Submission for OMB Review; Comment Request, 83901 [2016-28026]
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Federal Register / Vol. 81, No. 225 / Tuesday, November 22, 2016 / Notices
Fund to sell its shares to and redeem its
shares from a Fund of Funds, and to
engage in the accompanying in-kind
transactions with the Fund of Funds.2
The purchase of Creation Units by a
Fund of Funds directly from a Fund will
be accomplished in accordance with the
policies of the Fund of Funds and will
be based on the NAVs of the Funds.
9. Applicants also request relief to
permit a Feeder Fund to acquire shares
of another registered investment
company managed by the Adviser
having substantially the same
investment objectives as the Feeder
Fund (‘‘Master Fund’’) beyond the
limitations in section 12(d)(1)(A) and
permit the Master Fund, and any
principal underwriter for the Master
Fund, to sell shares of the Master Fund
to the Feeder Fund beyond the
limitations in section 12(d)(1)(B).
10. Section 6(c) of the Act permits the
Commission to exempt any persons or
transactions from any provision of the
Act if 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. Section 12(d)(1)(J) of the Act
provides that the Commission may
exempt any person, security, or
transaction, or any class or classes of
persons, securities, or transactions, from
any provision of section 12(d)(1) if the
exemption is consistent with the public
interest and the protection of investors.
Section 17(b) of the Act authorizes the
Commission to grant an order
permitting a transaction otherwise
prohibited by section 17(a) if it finds
that (a) the terms of the proposed
transaction are fair and reasonable and
do not involve overreaching on the part
of any person concerned; (b) the
proposed transaction is consistent with
the policies of each registered
investment company involved; and (c)
the proposed transaction is consistent
with the general purposes of the Act.
For the Commission, by the Division of
Investment Management, under delegated
authority.
Brent J. Fields,
Secretary.
[FR Doc. 2016–28029 Filed 11–21–16; 8:45 am]
sradovich on DSK3GMQ082PROD with NOTICES
BILLING CODE 8011–01–P
2 The requested relief would apply to direct sales
of shares in Creation Units by a Fund to a Fund of
Funds and redemptions of those shares. Applicants,
moreover, are not seeking relief from section 17(a)
for, and the requested relief will not apply to,
transactions where a Fund could be deemed an
Affiliated Person, or a Second-Tier Affiliate, of a
Fund of Funds because an Adviser or an entity
controlling, controlled by or under common control
with an Adviser provides investment advisory
services to that Fund of Funds.
VerDate Sep<11>2014
16:52 Nov 21, 2016
Jkt 241001
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 17f–1(g); SEC File No. 270–30, OMB
Control No. 3235–0290.
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501et seq.) (‘‘PRA’’), the
Securities and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for approval of
extension of the previously approved
collection of information provided for in
Rule 17f–1(g) (17 CFR 240.17f–1(g)),
under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.).
Rule 17f–1(g) requires that all
reporting institutions (i.e., every
national securities exchange, member
thereof, registered securities association,
broker, dealer, municipal securities
dealer, registered transfer agent,
registered clearing agency, participant
therein, member of the Federal Reserve
System, and bank insured by the FDIC)
maintain and preserve a number of
documents related to their participation
in the Lost and Stolen Securities
Program (‘‘Program’’) under Rule 17f–1.
The following documents must be kept
in an easily accessible place for three
years, according to paragraph (g): (1)
Copies of all reports of theft or loss
(Form X–17F–1A) filed with the
Commission’s designee: (2) All
agreements between reporting
institutions regarding registration in the
Program or other aspects of Rule 17f–1;
and (3) all confirmations or other
information received from the
Commission or its designee as a result
of inquiry.
Reporting institutions utilize these
records and reports (a) to report missing,
lost, stolen or counterfeit securities to
the database, (b) to confirm inquiry of
the database, and (c) to demonstrate
compliance with Rule 17f–1. The
Commission and the reporting
institutions’ examining authorities
utilize these records to monitor the
incidence of thefts and losses incurred
by reporting institutions and to
determine compliance with Rule 17f–1.
If such records were not retained by
reporting institutions, compliance with
Rule 17f–1 could not be monitored
effectively.
