Submission of OMB Review; Comment Request, 45689-45690 [2015-18765]
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Federal Register / Vol. 80, No. 147 / Friday, July 31, 2015 / Notices
publication of notice of filing of this
proposed rule change is July 27, 2015.
The Commission is extending the 45day time period for Commission action
on the proposed rule change. ICC’s
proposed rule change would revise the
ICC Risk Management Framework to
extend its General Wrong Way Risk
framework to the portfolio level to
account for the potential accumulation
of portfolio wrong way risk through Risk
Factor specific wrong way risk
exposures. The Commission finds it is
appropriate to designate a longer period
within which to take action on the
proposed rule change so that it has
sufficient time to consider ICC’s
proposed rule change.
Accordingly, the Commission,
pursuant to section 19(b)(2) of the Act,5
designates September 10, 2015, as the
date by which the Commission should
either approve or disapprove, or
institute proceedings to determine
whether to disapprove, the proposed
rule change (File No. SR–ICC–2015–
009).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015–18769 Filed 7–30–15; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Submission of 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.
asabaliauskas on DSK5VPTVN1PROD with NOTICES
Extension:
Rule 31a–2; SEC File No. 270–174, OMB
Control No. 3235–0179.
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 (the
‘‘Commission’’) has submitted to the
Office of Management and Budget a
request for extension of the previously
approved collection of information
discussed below.
Section 31(a)(1) of the Investment
Company Act of 1940 (the ‘‘Act’’) (15
U.S.C. 80a–30(a)(1)) requires registered
investment companies (‘‘funds’’) and
certain underwriters, broker-dealers,
investment advisers, and depositors to
maintain and preserve records as
5 15
6 17
U.S.C. 78s(b)(2).
CFR 200.30–3(a)(31).
VerDate Sep<11>2014
17:44 Jul 30, 2015
Jkt 235001
prescribed by Commission rules. Rule
31a–1 under the Act (17 CFR 270.31a–
1) specifies the books and records that
each of these entities must maintain.
Rule 31a–2 under the Act (17 CFR
270.31a–2), which was adopted on April
17, 1944, specifies the time periods that
entities must retain certain books and
records, including those required to be
maintained under rule 31a–1.
Rule 31a–2 requires the following:
1. Every fund must preserve
permanently, and in an easily accessible
place for the first two years, all books
and records required under rule 31a–
1(b)(1)–(4).1
2. Every fund must preserve for at
least six years, and in an easily
accessible place for the first two years:
a. All books and records required
under rule 31a–1(b)(5)–(12); 2
b. all vouchers, memoranda,
correspondence, checkbooks, bank
statements, canceled checks, cash
reconciliations, canceled stock
certificates, and all schedules
evidencing and supporting each
computation of net asset value of fund
shares, and other documents required to
be maintained by rule 31a–1(a) and not
enumerated in rule 31a–1(b);
c. any advertisement, pamphlet,
circular, form letter or other sales
literature addressed or intended for
distribution to prospective investors;
d. any record of the initial
determination that a director is not an
interested person of the fund, and each
subsequent determination that the
director is not an interested person of
the fund, including any questionnaire
and any other document used to
determine that a director is not an
interested person of the company;
e. any materials used by the
disinterested directors of a fund to
determine that a person who is acting as
legal counsel to those directors is an
independent legal counsel; and
f. any documents or other written
information considered by the directors
1 These include, among other records, journals
detailing daily purchases and sales of securities,
general and auxiliary ledgers reflecting all asset,
liability, reserve, capital, income and expense
accounts, separate ledgers reflecting separately for
each portfolio security as of the trade date all
‘‘long’’ and ‘‘short’’ positions carried by the fund for
its own account, and corporate charters, certificates
of incorporation, by-laws and minute books.
2 These include, among other records, records of
each brokerage order given in connection with
purchases and sales of securities by the fund,
records of all other portfolio purchases or sales,
records of all puts, calls, spreads, straddles or other
options in which the fund has an interest, has
granted, or has guaranteed, records of proof of
money balances in all ledger accounts, files of all
advisory material received from the investment
adviser, and memoranda identifying persons,
committees, or groups authorizing the purchase or
sale of securities for the fund.
