Submission for OMB Review; Comment Request; Extension: Investment Company Interactive Data, 17900-17901 [2023-06046]

Download as PDF 17900 Federal Register / Vol. 88, No. 57 / Friday, March 24, 2023 / Notices provision of the Act, or the rules and regulations thereunder. Interested persons are invited to submit written data, views, and arguments regarding whether the Proposed Rule Change should be approved or disapproved by April 14, 2023. Any person who wishes to file a rebuttal to any other person’s submission must file that rebuttal by April 28, 2023. The Commission asks that commenters address the sufficiency of NSCC’s statements in support of the Proposed Rule Change, which are set forth in the Notice,22 in addition to any other comments they may wish to submit about the Proposed Rule Change. Comments may be submitted by any of the following methods: lotter on DSK11XQN23PROD with NOTICES1 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– NSCC–2022–015 on the subject line. 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–NSCC–2022–015. 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 NSCC and on DTCC’s website (https://dtcc.com/legal/sec-rulefilings.aspx). All comments received will be posted without change. Persons 22 See Notice, supra note 3. VerDate Sep<11>2014 19:18 Mar 23, 2023 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–NSCC– 2022–015 and should be submitted on or before April 14, 2023. Rebuttal comments should be submitted by April 28, 2023. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.23 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2023–06059 Filed 3–23–23; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–580, OMB Control No. 3235–0642] Submission for OMB Review; Comment Request; Extension: Investment Company Interactive Data 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’’) 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 (‘‘OMB’’) for extension and approval. Certain funds have current requirements to submit to the Commission information included in their registration statements, or information included in or amended by any post-effective amendments to such registration statements, in response to certain form items in structured data language (‘‘Investment Company Interactive Data’’). This also includes the requirement for funds to submit interactive data to the Commission for any form of prospectus filed pursuant to 17 CFR 230.497(c) or 17 CFR 230.497(e) under the Securities Act of 1933 (‘‘Securities Act’’) [15 U.S.C. 77a et seq.] that includes information in response to certain form items. This collection of information relates to regulations and forms adopted under the Securities Act, and the Investment Company Act of 23 17 Jkt 259001 PO 00000 CFR 200.30–3(a)(31). Frm 00119 Fmt 4703 Sfmt 4703 1940 (‘‘Investment Company Act’’) [15 U.S.C. 80a–1 et seq.], that set forth disclosure requirements for funds and other issuers. On October 26, 2022, the Commission adopted rule and form amendments that require open-end management investment companies (‘‘open-end funds’’) to transmit concise and visually engaging annual and semi-annual reports to shareholders that highlight key information that is particularly important for retail investors to assess and monitor their fund investments.1 The Commission also adopted amendments to Form N–1A, Form N– CSR, and rule 405 of Regulation S–T to require certain new structured data requirements for open-end funds.2 Specifically, the final rule and form amendments require open-end funds to tag their shareholder report contents using Inline eXtensible Business Reporting Language or ‘‘Inline XBRL.’’ These requirements will make open-end funds’ shareholder report disclosure more readily available and easily accessible for aggregation, comparison, filtering, and other analysis. The Commission estimates that the total current annual hour burden associated with the Investment Company Interactive Data requirements is approximately 252,684 hours. Based on estimates of 11,840 open-end funds, each incurring 6 hours on average annually to tag their shareholder reports using Inline XBRL, the Commission estimates that, in the aggregate, funds will incur an additional 71,040 annual burden hours. The Commission therefore estimates that, in the aggregate, Investment Company Interactive Data requirements will result in approximately 323,724 annual burden hours (252,684 currentlyestimated annual burden hours + 71,040 additional estimated annual burden hours). The Commission estimates that the current average cost burden associated with the Investment Company Interactive Data requirements is approximately $15,449,450 per year. Based on the estimate of 11,840 openend funds, each incurring approximately $50 additional annual external cost associated with tagging their shareholder reports using Inline XBRL, the Commission estimates that, in the aggregate, funds will incur an 1 See Tailored Shareholder Reports for Mutual Funds and Exchange-Traded Funds; Fee Information in Investment Company Advertisements, Investment Company Act Release No. 34731 (Oct. 26, 2022) (‘‘Shareholder Reports Adopting Release’’). 