Agency Information Collection Activities; Submission for OMB Review; Comment Request; Prohibited Transaction Class Exemption for Certain Transactions Between Investment Companies and Employee Benefit Plans (PTE 1977-4), 71980-71981 [2019-28045]
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Federal Register / Vol. 84, No. 249 / Monday, December 30, 2019 / Notices
use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
e.g., permitting electronic submission of
responses.
Agency: DOL–EBSA.
Title of Collection: Plan Asset
Transactions Determined by
Independent Qualified Professional
Asset Managers under Prohibited
Transaction Exemption 1984–14.
OMB Control Number: 1210–0128.
Affected Public: Private Sector:
Businesses or other for-profits.
Total Estimated Number of
Respondents: 4,031.
Total Estimated Number of
Responses: 4,071.
Total Estimated Annual Time Burden:
96,774 hours.
Total Estimated Annual Other Costs
Burden: $40,311,395.
Authority: 44 U.S.C. 3507(a)(1)(D).
Dated: December 20, 2019.
Frederick Licari,
Departmental Clearance Officer.
[FR Doc. 2019–28049 Filed 12–27–19; 8:45 am]
BILLING CODE 4510–29–P
DEPARTMENT OF LABOR
Office of the Secretary
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Prohibited
Transaction Class Exemption for
Certain Transactions Between
Investment Companies and Employee
Benefit Plans (PTE 1977–4)
Notice of availability; request
for comments.
ACTION:
The Department of Labor
(DOL) is submitting the Employee
Benefits Security Administration
(EBSA) sponsored information
collection request (ICR) titled,
‘‘Prohibited Transaction Class
Exemption for Certain Transactions
Between Investment Companies and
Employee Benefit Plans (PTE 1977–4),’’
to the Office of Management and Budget
(OMB) for review and approval for
continued use, without change, in
accordance with the Paperwork
Reduction Act of 1995 (PRA). Public
comments on the ICR are invited.
DATES: The OMB will consider all
written comments that agency receives
on or before January 29, 2020.
ADDRESSES: A copy of this ICR with
applicable supporting documentation;
including a description of the likely
respondents, proposed frequency of
khammond on DSKJM1Z7X2PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
20:00 Dec 27, 2019
Jkt 250001
response, and estimated total burden
may be obtained free of charge from the
RegInfo.gov website at https://
www.reginfo.gov/public/do/
PRAViewICR?ref_nbr=201909-1210-005
(this link will only become active on the
day following publication of this notice)
or by contacting Frederick Licari by
telephone at 202–693–8073, TTY 202–
693–8064, (these are not toll-free
numbers) or by email at DOL_PRA_
PUBLIC@dol.gov.
Submit comments about this request
by mail to the Office of Information and
Regulatory Affairs, Attn: OMB Desk
Officer for DOL–EBSA, Office of
Management and Budget, Room 10235,
725 17th Street NW, Washington, DC
20503; by Fax: 202–395–5806 (this is
not a toll-free number); or by email:
OIRA_submission@omb.eop.gov.
Commenters are encouraged, but not
required, to send a courtesy copy of any
comments by mail or courier to the U.S.
Department of Labor-OASAM, Office of
the Chief Information Officer, Attn:
Departmental Information Compliance
Management Program, Room N1301,
200 Constitution Avenue NW,
Washington, DC 20210; or by email:
DOL_PRA_PUBLIC@dol.gov.
FOR FURTHER INFORMATION CONTACT:
Frederick Licari by telephone at 202–
693–8073, TTY 202–693–8064, (these
are not toll-free numbers) or by email at
DOL_PRA_PUBLIC@dol.gov.
