Proposed Collection; Comment Request, 7320-7321 [2021-01667]
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Federal Register / Vol. 86, No. 16 / Wednesday, January 27, 2021 / Notices
information from comment submissions.
You should submit only information
that you wish to make available
publicly.
All submissions should refer to File
Number SR–OCC–2021–002 and should
be submitted on or before February 17,
2021.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.28
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–01729 Filed 1–26–21; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–182, OMB Control No.
3235–0237]
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
khammond on DSKJM1Z7X2PROD with NOTICES
Extension:
Form N–54A
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’’) has submitted to the
Office of Management and Budget a
request for extension of the previously
approved collection of information
discussed below.
Under the Investment Company Act
of 1940 (15 U.S.C. 80a–1 et seq.) (the
‘‘Investment Company Act’’), certain
investment companies can elect to be
regulated as business development
companies, as defined in Section
2(a)(48) of the Investment Company Act
(15 U.S.C. 80a–2(a)(48)). Under Section
54(a) of the Investment Company Act
(15 U.S.C. 80a–53(a)), any company
defined in Section 2(a)(48)(A) and (B)
may elect to be subject to the provisions
of Sections 55 through 65 of the
Investment Company Act (15 U.S.C.
80a–54 to 80a–64) by filing with the
Commission a notification of election, if
such company has: (1) A class of equity
securities registered under Section 12 of
the Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.) (‘‘Exchange Act’’); or
(2) filed a registration statement
pursuant to Section 12 of the Exchange
Act for a class of its equity securities.
The Commission adopted Form N–54A
(17 CFR 274.53) as the form for
notification of election to be regulated
as a business development company.
The purpose of Form N–54A is to
notify the Commission that the
investment company making the
notification elects to be subject to
Sections 55 through 65 of the
Investment Company Act, enabling the
Commission to administer those
provisions of the Investment Company
Act to such companies.
The Commission estimates that on
average approximately 7 business
development companies file these
notifications each year. Each of those
business development companies need
only make a single filing of Form N–
54A. The Commission further estimates
that this information collection imposes
a burden of 0.5 hours, resulting in a
total annual PRA burden of 3.5 hours.
Based on the estimated wage rate, the
total cost to the business development
company industry of the hour burden
for complying with Form N–54A would
be approximately $1,288.
The collection of information under
Form N–54A is mandatory. The
information provided by the form is not
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 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. Written comments
and recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
Dated: January 21, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–01655 Filed 1–26–21; 8:45 am]
28 17
CFR 200.30–3(a)(12).
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SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–524, OMB Control No.
3235–0582]
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 N–PX
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) (‘‘Paperwork
Reduction Act’’), the Securities and
Exchange Commission (the
‘‘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 (‘‘OMB’’) for
extension and approval.
Rule 30b1–4 (17 CFR 270.30b1–4)
under the Investment Company Act of
1940 (15 U.S.C. 80a–1 et seq.) requires
every registered management
investment company, other than a small
business investment company registered
on Form N–5 (‘‘funds’’), to file a report
on Form N–PX not later than August 31
of each year. Funds use Form N–PX to
file annual reports with the Commission
containing their complete proxy voting
record for the most recent twelve-month
period ended June 30.
The Commission estimates that there
are approximately 2,207 funds
registered with the Commission,
representing approximately 11,890 fund
portfolios that are required to file Form
N–PX reports. The 11,890 portfolios are
comprised of approximately 6,392
portfolios holding equity securities,
2,857 portfolios holding no equity
securities, and 1,476 portfolios holding
fund securities (i.e., fund of funds).1 The
currently approved burden of Form N–
PX for portfolios holding equity
1 The estimate of 2,207 funds is based on the
number of management investment companies
currently registered with the Commission. The
Commission staff estimates that there are
approximately 6,392 portfolios that invest primarily
in equity securities, 804 ‘‘hybrid’’ or bond portfolios
that may hold some equity securities, 2,857 bond
portfolios that hold no equity securities, and 361
money market fund portfolios, and 1,476 fund of
funds, for a total of 11,890 portfolios required to file
Form N–PX reports. The staff has based its portfolio
estimates on a number of publications. See
Investment Company Institute, Trends in Mutual
Fund Investing (February 2020); Investment
Company Institute, Closed-End Fund Assets and
Net Issuance (Fourth Quarter 2019); Investment
Company Institute, ETF Assets and Net Issuance
(February 2020).
