Submission for OMB Review; Comment Request, 59869 [2014-23574]
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59869
Federal Register / Vol. 79, No. 192 / Friday, October 3, 2014 / Notices
Annual
responses
Form number
Time
(minutes)
Burden
(hours)
PRC .............................................................................................................................................
Pin/Password ...............................................................................................................................
12,500
20,000
5.0
1.5
1,042
500
Total ......................................................................................................................................
32,500
........................
1,542
Additional Information or Comments:
Copies of the forms and supporting
documents can be obtained from Dana
Hickman at (312) 751–4981 or
Dana.Hickman@RRB.GOV.
Comments regarding the information
collection should be addressed to
Charles Mierzwa, Railroad Retirement
Board, 844 North Rush Street, Chicago,
Illinois 60611–2092 or
Charles.Mierzwa@RRB.GOV and to the
OMB Desk Officer for the RRB, Fax:
202–395–6974, Email address: OIRA_
Submission@omb.eop.gov.
Charles Mierzwa,
Chief of Information Resources Management.
[FR Doc. 2014–23589 Filed 10–2–14; 8:45 am]
BILLING CODE 7905–01–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 498, SEC File No. 270–574, OMB
Control No. 3235–0648.
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 498 (17 CFR 230.498) under the
Securities Act of 1933 (15 U.S.C. 77a et
seq.) (‘‘Securities Act’’) permits openend management investment companies
(‘‘funds’’) to satisfy their prospectus
delivery obligations under the Securities
Act by sending or giving key
information directly to investors in the
form of a summary prospectus
(‘‘Summary Prospectus’’) and providing
the statutory prospectus on a Web site.
Upon an investor’s request, funds are
also required to send the statutory
prospectus to the investor. In addition,
under rule 498, a fund that relies on the
VerDate Sep<11>2014
18:08 Oct 02, 2014
Jkt 235001
rule to meet its statutory prospectus
delivery obligations must make
available, free of charge, the fund’s
current Summary Prospectus, statutory
prospectus, statement of additional
information, and most recent annual
and semi-annual reports to shareholders
at the Web site address specified in the
required Summary Prospectus legend.1
A Summary Prospectus that complies
with rule 498 is deemed to be a
prospectus that is authorized under
Section 10(b) of the Securities Act and
Section 24(g) of the Investment
Company Act of 1940 (15 U.S.C. 80a–1
et seq.).
The purpose of rule 498 is to enable
a fund to provide investors with a
Summary Prospectus containing key
information necessary to evaluate an
investment in the fund. Unlike many
other federal information collections,
which are primarily for the use and
benefit of the collecting agency, this
information collection is primarily for
the use and benefit of investors. The
information filed with the Commission
also permits the verification of
compliance with securities law
requirements and assures the public
availability and dissemination of the
information.
Based on an analysis of fund filings,
the Commission estimates that
approximately 9,082 portfolios are using
a Summary Prospectus. The
Commission estimates that the annual
hourly burden per portfolio associated
with the compilation of the information
required on the cover page or the
beginning of the Summary Prospectus is
0.5 hours, and estimates that the annual
hourly burden per portfolio to comply
with the Web site posting requirement
is approximately 1 hour, requiring a
total of 1.5 hours per portfolio per year.2
Thus the total annual hour burden
associated with these requirements of
the rule is approximately 13,623.3 The
Commission estimates that the annual
1 17
CFR 270.498(e)(1).
2 0.5 hours per portfolio + 1 hour per portfolio =
1.5 hours per portfolio. The Commission believes
that funds that have opted to use the Summary
Prospectus have already incurred the estimated
one-time hour burden to initially comply with rule
498, and therefore the estimated burden hours to
initially comply with rule 498 and the associated
costs are not included in these estimates.
3 1.5 hours per portfolio × 9,082 portfolios =
13,623 hours.
PO 00000
Frm 00131
Fmt 4703
Sfmt 9990
cost burden is approximately $15,900
per portfolio, for a total annual cost
burden of approximately $144,403,800.4
Estimates of the average burden hours
are made solely for the purposes of the
Paperwork Reduction Act and are not
derived from a comprehensive or even
a representative survey or study of the
costs of Commission rules and forms.