SUPPLEMENTARY INFORMATION: This ICR
seeks to extend PRA authority for the
Prohibited Transaction Class Exemption
for Certain Transactions Between
Investment Companies and Employee
Benefit Plans (PTE 1977–4) information
collection. Prohibited Transaction
Exemption (PTE) 77–4 provides relief
from the restrictions of section 406 of
ERISA and from the sanctions resulting
from the application of section 4975 of
the Code, for an employee benefit plan’s
purchase or sale of shares of an openend
investment company registered under
the Investment Company Act of 1940
(mutual fund) when an investment
advisor for the mutual fund or its
affiliate is: (1) A plan fiduciary; and (2)
not an employer of employees covered
by the plan. Section II(d) of PTE 77–4
contains certain conditions for the
exemptive relief and provides, in
pertinent part, that: A second fiduciary
with respect to the plan, who is
independent of and unrelated to the
fiduciary/investment adviser or any
affiliate thereof, receives a current
prospectus issued by the investment
company, and full and detailed written
disclosure of the investment advisory
and other fees charged to or paid by the
plan and the investment company,
PO 00000
Frm 00091
Fmt 4703
Sfmt 4703
including the nature and extent of any
differential between the rates of such
fees, the reasons why the fiduciary/
investment adviser may consider such
purchases to be appropriate for the plan,
and whether there are any limitations
on the fiduciary/investment adviser
with respect to which plan assets may
be invested in shares of the investment
company and, if so, the nature of such
limitations. Delivery of a ‘‘summary
prospectus’’ may be used to satisfy the
condition in section II(d) of PTE 77–4
requiring the delivery of a mutual fund’s
prospectus to the second fiduciary if the
summary prospectus meets the
requirements of the Securities and
Exchange Commission’s (SEC) revised
disclosure provisions for mutual funds
including a summary prospectus rule
that were published in 2009. Pursuant
to the SEC’s revised disclosure
provisions, mutual funds also are
required to send the full prospectus to
the investor upon an investor’s request
and to provide the full prospectus online at a specified internet site.
This information collection is subject
to the PRA. A Federal agency generally
cannot conduct or sponsor a collection
of information, and the public is
generally not required to respond to an
information collection, unless the OMB
under the PRA approves it and displays
a currently valid OMB Control Number.
In addition, notwithstanding any other
provisions of law, no person shall
generally be subject to penalty for
failing to comply with a collection of
information that does not display a
valid Control Number. See 5 CFR
1320.5(a) and 1320.6. The DOL obtains
OMB approval for this information
collection under Control Number 1210–
0049.
OMB authorization for an ICR cannot
be for more than three (3) years without
renewal, and the current approval for
this collection is scheduled to expire on
December 31, 2019. The DOL seeks to
extend PRA authorization for this
information collection for three (3) more
years, without any change to existing
requirements. The DOL notes that
existing information collection
requirements submitted to the OMB
receive a month-to-month extension
while they undergo review. For
additional substantive information
about this ICR, see the related notice
published in the Federal Register on
March 27, 2019 (84 FR 11573).
Interested parties are encouraged to
send comments to the OMB, Office of
Information and Regulatory Affairs at
the address shown in the ADDRESSES
section within thirty-(30) days of
publication of this notice in the Federal
Register. In order to help ensure
E:\FR\FM\30DEN1.SGM
30DEN1
Federal Register / Vol. 84, No. 249 / Monday, December 30, 2019 / Notices
appropriate consideration, comments
should mention OMB Control Number
1210–0049. The OMB is particularly
interested in comments that:
• Evaluate 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:
• Evaluate the accuracy of the
agency’s estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used.
• Enhance the quality, utility, and
clarity of the information to be
collected; and
• Minimize the burden of the
collection of information on those who
are to respond, including through the
use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
e.g., permitting electronic submission of
responses.
Agency: DOL–EBSA.
Title of Collection: Prohibited
Transaction Class Exemption for Certain
Transactions Between Investment
Companies and Employee Benefit Plans
(PTE 1977–4).
OMB Control Number: 1210–0049.
Affected Public: Private Sector: Notfor-profit institutions; Businesses or
other for-profits.
Total Estimated Number of
Respondents: 846.
Total Estimated Number of
Responses: 279,653.
Total Estimated Annual Time Burden:
23,728 hours.
