Submission for OMB Review; Comment Request, 26850-26851 [2016-10368]

Download as PDF asabaliauskas on DSK3SPTVN1PROD with NOTICES 26850 Federal Register / Vol. 81, No. 86 / Wednesday, May 4, 2016 / Notices exchanges and national securities associations that trade security futures products to establish listing standards that, among other things, require that: (i) Trading in such products not be readily susceptible to price manipulation; and (ii) the market on which the security futures product trades has in place procedures to coordinate trading halts with the listing market for the security or securities underlying the security futures product. Rule 6h–1 implements these statutory requirements and requires that (1) the final settlement price for each cash-settled security futures product fairly reflect the opening price of the underlying security or securities, and (2) the exchanges and associations trading security futures products halt trading in any security futures product for as long as trading in the underlying security, or trading in 50% or more of the underlying securities, is halted on the listing market. It is estimated that approximately 1 respondent, consisting of a designated contract market not already registered as a national securities exchange under Section 6(g) of the Exchange Act that seeks to list or trade security futures products, will incur an average burden of 10 hours per year to comply with this rule, for a total burden of 10 hours. At an average cost per hour of approximately $387, the resultant total cost of compliance for the respondents is $3,870 per year (1 respondent × 10 hours/respondent × $387/hour). Compliance with Rule 6h–1 is mandatory. Any listing standards established pursuant to Rule 6h–1 would be filed with the Commission as proposed rule changes pursuant to Section 19(b) of the Act and would be published in the Federal Register. 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. The public may view 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 by sending an email to: PRA_ Mailbox@sec.gov. Comments must be VerDate Sep<11>2014 18:44 May 03, 2016 Jkt 238001 submitted to OMB within 30 days of this notice. Dated: April 28, 2016. Robert W. Errett, Deputy Secretary. [FR Doc. 2016–10365 Filed 5–3–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Submission for 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 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. 3501–3520), the Securities and Exchange Commission has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. 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. PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 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. Rule 20a–1 does not involve any recordkeeping requirements. Providing the information required by the rule is mandatory and information provided under the rule 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 E:\FR\FM\04MYN1.SGM 04MYN1 Federal Register / Vol. 81, No. 86 / Wednesday, May 4, 2016 / Notices 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: April 26, 2016. Robert W. Errett, Deputy Secretary. [FR Doc. 2016–10368 Filed 5–3–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release Nos. 33–10074; 34–77743; File No. 265–27] SEC Advisory Committee on Small and Emerging Companies Securities and Exchange Commission. ACTION: Notice of meeting. AGENCY: The Securities and Exchange Commission Advisory Committee on Small and Emerging Companies is providing notice that it will hold a public meeting on Wednesday, May 18, 2016, in Multi-Purpose Room LL–006 at the Commission’s headquarters, 100 F Street NE., Washington, DC. The meeting will begin at 9:30 a.m. (EDT) and will be open to the public. The meeting will be webcast on the Commission’s Web site at www.sec.gov. Persons needing special accommodations to take part because of a disability should notify the contact person listed below. The public is invited to submit written statements to the Committee. The agenda for the meeting includes matters relating to rules and regulations affecting small and emerging companies under the federal securities laws. DATES: The public meeting will be held on Wednesday, May 18, 2016. Written statements should be received on or before May 16, 2016. ADDRESSES: The meeting will be held at the Commission’s headquarters, 100 F Street NE., Washington, DC. Written statements may be submitted by any of the following methods: asabaliauskas on DSK3SPTVN1PROD with NOTICES SUMMARY: • Send an email message to rulecomments@sec.gov. Please include File Number 265–27 on the subject line; or Paper Statements • Send paper statements to Brent J. Fields, Federal Advisory Committee Management