Proposed Collection; Comment Request, 9052 [2016-03641]

Download as PDF 9052 Federal Register / Vol. 81, No. 35 / Tuesday, February 23, 2016 / Notices proposed rule change, as modified by Partial Amendment No.1 (SR–FINRA– 2015–048) be, and it hereby is, approved on an accelerated basis. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.76 Robert W. Errett, Deputy Secretary. [FR Doc. 2016–03668 Filed 2–22–16; 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 20a–1, SEC File No. 270–132, OMB Control No. 3235–0158. 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’’) is soliciting comments on the collection 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. Rule 20a–1 (17 CFR 270.20a-1) was adopted under Section 20(a) of the Investment Company Act of 1940 (‘‘1940 Act’’) (15 U.S.C. 80a–20(a)) and concerns the solicitation of proxies, consents, and authorizations with respect to securities issued by registered investment companies (‘‘Funds’’). More specifically, rule 20a–1 under the 1940 Act (15 U.S.C. 80a–1 et seq.) requires that the solicitation of a proxy, consent, or authorization with respect to a security issued by a Fund be in compliance with Regulation 14A (17 CFR 240.14a–1 et seq.), Schedule 14A (17 CFR 240.14a–101), and all other rules and regulations adopted pursuant to section 14(a) of the Securities Exchange Act of 1934 (‘‘1934 Act’’) (15 U.S.C. 78n(a)). It also requires, in certain circumstances, a Fund’s investment adviser or a prospective adviser, and certain affiliates of the adviser or prospective adviser, to transmit to the person making the solicitation the information necessary to enable that person to comply with the rules and regulations applicable to the solicitation. In addition, rule 20a–1 76 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 17:06 Feb 22, 2016 Jkt 238001 instructs Funds that have made a public offering of securities and that hold security holder votes for which proxies, consents, or authorizations are not being solicited, to refer to section 14(c) of the 1934 Act (15 U.S.C. 78n(c)) and the information statement requirements set forth in the rules thereunder. The types of proposals voted upon by Fund shareholders include not only the typical matters considered in proxy solicitations made by operating companies, such as the election of directors, but also include issues that are unique to Funds, such as the approval of an investment advisory contract and the approval of changes in fundamental investment policies of the Fund. Through rule 20a–1, any person making a solicitation with respect to a security issued by a Fund must, similar to operating company solicitations, comply with the rules and regulations adopted pursuant to Section 14(a) of the 1934 Act. Some of those Section 14(a) rules and regulations, however, include provisions specifically related to Funds, including certain particularized disclosure requirements set forth in Item 22 of Schedule 14A under the 1934 Act. Rule 20a–1 is intended to ensure that investors in Fund securities are provided with appropriate information upon which to base informed decisions regarding the actions for which Funds solicit proxies. Without rule 20a–1, Fund issuers would not be required to comply with the rules and regulations adopted under Section 14(a) of the 1934 Act, which are applicable to non-Fund issuers, including the provisions relating to the form of proxy and disclosure in proxy statements. The staff currently estimates that approximately 1,196 proxy statements are filed by Funds annually. Based on staff estimates and information from the industry, the staff estimates that the average annual burden associated with the preparation and submission of proxy statements is 85 hours per response, for a total annual burden of 101,660 hours (1,196 responses × 85 hours per response = 101,660). In addition, the staff estimates the costs for purchased services, such as outside legal counsel, proxy statement mailing, and proxy tabulation services, to be approximately $30,000 per proxy solicitation. 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 PO 00000 Frm 00158 Fmt 4703 Sfmt 4703 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 17, 2016. Robert W. Errett, Deputy Secretary. [FR Doc. 2016–03641 Filed 2–22–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–77156; File No. SR–BYX– 2016–02] Self-Regulatory Organizations; BATS Y-Exchange, Inc.; Notice of Filing of a Proposed Rule Change To Amend the Certificate of Incorporation and Bylaws of the Exchange’s Ultimate Parent Company, BATS Global Markets, Inc. February 17, 2016. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on February 9, 2016, BATS Y-Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BYX’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II and III below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange filed a proposal to amend the certificate of incorporation and bylaws of the Exchange’s ultimate parent company, BATS Global Markets, Inc. (the ‘‘Corporation’’). The text of the proposed rule change is available at the Exchange’s Web site at www.batstrading.com, at the principal office of the Exchange, and at the Commission’s Public Reference Room. 1 15 2 17 E:\FR\FM\23FEN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 23FEN1