PO 00000
Frm 00051
Fmt 4703
Sfmt 4703
45689
of the fund pursuant to section 15(c) of
the Act (15 U.S.C. 80a–15(c)) in
approving the terms or renewal of a
contract or agreement between the fund
and an investment advisor.3
3. Every underwriter, broker, or dealer
that is a majority-owned subsidiary of a
fund must preserve records required to
be preserved by brokers and dealers
under rules adopted under section 17 of
the Securities Exchange Act of 1934 (15
U.S.C. 78q) (‘‘section 17’’) for the
periods established in those rules.
4. Every depositor of a fund, and
every principal underwriter of a fund
(other than a closed-end fund), must
preserve for at least six years records
required to be maintained by brokers
and dealers under rules adopted under
section 17 to the extent the records are
necessary or appropriate to record the
entity’s transactions with the fund.
5. Every investment adviser that is a
majority-owned subsidiary of a fund
must preserve the records required to be
preserved by investment advisers under
rules adopted under section 204 of the
Investment Advisers Act of 1940 (15
U.S.C. 80b–4) (‘‘section 204’’) for the
periods specified in those rules.
6. Every investment adviser that is not
a majority-owned subsidiary of a fund
must preserve for at least six years
records required to be maintained by
registered investment advisers under
rules adopted under section 204 to the
extent the records are necessary or
appropriate to reflect the adviser’s
transactions with the fund.
The records required to be maintained
and preserved under this part may be
maintained and preserved for the
required time by, or on behalf of, a fund
on (i) micrographic media, including
microfilm, microfiche, or any similar
medium, or (ii) electronic storage media,
including any digital storage medium or
system that meets the terms of rule 31a–
2(f). The fund, or person that maintains
and preserves records on its behalf,
must arrange and index the records in
a way that permits easy location, access,
and retrieval of any particular record.4
3 Section 15 of the Act requires that fund
directors, including a majority of independent
directors, annually approve the fund’s advisory
contract and that the directors first obtain from the
adviser the information reasonably necessary to
evaluate the contract. The information request
requirement in section 15 provides fund directors,
including independent directors, a tool for
obtaining the information they need to represent
shareholder interests.
4 In addition, the fund, or person who maintains
and preserves records for the fund, must provide
promptly any of the following that the Commission
(by its examiners or other representatives) or the
directors of the fund may request: (A) A legible,
true, and complete copy of the record in the
medium and format in which it is stored; (B) a
E:\FR\FM\31JYN1.SGM
Continued
31JYN1
45690
Federal Register / Vol. 80, No. 147 / Friday, July 31, 2015 / Notices
asabaliauskas on DSK5VPTVN1PROD with NOTICES
We periodically inspect the
operations of all funds to ensure their
compliance with the provisions of the
Act and the rules under the Act. Our
staff spends a significant portion of its
time in these inspections reviewing the
information contained in the books and
records required to be kept by rule 31a–
1 and to be preserved by rule 31a–2.
There are 3146 funds currently
operating as of December 31, 2014, all
of which are required to comply with
rule 31a–2. Based on conversations with
representatives of the fund industry and
past estimates, our staff estimates that
each fund currently spends 220 total
hours per year complying with rule
31a–2. Our staff estimates that the 220
hours spent by typical fund would be
split evenly between administrative and
computer operation personnel,5 with
110 hours spent by a general clerk at a
rate of $57 per hour and 110 hours spent
by a senior computer operator at a rate
of $87 per hour.6 Based on these
estimates, our staff estimates that the
total annual burden for all funds to
comply with rule 31a–2 is 692,120
hours at an estimated cost of
$49,832,640.7
The hour burden estimates for
retaining records under rule 31a–2 are
based on our experience with registrants
and our experience with similar
requirements under the Act and the
rules under the Act. The number of
burden hours may vary depending on,
among other things, the complexity of
the fund, the issues faced by the fund,
legible, true, and complete printout of the record;
and (C) means to access, view, and print the
records; and must separately store, for the time
required for preservation of the original record, a
duplicate copy of the record on any medium
allowed by rule 31a–2(f). In the case of records
retained on electronic storage media, the fund, or
person that maintains and preserves records on its
behalf, must establish and maintain procedures: (i)
To maintain and preserve the records, so as to
reasonably safeguard them from loss, alteration, or
destruction; (ii) to limit access to the records to
properly authorized personnel, the directors of the
fund, and the Commission (including its examiners
and other representatives); and (iii) to reasonably
ensure that any reproduction of a non-electronic
original record on electronic storage media is
complete, true, and legible when retrieved.
