Proposed Collection; Comment Request, 2242-2243 [2018-00493]
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Federal Register / Vol. 83, No. 10 / Tuesday, January 16, 2018 / Notices
12g3–2 for a total annual reporting
burden of 37,206 hours (2.237 hours per
response × 16,632 responses).
Written comments are invited on: (a)
Whether this proposed collection of
information is necessary for the
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 imposed by 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.
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.
Please direct your written comment to
Pamela Dyson, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE, Washington,
DC 20549 or send an email to: PRA_
Mailbox@sec.gov.
Dated: January 9, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–00502 Filed 1–12–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–270, OMB Control No.
3235–0292]
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.
daltland on DSKBBV9HB2PROD with NOTICES
Extension:
Form F–6.
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
(‘‘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 approval.
Form F–6 (17 CFR 239.36) is a form
used by foreign companies to register
VerDate Sep<11>2014
22:48 Jan 12, 2018
Jkt 244001
the offer and sale of American
Depositary Receipts (ADRs) under the
Securities Act of 1933 (15 U.S.C. 77a et
seq.). Form F–6 requires disclosure of
information regarding the terms of the
depository bank, fees charged, and a
description of the ADRs. No special
information regarding the foreign
company is required to be prepared or
disclosed, although the foreign company
must be one which periodically
furnishes information to the
Commission. The information is needed
to ensure that investors in ADRs have
full disclosure of information
concerning the deposit agreement and
the foreign company. Form F–6 takes
approximately 1.35 hour per response to
prepare and is filed by 953 respondents
annually. We estimate that 25% of the
1.35 hour per response (0.338 hours) is
prepared by the filer for a total annual
reporting burden of 322 hours (0.338
hours per response x 953 responses).
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 imposed by 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.
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.
Please direct your written comments
to Pamela Dyson, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE, Washington,
DC 20549; or send an email to: PRA_
Mailbox@sec.gov.
Dated: January 8, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–00500 Filed 1–12–18; 8:45 am]
BILLING CODE 8011–01–P
PO 00000
Frm 00112
Fmt 4703
Sfmt 4703
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–236, OMB Control No.
3235–0222]
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 17f–1
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 collections of information
summarized below. The Commission
plans to submit these existing
collections of information to the Office
of Management and Budget for
extension and approval.
Rule 17f–1 (17 CFR 270.17f–1) under
the Investment Company Act of 1940
(the ‘‘Act’’) (15 U.S.C. 80a) is entitled:
‘‘Custody of Securities with Members of
National Securities Exchanges.’’ Rule
17f–1 provides that any registered
management investment company
(‘‘fund’’) that wishes to place its assets
in the custody of a national securities
exchange member may do so only under
a written contract that must be ratified
initially and approved annually by a
majority of the fund’s board of directors.
The written contract also must contain
certain specified provisions. In addition,
the rule requires an independent public
accountant to examine the fund’s assets
in the custody of the exchange member
at least three times during the fund’s
fiscal year. The rule requires the written
contract and the certificate of each
examination to be transmitted to the
Commission. The purpose of the rule is
to ensure the safekeeping of fund assets.
Commission staff estimates that each
fund makes 1 response and spends an
average of 3.5 hours annually in
complying with the rule’s requirements.
Commission staff estimates that on an
annual basis it takes: (i) 0.5 hours for the
board of directors 1 to review and ratify
the custodial contracts; and (ii) 3 hours
for the fund’s controller to assist the
fund’s independent public auditors in
verifying the fund’s assets.
1 Estimates of the number of hours are based on
conversations with representatives of mutual funds
that comply with the rule. The actual number of
hours may vary significantly depending on
individual fund assets. The hour burden for rule
17f–1 does not include preparing the custody
contract because that would be part of customary
and usual business practice.
