Submission for OMB Review; Comment Request; Extension: Rule 31a-2, 60230 [2022-21445]

Download as PDF 60230 Federal Register / Vol. 87, No. 191 / Tuesday, October 4, 2022 / Notices solutions be shared equitably? How should we engage communities in local implementation? How should we ensure that ocean-based climate solutions are implemented in ways that do not harm underserved communities? What opportunities exist for training and employing a diverse and inclusive blue workforce in implementing ocean-based climate solutions? 5. Partnerships and Collaboration. What solutions can/should come from outside of government? Where and how can the Federal government partner with external stakeholders across regions and sectors to effectively mitigate and adapt to climate change through ocean-based climate solutions? 6. Additional Comments: Please provide any other input that you believe is pertinent to this RFI, within the page limit. Please note that the OCAP will also inform the OPC’s work to develop a National Strategy for a Sustainable Ocean Economy (National Strategy), which will describe a vision and set high-level goals for the sustainable management of the Nation’s ocean, coasts, and Great Lakes, and frame development of a national plan towards a sustainable ocean economy. For more information, see https://www.noaa.gov/ interagency-ocean-policy. OSTP and CEQ will solicit public comment on the National Strategy through public notice in the Federal Register. Dated: September 29, 2022. Stacy Murphy, Operations Manager. [FR Doc. 2022–21480 Filed 10–3–22; 8:45 am] BILLING CODE 3270–F8–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–174, OMB Control No. 3235–0179] khammond on DSKJM1Z7X2PROD with NOTICES Submission for OMB Review; Comment Request; Extension: Rule 31a–2 Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736. 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. VerDate Sep<11>2014 16:48 Oct 03, 2022 Jkt 259001 Section 31(a)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) (the ‘‘Act’’) requires registered investment companies (‘‘funds’’) and certain underwriters, broker-dealers, investment advisers, and depositors to maintain and preserve records as prescribed by Commission rules. Rule 31a–1 (17 CFR 270.31a–1) under the Act specifies the books and records that each of these entities must maintain. Rule 31a–2 (17 CFR 270.31a–2) under the Act specifies the time periods that entities must retain certain books and records, including those required to be maintained under rule 31a–1. The retention of records, as required by the rule, is necessary to ensure access to material business and financial information about funds and certain related entities. We periodically inspect the operations of funds to ensure they are in compliance with the Act and regulations under the Act. Due to the limits on our resources, however, each fund may only be inspected at intervals of several years. In addition, the prosecution of persons who have engaged in certain violations of the federal securities laws may not be limited by timing restrictions. For these reasons, we often need information relating to events or transactions that occurred years ago. Without the requirement to preserve books, records, and other documents, our staff would have difficulty determining whether the fund was in compliance with the law in such areas as valuation of its portfolio securities, computation of the prices investors paid, and, when purchasing and selling fund shares, types and amounts of expenses the fund incurred, kinds of investments the fund purchased, actions of affiliated persons, or whether the fund had engaged in any illegal or fraudulent activities. As part of our examinations of funds, our staff also reviews the materials that directors consider in approving the advisory contract. There are 2,754 funds currently operating as of December 31, 2021, all of which are required to comply with rule 31a–2. The Commission staff estimates that, on average, a fund spends 220.4 hours annually to comply with the rule. The Commission therefore estimates the total annual hour burden of the rule’s and form’s paperwork requirements to be 606,981.60 hours. In addition to the burden hours, the Commission staff estimates that the average yearly cost to each fund that is subject to rule 31a–2 is about $40,577.95. The Commission estimates total annual cost is therefore about $111.8 million. PO 00000 Frm 00122 Fmt 4703 Sfmt 4703 Estimates of average burden hours and costs are made solely for 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 the rule is mandatory. Responses to the disclosure requirements 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 by November 3, 2022 to (i) MBX.OMB.OIRA.SEC_desk_officer@ omb.eop.gov and (ii) David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/ o John Pezzullo, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov. Dated: September 28, 2022. J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2022–21445 Filed 10–3–22; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–95937; File No. SR–FINRA– 2022–025] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend FINRA Rule 11880 (Settlement of Syndicate Accounts) To Revise the Syndicate Account Settlement Timeframe for Corporate Debt Offerings September 28, 2022. On August 5, 2022, the Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a 1 15 2 17 E:\FR\FM\04OCN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 04OCN1

Agencies

[Federal Register Volume 87, Number 191 (Tuesday, October 4, 2022)]
[Notices]
[Page 60230]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-21445]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-174, OMB Control No. 3235-0179]


Submission for OMB Review; Comment Request; Extension: Rule 31a-2

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736.

    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.
    Section 31(a)(1) of the Investment Company Act of 1940 (15 U.S.C. 
80a-1 et seq.) (the ``Act'') requires registered investment companies 
(``funds'') and certain underwriters, broker-dealers, investment 
advisers, and depositors to maintain and preserve records as prescribed 
by Commission rules. Rule 31a-1 (17 CFR 270.31a-1) under the Act 
specifies the books and records that each of these entities must 
maintain. Rule 31a-2 (17 CFR 270.31a-2) under the Act specifies the 
time periods that entities must retain certain books and records, 
including those required to be maintained under rule 31a-1.
    The retention of records, as required by the rule, is necessary to 
ensure access to material business and financial information about 
funds and certain related entities. We periodically inspect the 
operations of funds to ensure they are in compliance with the Act and 
regulations under the Act. Due to the limits on our resources, however, 
each fund may only be inspected at intervals of several years. In 
addition, the prosecution of persons who have engaged in certain 
violations of the federal securities laws may not be limited by timing 
restrictions. For these reasons, we often need information relating to 
events or transactions that occurred years ago. Without the requirement 
to preserve books, records, and other documents, our staff would have 
difficulty determining whether the fund was in compliance with the law 
in such areas as valuation of its portfolio securities, computation of 
the prices investors paid, and, when purchasing and selling fund 
shares, types and amounts of expenses the fund incurred, kinds of 
investments the fund purchased, actions of affiliated persons, or 
whether the fund had engaged in any illegal or fraudulent activities. 
As part of our examinations of funds, our staff also reviews the 
materials that directors consider in approving the advisory contract.
    There are 2,754 funds currently operating as of December 31, 2021, 
all of which are required to comply with rule 31a-2. The Commission 
staff estimates that, on average, a fund spends 220.4 hours annually to 
comply with the rule. The Commission therefore estimates the total 
annual hour burden of the rule's and form's paperwork requirements to 
be 606,981.60 hours. In addition to the burden hours, the Commission 
staff estimates that the average yearly cost to each fund that is 
subject to rule 31a-2 is about $40,577.95. The Commission estimates 
total annual cost is therefore about $111.8 million.
    Estimates of average burden hours and costs are made solely for 
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 the rule is mandatory. Responses to the 
disclosure requirements 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 
by November 3, 2022 to (i) [email protected] 
and (ii) David Bottom, Director/Chief Information Officer, Securities 
and Exchange Commission, c/o John Pezzullo, 100 F Street NE, 
Washington, DC 20549, or by sending an email to: [email protected].

    Dated: September 28, 2022.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-21445 Filed 10-3-22; 8:45 am]
BILLING CODE 8011-01-P
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