Agencies

[Federal Register Volume 81, Number 35 (Tuesday, February 23, 2016)]
[Notices]
[Page 9052]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-03641]


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

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 20a-1,
    SEC File No. 270-132, OMB Control No. 3235-0158.

    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'') is soliciting comments on the 
collection 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.
    Rule 20a-1 (17 CFR 270.20a-1) was adopted under Section 20(a) of 
the Investment Company Act of 1940 (``1940 Act'') (15 U.S.C. 80a-20(a)) 
and concerns the solicitation of proxies, consents, and authorizations 
with respect to securities issued by registered investment companies 
(``Funds''). More specifically, rule 20a-1 under the 1940 Act (15 
U.S.C. 80a-1 et seq.) requires that the solicitation of a proxy, 
consent, or authorization with respect to a security issued by a Fund 
be in compliance with Regulation 14A (17 CFR 240.14a-1 et seq.), 
Schedule 14A (17 CFR 240.14a-101), and all other rules and regulations 
adopted pursuant to section 14(a) of the Securities Exchange Act of 
1934 (``1934 Act'') (15 U.S.C. 78n(a)). It also requires, in certain 
circumstances, a Fund's investment adviser or a prospective adviser, 
and certain affiliates of the adviser or prospective adviser, to 
transmit to the person making the solicitation the information 
necessary to enable that person to comply with the rules and 
regulations applicable to the solicitation. In addition, rule 20a-1 
instructs Funds that have made a public offering of securities and that 
hold security holder votes for which proxies, consents, or 
authorizations are not being solicited, to refer to section 14(c) of 
the 1934 Act (15 U.S.C. 78n(c)) and the information statement 
requirements set forth in the rules thereunder.
    The types of proposals voted upon by Fund shareholders include not 
only the typical matters considered in proxy solicitations made by 
operating companies, such as the election of directors, but also 
include issues that are unique to Funds, such as the approval of an 
investment advisory contract and the approval of changes in fundamental 
investment policies of the Fund. Through rule 20a-1, any person making 
a solicitation with respect to a security issued by a Fund must, 
similar to operating company solicitations, comply with the rules and 
regulations adopted pursuant to Section 14(a) of the 1934 Act. Some of 
those Section 14(a) rules and regulations, however, include provisions 
specifically related to Funds, including certain particularized 
disclosure requirements set forth in Item 22 of Schedule 14A under the 
1934 Act.
    Rule 20a-1 is intended to ensure that investors in Fund securities 
are provided with appropriate information upon which to base informed 
decisions regarding the actions for which Funds solicit proxies. 
Without rule 20a-1, Fund issuers would not be required to comply with 
the rules and regulations adopted under Section 14(a) of the 1934 Act, 
which are applicable to non-Fund issuers, including the provisions 
relating to the form of proxy and disclosure in proxy statements.
    The staff currently estimates that approximately 1,196 proxy 
statements are filed by Funds annually. Based on staff estimates and 
information from the industry, the staff estimates that the average 
annual burden associated with the preparation and submission of proxy 
statements is 85 hours per response, for a total annual burden of 
101,660 hours (1,196 responses x 85 hours per response = 101,660). In 
addition, the staff estimates the costs for purchased services, such as 
outside legal counsel, proxy statement mailing, and proxy tabulation 
services, to be approximately $30,000 per proxy solicitation.
    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, 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 17, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-03641 Filed 2-22-16; 8:45 am]
 BILLING CODE 8011-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.