Submission for OMB Review; Comment Request, 20776-20777 [2021-08137]

Download as PDF 20776 Federal Register / Vol. 86, No. 75 / Wednesday, April 21, 2021 / Notices • Send an email to rule-comments@ sec.gov. Please include File Number SR– Phlx–2021–23 on the subject line. SECURITIES AND EXCHANGE COMMISSION Paper Comments [SEC File No. 270–151, OMB Control No. 3235–0291] • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. Proposed Collection; Comment Request All submissions should refer to File Number SR–Phlx–2021–23. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s internet website (https://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for website viewing and printing in the Commission’s Public Reference Room, 100 F Street NE, Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–Phlx–2021–23 and should be submitted on or before May 12, 2021. khammond on DSKJM1Z7X2PROD with NOTICES For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.19 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–08151 Filed 4–20–21; 8:45 am] BILLING CODE 8011–01–P 19 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 18:12 Apr 20, 2021 Jkt 253001 Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736 Extension: Rules 17Adb–6 and 17Adb–7 Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (‘‘Commission’’) is soliciting comments on the existing collection of information provided for in Rule 17Adb–6 (17 CFR 240.17Adb–6) and Rule 17Adb–7 (17 CFR 240.17Adb–7) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Rule 17Adb–6 requires every registered transfer agent to make and keep current records about a variety of information, such as: (1) Specific operational data regarding the time taken to perform transfer agent activities (to ensure compliance with the minimum performance standards in Rule 17Adb–2 (17 CFR 240.17Adb–2)); (2) written inquiries and requests by shareholders and broker-dealers and response time thereto; (3) resolutions, contracts, or other supporting documents concerning the appointment or termination of the transfer agent; (4) stop orders or notices of adverse claims to the securities; and (5) all canceled registered securities certificates. Rule 17Adb–7 requires each registered transfer agent to retain the records specified in Rule 17Adb–6 in an easily accessible place for a period of six months to six years, depending on the type of record or document. Rule 17Adb–7 also specifies the manner in which records may be maintained using electronic, microfilm, and microfiche storage methods. These recordkeeping requirements are designed to ensure that all registered transfer agents are maintaining the records necessary for them to monitor and keep control over their own performance and for the Commission to adequately examine registered transfer agents on an historical basis for compliance with applicable rules. PO 00000 Frm 00125 Fmt 4703 Sfmt 4703 The Commission estimates that approximately 359 registered transfer agents will spend a total of 179,500 hours per year complying with Rules 17Adb–6 and 17Adb–7 (500 hours per year per transfer agent). The retention period under Rule 17Adb–7 for the recordkeeping requirements under Rule 17Adb–6 is six months to six years, depending on the particular record or document. The recordkeeping and retention requirements under Rules 17Adb–6 and 17Adb–7 are mandatory to assist the Commission and other regulatory agencies with monitoring transfer agents and ensuring compliance with the rules. These rules do not involve the collection of confidential information. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimates of the burden of the proposed 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 under the PRA unless it displays a currently valid OMB control number. 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: April 15, 2021. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–08145 Filed 4–20–21; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–613, OMB Control No. 3235–0712] Submission for OMB Review; Comment Request Upon Written Request Copies Available From: Securities and Exchange E:\FR\FM\21APN1.SGM 21APN1 Federal Register / Vol. 86, No. 75 / Wednesday, April 21, 2021 / Notices Director/Chief Information Officer, Securities and Exchange Commission, c/ o Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov. Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736 khammond on DSKJM1Z7X2PROD with NOTICES Extension: Credit Risk Retention—Regulation RR 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 this request for extension of the previously approved collection of information discussed below. Credit Risk Retention (‘‘Regulation RR’’) (17 CFR 246.1 through 246.22) recordkeeping and disclosure requirements implement Section 15G of the Securities Exchange Act of 1934 (15 U.S.C. 78o–11) Section 15G clarifies the scope and application of Section 306(a) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7244(a)). Section 306(a) of the Sarbanes-Oxley Act requires, among other things, an issuer to provide timely notice to its directors and executive officers and to the Commission of the imposition of a blackout period that would trigger a trading prohibition under Section 306(a)(1) of the SarbanesOxley Act. Section 306(a)(1) prohibits any director or executive officer of an issuer of any equity security, from directly or indirectly, purchasing, selling or otherwise acquiring or transferring any equity security of that issuer during the blackout period with respect to such equity security, if the director or executive officer acquired the equity security in connection with his or her service or employment. Approximately 1,647 issuers file using Regulation RR responses and it takes approximately 14.389 hours per response. We estimate that 75% of the 14.389 hours per response (10.792 hours) is prepared by the registrant for a total annual reporting burden of 17,774 hours (10.792 hours per response × 1,647 responses). 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 background documentation for this information collection at the following website: www.reginfo.gov. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to (i) www.reginfo.gov/public/do/ PRAMain and (ii) David Bottom, VerDate Sep<11>2014 18:12 Apr 20, 2021 Jkt 253001 Dated: April 15, 2021. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–08137 Filed 4–20–21; 8:45 am] BILLING CODE 8011–01–P 20777 provide that the fidelity insurance company will provide all funds covered by the bond with a copy of the agreement, a copy of any claim on the bond, and notification of the terms of the settlement of any claim prior to execution of that settlement. Finally, a fund that is insured by a joint bond must enter into an agreement with all other parties insured by the joint bond regarding recovery under the bond. Filings with the Commission SECURITIES AND EXCHANGE COMMISSION[SEC File No. 270–208, OMB Control No. 3235–0213] 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 17g–1 Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 350l-3520), the Securities and Exchange Commission (the ‘‘Commission’’) has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. Rule 17g–1 (17 CFR 270.17g–1) under the Investment Company Act of 1940 (the ‘‘Act’’) (15 U.S.C. 80a–17(g)) governs the fidelity bonding of officers and employees of registered management investment companies (‘‘funds’’) and their advisers. Rule 17g– 1 requires, in part, the following: Independent Directors’ Approval The form and amount of the fidelity bond must be approved by a majority of the fund’s independent directors at least once annually, and the amount of any premium paid by the fund for any ‘‘joint insured bond,’’ covering multiple funds or certain affiliates, must be approved by a majority of the fund’s independent directors. Terms and Provisions of the Bond The amount of the bond may not be less than the minimum amounts of coverage set forth in a schedule based on the fund’s gross assets. The bond must provide that it shall not be cancelled, terminated, or modified except upon 60-days written notice to the affected party and to the Commission. In the case of a joint insured bond, 60-days written notice must also be given to each fund covered by the bond. A joint insured bond must PO 00000 Frm 00126 Fmt 4703 Sfmt 4703 Upon the execution of a fidelity bond or any amendment thereto, a fund must file with the Commission within 10 days: (i) A copy of the executed bond or any amendment to the bond, (ii) the independent directors’ resolution approving the bond, and (iii) a statement as to the period for which premiums have been paid on the bond. In the case of a joint insured bond, a fund must also file: (i) A statement showing the amount the fund would have been required to maintain under the rule if it were insured under a single insured bond; and (ii) the agreement between the fund and all other insured parties regarding recovery under the bond. A fund must also notify the Commission in writing within five days of any claim or settlement on a claim under the fidelity bond. Notices to Directors A fund must notify by registered mail each member of its board of directors of: (i) Any cancellation, termination, or modification of the fidelity bond at least 45 days prior to the effective date; and (ii) the filing or settlement of any claim under the fidelity bond when notification is filed with the Commission. Rule 17g–1’s independent directors’ annual review requirements, fidelity bond content requirements, joint bond agreement requirement, and the required notices to directors are designed to ensure the safety of fund assets against losses due to the conduct of persons who may obtain access to those assets. These requirements also seek to facilitate oversight of a fund’s fidelity bond. The rule’s required filings with the Commission are designed to assist the Commission in monitoring funds’ compliance with the fidelity bond requirements. Based on conversations with representatives in the fund industry, the Commission staff estimates that for each of the estimated 2.200 active funds (respondents),1 the average annual 1 Based on a review of fund filings for the threeyear period from 2018 to 2020, Commission staff E:\FR\FM\21APN1.SGM Continued 21APN1

