–02–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 701, OMB Control No. 3235–0522, SEC File No. 270–306. 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’’) has submitted to the Office of Management and Budget (‘‘OMB’’) the request for extension of the previously approved collection of information discussed below. Rule 701(17 CFR 230.701) under the Securities Act of 1933 (‘‘Securities Act’’) (15 U.S.C. 77a et seq.) provides an exemption for certain issuers from the registration requirements of the Securities Act for limited offerings and sales of securities issued under compensatory benefit plans or contracts. The purpose of Rule 701 is to ensure that a basic level of information is available to employees and others when substantial amounts of securities are issued in compensatory arrangements. Information provided under Rule 701 is mandatory. We estimate that approximately 300 companies annually rely on the Rule 701 exemption and that it takes 2 hours to prepare each response. We estimate that 25% of the 2 hours per response (0.5 hours) is prepared by the company for a total annual reporting burden of 150 hours E:\FR\FM\27MRN1.SGM 27MRN1 Federal Register / Vol. 79, No. 59 / Thursday, March 27, 2014 / Notices (0.5 hours per response × 300 responses). 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. 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, 100 F Street NE., Washington, DC 20549 or send an email to: PRA_Mailbox@ sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: March 21, 2014. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–06764 Filed 3–26–14; 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. tkelley on DSK3SPTVN1PROD with NOTICES Jkt 232001 [FR Doc. 2014–06763 Filed 3–26–14; 8:45 am] SECURITIES AND EXCHANGE COMMISSION 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’’) has submitted to the Office of Management and Budget (‘‘OMB’’) the request for extension of the previously approved collection of information discussed below. Rule 13e–3 (17 CFR 240.13e–3) and Schedule 13E–3 (17 CFR 240.13e– 100)—Rule 13e–3 prescribes the filing, disclosure and dissemination requirements in connection with a going private transaction by an issuer or an affiliate. Schedule 13E–3 provides shareholders and the marketplace with material information concerning a going private transaction. The information collected permits verification of 18:40 Mar 26, 2014 Dated: March 21, 2014. Kevin M. O’Neill, Deputy Secretary. BILLING CODE 8011–01–P Extension: Rule 13e–3 (Schedule 13E–3); OMB Control No. 3235–0007, SEC File No. 270–1. VerDate Mar<15>2010 compliance with securities laws requirements and ensures the public availability and dissemination of the collected information. This information is made available to the public. Information provided on Schedule 13E– 3 is mandatory. We estimate that Schedule 13E–3 is filed by approximately 100 issuers annually and it takes approximately 137.42 hours per response. We estimate that 25% of the 137.42 hours per response is prepared by the filer for a total annual reporting burden of 3,436 hours (34.36 hours per response × 100 responses). 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. 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, 100 F Street NE., Washington, DC 20549 or send an email to: PRA_Mailbox@ sec.gov. Comments must be submitted to OMB within 30 days of this notice. [Investment Company Act Release No. 30988; 812–14245] Empowered Funds, LLC and Empowered Funds ETF Trust; Notice of Application March 21, 2014. Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice of an application for an order under section 6(c) of the Investment Company Act of 1940 (‘‘Act’’) for an exemption from sections 2(a)(32), 5(a)(1), 22(d) and 22(e) of the Act and rule 22c–1 under the Act, under sections 6(c) and 17(b) of the Act for an exemption from sections 17(a)(1) and (a)(2) of the Act, and under section 12(d)(1)(J) of the Act for an exemption AGENCY: PO 00000 Frm 00074 Fmt 4703 Sfmt 4703 17199 from sections 12(d)(1)(A) and (B) of the Act. Applicants: Empowered Funds, LLC (‘‘Empowered Funds’’) and Empowered Funds ETF Trust (the ‘‘Trust’’). SUMMARY: Summary of Application: Applicants request an order that permits: (a) Actively-managed series of certain open-end management investment companies to issue shares (‘‘Shares’’) redeemable in large aggregations only (‘‘Creation Units’’); (b) secondary market transactions in Shares to occur at negotiated market prices; (c) certain series to pay redemption proceeds, under certain circumstances, more than seven days from the tender of Shares for redemption; (d) certain affiliated persons of the series to deposit securities into, and receive securities from, the series in connection with the purchase and redemption of Creation Units; and (e) certain registered management investment companies and unit investment trusts outside of the same group of investment companies as the series to acquire Shares. DATES: Filing Dates: The application was filed on November 26, 2013 and amended on March 12, 2014. Hearing or Notification of Hearing: An order granting the requested relief will be issued unless the Commission orders a hearing. Interested persons may request a hearing by writing to the Commission’s Secretary and serving applicants with a copy of the request, personally or by mail. Hearing requests should be received by the Commission by 5:30 p.m. on April 15, 2014, and should be accompanied by proof of service on applicants, 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 writing to the Commission’s Secretary. ADDRESSES: Secretary, U.S. Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. Applicants: Empowered Funds and the Trust: Empowered Funds, LLC, 213 Foxcroft Road, Broomall, Pennsylvania 19008. FOR FURTHER INFORMATION CONTACT: Deepak T. Pai, Senior Counsel, at (202) 551–6876 or Mary Kay Frech, Branch Chief, at (202) 551–6814 (Division of Investment Management, Office of Chief Counsel). SUPPLEMENTARY INFORMATION: The following is a summary of the application. The complete application may be obtained via the Commission’s E:\FR\FM\27MRN1.SGM 27MRN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 79, Number 59 (Thursday, March 27, 2014)]
[Notices]
[Pages 17198-17199]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-06764]


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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 701, OMB Control No. 3235-0522, SEC File No. 270-306.

    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'') has submitted to the Office of Management 
and Budget (``OMB'') the request for extension of the previously 
approved collection of information discussed below.
    Rule 701(17 CFR 230.701) under the Securities Act of 1933 
(``Securities Act'') (15 U.S.C. 77a et seq.) provides an exemption for 
certain issuers from the registration requirements of the Securities 
Act for limited offerings and sales of securities issued under 
compensatory benefit plans or contracts. The purpose of Rule 701 is to 
ensure that a basic level of information is available to employees and 
others when substantial amounts of securities are issued in 
compensatory arrangements. Information provided under Rule 701 is 
mandatory. We estimate that approximately 300 companies annually rely 
on the Rule 701 exemption and that it takes 2 hours to prepare each 
response. We estimate that 25% of the 2 hours per response (0.5 hours) 
is prepared by the company for a total annual reporting burden of 150 
hours

[[Page 17199]]

(0.5 hours per response x 300 responses).
    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.
    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, 100 
F Street NE., Washington, DC 20549 or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of 
this notice.

    Dated: March 21, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-06764 Filed 3-26-14; 8:45 am]
BILLING CODE 8011-01-P

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