Agency Information Collection Activities; Submission for OMB Review; Comment Request; Statutory Exemption for Cross-Trading of Securities, 76511-76512 [2022-27075]
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Federal Register / Vol. 87, No. 239 / Wednesday, December 14, 2022 / Notices
DEPARTMENT OF LABOR
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Class
Exemption for Plan Asset Transactions
Determined by In-House Asset
Managers
Notice of availability; request
for comments.
ACTION:
The Department of Labor
(DOL) is submitting this Employee
Benefits Security Administration
(EBSA)-sponsored information
collection request (ICR) to the Office of
Management and Budget (OMB) for
review and approval in accordance with
the Paperwork Reduction Act of 1995
(PRA). Public comments on the ICR are
invited.
DATES: The OMB will consider all
written comments that the agency
receives on or before January 13, 2023.
ADDRESSES: 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.
Comments are invited on: (1) whether
the collection of information is
necessary for the proper performance of
the functions of the Department,
including whether the information will
have practical utility; (2) if the
information will be processed and used
in a timely manner; (3) the accuracy of
the agency’s estimates of the burden and
cost of the collection of information,
including the validity of the
methodology and assumptions used; (4)
ways to enhance the quality, utility and
clarity of the information collection; and
(5) ways to minimize the burden of the
collection of information on those who
are to respond, including the use of
automated collection techniques or
other forms of information technology.
FOR FURTHER INFORMATION CONTACT:
Mara Blumenthal by telephone at 202–
693–8538, or by email at DOL_PRA_
PUBLIC@dol.gov.
SUPPLEMENTARY INFORMATION: Section
408(a) of the Employee Retirement
Income Security Act (ERISA) authorizes
the Secretary of Labor ‘‘to grant a
conditional or unconditional exemption
of any fiduciary or class of fiduciaries or
transactions, from all or part of the
restrictions imposed by section 406 and
407(a).’’ Class exemption PTE 96–23,
granted on April 10, 1996, permits
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SUMMARY:
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17:11 Dec 13, 2022
Jkt 259001
various parties in interest to employee
benefit plans to engage in transactions
involving plan assets if, among other
requirements, the assets are managed by
an in-house asset manager (INHAM).
The information collection requirements
that are conditions of the PTE include
written policies and procedures by an
INHAM and audit requirements. For
additional substantive information
about this ICR, see the related notice
published in the Federal Register on
July 22, 2022 (87 FR 43897).
This information collection is subject
to the PRA. A Federal agency generally
cannot conduct or sponsor a collection
of information, and the public is
generally not required to respond to an
information collection, unless the OMB
approves it and displays a currently
valid OMB Control Number. In addition,
notwithstanding any other provisions of
law, no person shall generally be subject
to penalty for failing to comply with a
collection of information that does not
display a valid OMB Control Number.
See 5 CFR 1320.5(a) and 1320.6.
DOL seeks PRA authorization for this
information collection for three (3)
years. OMB authorization for an ICR
cannot be for more than three (3) years
without renewal. The DOL notes that
information collection requirements
submitted to the OMB for existing ICRs
receive a month-to-month extension
while they undergo review.
Agency: DOL–EBSA.
Title of Collection: Class Exemption
for Plan Asset Transactions Determined
by In-House Asset Managers.
OMB Control Number: 1210–0145.
Affected Public: Private Sector—
Businesses or other for-profits and notfor-profit institutions.
Total Estimated Number of
Respondents: 20.
Total Estimated Number of
Responses: 20.
Total Estimated Annual Time Burden:
940 hours.
Total Estimated Annual Other Costs
Burden: $400,000.
(Authority: 44 U.S.C. 3507(a)(1)(D))
Dated: December 8, 2022.
Mara Blumenthal,
Senior PRA Analyst.
