Proposed Collection; Comment Request, 71462-71463 [2014-28306]
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Federal Register / Vol. 79, No. 231 / Tuesday, December 2, 2014 / Notices
Mutual Fund Interactive Data
requirements is to make risk/return
summary information easier for
investors to analyze and to assist in
automating regulatory filings and
business information processing.
Funds are required to file an initial
registration statement on Form N–1A
and to update that registration statement
annually. The Commission estimates
that each fund will submit one
interactive data document as an exhibit
to a registration statement or a posteffective amendment thereto on Form
N–1A that includes or amends
information provided in response to
Items 2, 3 or 4 annually. In addition,
based on a review by Commission staff
of Mutual Fund Interactive Data
submissions in calendar year 2013, the
Commission estimates that 36% of
funds will provide risk/return summary
information as interactive data in
additional filings submitted pursuant to
rule 485(b) (17 CFR 230.485(b)) or rule
497 under the Securities Act annually.
The Commission estimates that the
total annual hour burden associated
with tagging risk/return summary
information is approximately 11 hours.
Based on estimates of 10,559 funds each
submitting one interactive data
document as an exhibit to a registration
statement or post-effective amendment
thereto and 3,801 funds submitting an
additional interactive data document as
an exhibit to a filing pursuant to rule
485(b) or rule 497, each incurring 11
hours per year on average, the
Commission estimates that, in the
aggregate, the tagging of risk/return
summary information will result in
approximately 157,960 annual burden
hours. In addition, the Commission
estimates that funds will require an
average of approximately one burden
hour to post interactive data to their
Web sites. Based on estimates of 10,559
funds each posting one interactive data
document as an exhibit to a registration
statement or post-effective amendment
thereto and 3,801 funds posting an
additional interactive data document as
an exhibit to a filing pursuant to rule
485(b) or rule 497, each incurring one
burden hour per year on average, the
Commission estimates that, in the
aggregate, Mutual Fund Interactive Data
Web site posting requirements will
result in approximately 14,360 annual
burden hours.
The Commission estimates that the
average cost burden per fund is $890 per
year. Based on the estimate of 10,559
funds using software and/or consulting
services at an annual cost of $890, the
Commission estimates that, in the
aggregate, the total external costs to the
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15:30 Dec 01, 2014
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industry will be approximately $9.4
million.
Estimates of average burden hours are
made solely for the purposes of the
Paperwork Reduction Act and are not
derived from a comprehensive or even
representative survey or study of the
costs of Commission rules and forms.
The collection of information under
the Mutual Fund Interactive Data
requirements is mandatory for all funds.
Responses to the disclosure
requirements 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.
Written comments are invited on: (a)
Whether the proposed 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 of 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.
Please direct your written comments
to Pamela Dyson, Acting 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: November 25, 2014.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–28312 Filed 12–1–14; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: U.S. Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE., Washington, DC
20549–2736.
Extension:
Rule 12f–1; SEC File No. 270–139, OMB
Control No. 3235–0128.
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA) (44 U.S.C. 3501 et seq.), the
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Sfmt 4703
Securities and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the collection of information
provided for in Rule 12f–1 (17 CFR
240.12f–1), under the Securities
Exchange Act of 1934 (‘‘Act’’) (15 U.S.C.
78a et seq.). The Commission plans to
submit this existing collection of
information to the Office of
Management and Budget (‘‘OMB’’) for
extension and approval.
Rule 12f–1 (the ‘‘Rule’’), originally
adopted in 1934 pursuant to Sections
12(f) and 23(a) of the Act, as modified
in 1995 and 2005, sets forth the
information which an exchange must
include in an application to reinstate its
ability to extend unlisted trading
privileges to any security for which
such unlisted trading privileges have
been suspended by the Commission,
pursuant to Section 12(f)(2)(A) of the
Act. An application must provide the
name of the issuer, the title of the
security, the name of each national
securities exchange, if any, on which
the security is listed or admitted to
unlisted trading privileges, whether
transaction information concerning the
security is reported pursuant to an
effective transaction reporting plan
contemplated by Rule 601 of Regulation
NMS, the date of the Commission’s
suspension of unlisted trading
privileges in the security on the
exchange, and any other pertinent
information. Rule 12f–1 further requires
a national securities exchange seeking to
reinstate its ability to extend unlisted
trading privileges to a security to
indicate that it has provided a copy of
such application to the issuer of the
security, as well as to any other national
securities exchange on which the
security is listed or admitted to unlisted
trading privileges.