5 However, the hour burden may be incurred by
a variety of fund staff, and the type of staff position
used for compliance with the rule may vary widely
from fund to fund.
6 The estimated salary rates are derived from
SIFMA’s Office Salaries in the Securities Industry
2013, modified by Commission staff to account for
an 1800-hour work-year and multiplied by 2.93 to
account for bonuses, firm size, employee benefits
and overhead.
7 This estimate is based on the following
calculations: 3146 funds × 220 hours = 692,120 total
hours; 692,120 hours/2 = 346,060 hours; 346,060 ×
$57 rate per hour for a clerk = $19,725,420; 346,060
× $87 rate per hour for a computer operator =
$30,107,220; $19,725,420 + $30,107,220 =
$49,832,640 total cost.
VerDate Sep<11>2014
17:44 Jul 30, 2015
Jkt 235001
and the number of series and classes of
the fund. The estimated average burden
hours are made solely for purposes of
the Paperwork Reduction Act and are
not derived from quantitative,
comprehensive, or even representative
survey or study of the burdens
associated with our rules and forms.
Based on conversations with
representatives of the fund industry and
past estimates, our staff estimates that
the average cost of preserving books and
records required by rule 31a–2 is
approximately $74,782 annually per
fund.8 As discussed previously, there
are 3,146 funds currently operating, for
a total cost of preserving records as
required by rule 31a–2 of approximately
$235,264,172 per year.9 Our staff
understands, however, based on
previous conversations with
representatives of the fund industry,
that even in the absence of rule 31a–2
funds would already spend
approximately half of this amount
($117,632,086) to preserve these same
books and records, as they are also
necessary to prepare financial
statements, meet various state reporting
requirements, and prepare their annual
federal and state income tax returns.
Therefore, we estimate that the total
annual cost burden for all funds as a
result of compliance with rule 31a–2 is
approximately $117,632,086 per year.
The estimate of average burden hours
is made solely for the purposes of the
Paperwork Reduction Act, and is not
derived from a comprehensive or even
a representative survey or study of the
costs of Commission rules and forms.
The collection of information under
rule 31a–2 is mandatory for all funds.
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
8 This estimate is based on staff’s 2012 estimate
of costs of preserving books and records required
by rule 31a–2 ($70,000), adjusted for inflation to
January 2015 values using the Personal
Consumption Expenditures Chain-Type Price Index
(‘‘PCE Index’’). The values of the PCE Index are
available from the Bureau of Economic Analysis, a
bureau of the Department of Commerce. See Bureau
of Economic Analysis, Table 2.8.6. Real Personal
Consumption Expenditures by Major Type of
Product, Monthly, Chained Dollars (Last Revised on
March 2, 2015), available at https://www.bea.gov/
iTable/iTable.cfm?ReqID=9&step=1#reqid=9&
step=3&isuri=1&903=83. Thus, $70,000 (2012
estimate) × 11,163.6 (Jan. 2015 PCE Index value)/
10,449.7 (2012 PCE Index value) = $74,782 (Jan.
2015 inflation adjusted estimate).
9 This estimate is based on the following
calculation: 3,146 funds × $74,782 = $235,264,172.
