Proposed Collection; Comment Request;, 8766 [2016-03520]
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Federal Register / Vol. 81, No. 34 / Monday, February 22, 2016 / Notices
qualifies as a ‘‘financial institution’’ or
‘‘creditor’’ under Regulation S–ID (as
discussed above, certain collections of
information under Regulation S–ID are
mandatory only for financial
institutions or creditors that offer or
maintain covered accounts). Responses
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 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: February 16, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016–03519 Filed 2–19–16; 8:45 am]
BILLING CODE 8011–01–P
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.
mstockstill on DSK4VPTVN1PROD with NOTICES
Extension:
Rule 0–2, SEC File No. 270–572, OMB
Control No. 3235–0636.
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501–3520), the Securities
and Exchange Commission (the
‘‘Commission’’) is soliciting comments
on the collections of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Several sections of the Investment
Company Act of 1940 (‘‘Act’’ or
VerDate Sep<11>2014
19:03 Feb 19, 2016
Jkt 238001
‘‘Investment Company Act’’) 1 give the
Commission the authority to issue
orders granting exemptions from the
Act’s provisions. The section that grants
broadest authority is section 6(c), which
provides the Commission with authority
to conditionally or unconditionally
exempt persons, securities or
transactions from any provision of the
Investment Company Act, or the rules or
regulations thereunder, if and to the
extent that such exemption is necessary
or appropriate in the public interest and
consistent with the protection of
investors and the purposes fairly
intended by the policy and provisions of
the Act.2
Rule 0–2 under the Investment
Company Act,3 entitled ‘‘General
Requirements of Papers and
Applications,’’ prescribes general
instructions for filing an application
seeking exemptive relief with the
Commission for which a form is not
specifically prescribed. Rule 0–2
requires that each application filed with
the commission have (a) a statement of
authorization to file and sign the
application on behalf of the applicant,
(b) a verification of application and
statements of fact, (c) a brief statement
of the grounds for application, and (d)
the name and address of each applicant
and of any person to whom questions
should be directed. The Commission
uses the information required by rule 0–
2 to decide whether the applicant
should be deemed to be entitled to the
action requested by the application.
Applicants for orders can include
registered investment companies,
affiliated persons of registered
investment companies, and issuers
seeking to avoid investment company
status, among other entities.
Commission staff estimates that it
receives approximately 184 applications
per year under the Act. Although each
application typically is submitted on
behalf of multiple entities, the entities
in the vast majority of cases are related
companies and are treated as a single
respondent for purposes of this analysis.
The time to prepare an application
depends on the complexity and/or
novelty of the issues covered by the
application. We estimate that the
Commission receives 25 of the most
time-consuming applications annually,
125 applications of medium difficulty,
and 34 of the least difficult applications.
Based on conversations with applicants,
we estimate that in-house counsel
would spend from ten to fifty hours
helping to draft and review an
application. We estimate a total annual
hour burden to all respondents of 5,340
hours [(50 hours × 25 applications) + (30
hours × 125 applications) + (10 hours ×
34 applications)].
Much of the work of preparing an
application is performed by outside
counsel. The cost outside counsel
charges applicants depends on the
complexity of the issues covered by the
application and the time required for
preparation. Based on conversations
with attorneys who serve as outside
counsel, the cost ranges from
approximately $10,000 for preparing a
well-precedented, routine application to
approximately $150,000 to prepare a
complex and/or novel application. This
distribution gives a total estimated
annual cost burden to applicants of
filing all applications of $14,090,000
[(25 × $150,000) + (125 × $80,000) + (34
× $10,000)].
We request written comment on: (a)
Whether the collections of information
are necessary for the proper
performance of the functions of the
Commission, including whether the
information has practical utility; (b) the
accuracy of the Commission’s estimate
of the burdens 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, 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: February 16, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016–03520 Filed 2–19–16; 8:45 am]
BILLING CODE P
1 15
U.S.C. 80a–1 et seq.
U.S.C. 80a–6(c).
3 17 CFR 270.0–2.
2 15
PO 00000
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]]>Agencies
[Federal Register Volume 81, Number 34 (Monday, February 22, 2016)]
[Notices]
[Page 8766]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-03520]
-----------------------------------------------------------------------
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 0-2, SEC File No. 270-572, OMB Control No. 3235-0636.
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501-3520), the Securities and Exchange
Commission (the ``Commission'') is soliciting comments on the
collections of information summarized below. The Commission plans to
submit this existing collection of information to the Office of
Management and Budget for extension and approval.
Several sections of the Investment Company Act of 1940 (``Act'' or
``Investment Company Act'') \1\ give the Commission the authority to
issue orders granting exemptions from the Act's provisions. The section
that grants broadest authority is section 6(c), which provides the
Commission with authority to conditionally or unconditionally exempt
persons, securities or transactions from any provision of the
Investment Company Act, or the rules or regulations thereunder, if and
to the extent that such exemption is necessary or appropriate in the
public interest and consistent with the protection of investors and the
purposes fairly intended by the policy and provisions of the Act.\2\
---------------------------------------------------------------------------
\1\ 15 U.S.C. 80a-1 et seq.
\2\ 15 U.S.C. 80a-6(c).
---------------------------------------------------------------------------
Rule 0-2 under the Investment Company Act,\3\ entitled ``General
Requirements of Papers and Applications,'' prescribes general
instructions for filing an application seeking exemptive relief with
the Commission for which a form is not specifically prescribed. Rule 0-
2 requires that each application filed with the commission have (a) a
statement of authorization to file and sign the application on behalf
of the applicant, (b) a verification of application and statements of
fact, (c) a brief statement of the grounds for application, and (d) the
name and address of each applicant and of any person to whom questions
should be directed. The Commission uses the information required by
rule 0-2 to decide whether the applicant should be deemed to be
entitled to the action requested by the application.
---------------------------------------------------------------------------
\3\ 17 CFR 270.0-2.
---------------------------------------------------------------------------
Applicants for orders can include registered investment companies,
affiliated persons of registered investment companies, and issuers
seeking to avoid investment company status, among other entities.
Commission staff estimates that it receives approximately 184
applications per year under the Act. Although each application
typically is submitted on behalf of multiple entities, the entities in
the vast majority of cases are related companies and are treated as a
single respondent for purposes of this analysis.
The time to prepare an application depends on the complexity and/or
novelty of the issues covered by the application. We estimate that the
Commission receives 25 of the most time-consuming applications
annually, 125 applications of medium difficulty, and 34 of the least
difficult applications. Based on conversations with applicants, we
estimate that in-house counsel would spend from ten to fifty hours
helping to draft and review an application. We estimate a total annual
hour burden to all respondents of 5,340 hours [(50 hours x 25
applications) + (30 hours x 125 applications) + (10 hours x 34
applications)].
Much of the work of preparing an application is performed by
outside counsel. The cost outside counsel charges applicants depends on
the complexity of the issues covered by the application and the time
required for preparation. Based on conversations with attorneys who
serve as outside counsel, the cost ranges from approximately $10,000
for preparing a well-precedented, routine application to approximately
$150,000 to prepare a complex and/or novel application. This
distribution gives a total estimated annual cost burden to applicants
of filing all applications of $14,090,000 [(25 x $150,000) + (125 x
$80,000) + (34 x $10,000)].
We request written comment on: (a) Whether the collections of
information are necessary for the proper performance of the functions
of the Commission, including whether the information has practical
utility; (b) the accuracy of the Commission's estimate of the burdens
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, 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: February 16, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-03520 Filed 2-19-16; 8:45 am]
BILLING CODE P