The information required by Rule
12f–1 enables the Commission to make
the necessary findings under the Act
prior to granting applications to
reinstate unlisted trading privileges.
This information is also made available
to members of the public who may wish
to comment upon the applications.
Without the Rule, the Commission
would be unable to fulfill these
statutory responsibilities.
There are currently 18 national
securities exchanges subject to Rule
12f–1. The burden of complying with
Rule 12f–1 arises when a potential
respondent seeks to reinstate its ability
to extend unlisted trading privileges to
any security for which unlisted trading
privileges have been suspended by the
Commission, pursuant to Section
12(f)(2)(A) of the Act. The staff estimates
that each application would require
approximately one hour to complete.
E:\FR\FM\02DEN1.SGM
02DEN1
Federal Register / Vol. 79, No. 231 / Tuesday, December 2, 2014 / Notices
rljohnson on DSK3VPTVN1PROD with NOTICES
Thus each potential respondent would
incur on average one burden hour in
complying with the Rule.
The Commission staff estimates that
there could be as many as 18 responses
annually and that each respondent’s
related cost of compliance with Rule
12f–1 would be $199.00, or, the cost of
one hour of professional work of a
paralegal needed to complete the
application. The total annual related
reporting cost for all potential
respondents, therefore, is $3,582 (18
responses × $199.00 per response).
Compliance with Rule 12f–1 is
mandatory. Rule 12f–1 does not have a
record retention requirement per se.
However, responses made pursuant to
Rule 12f–1 are subject to the
recordkeeping requirements of Rules
17a–3 and 17a–4 of the Act. Information
received in response to Rule 12f–1 shall
not be kept confidential; the information
collected is public information.
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: Pamela Dyson, Acting 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: November 25, 2014.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–28306 Filed 12–1–14; 8:45 am]
BILLING CODE 8011–01–P
VerDate Sep<11>2014
15:30 Dec 01, 2014
Jkt 235001
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; 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 12d2–1; SEC File No. 270–98, OMB
Control No. 3235–0081.
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 collection of information
provided for in Rule 12d2–1(17 CFR
240.12d2–1) under the Securities
Exchange Act of 1934 (15 U.S.C. 78b et
seq.) (‘‘Act’’). The Commission plans to
submit this existing collection of
information to the Office of
Management and Budget (‘‘OMB’’) for
extension and approval.
On February 12, 1935, the
Commission adopted Rule 12d2–1 1
(‘‘Suspension of Trading’’) to establish
the procedures by which a national
securities exchange may suspend from
trading a security that is listed and
registered on the exchange under
Section 12(d) of the Act.2 Under Rule
12d2–1, an exchange is permitted to
suspend from trading a listed security in
accordance with its rules, and must
promptly notify the Commission of any
such suspension, along with the
effective date and the reasons for the
suspension.
Any such suspension may be
continued until such time as the
Commission may determine that the
suspension is designed to evade the
provisions of Section 12(d) of the Act
and Rule 12d2–2 thereunder.3 During
the continuance of such suspension
under Rule 12d2–1, the exchange is
required to notify the Commission
promptly of any change in the reasons
for the suspension. Upon the restoration
to trading of any security suspended
under Rule 12d2–1, the exchange must
notify the Commission promptly of the
effective date of such restoration.
The trading suspension notices serve
a number of purposes. First, they inform
1 See Securities Exchange Act Release No. 98
(February 12, 1935).
2 See Securities Exchange Act Release No. 7011
(February 5, 1963), 28 FR 1506 (February 16, 1963).
3 Rule 12d2–2 prescribes the circumstances under
which a security may be delisted from an exchange
and withdrawn from registration under Section
12(b) of the Act, and provides the procedures for
taking such action.
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71463
the Commission that an exchange has
suspended from trading a listed security
or reintroduced trading in a previously
suspended security. They also provide
the Commission with information
necessary for it to determine that the
suspension has been accomplished in
accordance with the rules of the
exchange, and to verify that the
exchange has not evaded the
requirements of Section 12(d) of the Act
and Rule 12d2–2 thereunder by
improperly employing a trading
suspension. Without Rule 12d2–1, the
Commission would be unable to fully
implement these statutory
responsibilities.