2 See Shareholder Reports Adopting Release at section II.H. E:\FR\FM\24MRN1.SGM 24MRN1 Federal Register / Vol. 88, No. 57 / Friday, March 24, 2023 / Notices additional $592,000 in annual external costs. The Commission therefore estimates that, in the aggregate, Investment Company Interactive Data requirements will result in approximately $16,041,450 in external costs ($15,449,450 in currentlyestimated external costs + $592,000 in additional external costs). 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. The collection of information under the Investment Company Interactive Data requirements is mandatory for all funds. 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 April 24, 2023 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: March 20, 2023. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2023–06046 Filed 3–23–23; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–181, OMB Control No. 3235–0184] lotter on DSK11XQN23PROD with NOTICES1 Submission for OMB Review; Comment Request; Extension: Form S–6 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 VerDate Sep<11>2014 19:18 Mar 23, 2023 Jkt 259001 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. The title for the collection of information is ‘‘Form S–6 (17 CFR 239.16), for Registration under the Securities Act of 1933 of Securities of Unit Investment Trusts Registered on Form N–8B–2 (17 CFR 274.13).’’ Form S–6 is a form used for registration under the Securities Act of 1933 (15 U.S.C. 77a et seq.) (‘‘Securities Act’’) of securities of any unit investment trust (‘‘UIT’’) registered under the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) (‘‘Investment Company Act’’) on Form N–8B–2. Section 5 of the Securities Act (15 U.S.C. 77e) requires the filing of a registration statement prior to the offer of securities to the public and that the statement be effective before any securities are sold. Section 5(b) of the Securities Act requires that investors be provided with a prospectus containing the information required in a registration statement prior to the sale or at the time of confirmation or delivery of the securities. Section 10(a)(3) of the Securities Act (15 U.S.C. 77j(a)(3)) provides that when a prospectus is used more than nine months after the effective date of the registration statement, the information therein shall be as of a date not more than sixteen months prior to such use. As a result, most UITs update their registration statements under the Securities Act on an annual basis in order that their sponsors may continue to maintain a secondary market in the units. UITs that are registered under the Investment Company Act on Form N– 8B–2 file post-effective amendments to their registration statements on Form S– 6 in order to update their prospectuses. The purpose of Form S–6 is to meet the filing and disclosure requirements of the Securities Act and to enable filers to provide investors with information necessary to evaluate an investment in the security. This information collection differs significantly from many other federal information collections, which are primarily for the use and benefit of the collecting agency. The information required to be filed with the Commission permits verification of compliance with securities law requirements and assures the public availability and dissemination of the information. The Commission estimates that there are approximately 1,019 initial registration statements filed on Form S– 6 annually and approximately 607 annual post-effective amendments to PO 00000 Frm 00120 Fmt 4703 Sfmt 9990 17901 previously effective registration statements filed on Form S–6. The Commission estimates that the hour burden for preparing and filing an initial registration statement on Form S– 6 is 45 hours and for preparing and filing a post-effective amendment to a previously effective registration statement filed on Form S–6 is 40 hours. Therefore, we estimate that the total hour burden of preparing and filing registration statements on Form S–6 for all affected UITs is 68,365 hours. We estimate that the cost burden of preparing and filing an initial registration statement on Form S–6 is $38,825 and for preparing and filing a post-effective amendment is $23,434. Therefore, we estimate that the total cost burden of preparing and filing registration statements on Form S–6 for all affected UITs is $53,787,113. Estimates of average burden hours and costs 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. Compliance with the collection of information requirements of Form S–6 is mandatory. Responses to the collection of information 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 April 24, 2023 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: March 20, 2023. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2023–06045 Filed 3–23–23; 8:45 am] BILLING CODE 8011–01–P E:\FR\FM\24MRN1.SGM 24MRN1

