Proposed Collection; Comment Request, 60754 [2016-21136]
Download as PDF
60754
Federal Register / Vol. 81, No. 171 / Friday, September 2, 2016 / Notices
Dated: August 31, 2016.
Denise L. McGovern,
Policy Coordinator, Office of the Secretary.
[FR Doc. 2016–21304 Filed 8–31–16; 4:15 pm]
BILLING CODE 7590–01–P
POSTAL SERVICE
Temporary Emergency Committee of
the Board of Governors; Sunshine Act
Meeting
Thursday, September
15, 2016, at 10:00 a.m.
PLACE: Las Vegas, Nevada.
STATUS: Closed.
MATTERS TO BE CONSIDERED:
DATES AND TIMES:
Thursday, September 15, 2016, at 10:00
a.m.
1. Strategic Issues.
2. Financial Matters.
3. Personnel Matters and
Compensation Issues.
4. Executive Session—Discussion of
prior agenda items and Board
governance.
GENERAL COUNSEL CERTIFICATION: The
General Counsel of the United States
Postal Service has certified that the
meeting may be closed under the
Government in the Sunshine Act.
CONTACT PERSON FOR MORE INFORMATION:
Julie S. Moore, Secretary of the Board,
U.S. Postal Service, 475 L’Enfant Plaza
SW., Washington, DC 20260–1000.
Telephone: (202) 268–4800.
Julie S. Moore,
Secretary.
[FR Doc. 2016–21244 Filed 8–31–16; 11:15 am]
BILLING CODE 7710–12–P
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of Investor
Education and Advocacy,
Washington, DC 20549–0213.
mstockstill on DSK3G9T082PROD with NOTICES
Extension:
Rule 17a–6, SEC File No. 270–506, OMB
Control No. 3235–0564.
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501), the Securities and
Exchange Commission (the
‘‘Commission’’) is soliciting comments
on the collections of information
summarized below. The Commission
plans to submit these existing
collections of information to the Office
VerDate Sep<11>2014
18:25 Sep 01, 2016
Jkt 238001
of Management and Budget (‘‘OMB’’) for
extension and approval.
Section 17(a) of the Investment
Company Act of 1940 (the ‘‘Act’’)
generally prohibits affiliated persons of
a registered investment company
(‘‘fund’’) from borrowing money or other
property from, or selling or buying
securities or other property to or from,
the fund or any company that the fund
controls.1 Rule 17a–6 (17 CFR 270.17a–
6) permits a fund and a ‘‘portfolio
affiliate’’ (a company that is an affiliated
person of the fund because the fund
controls the company, or holds five
percent or more of the company’s
outstanding voting securities) to engage
in principal transactions that would
otherwise be prohibited under section
17(a) of the Act under certain
conditions. A fund may not rely on the
exemption in the rule to enter into a
principal transaction with a portfolio
affiliate if certain prohibited
participants (e.g., directors, officers,
employees, or investment advisers of
the fund) have a financial interest in a
party to the transaction. Rule 17a–6
specifies certain interests that are not
‘‘financial interests,’’ including any
interest that the fund’s board of
directors (including a majority of the
directors who are not interested persons
of the fund) finds to be not material. A
board making this finding is required to
record the basis for the finding in its
meeting minutes. This recordkeeping
requirement is a collection of
information under the Paperwork
Reduction Act of 1995 (‘‘PRA’’).2
The rule is designed to permit
transactions between funds and their
portfolio affiliates in circumstances in
which it is unlikely that the affiliate
would be in a position to take advantage
of the fund. In determining whether a
financial interest is ‘‘material,’’ the
board of the fund should consider
whether the nature and extent of the
interest in the transaction is sufficiently
small that a reasonable person would
not believe that the interest affected the
determination of whether to enter into
the transaction or arrangement or the
terms of the transaction or arrangement.
The information collection requirements
in rule 17a–6 are intended to ensure that
Commission staff can review, in the
course of its compliance and
examination functions, the basis for a
board of director’s finding that the
financial interest of an otherwise
prohibited participant in a party to a
transaction with a portfolio affiliate is
not material.
1 15
2 44
PO 00000
Fmt 4703
Dated: August 29, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–21136 Filed 9–1–16; 8:45 am]
U.S.C. 80a–17(a).
U.S.C. 3501.