PO 00000
Frm 00105
Fmt 4703
Sfmt 9990
83901
The Commission estimates that there
are approximately 12,971 reporting
institutions (respondents) and, on
average, each respondent would need to
retain 33 records annually, with each
retention requiring approximately 1
minute (a total of 33 minutes or 0.55
hours per respondent per year). Thus,
the total estimated annual time burden
for all respondents is 7,134 hours
(12,971 × 0.55 hours = 7,134). Assuming
an average hourly cost for clerical work
of $50.00, the average total yearly record
retention cost of compliance for each
respondent would be $27.50 ($50 × 0.55
hours). Based on these estimates, the
total annual compliance cost for the
estimated 12,971 reporting institutions
would be approximately $356,702
(12,971 × $27.50).
Rule 17f–1(g) does not require
periodic collection, but it does require
retention of records generated as a result
of compliance with Rule 17f–1. Under
Section 17(b) and (f) of the Act, the
information required by Rule 17f–1(g) is
available to the Commission and
Federal bank regulators for
examinations or collection purposes.
Rule 0–4 of the Securities Exchange Act
deems such information to be
confidential.
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
submitted within 30 days of this notice.
Dated: November 16, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016–28026 Filed 11–21–16; 8:45 am]
BILLING CODE 8011–01–P
E:\FR\FM\22NON1.SGM
22NON1
]]>Agencies
[Federal Register Volume 81, Number 225 (Tuesday, November 22, 2016)]
[Notices]
[Page 83901]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-28026]
-----------------------------------------------------------------------
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 17f-1(g); SEC File No. 270-30, OMB Control No. 3235-0290.
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501et seq.) (``PRA''), the Securities and
Exchange Commission (``Commission'') has submitted to the Office of
Management and Budget (``OMB'') a request for approval of extension of
the previously approved collection of information provided for in Rule
17f-1(g) (17 CFR 240.17f-1(g)), under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.).
Rule 17f-1(g) requires that all reporting institutions (i.e., every
national securities exchange, member thereof, registered securities
association, broker, dealer, municipal securities dealer, registered
transfer agent, registered clearing agency, participant therein, member
of the Federal Reserve System, and bank insured by the FDIC) maintain
and preserve a number of documents related to their participation in
the Lost and Stolen Securities Program (``Program'') under Rule 17f-1.
The following documents must be kept in an easily accessible place for
three years, according to paragraph (g): (1) Copies of all reports of
theft or loss (Form X-17F-1A) filed with the Commission's designee: (2)
All agreements between reporting institutions regarding registration in
the Program or other aspects of Rule 17f-1; and (3) all confirmations
or other information received from the Commission or its designee as a
result of inquiry.
Reporting institutions utilize these records and reports (a) to
report missing, lost, stolen or counterfeit securities to the database,
(b) to confirm inquiry of the database, and (c) to demonstrate
compliance with Rule 17f-1. The Commission and the reporting
institutions' examining authorities utilize these records to monitor
the incidence of thefts and losses incurred by reporting institutions
and to determine compliance with Rule 17f-1. If such records were not
retained by reporting institutions, compliance with Rule 17f-1 could
not be monitored effectively.
The Commission estimates that there are approximately 12,971
reporting institutions (respondents) and, on average, each respondent
would need to retain 33 records annually, with each retention requiring
approximately 1 minute (a total of 33 minutes or 0.55 hours per
respondent per year). Thus, the total estimated annual time burden for
all respondents is 7,134 hours (12,971 x 0.55 hours = 7,134). Assuming
an average hourly cost for clerical work of $50.00, the average total
yearly record retention cost of compliance for each respondent would be
$27.50 ($50 x 0.55 hours). Based on these estimates, the total annual
compliance cost for the estimated 12,971 reporting institutions would
be approximately $356,702 (12,971 x $27.50).
Rule 17f-1(g) does not require periodic collection, but it does
require retention of records generated as a result of compliance with
Rule 17f-1. Under Section 17(b) and (f) of the Act, the information
required by Rule 17f-1(g) is available to the Commission and Federal
bank regulators for examinations or collection purposes. Rule 0-4 of
the Securities Exchange Act deems such information to be confidential.
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 submitted within 30
days of this notice.
Dated: November 16, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-28026 Filed 11-21-16; 8:45 am]
BILLING CODE 8011-01-P