E:\FR\FM\27JAN1.SGM
27JAN1
Federal Register / Vol. 86, No. 16 / Wednesday, January 27, 2021 / Notices
khammond on DSKJM1Z7X2PROD with NOTICES
securities is 7.2 hours per response, the
current burden estimate for funds
holding no equity securities is 0.17
hours (10 minutes) per response, and
the current burden estimate for fund of
funds is 1 hour per response. Therefore,
the number of aggregate burden hours,
when calculated using the current
number of portfolios, is approximately
47,984 hours.2 We continue to believe
that these estimates for Form N–PX’s
current burden are appropriate. Based
on the Commission’s estimate of 47,984
burden hours and an estimated wage
rate of approximately $368 per hour,3
the total cost to reporting persons of the
hour burden for filing Form N–PX is
approximately $17.66 million.4
The estimated cost burden of Form N–
PX is $1,000 in external costs per
portfolio holding equity securities that
is paid to third-party service providers.
External costs for portfolios holding no
equity securities have previously been
estimated to be zero because portfolios
holding no equity securities generally
have no proxy votes to report and
therefore do not require third-party
service providers to assist with proxy
voting and preparing reports on Form
N–PX. The estimated cost burden of
Form N–PX for fund of funds is
estimated to be $100 per portfolio
because fund of funds generally either
have no proxy votes to report; or if
proxy votes are reported, they are
generally limited in the number of
securities and the number of voting
matters relative to portfolios holding
equity securities. Therefore, the
aggregate cost burden, when calculated
using the current number of portfolios,
is approximately $6,539,600 in external
costs.5 We continue to believe that these
estimates for Form N–PX’s current cost
burden are appropriate.
Estimates of average burden hours
and costs are made solely for the
purposes of the Paperwork Reduction
Act and are not derived from a
comprehensive or even representative
survey or study of the costs of
Commission rules and forms.
2 (6,392 portfolios that hold equity securities × 7.2
hours per year) + (2,857 portfolios holding no
equity securities × 0.17 hours per year) + (1,476
portfolios holding fund securities × 1 hour per year)
= 47,984 hours.
3 The hourly wage figure for a compliance
attorney is from the Securities Industry and
Financial Markets Association’s Management &
Professional Salaries in the Securities Industry
2013, modified by Commission staff to account for
an 1800-hour work-year and inflation and
multiplied by 5.35 to account for bonuses, firm size,
employee benefits and overhead.
4 47,984 hours × $368 per hour = $17,658,112.
5 (6,392 portfolios holding equity securities ×
$1,000 per year) + (2,857 portfolios holding no
equity securities × $0 per year) + (1,476 fund of
funds × $100) = $6,539,600.
VerDate Sep<11>2014
17:04 Jan 26, 2021
Jkt 253001
Compliance with the collection of
information requirements of Form N–PX
is mandatory. Responses to the
collection of information 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 OMB control number.
Written comments are invited on: (a)
Whether the collection of information is
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 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 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.
Dated: January 21, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–01667 Filed 1–26–21; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–90956; File No. SR–
NYSEAMER–2021–03]
Self-Regulatory Organizations; NYSE
American LLC; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend the NYSE
American Options Fee Schedule
January 21, 2021.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that, on January
13, 2021, NYSE American LLC (‘‘NYSE
American’’ or the ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
U.S.C. 78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
7321
have been prepared by the selfregulatory organization. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend the
NYSE American Options Fee Schedule
(‘‘Fee Schedule’’) regarding the credit
for certain American Customer
Engagement (‘‘ACE’’) Program Simple
transactions. The Exchange proposes to
implement the fee change effective
January 13, 2021. The proposed rule
change is available on the Exchange’s
website at www.nyse.com, at the
principal office of the Exchange, and at
the Commission’s Public Reference
Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
self-regulatory organization included
statements concerning the purpose of,
and basis for, the proposed rule change
and discussed any comments it received
on the proposed rule change. The text
of those statements may be examined at
the places specified in Item IV below.
The Exchange has prepared summaries,
set forth in sections A, B, and C below,
of the most significant parts of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The purpose of this filing is to modify
the Fee Schedule regarding a certain
credit available to ACE Program
participants who also have an affiliated
or appointed Market Maker that
participates in the Prepayment
Program.4 The Exchange proposes to
implement the rule change on January
13, 2021.
Section I.E. of the Fee Schedule sets
forth the per contract credits applicable
to Simple and Complex executions for
participants in the ACE Program.
Currently, the Exchange offers a range of
credits to ACE Program participants for
each electronic Customer contract,
including certain credits available to
participants with affiliated or appointed
Market Makers that prepay their Market
Maker fees. The credits are tiered based
on increasing levels of Customer
1 15
2 15
PO 00000
Frm 00079
Fmt 4703
4 See Fee Schedule, Section I.D., Prepayment
Program.
Sfmt 4703
E:\FR\FM\27JAN1.SGM
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]]>Agencies
[Federal Register Volume 86, Number 16 (Wednesday, January 27, 2021)]
[Notices]
[Pages 7320-7321]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-01667]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-524, OMB Control No. 3235-0582]
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 N-PX
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.) (``Paperwork Reduction Act''), the
Securities and Exchange Commission (the ``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 (``OMB'') for extension and
approval.