E:\FR\FM\16JAN1.SGM
16JAN1
Federal Register / Vol. 83, No. 10 / Tuesday, January 16, 2018 / Notices
Approximately 6 funds rely on the rule
annually, with a total of 6 responses.2
Thus, the total annual hour burden for
rule 17f–1 is approximately 21 hours.3
Funds that rely on rule 17f–1
generally use outside counsel to prepare
the custodial contract for the board’s
review and to transmit the contract to
the Commission. Commission staff
estimates the cost of outside counsel to
perform these tasks for a fund each year
is $800.4 Funds also must have an
independent public accountant verify
the fund’s assets three times each year
and prepare the certificate of
examination. Commission staff
estimates the annual cost for an
independent public accountant to
perform this service is $8,500.5
Therefore, the total annual cost burden
for a fund that relies on rule 17f–1
would be approximately $9,300.6 As
noted above, the staff estimates that 4
funds rely on rule 17f–1 each year, for
an estimated total annualized cost
burden of $55,800.7
The estimate of average burden hours
is made solely for the purposes of the
Paperwork Reduction Act, and is not
derived from a comprehensive or even
a representative survey or study of the
costs of Commission rules. Compliance
with the collections of information
required by rule 17f–1 is mandatory for
funds that place their assets in the
custody of a national securities
exchange member. 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 Commission requests written
comments on: (a) Whether the
collections of information are necessary
for the proper performance of the
functions of the Commission, including
daltland on DSKBBV9HB2PROD with NOTICES
2 Based
on a review of Form N–17f–1 filings over
the last three years the Commission staff estimates
that an average of 4 funds rely on rule 17f–1 each
year.
3 This estimate is based on the following
calculation: (6 respondents × 3.5 hours = 21 hours).
The annual burden for rule 17f–1 does not include
time spent preparing Form N–17f–1. The burden for
Form N–17f–1 is included in a separate collection
of information.
4 This estimate is based on the following
calculation: (2 hours of outside counsel time × $400
= $800). The staff has estimated the average cost of
outside counsel at $400 per hour, based on
information received from funds, fund
intermediaries, and their counsel.
5 This estimate is based on information received
from fund representatives estimating the aggregate
annual cost of an independent public accountant’s
periodic verification of assets and preparation of the
certificate of examination.
6 This estimate is based on the following
calculation: ($800 + $8,500 = $9,300).
7 This estimate is based on the following
calculation: (6 funds × $9,300 = $55,800).
VerDate Sep<11>2014
22:48 Jan 12, 2018
Jkt 244001
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: January 9, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–00493 Filed 1–12–18; 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.
Extension:
Form 10–D, SEC File No. 270–544, OMB
Control No. 3235–0604.
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
(‘‘Commission’’) is soliciting comments
on this 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.
Form 10–D is a periodic report used
by asset-backed issuers to file
distribution and pool performance
information pursuant to Rule 13a–17 (17
CFR 240.13a–17) or Rule 15d–17 (17
CFR 240.15d–17) of the Securities
Exchange Act of 1934 (‘‘Exchange
Act’’)(15 U.S.C.78a et seq.). The form is
required to be filed within 15 days after
each required distribution date on the
asset-backed securities, as specified in
the governing documents for such
securities. The information provided by
Form 10–D is mandatory and all
PO 00000
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Fmt 4703
Sfmt 4703
2243
information is made available to the
public upon request. Form 10–D takes
approximately 30 hours per response to
prepare and is filed by approximately
2,169 respondents. Each respondent
files an estimated 4.343 Form 10–Ds per
year for a total of 9,420 responses. We
estimate that 75% of the 30 hours per
response (22.5 hours) is prepared by the
company for a total annual reporting
burden of 211,950 hours (22.5 hours per
response × 9,420 responses).
Written comments are invited on: (a)
Whether this 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 imposed by 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.
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.
Please direct your written comment to
Pamela Dyson, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE, Washington,
DC 20549 or send an email to: PRA_
Mailbox@sec.gov.
Dated: January 9, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–00497 Filed 1–12–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–429, OMB Control No.
3235–0480]
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 9b–1
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
E:\FR\FM\16JAN1.SGM
16JAN1
]]>Agencies
[Federal Register Volume 83, Number 10 (Tuesday, January 16, 2018)]
[Notices]
[Pages 2242-2243]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-00493]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-236, OMB Control No. 3235-0222]
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 17f-1
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
collections of information summarized below. The Commission plans to
submit these existing collections of information to the Office of
Management and Budget for extension and approval.