Agencies

[Federal Register Volume 86, Number 75 (Wednesday, April 21, 2021)]
[Notices]
[Pages 20776-20777]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-08137]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-613, OMB Control No. 3235-0712]


Submission for OMB Review; Comment Request

Upon Written Request Copies Available From: Securities and Exchange

[[Page 20777]]

Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

Extension:
    Credit Risk Retention--Regulation RR

    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 this request for extension of the previously approved 
collection of information discussed below.
    Credit Risk Retention (``Regulation RR'') (17 CFR 246.1 through 
246.22) recordkeeping and disclosure requirements implement Section 15G 
of the Securities Exchange Act of 1934 (15 U.S.C. 78o-11) Section 15G 
clarifies the scope and application of Section 306(a) of the Sarbanes-
Oxley Act of 2002 (15 U.S.C. 7244(a)). Section 306(a) of the Sarbanes-
Oxley Act requires, among other things, an issuer to provide timely 
notice to its directors and executive officers and to the Commission of 
the imposition of a blackout period that would trigger a trading 
prohibition under Section 306(a)(1) of the Sarbanes-Oxley Act. Section 
306(a)(1) prohibits any director or executive officer of an issuer of 
any equity security, from directly or indirectly, purchasing, selling 
or otherwise acquiring or transferring any equity security of that 
issuer during the blackout period with respect to such equity security, 
if the director or executive officer acquired the equity security in 
connection with his or her service or employment. Approximately 1,647 
issuers file using Regulation RR responses and it takes approximately 
14.389 hours per response. We estimate that 75% of the 14.389 hours per 
response (10.792 hours) is prepared by the registrant for a total 
annual reporting burden of 17,774 hours (10.792 hours per response x 
1,647 responses).
    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 background documentation for this information 
collection at the following website: www.reginfo.gov. Find this 
particular information collection by selecting ``Currently under 30-day 
Review--Open for Public Comments'' or by using the search function. 
Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to (i) www.reginfo.gov/public/do/PRAMain and (ii) David Bottom, 
Director/Chief Information Officer, Securities and Exchange Commission, 
c/o Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or by 
sending an email to: [email protected].

    Dated: April 15, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-08137 Filed 4-20-21; 8:45 am]
BILLING CODE 8011-01-P
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