Total Estimated Annual Other Costs
Burden: $117,954.
Authority: 44 U.S.C. 3507(a)(1)(D).
Dated: December 20, 2019.
Frederick Licari,
Departmental Clearance Officer.
[FR Doc. 2019–28045 Filed 12–27–19; 8:45 am]
BILLING CODE 4510–29–P
khammond on DSKJM1Z7X2PROD with NOTICES
OFFICE OF MANAGEMENT AND
BUDGET
Draft 2018–2019–2020 Report to
Congress on the Benefits and Costs of
Federal Regulations and Agency
Compliance With the Unfunded
Mandates Reform Act
Office of Management and
Budget, Executive Office of the
President.
ACTION: Notice of availability and
request for comments.
AGENCY:
VerDate Sep<11>2014
20:00 Dec 27, 2019
Jkt 250001
The Office of Management
and Budget (OMB) requests comments
on its Draft 2018–2019–2020 Report to
Congress on the Benefits and Costs of
Federal Regulations and Agency
Compliance with the Unfunded
Mandates Reform Act, available at:
https://www.whitehouse.gov/omb/
information-regulatory-affairs/reports/.
The Draft Report is divided into two
parts, the first of which is further
divided into three chapters. Part I,
Chapter I examines the benefits and
costs of major Federal regulations issued
in fiscal years 2017, 2018 and 2019. Part
I, Chapter II discusses regulatory
impacts on State, Local, and tribal
governments, small business, wages and
employment, and economic growth. Part
I, Chapter III offers recommendations for
regulatory reform. Part II summarizes
agency compliance with the Unfunded
Mandates Reform Act. OMB requests
that comments be submitted
electronically to OMB by February 20,
2020, through www.regulations.gov
using Docket ID OMB–2019–0004.
DATES: To ensure consideration of
comments as OMB prepares this Draft
Report for submission to Congress,
comments must be in writing and
received by February 20, 2020.
ADDRESSES: Submit comments by one of
the following methods:
• www.regulations.gov: Direct
comments to Docket ID OMB–2019–
0004.
• Fax: (202) 395–7285
• Mail: Office of Information and
Regulatory Affairs, Office of
Management and Budget, New
Executive Office Building, 9th Floor,
725 17th Street NW, Washington, DC
20503. To ensure that your comments
are received, we recommend that
comments on this draft report be
electronically submitted.
All comments submitted in response to
this notice will be made available to the
public. For this reason, please do not
include in your comments information
of a confidential nature, such as
sensitive personal information or
proprietary information. The
www.regulations.gov website is an
‘‘anonymous access’’ system, which
means OMB will not know your identity
or contact information unless you
provide it in the body of your comment.
FOR FURTHER INFORMATION CONTACT: Italy
Martin, Office of Information and
Regulatory Affairs, Office of
Management and Budget, New
Executive Office Building, 9th Floor,
725 17th Street NW, Washington, DC
20503. Telephone: (202) 395–1046.
SUPPLEMENTARY INFORMATION: Congress
directed the Office of Management and
SUMMARY:
PO 00000
Frm 00092
Fmt 4703
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71981
Budget to prepare an annual Report to
Congress on the Benefits and Costs of
Federal Regulations. Specifically,
Section 628 of the FY 2000 Treasury
and General Government
Appropriations Act, also known as the
‘‘Regulatory Right-to-Know Act,’’
requires OMB to submit a report on the
benefits and costs of Federal regulations
together with recommendations for
reform. It states that the report should
contain estimates of the costs and
benefits of regulations in the aggregate,
by agency and agency program, and by
major rule, as well as an analysis of
impacts of Federal regulation on State,
local, and tribal governments, small
businesses, wages, and economic
growth. The Regulatory Right-to-Know
Act also states that the report should be
subject to notice and comment and to
peer review. Additionally, in
accordance the Unfunded Mandates
Reform Act of 1995 (UMRA), OMB
reports on agency compliance with
UMRA Title II, which generally requires
that an agency conduct a cost-benefit
analysis, and identify and consider a
reasonable number of regulatory
alternatives, before proposing or
finalizing a rule that may result in
expenditures of more than $100 million
(adjusted for inflation) in at least one
year by State, local, and tribal
governments, or by the private sector;
each agency must also seek input from
State, local, and tribal governments.
