Submission for OMB Review; Comment Request, 35821-35822 [2014-14662]

Download as PDF Federal Register / Vol. 79, No. 121 / Tuesday, June 24, 2014 / Notices Dated: June 18, 2014. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–14660 Filed 6–23–14; 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. mstockstill on DSK4VPTVN1PROD with NOTICES Extension: Rule 203–2 and Form ADV–W; OMB Control No. 3235–0313, SEC File No. 270–40. 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’’) a request for extension of the previously approved collection of information discussed below. The title for the collection of information is ‘‘Rule 203–2 (17 CFR 275.203–2) and Form ADV–W (17 CFR 279.2) under the Investment Advisers Act of 1940 (15 U.S.C. 80b).’’ Rule 203– 2 under the Investment Advisers Act of 1940 establishes procedures for an investment adviser to withdraw its registration with the Commission. Rule 203–2 requires every person withdrawing from investment adviser registration with the Commission to file Form ADV–W electronically on the Investment Adviser Registration Depository (‘‘IARD’’). The purpose of the information collection is to notify the Commission and the public when an investment adviser withdraws its pending or approved SEC registration. Typically, an investment adviser files a Form ADV–W when it ceases doing business or when it is ineligible to remain registered with the Commission. The potential respondents to this information collection are all investment advisers registered with the Commission. The Commission has estimated that compliance with the requirement to complete Form ADV–W imposes a total burden of approximately 0.75 hours (45 minutes) for an adviser filing for full withdrawal and approximately 0.25 hours (15 minutes) for an adviser filing for partial withdrawal. Based on historical filings, the Commission estimates that there are approximately 600 respondents annually filing for full withdrawal and VerDate Mar<15>2010 23:01 Jun 23, 2014 Jkt 232001 approximately 200 respondents annually filing for partial withdrawal. Based on these estimates, the total estimated annual burden would be 500 hours ((600 respondents × .75 hours) + (200 respondents × .25 hours)). Rule 203–2 and Form ADV–W do not require recordkeeping or records retention. The collection of information requirements under the rule and form are mandatory. The information collected pursuant to the rule and Form ADV–W are filings with the Commission. These filings are not 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, 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: June 18, 2014. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–14661 Filed 6–23–14; 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. ‘‘Investor Form’’ SEC File No. 270–485, OMB Control No. 3235–0547 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 a request to approve the collection of information discussed below. PO 00000 Frm 00101 Fmt 4703 Sfmt 4703 35821 Investors who submit complaints, ask questions, or provide tips do so voluntarily. To make it easier for the public to contact the agency electronically, the Commission created a series of investor complaint and question electronic forms. Investors can access forms through the SEC Center for Complaints and Enforcement Tips portal. The Commission consolidated four paper complaint forms into one electronic form (the Investor Form) that provides drop down options to choose from in order to categorize the investor’s complaint or question, and may also provide the investor with automated information about their issue. The investor may describe their complaint and submit it without their name or contact information. The Investor Form asks investors to provide information concerning, among other things, their names, how they can be reached, the names of the individuals or entities involved, the nature of their complaint or tip, what documents they can provide, and what, if any, actions they have taken. Use of the Investor Form is strictly voluntary. Moreover, the Commission does not require investors to submit complaints, questions, tips, or other feedback. Absent the forms, the public still has several ways to contact the agency, including telephone, facsimile, letters, and email. Approximately 20,000 investors each year voluntarily choose to use the complaint and question form. Investors who choose not to use the electronic Investor Form receive the same level of service as those who do. The dual purpose of the form is to make it easier for the public to contact the agency with complaints, questions, tips, or other feedback and to further streamline the workflow of Commission staff that record, process, and respond to investor contacts. The SEC has used—and will continue to use—the information that investors supply on the complaint and question forms, and the electronic Investor Form to review and process the contact (which may, in turn, involve responding to questions, processing complaints, or, as appropriate, initiating enforcement investigations), to maintain a record of contacts, to track the volume of investor complaints, and to analyze trends. The Commission estimates that the total reporting burden for using the Investor Form is 5,000 hours. The calculation of this estimate depends on the number of investors who use the forms each year and the estimated time it takes to complete the forms: 20,000 respondents × 15 minutes = 5,000 burden hours. E:\FR\FM\24JNN1.SGM 24JNN1 35822 Federal Register / Vol. 79, No. 121 / Tuesday, June 24, 2014 / Notices Members of the public should be aware that an agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless a currently valid Office of Management and Budget control number is displayed. Background documentation for this information collection may be viewed at the following link, https:// www.reginfo.gov. General comments regarding the above information should be directed 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 send 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 St. 