Rule 17f-1 (17 CFR 270.17f-1) under the Investment Company Act of
1940 (the ``Act'') (15 U.S.C. 80a) is entitled: ``Custody of Securities
with Members of National Securities Exchanges.'' Rule 17f-1 provides
that any registered management investment company (``fund'') that
wishes to place its assets in the custody of a national securities
exchange member may do so only under a written contract that must be
ratified initially and approved annually by a majority of the fund's
board of directors. The written contract also must contain certain
specified provisions. In addition, the rule requires an independent
public accountant to examine the fund's assets in the custody of the
exchange member at least three times during the fund's fiscal year. The
rule requires the written contract and the certificate of each
examination to be transmitted to the Commission. The purpose of the
rule is to ensure the safekeeping of fund assets.
Commission staff estimates that each fund makes 1 response and
spends an average of 3.5 hours annually in complying with the rule's
requirements. Commission staff estimates that on an annual basis it
takes: (i) 0.5 hours for the board of directors \1\ to review and
ratify the custodial contracts; and (ii) 3 hours for the fund's
controller to assist the fund's independent public auditors in
verifying the fund's assets.
[[Page 2243]]
Approximately 6 funds rely on the rule annually, with a total of 6
responses.\2\ Thus, the total annual hour burden for rule 17f-1 is
approximately 21 hours.\3\
---------------------------------------------------------------------------
\1\ Estimates of the number of hours are based on conversations
with representatives of mutual funds that comply with the rule. The
actual number of hours may vary significantly depending on
individual fund assets. The hour burden for rule 17f-1 does not
include preparing the custody contract because that would be part of
customary and usual business practice.
\2\ Based on a review of Form N-17f-1 filings over the last
three years the Commission staff estimates that an average of 4
funds rely on rule 17f-1 each year.
\3\ This estimate is based on the following calculation: (6
respondents x 3.5 hours = 21 hours). The annual burden for rule 17f-
1 does not include time spent preparing Form N-17f-1. The burden for
Form N-17f-1 is included in a separate collection of information.
---------------------------------------------------------------------------
Funds that rely on rule 17f-1 generally use outside counsel to
prepare the custodial contract for the board's review and to transmit
the contract to the Commission. Commission staff estimates the cost of
outside counsel to perform these tasks for a fund each year is $800.\4\
Funds also must have an independent public accountant verify the fund's
assets three times each year and prepare the certificate of
examination. Commission staff estimates the annual cost for an
independent public accountant to perform this service is $8,500.\5\
Therefore, the total annual cost burden for a fund that relies on rule
17f-1 would be approximately $9,300.\6\ As noted above, the staff
estimates that 4 funds rely on rule 17f-1 each year, for an estimated
total annualized cost burden of $55,800.\7\
---------------------------------------------------------------------------
\4\ This estimate is based on the following calculation: (2
hours of outside counsel time x $400 = $800). The staff has
estimated the average cost of outside counsel at $400 per hour,
based on information received from funds, fund intermediaries, and
their counsel.
\5\ This estimate is based on information received from fund
representatives estimating the aggregate annual cost of an
independent public accountant's periodic verification of assets and
preparation of the certificate of examination.
\6\ This estimate is based on the following calculation: ($800 +
$8,500 = $9,300).
\7\ This estimate is based on the following calculation: (6
funds x $9,300 = $55,800).
---------------------------------------------------------------------------
The estimate of average burden hours is made solely for the
purposes of the Paperwork Reduction Act, and is not derived from a
comprehensive or even a representative survey or study of the costs of
Commission rules. Compliance with the collections of information
required by rule 17f-1 is mandatory for funds that place their assets
in the custody of a national securities exchange member. 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 Commission requests written comments 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: [email protected].
Dated: January 9, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-00493 Filed 1-12-18; 8:45 am]
BILLING CODE 8011-01-P