[FR Doc. 2022–27076 Filed 12–13–22; 8:45 am]
BILLING CODE 4510–29–P
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76511
DEPARTMENT OF LABOR
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Statutory
Exemption for Cross-Trading of
Securities
Notice of availability; request
for comments.
ACTION:
The Department of Labor
(DOL) is submitting this Employee
Benefits Security Administration
(EBSA)-sponsored information
collection request (ICR) to the Office of
Management and Budget (OMB) for
review and approval in accordance with
the Paperwork Reduction Act of 1995
(PRA). Public comments on the ICR are
invited.
DATES: The OMB will consider all
written comments that the agency
receives on or before January 13, 2023.
ADDRESSES: 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.
Comments are invited on: (1) whether
the collection of information is
necessary for the proper performance of
the functions of the Department,
including whether the information will
have practical utility; (2) if the
information will be processed and used
in a timely manner; (3) the accuracy of
the agency’s estimates of the burden and
cost of the collection of information,
including the validity of the
methodology and assumptions used; (4)
ways to enhance the quality, utility and
clarity of the information collection; and
(5) ways to minimize the burden of the
collection of information on those who
are to respond, including the use of
automated collection techniques or
other forms of information technology.
FOR FURTHER INFORMATION CONTACT:
Mara Blumenthal by telephone at 202–
693–8538, or by email at DOL_PRA_
PUBLIC@dol.gov.
SUPPLEMENTARY INFORMATION: The
Statutory Exemption for Cross-Trading
of Securities regulation implements the
content requirements for the written
cross-trading policies and procedures
required under section 408(b)(19)(H) of
ERISA, as added by section 611(g) of the
Pension Protection Act of 2006 (the
PPA). The statutory exemption exempts
from the prohibitions of sections
406(a)(1)(A) and 406(b)(2) of ERISA
SUMMARY:
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76512
Federal Register / Vol. 87, No. 239 / Wednesday, December 14, 2022 / Notices
lotter on DSK11XQN23PROD with NOTICES1
cross-trading transactions involving the
purchase and sale of a security between
an account holding assets of a pension
plan and any other account managed by
the same investment manager, provided
that certain conditions are satisfied. The
information collection requirements of
the regulation are third-party
disclosures to plan fiduciaries involving
the development and initial disclosure
of written policies and procedures
pertaining to an investment manager’s
cross-trading program under the
statutory exemption for cross-trading.
For additional substantive information
about this ICR, see the related notice
published in the Federal Register on
July 22, 2022 (87 FR 43897).
This information collection is subject
to the PRA. A Federal agency generally
cannot conduct or sponsor a collection
of information, and the public is
generally not required to respond to an
information collection, unless the OMB
approves it and displays a currently
valid OMB Control Number. In addition,
notwithstanding any other provisions of
law, no person shall generally be subject
to penalty for failing to comply with a
collection of information that does not
display a valid OMB Control Number.
See 5 CFR 1320.5(a) and 1320.6.
DOL seeks PRA authorization for this
information collection for three (3)
years. OMB authorization for an ICR
cannot be for more than three (3) years
without renewal. The DOL notes that
information collection requirements
submitted to the OMB for existing ICRs
receive a month-to-month extension
while they undergo review.
Agency: DOL–EBSA.
Title of Collection: Statutory
Exemption for Cross-Trading of
Securities.
OMB Control Number: 1210–0130.
Affected Public: Private Sector—
Businesses or other for-profits and notfor-profit institutions.
Total Estimated Number of
Respondents: 271.
Total Estimated Number of
Responses: 2,439.
Total Estimated Annual Time Burden:
2,832 hours.
Total Estimated Annual Other Costs
Burden: $15,854.
(Authority: 44 U.S.C. 3507(a)(1)(D))
Dated: December 8, 2022.
Mara Blumenthal,
Senior PRA Analyst.