PO 00000
Frm 00052
Fmt 4703
Sfmt 4703
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) Pamela
Dyson, 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: July 27, 2015.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015–18765 Filed 7–30–15; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–75528; File No. SR–OCC–
2015–013]
Self-Regulatory Organizations; The
Options Clearing Corporation; Order
Approving a Proposed Rule Change To
Codify Procedures for Resizing the
Options Clearing Corporation’s
Clearing Fund on a Monthly Basis and
Increasing Such Clearing Fund Size on
an Intra-Month Basis
July 27, 2015.
On June 19, 2015, The Options
Clearing Corporation (‘‘OCC’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change SR–OCC–2015–
013 pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder.2
The proposed rule change was
published for comment in the Federal
Register on June 26, 2015.3 The
Commission did not receive any
comments on the proposed rule change.
This order approves the proposed rule
change.
I. Description
According to OCC, it is amending
Rule 1001(a) to codify the Commission’s
recent approval of and non-objection to
procedures for resizing the clearing fund
on a monthly basis and increasing such
clearing fund size on an intra-month
basis to ensure OCC maintains sufficient
financial resources consistent with
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 Securities Exchange Act Release No. 75260
(June 22, 2015), 80 FR 36867 (June 26, 2015) (SR–
OCC–2015–013).
2 17
E:\FR\FM\31JYN1.SGM
31JYN1
]]>Agencies
[Federal Register Volume 80, Number 147 (Friday, July 31, 2015)]
[Notices]
[Pages 45689-45690]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-18765]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Submission of 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 31a-2; SEC File No. 270-174, OMB Control No. 3235-0179.
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 (the ``Commission'') has submitted to the Office of
Management and Budget a request for extension of the previously
approved collection of information discussed below.
Section 31(a)(1) of the Investment Company Act of 1940 (the
``Act'') (15 U.S.C. 80a-30(a)(1)) requires registered investment
companies (``funds'') and certain underwriters, broker-dealers,
investment advisers, and depositors to maintain and preserve records as
prescribed by Commission rules. Rule 31a-1 under the Act (17 CFR
270.31a-1) specifies the books and records that each of these entities
must maintain. Rule 31a-2 under the Act (17 CFR 270.31a-2), which was
adopted on April 17, 1944, specifies the time periods that entities
must retain certain books and records, including those required to be
maintained under rule 31a-1.
Rule 31a-2 requires the following:
1. Every fund must preserve permanently, and in an easily
accessible place for the first two years, all books and records
required under rule 31a-1(b)(1)-(4).\1\
---------------------------------------------------------------------------
\1\ These include, among other records, journals detailing daily
purchases and sales of securities, general and auxiliary ledgers
reflecting all asset, liability, reserve, capital, income and
expense accounts, separate ledgers reflecting separately for each
portfolio security as of the trade date all ``long'' and ``short''
positions carried by the fund for its own account, and corporate
charters, certificates of incorporation, by-laws and minute books.
---------------------------------------------------------------------------
2. Every fund must preserve for at least six years, and in an
easily accessible place for the first two years:
a. All books and records required under rule 31a-1(b)(5)-(12); \2\
---------------------------------------------------------------------------
\2\ These include, among other records, records of each
brokerage order given in connection with purchases and sales of
securities by the fund, records of all other portfolio purchases or
sales, records of all puts, calls, spreads, straddles or other
options in which the fund has an interest, has granted, or has
guaranteed, records of proof of money balances in all ledger
accounts, files of all advisory material received from the
investment adviser, and memoranda identifying persons, committees,
or groups authorizing the purchase or sale of securities for the
fund.
---------------------------------------------------------------------------
b. all vouchers, memoranda, correspondence, checkbooks, bank
statements, canceled checks, cash reconciliations, canceled stock
certificates, and all schedules evidencing and supporting each
computation of net asset value of fund shares, and other documents
required to be maintained by rule 31a-1(a) and not enumerated in rule
31a-1(b);
c. any advertisement, pamphlet, circular, form letter or other
sales literature addressed or intended for distribution to prospective
investors;
d. any record of the initial determination that a director is not
an interested person of the fund, and each subsequent determination
that the director is not an interested person of the fund, including
any questionnaire and any other document used to determine that a
director is not an interested person of the company;
e. any materials used by the disinterested directors of a fund to
determine that a person who is acting as legal counsel to those
directors is an independent legal counsel; and
f. any documents or other written information considered by the
directors of the fund pursuant to section 15(c) of the Act (15 U.S.C.