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: June 18, 2014. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–14662 Filed 6–23–14; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 31087; 812–14297] Northern Lights Fund Trust, et al.; Notice of Application June 18, 2014. Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice of an application under section 6(c) of the Investment Company Act of 1940 (‘‘Act’’) for an exemption from rule 12d1–2(a) under the Act. AGENCY: Summary of Application: Applicants request an order to permit open-end management investment companies relying on rule 12d1–2 under the Act to invest in certain financial instruments. APPLICANTS: Northern Lights Fund Trust (the ‘‘Trust’’), Clark Capital Management Group, Inc. (‘‘CLARK’’) and Northern Lights Distributors, LLC (‘‘NLD’’). DATES: Filing Date: The application was filed on April 2, 2014, and amended on June 11, 2014. HEARING OR NOTIFICATION OF HEARING: An order granting the application will be issued unless the Commission orders a mstockstill on DSK4VPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 23:01 Jun 23, 2014 Jkt 232001 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 July 14, 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, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090; Applicants: c/o James Ash, Gemini Fund Services, LLC, 80 Arkay Drive, Suite 110, Hauppauge, NY 11788. FOR FURTHER INFORMATION CONTACT: Deepak T. Pai, Senior Counsel, at (202) 551–6876, or Mary Kay Frech, Branch Chief, at (202) 551–6821 (Division of Investment Management, Chief Counsel’s Office). SUPPLEMENTARY INFORMATION: The following is a summary of the application. The complete 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. Applicants’ Representations 1. The Trust is organized as a Delaware statutory trust and is registered under the Act as an open-end management investment company. CLARK, a Pennsylvania corporation, is registered as an investment adviser under the Investment Advisers Act of 1940 (‘‘Advisers Act’’). CLARK currently serves as investment adviser to certain series of the Trust.1 NLD, a Nebraska limited liability company and a broker-dealer registered under the Securities and Exchange Act of 1934 (‘‘Exchange Act’’), serves as the distributor for the Funds (as defined below) that are series of the Trust. 2. Applicants request the exemption to the extent necessary to permit any existing or future series of the Trust and any other existing or future registered open-end management investment company or series thereof that (a) is 1 Series of the Trust for which CLARK acts as investment adviser are the (i) Navigator Equity Hedged Fund, (ii) Navigator Duration Neutral Municipal Bond Fund, (iii) Navigator Sentry Managed Volatility Fund, and (iv) Navigator Fixed Income Total Return Fund. PO 00000 Frm 00102 Fmt 4703 Sfmt 4703 advised by CLARK or any person controlling, controlled by or under common control with CLARK (any such adviser or CLARK, an ‘‘Adviser’’); (b) invests in other registered open-end management investment companies (‘‘Underlying Funds’’) in reliance on section 12(d)(1)(G) of the Act; and (c) is also eligible to invest in securities (as defined in section 2(a)(36) of the Act) in reliance on rule 12d1–2 under the Act (the ‘‘Funds’’), to also invest, to the extent consistent with its investment objectives, policies, strategies and limitations, in financial instruments that may not be securities within the meaning of section 2(a)(36) of the Act (‘‘Other Investments’’).2 Applicants also request that the order exempt any entity controlling, controlled by or under common control with NLD, that now or in the future acts as principal underwriter with respect to the transactions described in the application. 3. Consistent with its fiduciary obligations under the Act, each Fund’s board of trustees will review the advisory fees charged by the Fund’s Adviser to ensure that they are based on services provided that are in addition to, rather than duplicative of, services provided pursuant to the advisory agreement of any investment company in which the Fund may invest. Applicants’ Legal Analysis 1. Section 12(d)(1)(A) of the Act provides that no registered investment company (‘‘acquiring company’’) may acquire securities of another investment company (‘‘acquired company’’) if such securities represent more than 3% of the acquired company’s outstanding voting stock or more than 5% of the acquiring company’s total assets, or if such securities, together with the securities of other investment companies, represent more than 10% of the acquiring company’s total assets. Section 12(d)(1)(B) of the Act provides that no registered open-end investment company may sell its securities to another investment company if the sale will cause the acquiring company to own more than 3% of the acquired company’s voting stock, or cause more than 10% of the acquired company’s voting stock to be owned by investment companies and companies controlled by them. 2. Section 12(d)(1)(G) of the Act provides, in part, that section 12(d)(1) will not apply to securities of an 2 All entities that currently intend to rely on the requested order are named as applicants. Any other entity that relies on the order in the future will comply with the terms and condition of the application. E:\FR\FM\24JNN1.SGM 24JNN1