[FR Doc. 2022–27075 Filed 12–13–22; 8:45 am]
BILLING CODE 4510–29–P
VerDate Sep<11>2014
17:11 Dec 13, 2022
Jkt 259001
DEPARTMENT OF LABOR
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Class
Exemption for Certain Transactions
Involving Purchase of Securities
Where Issuer May Use Proceeds To
Reduce or Retire Indebtedness to
Parties in Interest
Notice of availability; request
for comments.
ACTION:
The Department of Labor
(DOL) is submitting this Employee
Benefits Security Administration
(EBSA)-sponsored information
collection request (ICR) to the Office of
Management and Budget (OMB) for
review and approval in accordance with
the Paperwork Reduction Act of 1995
(PRA). Public comments on the ICR are
invited.
DATES: The OMB will consider all
written comments that the agency
receives on or before January 13, 2023.
ADDRESSES: 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.
Comments are invited on: (1) whether
the collection of information is
necessary for the proper performance of
the functions of the Department,
including whether the information will
have practical utility; (2) if the
information will be processed and used
in a timely manner; (3) the accuracy of
the agency’s estimates of the burden and
cost of the collection of information,
including the validity of the
methodology and assumptions used; (4)
ways to enhance the quality, utility and
clarity of the information collection; and
(5) ways to minimize the burden of the
collection of information on those who
are to respond, including the use of
automated collection techniques or
other forms of information technology.
FOR FURTHER INFORMATION CONTACT:
Mara Blumenthal by telephone at 202–
693–8538, or by email at DOL_PRA_
PUBLIC@dol.gov.
SUPPLEMENTARY INFORMATION: Section
408(a) of the Employee Retirement
Income Security Act (ERISA) authorizes
the Secretary of Labor ‘‘to grant a
conditional or unconditional exemption
of any fiduciary or class of fiduciaries or
transactions, from all or part of the
restrictions imposed by section 406 and
SUMMARY:
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Frm 00061
Fmt 4703
Sfmt 9990
407(a).’’ Class exemption PTE 80–83,
granted on November 4, 1980, allows
employee benefit plans to purchase
securities, which may aid the issuer of
the securities to reduce or retire
indebtedness to a party in interest.
Entities who rely on the exemption are
mainly banks that purchase, on behalf of
employee benefit plans, securities
issued by a corporation indebted to the
bank that is a party in interest to the
plan. The ICR contains recordkeeping
requirement to keep records regarding
transactions covered by the exemption
that are sufficient to establish that the
conditions of the exemption have been
met. For additional substantive
information about this ICR, see the
related notice published in the Federal
Register on July 22, 2022 (87 FR 43897).
This information collection is subject
to the PRA. A Federal agency generally
cannot conduct or sponsor a collection
of information, and the public is
generally not required to respond to an
information collection, unless the OMB
approves it and displays a currently
valid OMB Control Number. In addition,
notwithstanding any other provisions of
law, no person shall generally be subject
to penalty for failing to comply with a
collection of information that does not
display a valid OMB Control Number.
See 5 CFR 1320.5(a) and 1320.6.
DOL seeks PRA authorization for this
information collection for three (3)
years. OMB authorization for an ICR
cannot be for more than three (3) years
without renewal. The DOL notes that
information collection requirements
submitted to the OMB for existing ICRs
receive a month-to-month extension
while they undergo review.
Agency: DOL–EBSA.
Title of Collection: Class Exemption
for Certain Transactions Involving
Purchase of Securities where Issuer May
Use Proceeds to Reduce or Retire
Indebtedness to Parties in Interest.
OMB Control Number: 1210–0064.
Affected Public: Private Sector—
Businesses or other for-profits.
Total Estimated Number of
Respondents: 25.
Total Estimated Number of
Responses: 25.
Total Estimated Annual Time Burden:
15 hours.
Total Estimated Annual Other Costs
Burden: $0.
(Authority: 44 U.S.C. 3507(a)(1)(D))
Dated: December 8, 2022.
Mara Blumenthal,
Senior PRA Analyst.