Under rule 498, use of the Summary
Prospectus is voluntary, but the rule’s
requirements regarding provision of the
statutory prospectus upon investor
request are mandatory for funds that
elect to send or give a Summary
Prospectus in reliance upon rule 498.
The information provided under rule
498 will not be 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 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, 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: September 29, 2014.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–23574 Filed 10–2–14; 8:45 am]
BILLING CODE 8011–01–P
4 $15,900 per portfolio × 9,082 portfolios =
$144,403,800.
E:\FR\FM\03OCN1.SGM
03OCN1
Agencies
[Federal Register Volume 79, Number 192 (Friday, October 3, 2014)]
[Notices]
[Page 59869]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-23574]
=======================================================================
-----------------------------------------------------------------------
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 498, SEC File No. 270-574, OMB Control No. 3235-0648.
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 498 (17 CFR 230.498) under the Securities Act of 1933 (15
U.S.C. 77a et seq.) (``Securities Act'') permits open-end management
investment companies (``funds'') to satisfy their prospectus delivery
obligations under the Securities Act by sending or giving key
information directly to investors in the form of a summary prospectus
(``Summary Prospectus'') and providing the statutory prospectus on a
Web site. Upon an investor's request, funds are also required to send
the statutory prospectus to the investor. In addition, under rule 498,
a fund that relies on the rule to meet its statutory prospectus
delivery obligations must make available, free of charge, the fund's
current Summary Prospectus, statutory prospectus, statement of
additional information, and most recent annual and semi-annual reports
to shareholders at the Web site address specified in the required
Summary Prospectus legend.\1\ A Summary Prospectus that complies with
rule 498 is deemed to be a prospectus that is authorized under Section
10(b) of the Securities Act and Section 24(g) of the Investment Company
Act of 1940 (15 U.S.C. 80a-1 et seq.).
---------------------------------------------------------------------------
\1\ 17 CFR 270.498(e)(1).
---------------------------------------------------------------------------
The purpose of rule 498 is to enable a fund to provide investors
with a Summary Prospectus containing key information necessary to
evaluate an investment in the fund. Unlike many other federal
information collections, which are primarily for the use and benefit of
the collecting agency, this information collection is primarily for the
use and benefit of investors. The information filed with the Commission
also permits the verification of compliance with securities law
requirements and assures the public availability and dissemination of
the information.
Based on an analysis of fund filings, the Commission estimates that
approximately 9,082 portfolios are using a Summary Prospectus. The
Commission estimates that the annual hourly burden per portfolio
associated with the compilation of the information required on the
cover page or the beginning of the Summary Prospectus is 0.5 hours, and
estimates that the annual hourly burden per portfolio to comply with
the Web site posting requirement is approximately 1 hour, requiring a
total of 1.5 hours per portfolio per year.\2\ Thus the total annual
hour burden associated with these requirements of the rule is
approximately 13,623.\3\ The Commission estimates that the annual cost
burden is approximately $15,900 per portfolio, for a total annual cost
burden of approximately $144,403,800.\4\
---------------------------------------------------------------------------
\2\ 0.5 hours per portfolio + 1 hour per portfolio = 1.5 hours
per portfolio. The Commission believes that funds that have opted to
use the Summary Prospectus have already incurred the estimated one-
time hour burden to initially comply with rule 498, and therefore
the estimated burden hours to initially comply with rule 498 and the
associated costs are not included in these estimates.
\3\ 1.5 hours per portfolio x 9,082 portfolios = 13,623 hours.
\4\ $15,900 per portfolio x 9,082 portfolios = $144,403,800.
---------------------------------------------------------------------------
Estimates of the average burden hours are made solely for the
purposes of the Paperwork Reduction Act and are not derived from a
comprehensive or even a representative survey or study of the costs of
Commission rules and forms. Under rule 498, use of the Summary
Prospectus is voluntary, but the rule's requirements regarding
provision of the statutory prospectus upon investor request are
mandatory for funds that elect to send or give a Summary Prospectus in
reliance upon rule 498. The information provided under rule 498 will
not be 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 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, 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: September 29, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-23574 Filed 10-2-14; 8:45 am]
BILLING CODE 8011-01-P