Agencies

[Federal Register Volume 79, Number 121 (Tuesday, June 24, 2014)]
[Notices]
[Pages 35821-35822]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-14662]


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

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.

``Investor Form''
    SEC File No. 270-485, OMB Control No. 3235-0547

    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 a request to approve the collection of information discussed 
below.
    Investors who submit complaints, ask questions, or provide tips do 
so voluntarily. To make it easier for the public to contact the agency 
electronically, the Commission created a series of investor complaint 
and question electronic forms. Investors can access forms through the 
SEC Center for Complaints and Enforcement Tips portal. The Commission 
consolidated four paper complaint forms into one electronic form (the 
Investor Form) that provides drop down options to choose from in order 
to categorize the investor's complaint or question, and may also 
provide the investor with automated information about their issue. The 
investor may describe their complaint and submit it without their name 
or contact information.
    The Investor Form asks investors to provide information concerning, 
among other things, their names, how they can be reached, the names of 
the individuals or entities involved, the nature of their complaint or 
tip, what documents they can provide, and what, if any, actions they 
have taken. Use of the Investor Form is strictly voluntary. Moreover, 
the Commission does not require investors to submit complaints, 
questions, tips, or other feedback. Absent the forms, the public still 
has several ways to contact the agency, including telephone, facsimile, 
letters, and email.
    Approximately 20,000 investors each year voluntarily choose to use 
the complaint and question form. Investors who choose not to use the 
electronic Investor Form receive the same level of service as those who 
do. The dual purpose of the form is to make it easier for the public to 
contact the agency with complaints, questions, tips, or other feedback 
and to further streamline the workflow of Commission staff that record, 
process, and respond to investor contacts.
    The SEC has used--and will continue to use--the information that 
investors supply on the complaint and question forms, and the 
electronic Investor Form to review and process the contact (which may, 
in turn, involve responding to questions, processing complaints, or, as 
appropriate, initiating enforcement investigations), to maintain a 
record of contacts, to track the volume of investor complaints, and to 
analyze trends.
    The Commission estimates that the total reporting burden for using 
the Investor Form is 5,000 hours. The calculation of this estimate 
depends on the number of investors who use the forms each year and the 
estimated time it takes to complete the forms: 20,000 respondents x 15 
minutes = 5,000 burden hours.

[[Page 35822]]

    Members of the public should be aware that an agency may not 
conduct or sponsor, and a person is not required to respond to, a 
collection of information unless a currently valid Office of Management 
and Budget control number is displayed. Background documentation for 
this information collection may be viewed at the following link, https://www.reginfo.gov. General comments regarding the above information 
should be directed 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 send 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 St. 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: June 18, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-14662 Filed 6-23-14; 8:45 am]
BILLING CODE 8011-01-P
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