80a-15(c)) in approving the terms or renewal of a contract or agreement
between the fund and an investment advisor.\3\
---------------------------------------------------------------------------
\3\ Section 15 of the Act requires that fund directors,
including a majority of independent directors, annually approve the
fund's advisory contract and that the directors first obtain from
the adviser the information reasonably necessary to evaluate the
contract. The information request requirement in section 15 provides
fund directors, including independent directors, a tool for
obtaining the information they need to represent shareholder
interests.
---------------------------------------------------------------------------
3. Every underwriter, broker, or dealer that is a majority-owned
subsidiary of a fund must preserve records required to be preserved by
brokers and dealers under rules adopted under section 17 of the
Securities Exchange Act of 1934 (15 U.S.C. 78q) (``section 17'') for
the periods established in those rules.
4. Every depositor of a fund, and every principal underwriter of a
fund (other than a closed-end fund), must preserve for at least six
years records required to be maintained by brokers and dealers under
rules adopted under section 17 to the extent the records are necessary
or appropriate to record the entity's transactions with the fund.
5. Every investment adviser that is a majority-owned subsidiary of
a fund must preserve the records required to be preserved by investment
advisers under rules adopted under section 204 of the Investment
Advisers Act of 1940 (15 U.S.C. 80b-4) (``section 204'') for the
periods specified in those rules.
6. Every investment adviser that is not a majority-owned subsidiary
of a fund must preserve for at least six years records required to be
maintained by registered investment advisers under rules adopted under
section 204 to the extent the records are necessary or appropriate to
reflect the adviser's transactions with the fund.
The records required to be maintained and preserved under this part
may be maintained and preserved for the required time by, or on behalf
of, a fund on (i) micrographic media, including microfilm, microfiche,
or any similar medium, or (ii) electronic storage media, including any
digital storage medium or system that meets the terms of rule 31a-2(f).
The fund, or person that maintains and preserves records on its behalf,
must arrange and index the records in a way that permits easy location,
access, and retrieval of any particular record.\4\
---------------------------------------------------------------------------
\4\ In addition, the fund, or person who maintains and preserves
records for the fund, must provide promptly any of the following
that the Commission (by its examiners or other representatives) or
the directors of the fund may request: (A) A legible, true, and
complete copy of the record in the medium and format in which it is
stored; (B) a legible, true, and complete printout of the record;
and (C) means to access, view, and print the records; and must
separately store, for the time required for preservation of the
original record, a duplicate copy of the record on any medium
allowed by rule 31a-2(f). In the case of records retained on
electronic storage media, the fund, or person that maintains and
preserves records on its behalf, must establish and maintain
procedures: (i) To maintain and preserve the records, so as to
reasonably safeguard them from loss, alteration, or destruction;
(ii) to limit access to the records to properly authorized
personnel, the directors of the fund, and the Commission (including
its examiners and other representatives); and (iii) to reasonably
ensure that any reproduction of a non-electronic original record on
electronic storage media is complete, true, and legible when
retrieved.
---------------------------------------------------------------------------
[[Page 45690]]
We periodically inspect the operations of all funds to ensure their
compliance with the provisions of the Act and the rules under the Act.
Our staff spends a significant portion of its time in these inspections
reviewing the information contained in the books and records required
to be kept by rule 31a-1 and to be preserved by rule 31a-2.