Officer, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File No. 265–27. This file number should be included on the subject line if email is used. To help us process and review your statement more efficiently, please use only one method. The Commission will post all statements on the Advisory Committee’s Web site (https:// www.sec.gov/spotlight/acsecspotlight.shtml). Statements also will be available for Web site viewing and printing in the Commission’s Public Reference Room, 100 F Street NE., Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. All statements received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. Julie Z. Davis, Senior Special Counsel, at (202) 551–3460, Office of Small Business Policy, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–3628. FOR FURTHER INFORMATION CONTACT: In accordance with Section 10(a) of the Federal Advisory Committee Act, 5 U.S.C.—App. 1, and the regulations thereunder, Keith Higgins, Designated Federal Officer of the Committee, has ordered publication of this notice. SUPPLEMENTARY INFORMATION: Dated: April 29, 2016. Brent J. Fields, Committee Management Officer. BILLING CODE 8011–01–P Electronic Statements • Use the Commission’s Internet submission form (https://www.sec.gov/ info/smallbus/acsec.shtml); or VerDate Sep<11>2014 18:44 May 03, 2016 Jkt 238001 PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION [Release No 34–77744; File No. SR–MSRB– 2016–04] Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Order Granting Approval of a Proposed Rule Change Consisting of Proposed Amendments to Rules G–12 and G–15 To Define Regular-Way Settlement for Municipal Securities Transactions as Occurring on a TwoDay Settlement Cycle and Technical Conforming Amendments April 29, 2016. I. Introduction On March 1, 2016, the Municipal Securities Rulemaking Board (the ‘‘MSRB’’ or ‘‘Board’’) filed with the Securities and Exchange Commission (the ‘‘SEC’’ or ‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change consisting of proposed amendments to the MSRB Rules G–12 and G–15 to define regular-way settlement for municipal securities transactions as occurring on a two-day settlement cycle and technical conforming amendments (the ‘‘proposed rule change’’). The proposed rule change was published for comment in the Federal Register on March 18, 2016.3 The Commission received four comment letters on the proposed rule change.4 This order approves the proposed rule change. II. Description of the Proposed Rule Change The MSRB’s proposed rule change consists of proposed amendments to Rule G–12, on uniform practice, and Rule G–15, on confirmation, clearance, settlement and other uniform practice requirements with respect to transactions with customers, to define 1 15 [FR Doc. 2016–10406 Filed 5–3–16; 8:45 am] 26851 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 Securities Exchange Act Release No. 77364 (Mar. 14, 2016), 81 FR 14906 (Mar. 18, 2016) (the ‘‘Notice of Filing’’). 4 See Letters from Martin A. Burns, Chief Industry Operations Officer, Investment Company Institute (‘‘ICI’’), dated April 4, 2016 (‘‘ICI Letter’’); Michael Nicholas, Chief Executive Office, Bond Dealers of America (‘‘BDA’’), dated April 8, 2016 (‘‘BDA Letter’’); Leslie M. Norwood, Managing Director and Associate General Counsel, Securities Industry Financial Markets Association (‘‘SIFMA’’), dated April 8, 2016 (‘‘SIFMA Letter’’); David T. Bellaire, Executive Vice President & General Counsel, Financial Services Institute (‘‘FSI’’), dated April 8, 2016 (‘‘FSI Letter’’ and, together with the BDA Letter, the ICI Letter, and the SIFMA Letter, the ‘‘Comment Letters’’). 2 17 E:\FR\FM\04MYN1.SGM 04MYN1

Agencies

[Federal Register Volume 81, Number 86 (Wednesday, May 4, 2016)]
[Notices]
[Pages 26850-26851]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-10368]


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

SECURITIES AND EXCHANGE COMMISSION


Submission for 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 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. 3501-3520), the Securities and Exchange 
Commission has submitted to the Office of Management and Budget a 
request for extension of the previously approved collection of 
information discussed below.
    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.
    Rule 20a-1 does not involve any recordkeeping requirements. 
Providing the information required by the rule is mandatory and 
information provided under the rule 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

[[Page 26851]]

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: April 26, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-10368 Filed 5-3-16; 8:45 am]
 BILLING CODE 8011-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.