Submission for OMB Review; Comment Request, 64575 [2021-25171]

Download as PDF Federal Register / Vol. 86, No. 220 / Thursday, November 18, 2021 / Notices to determine whether the proposed rule change should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– NYSEArca–2021–97 on the subject line. khammond on DSKJM1Z7X2PROD with NOTICES Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to File Number SR–NYSEArca–2021–97. 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–NYSEArca–2021–97, and should be submitted on or before December 9, 2021. VerDate Sep<11>2014 17:11 Nov 17, 2021 Jkt 256001 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.24 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–25124 Filed 11–17–21; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–491, OMB Control No. 3235–0548] 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 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’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. 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. 64575 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. 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 John R. Pezzullo, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov. Dated: November 15, 2021. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–25171 Filed 11–17–21; 8:45 am] 24 PO 00000 17 CFR 200.30–3(a)(12). Frm 00131 Fmt 4703 Sfmt 4703 BILLING CODE 8011–01–P E:\FR\FM\18NON1.SGM 18NON1

Agencies

[Federal Register Volume 86, Number 220 (Thursday, November 18, 2021)]
[Notices]
[Page 64575]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-25171]


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SECURITIES AND EXCHANGE COMMISSION

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


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 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'') has submitted to the Office of 
Management and Budget (``OMB'') a request for extension of the 
previously approved collection of information discussed below.
    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. 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 John R. Pezzullo, 100 F Street NE, 
Washington, DC 20549, or by sending an email to: [email protected].

    Dated: November 15, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-25171 Filed 11-17-21; 8:45 am]
BILLING CODE 8011-01-P
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