There are 3146 funds currently operating as of December 31, 2014,
all of which are required to comply with rule 31a-2. Based on
conversations with representatives of the fund industry and past
estimates, our staff estimates that each fund currently spends 220
total hours per year complying with rule 31a-2. Our staff estimates
that the 220 hours spent by typical fund would be split evenly between
administrative and computer operation personnel,\5\ with 110 hours
spent by a general clerk at a rate of $57 per hour and 110 hours spent
by a senior computer operator at a rate of $87 per hour.\6\ Based on
these estimates, our staff estimates that the total annual burden for
all funds to comply with rule 31a-2 is 692,120 hours at an estimated
cost of $49,832,640.\7\
---------------------------------------------------------------------------
\5\ However, the hour burden may be incurred by a variety of
fund staff, and the type of staff position used for compliance with
the rule may vary widely from fund to fund.
\6\ The estimated salary rates are derived from SIFMA's Office
Salaries in the Securities Industry 2013, modified by Commission
staff to account for an 1800-hour work-year and multiplied by 2.93
to account for bonuses, firm size, employee benefits and overhead.
\7\ This estimate is based on the following calculations: 3146
funds x 220 hours = 692,120 total hours; 692,120 hours/2 = 346,060
hours; 346,060 x $57 rate per hour for a clerk = $19,725,420;
346,060 x $87 rate per hour for a computer operator = $30,107,220;
$19,725,420 + $30,107,220 = $49,832,640 total cost.
---------------------------------------------------------------------------
The hour burden estimates for retaining records under rule 31a-2
are based on our experience with registrants and our experience with
similar requirements under the Act and the rules under the Act. The
number of burden hours may vary depending on, among other things, the
complexity of the fund, the issues faced by the fund, and the number of
series and classes of the fund. The estimated average burden hours are
made solely for purposes of the Paperwork Reduction Act and are not
derived from quantitative, comprehensive, or even representative survey
or study of the burdens associated with our rules and forms.
Based on conversations with representatives of the fund industry
and past estimates, our staff estimates that the average cost of
preserving books and records required by rule 31a-2 is approximately
$74,782 annually per fund.\8\ As discussed previously, there are 3,146
funds currently operating, for a total cost of preserving records as
required by rule 31a-2 of approximately $235,264,172 per year.\9\ Our
staff understands, however, based on previous conversations with
representatives of the fund industry, that even in the absence of rule
31a-2 funds would already spend approximately half of this amount
($117,632,086) to preserve these same books and records, as they are
also necessary to prepare financial statements, meet various state
reporting requirements, and prepare their annual federal and state
income tax returns. Therefore, we estimate that the total annual cost
burden for all funds as a result of compliance with rule 31a-2 is
approximately $117,632,086 per year.
---------------------------------------------------------------------------
\8\ This estimate is based on staff's 2012 estimate of costs of
preserving books and records required by rule 31a-2 ($70,000),
adjusted for inflation to January 2015 values using the Personal
Consumption Expenditures Chain-Type Price Index (``PCE Index''). The
values of the PCE Index are available from the Bureau of Economic
Analysis, a bureau of the Department of Commerce. See Bureau of
Economic Analysis, Table 2.8.6. Real Personal Consumption
Expenditures by Major Type of Product, Monthly, Chained Dollars
(Last Revised on March 2, 2015), available at https://www.bea.gov/iTable/iTable.cfm?ReqID=9&step=1#reqid=9&step=3&isuri=1&903=83.
Thus, $70,000 (2012 estimate) x 11,163.6 (Jan. 2015 PCE Index
value)/10,449.7 (2012 PCE Index value) = $74,782 (Jan. 2015
inflation adjusted estimate).
\9\ This estimate is based on the following calculation: 3,146
funds x $74,782 = $235,264,172.
---------------------------------------------------------------------------
The estimate of average burden hours is made solely for the
purposes of the Paperwork Reduction Act, and is not derived from a
comprehensive or even a representative survey or study of the costs of
Commission rules and forms.
The collection of information under rule 31a-2 is mandatory for all
funds. 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) Pamela Dyson, 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: July 27, 2015.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-18765 Filed 7-30-15; 8:45 am]
BILLING CODE 8011-01-P