Dominic J. Mancini,
Acting Administrator, Office of Information
and Regulatory Affairs.
[FR Doc. 2019–28060 Filed 12–27–19; 8:45 am]
BILLING CODE 3110–01–P
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Notice of Permit Applications Received
Under the Antarctic Conservation Act
of 1978
National Science Foundation.
Notice of Permit Applications
Received.
AGENCY:
ACTION:
The National Science
Foundation (NSF) is required to publish
a notice of permit applications received
to conduct activities regulated under the
Antarctic Conservation Act of 1978.
NSF has published regulations under
the Antarctic Conservation Act in the
Code of Federal Regulations. This is the
required notice of permit applications
received.
DATES: Interested parties are invited to
submit written data, comments, or
views with respect to this permit
application by January 29, 2020. This
SUMMARY:
E:\FR\FM\30DEN1.SGM
30DEN1
]]>Agencies
[Federal Register Volume 84, Number 249 (Monday, December 30, 2019)]
[Notices]
[Pages 71980-71981]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-28045]
-----------------------------------------------------------------------
DEPARTMENT OF LABOR
Office of the Secretary
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Prohibited Transaction Class Exemption for
Certain Transactions Between Investment Companies and Employee Benefit
Plans (PTE 1977-4)
ACTION: Notice of availability; request for comments.
-----------------------------------------------------------------------
SUMMARY: The Department of Labor (DOL) is submitting the Employee
Benefits Security Administration (EBSA) sponsored information
collection request (ICR) titled, ``Prohibited Transaction Class
Exemption for Certain Transactions Between Investment Companies and
Employee Benefit Plans (PTE 1977-4),'' to the Office of Management and
Budget (OMB) for review and approval for continued use, without change,
in accordance with the Paperwork Reduction Act of 1995 (PRA). Public
comments on the ICR are invited.
DATES: The OMB will consider all written comments that agency receives
on or before January 29, 2020.
ADDRESSES: A copy of this ICR with applicable supporting documentation;
including a description of the likely respondents, proposed frequency
of response, and estimated total burden may be obtained free of charge
from the RegInfo.gov website at https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=201909-1210-005 (this link will only become active
on the day following publication of this notice) or by contacting
Frederick Licari by telephone at 202-693-8073, TTY 202-693-8064, (these
are not toll-free numbers) or by email at [email protected].
Submit comments about this request by mail to the Office of
Information and Regulatory Affairs, Attn: OMB Desk Officer for DOL-
EBSA, Office of Management and Budget, Room 10235, 725 17th Street NW,
Washington, DC 20503; by Fax: 202-395-5806 (this is not a toll-free
number); or by email: [email protected]. Commenters are
encouraged, but not required, to send a courtesy copy of any comments
by mail or courier to the U.S. Department of Labor-OASAM, Office of the
Chief Information Officer, Attn: Departmental Information Compliance
Management Program, Room N1301, 200 Constitution Avenue NW, Washington,
DC 20210; or by email: [email protected].
FOR FURTHER INFORMATION CONTACT: Frederick Licari by telephone at 202-
693-8073, TTY 202-693-8064, (these are not toll-free numbers) or by
email at [email protected].