Frm 00086
Based on staff discussions with fund
representatives, we estimate that funds
currently do not rely on the exemption
from the term ‘‘financial interest’’ with
respect to any interest that the fund’s
board of directors (including a majority
of the directors who are not interested
persons of the fund) finds to be not
material. Accordingly, we estimate that
annually there will be no principal
transactions under rule 17a–6 that will
result in a collection of information.
The Commission requests
authorization to maintain an inventory
of one burden hour to ease future
renewals of rule 17a–6’s collection of
information analysis should funds rely
on this exemption to the term ‘‘financial
interest’’ as defined in rule 17a–6.
The estimate of burden hours is made
solely for the purposes of the Paperwork
Reduction Act. The estimate is not
derived from a comprehensive or even
a representative survey or study of the
costs of Commission rules. Complying
with this collection of information
requirement is necessary to obtain the
benefit of relying on rule 17a–6. 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.
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.
BILLING CODE 8011–01–P
Sfmt 9990
E:\FR\FM\02SEN1.SGM
02SEN1
Agencies
[Federal Register Volume 81, Number 171 (Friday, September 2, 2016)]
[Notices]
[Page 60754]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-21136]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of Investor Education and Advocacy, Washington, DC
20549-0213.
Extension:
Rule 17a-6, SEC File No. 270-506, OMB Control No. 3235-0564.
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501), the Securities and Exchange Commission
(the ``Commission'') is soliciting comments on the collections of
information summarized below. The Commission plans to submit these
existing collections of information to the Office of Management and
Budget (``OMB'') for extension and approval.
Section 17(a) of the Investment Company Act of 1940 (the ``Act'')
generally prohibits affiliated persons of a registered investment
company (``fund'') from borrowing money or other property from, or
selling or buying securities or other property to or from, the fund or
any company that the fund controls.\1\ Rule 17a-6 (17 CFR 270.17a-6)
permits a fund and a ``portfolio affiliate'' (a company that is an
affiliated person of the fund because the fund controls the company, or
holds five percent or more of the company's outstanding voting
securities) to engage in principal transactions that would otherwise be
prohibited under section 17(a) of the Act under certain conditions. A
fund may not rely on the exemption in the rule to enter into a
principal transaction with a portfolio affiliate if certain prohibited
participants (e.g., directors, officers, employees, or investment
advisers of the fund) have a financial interest in a party to the
transaction. Rule 17a-6 specifies certain interests that are not
``financial interests,'' including any interest that the fund's board
of directors (including a majority of the directors who are not
interested persons of the fund) finds to be not material. A board
making this finding is required to record the basis for the finding in
its meeting minutes. This recordkeeping requirement is a collection of
information under the Paperwork Reduction Act of 1995 (``PRA'').\2\
---------------------------------------------------------------------------
\1\ 15 U.S.C. 80a-17(a).
\2\ 44 U.S.C. 3501.
---------------------------------------------------------------------------
The rule is designed to permit transactions between funds and their
portfolio affiliates in circumstances in which it is unlikely that the
affiliate would be in a position to take advantage of the fund. In
determining whether a financial interest is ``material,'' the board of
the fund should consider whether the nature and extent of the interest
in the transaction is sufficiently small that a reasonable person would
not believe that the interest affected the determination of whether to
enter into the transaction or arrangement or the terms of the
transaction or arrangement. The information collection requirements in
rule 17a-6 are intended to ensure that Commission staff can review, in
the course of its compliance and examination functions, the basis for a
board of director's finding that the financial interest of an otherwise
prohibited participant in a party to a transaction with a portfolio
affiliate is not material.
Based on staff discussions with fund representatives, we estimate
that funds currently do not rely on the exemption from the term
``financial interest'' with respect to any interest that the fund's
board of directors (including a majority of the directors who are not
interested persons of the fund) finds to be not material. Accordingly,
we estimate that annually there will be no principal transactions under
rule 17a-6 that will result in a collection of information.
The Commission requests authorization to maintain an inventory of
one burden hour to ease future renewals of rule 17a-6's collection of
information analysis should funds rely on this exemption to the term
``financial interest'' as defined in rule 17a-6.
The estimate of burden hours is made solely for the purposes of the
Paperwork Reduction Act. The estimate is not derived from a
comprehensive or even a representative survey or study of the costs of
Commission rules. Complying with this collection of information
requirement is necessary to obtain the benefit of relying on rule 17a-
6. 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.
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: August 29, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-21136 Filed 9-1-16; 8:45 am]
BILLING CODE 8011-01-P