[FR Doc. 2022–27074 Filed 12–13–22; 8:45 am]
BILLING CODE 4510–29–P
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]]>Agencies
[Federal Register Volume 87, Number 239 (Wednesday, December 14, 2022)]
[Notices]
[Pages 76511-76512]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-27075]
-----------------------------------------------------------------------
DEPARTMENT OF LABOR
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Statutory Exemption for Cross-Trading of
Securities
ACTION: Notice of availability; request for comments.
-----------------------------------------------------------------------
SUMMARY: The Department of Labor (DOL) is submitting this Employee
Benefits Security Administration (EBSA)-sponsored information
collection request (ICR) to the Office of Management and Budget (OMB)
for review and approval in accordance with the Paperwork Reduction Act
of 1995 (PRA). Public comments on the ICR are invited.
DATES: The OMB will consider all written comments that the agency
receives on or before January 13, 2023.
ADDRESSES: 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.
Comments are invited on: (1) whether the collection of information
is necessary for the proper performance of the functions of the
Department, including whether the information will have practical
utility; (2) if the information will be processed and used in a timely
manner; (3) the accuracy of the agency's estimates of the burden and
cost of the collection of information, including the validity of the
methodology and assumptions used; (4) ways to enhance the quality,
utility and clarity of the information collection; and (5) ways to
minimize the burden of the collection of information on those who are
to respond, including the use of automated collection techniques or
other forms of information technology.
FOR FURTHER INFORMATION CONTACT: Mara Blumenthal by telephone at 202-
693-8538, or by email at [email protected].
SUPPLEMENTARY INFORMATION: The Statutory Exemption for Cross-Trading of
Securities regulation implements the content requirements for the
written cross-trading policies and procedures required under section
408(b)(19)(H) of ERISA, as added by section 611(g) of the Pension
Protection Act of 2006 (the PPA). The statutory exemption exempts from
the prohibitions of sections 406(a)(1)(A) and 406(b)(2) of ERISA
[[Page 76512]]
cross-trading transactions involving the purchase and sale of a
security between an account holding assets of a pension plan and any
other account managed by the same investment manager, provided that
certain conditions are satisfied. The information collection
requirements of the regulation are third-party disclosures to plan
fiduciaries involving the development and initial disclosure of written
policies and procedures pertaining to an investment manager's cross-
trading program under the statutory exemption for cross-trading. For
additional substantive information about this ICR, see the related
notice published in the Federal Register on July 22, 2022 (87 FR
43897).
This information collection is subject to the PRA. A Federal agency
generally cannot conduct or sponsor a collection of information, and
the public is generally not required to respond to an information
collection, unless the OMB approves it and displays a currently valid
OMB Control Number. In addition, notwithstanding any other provisions
of law, no person shall generally be subject to penalty for failing to
comply with a collection of information that does not display a valid
OMB Control Number. See 5 CFR 1320.5(a) and 1320.6.
DOL seeks PRA authorization for this information collection for
three (3) years. OMB authorization for an ICR cannot be for more than
three (3) years without renewal. The DOL notes that information
collection requirements submitted to the OMB for existing ICRs receive
a month-to-month extension while they undergo review.
Agency: DOL-EBSA.
Title of Collection: Statutory Exemption for Cross-Trading of
Securities.
OMB Control Number: 1210-0130.
Affected Public: Private Sector-- Businesses or other for-profits
and not-for-profit institutions.
Total Estimated Number of Respondents: 271.
Total Estimated Number of Responses: 2,439.
Total Estimated Annual Time Burden: 2,832 hours.
Total Estimated Annual Other Costs Burden: $15,854.
(Authority: 44 U.S.C. 3507(a)(1)(D))
Dated: December 8, 2022.
Mara Blumenthal,
Senior PRA Analyst.
[FR Doc. 2022-27075 Filed 12-13-22; 8:45 am]
BILLING CODE 4510-29-P