There are 18 national securities
exchanges that are subject to Rule 12d2–
1. The burden of complying with Rule
12d2–1 is not evenly distributed among
the exchanges, however, since there are
many more securities listed on the New
York Stock Exchange, Inc., the
NASDAQ Stock Market, and the
NYSEMKT LLC than on the other
exchanges.4 However, for purposes of
this filing, the Commission staff has
assumed that the number of responses is
evenly divided among the exchanges.
There are approximately 1,600
responses under Rule 12d2–1 for the
purpose of suspension of trading from
the national securities exchanges each
year, and the resultant aggregate annual
reporting hour burden would be,
assuming on average one-half reporting
hour per response, 800 annual burden
hours for all exchanges. The related
internal compliance costs associated
with these burden hours are $159,200
per year.
Written comments are invited on: (a)
Whether the proposed 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 of 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
under the PRA unless it displays a
currently valid OMB control number.
4 In fact, some exchanges do not file any trading
suspension reports in a given year.
E:\FR\FM\02DEN1.SGM
02DEN1
]]>Agencies
[Federal Register Volume 79, Number 231 (Tuesday, December 2, 2014)]
[Notices]
[Pages 71462-71463]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-28306]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Upon Written Request, Copies Available From: U.S. Securities and
Exchange Commission, Office of FOIA Services, 100 F Street NE.,
Washington, DC 20549-2736.
Extension:
Rule 12f-1; SEC File No. 270-139, OMB Control No. 3235-0128.
*COM048*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
collection of information provided for in Rule 12f-1 (17 CFR 240.12f-
1), under the Securities Exchange Act of 1934 (``Act'') (15 U.S.C. 78a
et seq.). The Commission plans to submit this existing collection of
information to the Office of Management and Budget (``OMB'') for
extension and approval.
Rule 12f-1 (the ``Rule''), originally adopted in 1934 pursuant to
Sections 12(f) and 23(a) of the Act, as modified in 1995 and 2005, sets
forth the information which an exchange must include in an application
to reinstate its ability to extend unlisted trading privileges to any
security for which such unlisted trading privileges have been suspended
by the Commission, pursuant to Section 12(f)(2)(A) of the Act. An
application must provide the name of the issuer, the title of the
security, the name of each national securities exchange, if any, on
which the security is listed or admitted to unlisted trading
privileges, whether transaction information concerning the security is
reported pursuant to an effective transaction reporting plan
contemplated by Rule 601 of Regulation NMS, the date of the
Commission's suspension of unlisted trading privileges in the security
on the exchange, and any other pertinent information. Rule 12f-1
further requires a national securities exchange seeking to reinstate
its ability to extend unlisted trading privileges to a security to
indicate that it has provided a copy of such application to the issuer
of the security, as well as to any other national securities exchange
on which the security is listed or admitted to unlisted trading
privileges.
The information required by Rule 12f-1 enables the Commission to
make the necessary findings under the Act prior to granting
applications to reinstate unlisted trading privileges. This information
is also made available to members of the public who may wish to comment
upon the applications. Without the Rule, the Commission would be unable
to fulfill these statutory responsibilities.
There are currently 18 national securities exchanges subject to
Rule 12f-1. The burden of complying with Rule 12f-1 arises when a
potential respondent seeks to reinstate its ability to extend unlisted
trading privileges to any security for which unlisted trading
privileges have been suspended by the Commission, pursuant to Section
12(f)(2)(A) of the Act. The staff estimates that each application would
require approximately one hour to complete.
[[Page 71463]]
Thus each potential respondent would incur on average one burden hour
in complying with the Rule.
The Commission staff estimates that there could be as many as 18
responses annually and that each respondent's related cost of
compliance with Rule 12f-1 would be $199.00, or, the cost of one hour
of professional work of a paralegal needed to complete the application.
The total annual related reporting cost for all potential respondents,
therefore, is $3,582 (18 responses x $199.00 per response).
Compliance with Rule 12f-1 is mandatory. Rule 12f-1 does not have a
record retention requirement per se. However, responses made pursuant
to Rule 12f-1 are subject to the recordkeeping requirements of Rules
17a-3 and 17a-4 of the Act. Information received in response to Rule
12f-1 shall not be kept confidential; the information collected is
public information.
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: Pamela Dyson, Acting
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: November 25, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-28306 Filed 12-1-14; 8:45 am]
BILLING CODE 8011-01-P
