National Small Business Development Centers Advisory Board, 8086 [2020-02732]
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8086
Federal Register / Vol. 85, No. 29 / Wednesday, February 12, 2020 / Notices
Commission estimates that a fund
complex will incur a one time average
burden of 40 hours associated with
documenting the liquidity risk
management programs adopted by each
fund within a fund complex, in addition
to a one time burden of 10 hours per
fund complex associated with fund
boards’ review and approval of the
funds’ liquidity risk management
programs and preparation of board
materials. We estimate that the total
burden for initial documentation and
review of funds’ written liquidity risk
management program will be 42,300
hours.
Rule 22e–4 requires any fund that
does not primarily hold assets that are
highly liquid investments to determine
a highly liquid investment minimum for
the fund, which must be reviewed at
least annually, and may not be changed
during any period of time that a fund’s
assets that are highly liquid investments
are below the determined minimum
without approval from the fund’s board
of directors. We estimate that fund
complexes will have at least one fund
that will be subject to the highly liquid
investment minimum requirement.
Thus, we estimate that 846 fund
complexes will be subject to this
requirement under rule 22e–4 and that
the total burden for preparation of the
board report associated will be 11,844
hours.
Rule 22e–4 requires a fund or In-Kind
ETF to maintain a written copy of the
policies and procedures adopted
pursuant to its liquidity risk
management program for five years in
an easily accessible place. The rule also
requires a fund to maintain copies of
materials provided to the board in
connection with its initial approval of
the liquidity risk management program
and any written reports provided to the
board, for at least five years, the first
two years in an easily accessible place.
If applicable, a fund must also maintain
a written record of how its highly liquid
investment minimum and any
adjustments to the minimum were
determined, as well as any reports to the
board regarding a shortfall in the fund’s
highly liquid investment minimum, for
five years, the first two years in an
easily accessible place. We estimate that
the total burden for recordkeeping
related to the liquidity risk management
program requirement of rule 22e–4 will
be 3,384 hours.
We estimate that the hour burdens
and time costs associated with rule 22e–
4 for open-end funds, including the
burden associated with (1) funds’ initial
documentation and review of the
required written liquidity risk
management program, (2) reporting to a
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fund’s board regarding the fund’s highly
liquid investment minimum, and (3)
recordkeeping requirements will result
in an average aggregate annual burden
of 25,380 hours,
UITs may in some circumstances be
subject to liquidity risk (particularly
where the UIT is not a pass-through
vehicle and the sponsor does not
maintain an active secondary market for
UIT shares). On or before the date of
initial deposit of portfolio securities into
a registered UIT, the UIT’s principal
underwriter or depositor is required to
determine that the portion of the
illiquid investments that the UIT holds
or will hold at the date of deposit that
are assets is consistent with the
redeemable nature of the securities it
issues, and maintain a record of that
determination for the life of the UIT and
for five years thereafter. We estimate
that 1,385 newly registered UITs will be
subject to the UIT liquidity
determination requirement under rule
22e–4 each year. We estimate that the
total burden for the initial
documentation and review of UIT
funds’ written liquidity risk
management program would be 13,850
hours. We estimate that the total burden
for recordkeeping related to UIT
liquidity risk management programs
will be 2,770 hours.
Compliance with the collection of
information requirements of the rule is
necessary to obtain the benefit of relying
on the rule. ‘‘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 website,
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:
Lindsay.M.Abate@omb.eop.gov; and (ii)
David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Cynthia
Roscoe, 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: February 6, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
PO 00000
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National Small Business Development
Centers Advisory Board
Small Business Administration.
Notice of open Federal Advisory
Committee meeting.
AGENCY:
ACTION:
The SBA is issuing this notice
to announce the date, time and agenda
for a meeting of the National Small
Business Development Center Advisory
Board. The meeting will be open to the
public; however, advance notice of
attendance is required.
DATES: Wednesday, February 12, 2020 at
11:00 a.m. EST.
ADDRESSES: Meeting will be held via
conference call.
FOR FURTHER INFORMATION CONTACT:
Alanna Falcone, Office of Small
Business Development Centers, U.S.
Small Business Administration, 409
Third Street SW, Washington, DC
20416; alanna.falcone@sba.gov; 202–
619–1612.
If anyone wishes to be a listening
participant or would like to request
accommodations, please contact Alanna
Falcone at the information above.
SUPPLEMENTARY INFORMATION: Pursuant
to section l0(a) of the Federal Advisory
Committee Act (5 U.S.C. Appendix 2),
the SBA announces the meetings of the
National SBDC Advisory Board. This
Board provides advice and counsel to
the SBA Administrator and Associate
Administrator for Small Business
Development Centers.
SUMMARY:
Purpose
The purpose of the meeting is to
onboard the new members and discuss
the following issues pertaining to the
SBDC Program:
• SBA Briefing
• Member Introductions
• Annual Meetings
• Board Assignments
Nicole Nelson,
Acting Committee Management Officer.
[FR Doc. 2020–02732 Filed 2–11–20; 8:45 am]
BILLING CODE P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration # 16253 and # 16254;
PUERTO RICO Disaster Number PR–00034]
Presidential Declaration Amendment of
a Major Disaster for the
Commonwealth of Puerto Rico
U.S. Small Business
Administration.
ACTION: Amendment 2.
AGENCY:
[FR Doc. 2020–02733 Filed 2–11–20; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
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]]>Agencies
[Federal Register Volume 85, Number 29 (Wednesday, February 12, 2020)]
[Notices]
[Page 8086]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-02732]
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SMALL BUSINESS ADMINISTRATION
National Small Business Development Centers Advisory Board
AGENCY: Small Business Administration.
ACTION: Notice of open Federal Advisory Committee meeting.
-----------------------------------------------------------------------
SUMMARY: The SBA is issuing this notice to announce the date, time and
agenda for a meeting of the National Small Business Development Center
Advisory Board. The meeting will be open to the public; however,
advance notice of attendance is required.
DATES: Wednesday, February 12, 2020 at 11:00 a.m. EST.
ADDRESSES: Meeting will be held via conference call.
FOR FURTHER INFORMATION CONTACT: Alanna Falcone, Office of Small
Business Development Centers, U.S. Small Business Administration, 409
Third Street SW, Washington, DC 20416; a[email protected]; 202-619-
1612.
If anyone wishes to be a listening participant or would like to
request accommodations, please contact Alanna Falcone at the
information above.
SUPPLEMENTARY INFORMATION: Pursuant to section l0(a) of the Federal
Advisory Committee Act (5 U.S.C. Appendix 2), the SBA announces the
meetings of the National SBDC Advisory Board. This Board provides
advice and counsel to the SBA Administrator and Associate Administrator
for Small Business Development Centers.
Purpose
The purpose of the meeting is to onboard the new members and
discuss the following issues pertaining to the SBDC Program:
SBA Briefing
Member Introductions
Annual Meetings
Board Assignments
Nicole Nelson,
Acting Committee Management Officer.
[FR Doc. 2020-02732 Filed 2-11-20; 8:45 am]
BILLING CODE P
