Submission for OMB Review; Comment Request, 50710 [2014-20086]

Download as PDF 50710 Federal Register / Vol. 79, No. 164 / Monday, August 25, 2014 / Notices 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: August 19, 2014. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–20084 Filed 8–22–14; 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 FOIA Services, 100 F Street NE., Washington, DC 20549–2736. emcdonald on DSK67QTVN1PROD with NOTICES Extension: Rule 10b–17; SEC File No. 270–427, OMB Control No. 3235–0476. 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’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for approval of extension of the previously approved collection of information provided for in Rule 10b–17 (17 CFR 240.10b–17), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 10b–17 requires any issuer of a class of securities publicly traded by the use of any means or instrumentality of interstate commerce or of the mails or of any facility of any national securities exchange to give notice of the following specific distributions relating to such class of securities: (1) A dividend or other distribution in cash or in kind other than interest payments on debt securities; (2) a stock split or reverse stock split; or (3) a rights or other subscription offering. Notice shall be either given to the Financial Industry Regulatory Authority, Inc. as successor to the National Association of Securities Dealers, Inc. or in accordance with the procedures of the national securities VerDate Mar<15>2010 17:31 Aug 22, 2014 Jkt 232001 exchange upon which the securities are registered. The Commission may exempt an issuer of over-the-counter (but not listed) securities from the notice requirement. The requirements of 10b–17 do not apply to redeemable securities of registered open-end investment companies or unit investment trusts. The information required by Rule 10b–17 is necessary for the execution of the Commission’s mandate under the Securities Exchange Act of 1934 to prevent fraudulent, manipulative, and deceptive acts and practices. The Commission has found that not requiring formal notices of the types of distributions covered by Rule 10b–17 has led to a number of abuses including purchasers not being aware of their rights to such distributions. It is only through formal notice of the distribution, including the date of the distribution, that current holders, potential buyers, or potential sellers of the securities at issue will know their rights to the distribution. Therefore, it is only through formal notice that investors can make an informed decision as to whether to buy or sell a security. There are approximately 6,668 respondents per year. These respondents make approximately 22,354 responses per year. Each response takes approximately 10 minutes to complete. Thus, the total compliance burden per year is 3,726 burden hours. The total internal labor cost of compliance for the respondents, associated with producing and filing the reports, is approximately $254,038.68. 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 background documentation for this information collection at the following Web site: http://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 by sending an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. PO 00000 Frm 00097 Fmt 4703 Sfmt 4703 Dated: August 19, 2014. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–20086 Filed 8–22–14; 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 FOIA Services, 100 F Street NE., Washington, DC 20549–2736. Extension: Rule 18f–3; OMB Control No. 3235–0441, SEC File No. 270–385. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) (‘‘Paperwork Reduction Act’’), the Securities and Exchange Commission (‘‘the Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. Rule 18f–3 (17 CFR 270.18f–3) under the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) exempts from section 18(f)(1) a fund that issues multiple classes of shares representing interests in the same portfolio of securities (a ‘‘multiple class fund’’) if the fund satisfies the conditions of the rule. In general, each class must differ in its arrangement for shareholder services or distribution or both, and must pay the related expenses of that different arrangement. The rule includes one requirement for the collection of information. A multiple class fund must prepare, and fund directors must approve, a written plan setting forth the separate arrangement and expense allocation of each class, and any related conversion features or exchange privileges (‘‘rule 18f–3 plan’’). Approval of the plan must occur before the fund issues any shares of multiple classes and whenever the fund materially amends the plan. In approving the plan, the fund board, including a majority of the independent directors, must determine that the plan is in the best interests of each class and the fund as a whole. The requirement that the fund prepare and directors approve a written rule 18f–3 plan is intended to ensure that the fund compiles information relevant to the fairness of the separate arrangement and expense allocation for each class, and that directors review and approve the information. Without a blueprint E:\FR\FM\25AUN1.SGM 25AUN1

Agencies

[Federal Register Volume 79, Number 164 (Monday, August 25, 2014)]
[Notices]
[Page 50710]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-20086]


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

SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 
20549-2736.

Extension:
    Rule 10b-17; SEC File No. 270-427, OMB Control No. 3235-0476.

    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'') has submitted to the Office of Management 
and Budget (``OMB'') a request for approval of extension of the 
previously approved collection of information provided for in Rule 10b-
17 (17 CFR 240.10b-17), under the Securities Exchange Act of 1934 (15 
U.S.C. 78a et seq.).
    Rule 10b-17 requires any issuer of a class of securities publicly 
traded by the use of any means or instrumentality of interstate 
commerce or of the mails or of any facility of any national securities 
exchange to give notice of the following specific distributions 
relating to such class of securities: (1) A dividend or other 
distribution in cash or in kind other than interest payments on debt 
securities; (2) a stock split or reverse stock split; or (3) a rights 
or other subscription offering. Notice shall be either given to the 
Financial Industry Regulatory Authority, Inc. as successor to the 
National Association of Securities Dealers, Inc. or in accordance with 
the procedures of the national securities exchange upon which the 
securities are registered. The Commission may exempt an issuer of over-
the-counter (but not listed) securities from the notice requirement. 
The requirements of 10b-17 do not apply to redeemable securities of 
registered open-end investment companies or unit investment trusts.
    The information required by Rule 10b-17 is necessary for the 
execution of the Commission's mandate under the Securities Exchange Act 
of 1934 to prevent fraudulent, manipulative, and deceptive acts and 
practices. The Commission has found that not requiring formal notices 
of the types of distributions covered by Rule 10b-17 has led to a 
number of abuses including purchasers not being aware of their rights 
to such distributions. It is only through formal notice of the 
distribution, including the date of the distribution, that current 
holders, potential buyers, or potential sellers of the securities at 
issue will know their rights to the distribution. Therefore, it is only 
through formal notice that investors can make an informed decision as 
to whether to buy or sell a security.
    There are approximately 6,668 respondents per year. These 
respondents make approximately 22,354 responses per year. Each response 
takes approximately 10 minutes to complete. Thus, the total compliance 
burden per year is 3,726 burden hours. The total internal labor cost of 
compliance for the respondents, associated with producing and filing 
the reports, is approximately $254,038.68.
    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 background documentation for this information 
collection at the following Web site: http://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 by sending an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of 
this notice.

    Dated: August 19, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-20086 Filed 8-22-14; 8:45 am]
BILLING CODE 8011-01-P