Rule 30b1-4 (17 CFR 270.30b1-4) under the Investment Company Act of
1940 (15 U.S.C. 80a-1 et seq.) requires every registered management
investment company, other than a small business investment company
registered on Form N-5 (``funds''), to file a report on Form N-PX not
later than August 31 of each year. Funds use Form N-PX to file annual
reports with the Commission containing their complete proxy voting
record for the most recent twelve-month period ended June 30.
The Commission estimates that there are approximately 2,207 funds
registered with the Commission, representing approximately 11,890 fund
portfolios that are required to file Form N-PX reports. The 11,890
portfolios are comprised of approximately 6,392 portfolios holding
equity securities, 2,857 portfolios holding no equity securities, and
1,476 portfolios holding fund securities (i.e., fund of funds).\1\ The
currently approved burden of Form N-PX for portfolios holding equity
[[Page 7321]]
securities is 7.2 hours per response, the current burden estimate for
funds holding no equity securities is 0.17 hours (10 minutes) per
response, and the current burden estimate for fund of funds is 1 hour
per response. Therefore, the number of aggregate burden hours, when
calculated using the current number of portfolios, is approximately
47,984 hours.\2\ We continue to believe that these estimates for Form
N-PX's current burden are appropriate. Based on the Commission's
estimate of 47,984 burden hours and an estimated wage rate of
approximately $368 per hour,\3\ the total cost to reporting persons of
the hour burden for filing Form N-PX is approximately $17.66
million.\4\
---------------------------------------------------------------------------
\1\ The estimate of 2,207 funds is based on the number of
management investment companies currently registered with the
Commission. The Commission staff estimates that there are
approximately 6,392 portfolios that invest primarily in equity
securities, 804 ``hybrid'' or bond portfolios that may hold some
equity securities, 2,857 bond portfolios that hold no equity
securities, and 361 money market fund portfolios, and 1,476 fund of
funds, for a total of 11,890 portfolios required to file Form N-PX
reports. The staff has based its portfolio estimates on a number of
publications. See Investment Company Institute, Trends in Mutual
Fund Investing (February 2020); Investment Company Institute,
Closed-End Fund Assets and Net Issuance (Fourth Quarter 2019);
Investment Company Institute, ETF Assets and Net Issuance (February
2020).
\2\ (6,392 portfolios that hold equity securities x 7.2 hours
per year) + (2,857 portfolios holding no equity securities x 0.17
hours per year) + (1,476 portfolios holding fund securities x 1 hour
per year) = 47,984 hours.
\3\ The hourly wage figure for a compliance attorney is from the
Securities Industry and Financial Markets Association's Management &
Professional Salaries in the Securities Industry 2013, modified by
Commission staff to account for an 1800-hour work-year and inflation
and multiplied by 5.35 to account for bonuses, firm size, employee
benefits and overhead.
\4\ 47,984 hours x $368 per hour = $17,658,112.
---------------------------------------------------------------------------
The estimated cost burden of Form N-PX is $1,000 in external costs
per portfolio holding equity securities that is paid to third-party
service providers. External costs for portfolios holding no equity
securities have previously been estimated to be zero because portfolios
holding no equity securities generally have no proxy votes to report
and therefore do not require third-party service providers to assist
with proxy voting and preparing reports on Form N-PX. The estimated
cost burden of Form N-PX for fund of funds is estimated to be $100 per
portfolio because fund of funds generally either have no proxy votes to
report; or if proxy votes are reported, they are generally limited in
the number of securities and the number of voting matters relative to
portfolios holding equity securities. Therefore, the aggregate cost
burden, when calculated using the current number of portfolios, is
approximately $6,539,600 in external costs.\5\ We continue to believe
that these estimates for Form N-PX's current cost burden are
appropriate.
---------------------------------------------------------------------------
\5\ (6,392 portfolios holding equity securities x $1,000 per
year) + (2,857 portfolios holding no equity securities x $0 per
year) + (1,476 fund of funds x $100) = $6,539,600.
---------------------------------------------------------------------------
Estimates of average burden hours and costs are made solely for the
purposes of the Paperwork Reduction Act and are not derived from a
comprehensive or even representative survey or study of the costs of
Commission rules and forms. Compliance with the collection of
information requirements of Form N-PX is mandatory. Responses to the
collection of information 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 OMB
control number.
Written comments are invited on: (a) Whether the collection of
information is 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 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 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:
[email protected].
Dated: January 21, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-01667 Filed 1-26-21; 8:45 am]
BILLING CODE 8011-01-P