SUPPLEMENTARY INFORMATION: This ICR seeks to extend PRA authority for
the Prohibited Transaction Class Exemption for Certain Transactions
Between Investment Companies and Employee Benefit Plans (PTE 1977-4)
information collection. Prohibited Transaction Exemption (PTE) 77-4
provides relief from the restrictions of section 406 of ERISA and from
the sanctions resulting from the application of section 4975 of the
Code, for an employee benefit plan's purchase or sale of shares of an
openend investment company registered under the Investment Company Act
of 1940 (mutual fund) when an investment advisor for the mutual fund or
its affiliate is: (1) A plan fiduciary; and (2) not an employer of
employees covered by the plan. Section II(d) of PTE 77-4 contains
certain conditions for the exemptive relief and provides, in pertinent
part, that: A second fiduciary with respect to the plan, who is
independent of and unrelated to the fiduciary/investment adviser or any
affiliate thereof, receives a current prospectus issued by the
investment company, and full and detailed written disclosure of the
investment advisory and other fees charged to or paid by the plan and
the investment company, including the nature and extent of any
differential between the rates of such fees, the reasons why the
fiduciary/investment adviser may consider such purchases to be
appropriate for the plan, and whether there are any limitations on the
fiduciary/investment adviser with respect to which plan assets may be
invested in shares of the investment company and, if so, the nature of
such limitations. Delivery of a ``summary prospectus'' may be used to
satisfy the condition in section II(d) of PTE 77-4 requiring the
delivery of a mutual fund's prospectus to the second fiduciary if the
summary prospectus meets the requirements of the Securities and
Exchange Commission's (SEC) revised disclosure provisions for mutual
funds including a summary prospectus rule that were published in 2009.
Pursuant to the SEC's revised disclosure provisions, mutual funds also
are required to send the full prospectus to the investor upon an
investor's request and to provide the full prospectus on-line at a
specified internet site.
This information collection is subject to the PRA. A Federal agency
generally cannot conduct or sponsor a collection of information, and
the public is generally not required to respond to an information
collection, unless the OMB under the PRA approves it and displays a
currently valid OMB Control Number. In addition, notwithstanding any
other provisions of law, no person shall generally be subject to
penalty for failing to comply with a collection of information that
does not display a valid Control Number. See 5 CFR 1320.5(a) and
1320.6. The DOL obtains OMB approval for this information collection
under Control Number 1210-0049.
OMB authorization for an ICR cannot be for more than three (3)
years without renewal, and the current approval for this collection is
scheduled to expire on December 31, 2019. The DOL seeks to extend PRA
authorization for this information collection for three (3) more years,
without any change to existing requirements. The DOL notes that
existing information collection requirements submitted to the OMB
receive a month-to-month extension while they undergo review. For
additional substantive information about this ICR, see the related
notice published in the Federal Register on March 27, 2019 (84 FR
11573).
Interested parties are encouraged to send comments to the OMB,
Office of Information and Regulatory Affairs at the address shown in
the ADDRESSES section within thirty-(30) days of publication of this
notice in the Federal Register. In order to help ensure
[[Page 71981]]
appropriate consideration, comments should mention OMB Control Number
1210-0049. The OMB is particularly interested in comments that:
Evaluate 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:
Evaluate the accuracy of the agency's estimate of the
burden of the proposed collection of information, including the
validity of the methodology and assumptions used.
Enhance the quality, utility, and clarity of the
information to be collected; and
Minimize the burden of the collection of information on
those who are to respond, including through the use of appropriate
automated, electronic, mechanical, or other technological collection
techniques or other forms of information technology, e.g., permitting
electronic submission of responses.
Agency: DOL-EBSA.
Title of Collection: Prohibited Transaction Class Exemption for
Certain Transactions Between Investment Companies and Employee Benefit
Plans (PTE 1977-4).
OMB Control Number: 1210-0049.
Affected Public: Private Sector: Not-for-profit institutions;
Businesses or other for-profits.
Total Estimated Number of Respondents: 846.
Total Estimated Number of Responses: 279,653.
Total Estimated Annual Time Burden: 23,728 hours.
Total Estimated Annual Other Costs Burden: $117,954.
Authority: 44 U.S.C. 3507(a)(1)(D).
Dated: December 20, 2019.
Frederick Licari,
Departmental Clearance Officer.
[FR Doc. 2019-28045 Filed 12-27-19; 8:45 am]
BILLING CODE 4510-29-P