Agencies

[Federal Register Volume 88, Number 57 (Friday, March 24, 2023)]
[Notices]
[Pages 17900-17901]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-06046]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-580, OMB Control No. 3235-0642]


Submission for OMB Review; Comment Request; Extension: Investment 
Company Interactive Data

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'') 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 (``OMB'') for extension and approval.
    Certain funds have current requirements to submit to the Commission 
information included in their registration statements, or information 
included in or amended by any post-effective amendments to such 
registration statements, in response to certain form items in 
structured data language (``Investment Company Interactive Data''). 
This also includes the requirement for funds to submit interactive data 
to the Commission for any form of prospectus filed pursuant to 17 CFR 
230.497(c) or 17 CFR 230.497(e) under the Securities Act of 1933 
(``Securities Act'') [15 U.S.C. 77a et seq.] that includes information 
in response to certain form items. This collection of information 
relates to regulations and forms adopted under the Securities Act, and 
the Investment Company Act of 1940 (``Investment Company Act'') [15 
U.S.C. 80a-1 et seq.], that set forth disclosure requirements for funds 
and other issuers.
    On October 26, 2022, the Commission adopted rule and form 
amendments that require open-end management investment companies 
(``open-end funds'') to transmit concise and visually engaging annual 
and semi-annual reports to shareholders that highlight key information 
that is particularly important for retail investors to assess and 
monitor their fund investments.\1\ The Commission also adopted 
amendments to Form N-1A, Form N-CSR, and rule 405 of Regulation S-T to 
require certain new structured data requirements for open-end funds.\2\ 
Specifically, the final rule and form amendments require open-end funds 
to tag their shareholder report contents using Inline eXtensible 
Business Reporting Language or ``Inline XBRL.'' These requirements will 
make open-end funds' shareholder report disclosure more readily 
available and easily accessible for aggregation, comparison, filtering, 
and other analysis.
---------------------------------------------------------------------------

    \1\ See Tailored Shareholder Reports for Mutual Funds and 
Exchange-Traded Funds; Fee Information in Investment Company 
Advertisements, Investment Company Act Release No. 34731 (Oct. 26, 
2022) (``Shareholder Reports Adopting Release'').
    \2\ See Shareholder Reports Adopting Release at section II.H.
---------------------------------------------------------------------------

    The Commission estimates that the total current annual hour burden 
associated with the Investment Company Interactive Data requirements is 
approximately 252,684 hours. Based on estimates of 11,840 open-end 
funds, each incurring 6 hours on average annually to tag their 
shareholder reports using Inline XBRL, the Commission estimates that, 
in the aggregate, funds will incur an additional 71,040 annual burden 
hours. The Commission therefore estimates that, in the aggregate, 
Investment Company Interactive Data requirements will result in 
approximately 323,724 annual burden hours (252,684 currently-estimated 
annual burden hours + 71,040 additional estimated annual burden hours).
    The Commission estimates that the current average cost burden 
associated with the Investment Company Interactive Data requirements is 
approximately $15,449,450 per year. Based on the estimate of 11,840 
open-end funds, each incurring approximately $50 additional annual 
external cost associated with tagging their shareholder reports using 
Inline XBRL, the Commission estimates that, in the aggregate, funds 
will incur an

[[Page 17901]]

additional $592,000 in annual external costs. The Commission therefore 
estimates that, in the aggregate, Investment Company Interactive Data 
requirements will result in approximately $16,041,450 in external costs 
($15,449,450 in currently-estimated external costs + $592,000 in 
additional external costs).
    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.
    The collection of information under the Investment Company 
Interactive Data requirements is mandatory for all funds. 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 April 24, 2023 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: March 20, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-06046 Filed 3-23-23; 8:45 am]
BILLING CODE 8011-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.