Proposed Collection; Comment Request, 48789 [2021-18700]

Download as PDF Federal Register / Vol. 86, No. 166 / Tuesday, August 31, 2021 / Notices SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–491; OMB Control No. 3235–0548] 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 khammond on DSKJM1Z7X2PROD with NOTICES Extension: Rule 35d–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 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. Rule 35d–1 (17 CFR 270.35d–1) under the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) defines as ‘‘materially deceptive and misleading’’ for purposes of Section 35(d), among other things, a name suggesting that a registered investment company or series thereof (a ‘‘fund’’) focuses its investments in a particular type of investment or investments, in investments in a particular industry or group of industries, or in investments in a particular country or geographic region, unless, among other things, the fund adopts a certain investment policy. Rule 35d–1 further requires either that the investment policy is fundamental or that the fund has adopted a policy to provide its shareholders with at least 60 days prior notice of any change in the investment policy (‘‘notice to shareholders’’). The rule’s notice to shareholders provision is intended to ensure that when shareholders purchase shares in a fund based, at least in part, on its name, and with the expectation that it will follow the investment policy suggested by that name, they will have sufficient time to decide whether to redeem their shares in the event that the fund decides to pursue a different investment policy. The Commission estimates that there are approximately 11,502 open-end and closed-end funds that have names that are covered by the rule. The Commission estimates that of these 11,502 funds, approximately 38 will provide prior notice to shareholders pursuant to a policy adopted in VerDate Sep<11>2014 22:38 Aug 30, 2021 Jkt 253001 48789 accordance with this rule per year. The Commission estimates that the annual burden associated with the notice to shareholders requirement of the rule is 20 hours per response, for annual total of 760 hours per year. SECURITIES AND EXCHANGE COMMISSION Estimates of average burden hours 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. Providing prior notice to shareholders under rule 35d–1 is not mandatory. An investment company may choose to have a name that does not indicate that the fund focuses its investments in a particular type of investment or investments, or in investments in a particular industry or group of industry. If an investment company does choose such a name, it will only need to provide prior notice to shareholders of a change in its 80% investment policy if it first has adopted a policy to provide notice and then has decided to change this investment policy. The information provided under rule 35d–1 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. Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Equity 7, Section 3 To Adopt an Enhanced Market Quality Program 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 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: August 25, 2021. Jill M. Peterson, [Release No. 34–92754; File No. SR–Phlx– 2021–47] August 25, 2021. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on August 12, 2021, Nasdaq PHLX LLC (‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I, II, and III, below, which Items have been prepared by the Exchange. 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 Equity 7, Section 3 to adopt an Enhanced Market Quality Program and a related credit, as described further below. The text of the proposed rule change is available on the Exchange’s website at https://listingcenter.nasdaq.com/ rulebook/phlx/rules, 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 Exchange 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 these 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 aspects of such statements. Assistant Secretary. [FR Doc. 2021–18700 Filed 8–30–21; 8:45 am] 1 15 BILLING CODE 8011–01–P 2 17 PO 00000 Frm 00131 Fmt 4703 Sfmt 4703 E:\FR\FM\31AUN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 31AUN1

Agencies

[Federal Register Volume 86, Number 166 (Tuesday, August 31, 2021)]
[Notices]
[Page 48789]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-18700]



[[Page 48789]]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-491; OMB Control No. 3235-0548]


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 35d-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 
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.
    Rule 35d-1 (17 CFR 270.35d-1) under the Investment Company Act of 
1940 (15 U.S.C. 80a-1 et seq.) defines as ``materially deceptive and 
misleading'' for purposes of Section 35(d), among other things, a name 
suggesting that a registered investment company or series thereof (a 
``fund'') focuses its investments in a particular type of investment or 
investments, in investments in a particular industry or group of 
industries, or in investments in a particular country or geographic 
region, unless, among other things, the fund adopts a certain 
investment policy. Rule 35d-1 further requires either that the 
investment policy is fundamental or that the fund has adopted a policy 
to provide its shareholders with at least 60 days prior notice of any 
change in the investment policy (``notice to shareholders''). The 
rule's notice to shareholders provision is intended to ensure that when 
shareholders purchase shares in a fund based, at least in part, on its 
name, and with the expectation that it will follow the investment 
policy suggested by that name, they will have sufficient time to decide 
whether to redeem their shares in the event that the fund decides to 
pursue a different investment policy.
    The Commission estimates that there are approximately 11,502 open-
end and closed-end funds that have names that are covered by the rule. 
The Commission estimates that of these 11,502 funds, approximately 38 
will provide prior notice to shareholders pursuant to a policy adopted 
in accordance with this rule per year. The Commission estimates that 
the annual burden associated with the notice to shareholders 
requirement of the rule is 20 hours per response, for annual total of 
760 hours per year.
    Estimates of average burden hours 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. Providing prior notice to shareholders under rule 35d-1 is 
not mandatory. An investment company may choose to have a name that 
does not indicate that the fund focuses its investments in a particular 
type of investment or investments, or in investments in a particular 
industry or group of industry. If an investment company does choose 
such a name, it will only need to provide prior notice to shareholders 
of a change in its 80% investment policy if it first has adopted a 
policy to provide notice and then has decided to change this investment 
policy. The information provided under rule 35d-1 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 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 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: August 25, 2021.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2021-18700 Filed 8-30-21; 8:45 am]
BILLING CODE 8011-01-P
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