Submission for OMB Review; Comment Request; Extension: Form N-17f-2, 77648 [2023-24951]

Download as PDF 77648 Federal Register / Vol. 88, No. 217 / Monday, November 13, 2023 / Notices khammond on DSKJM1Z7X2PROD with NOTICES development company withdraws its election to be subject to Sections 55 through 65 of the Investment Company Act. The Commission estimates that on average approximately seven business development companies file notifications on Form N–54C each year. Each of those business development companies need only make a single filing of Form N–54C. The Commission further estimates that this information collection imposes a burden of one hour, resulting in a total annual burden of seven hours. Based on the estimated wage rate, the total cost to the business development company industry of the hour burden for complying with Form N–54C would be approximately $2,975.3 Futher, based on an estimated external cost burden of $80 per filing, the total estimated annual external cost burden to the business development company industry for complying with Form N– 54C would be $560. The collection of information under Form N–54C is mandatory. The information provided by the form is not 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 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 December 13, 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. 3 The industry burden is calculated by multiplying the total annual hour burden to prepare Form N–54C (seven) by the estimated hourly wage rate of $425 for a compliance attorney or other business development company employee with similar duties and responsibilities. The estimated wage figure is based on published rates for compliance attorneys from the Securities Industry and Financial Markets Association’s Report on Management & Professional Earnings in the Securities Industry 2013, modified by Commission staff to account for an 1800 hour work-year and inflation, and multiplied by 5.35 to account for bonuses, firm size, employee benefits and overhead, yielding an effective hourly rate of $2,975. VerDate Sep<11>2014 17:12 Nov 09, 2023 Jkt 262001 Dated: November 7, 2023. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2023–24952 Filed 11–9–23; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–317, OMB Control No. 3235–0360] Submission for OMB Review; Comment Request; Extension: Form N–17f–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. 350l et seq.), the Securities and Exchange Commission (the ‘‘Commission’’) has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. Form N–17f–2 (17 CFR 274.220) under the Investment Company Act is entitled ‘‘Certificate of Accounting of Securities and Similar Investments in the Custody of Management Investment Companies.’’ Form N–17f–2 is the cover sheet for the accountant examination certificates filed under rule 17f–2 (17 CFR 270.17f–2) by registered management investment companies (‘‘funds’’) maintaining custody of securities or other investments. Form N–17f–2 facilitates the filing of the accountant’s examination certificates prepared under rule 17f–2. The use of the form allows the certificates to be filed electronically, and increases the accessibility of the examination certificates to both the Commission’s examination staff and interested investors by ensuring that the certificates are filed under the proper Commission file number and the correct name of a fund. Commission staff estimates that it takes: (i) on average 1.25 hours of fund accounting personnel at a total cost of $315 to prepare each Form N–17f–2; 1 and (ii) .75 hours of administrative assistant time at a total cost of $70.50 to file the Form N–17f–2 with the 1 This estimate is based on the following calculation: 1.25 × $252 (fund senior accountant’s hourly rate) = $315. PO 00000 Frm 00100 Fmt 4703 Sfmt 4703 Commission.2 Approximately 165 funds currently file Form N–17f–2 with the Commission. Commission staff estimates that on average each fund files Form N–17f–2 three times annually for a total annual hourly burden per fund of approximately 6 hours at a total cost of $1,156.50. The total annual hour burden for Form N–17f–2 is therefore estimated to be approximately 990 hours with a total cost of approximately $190,822.50.3 Form N–17f–2 does not impose any paperwork-related cost burden other than this internal hour cost. The estimate of average burden hours is made solely for the purposes of the Paperwork Reduction Act, and is not derived from a comprehensive or even a representative survey or study of the costs of Commission rules and forms. Complying with the collections of information required by Form N–17f–2 is mandatory for those funds that maintain custody of their own assets. Responses 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 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 December 13, 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: November 7, 2023. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2023–24951 Filed 11–9–23; 8:45 am] BILLING CODE 8011–01–P 2 This estimate is based on the following calculation: .75 × $94 (administrative assistant hourly rate) = $70.50. 3 This estimate is based on the following calculation: 165 funds × $1,156.50 (total annual cost per fund) = $190,822.50. E:\FR\FM\13NON1.SGM 13NON1

Agencies

[Federal Register Volume 88, Number 217 (Monday, November 13, 2023)]
[Notices]
[Page 77648]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-24951]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-317, OMB Control No. 3235-0360]


Submission for OMB Review; Comment Request; Extension: Form N-
17f-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. 350l et seq.), the Securities and Exchange 
Commission (the ``Commission'') has submitted to the Office of 
Management and Budget a request for extension of the previously 
approved collection of information discussed below.
    Form N-17f-2 (17 CFR 274.220) under the Investment Company Act is 
entitled ``Certificate of Accounting of Securities and Similar 
Investments in the Custody of Management Investment Companies.'' Form 
N-17f-2 is the cover sheet for the accountant examination certificates 
filed under rule 17f-2 (17 CFR 270.17f-2) by registered management 
investment companies (``funds'') maintaining custody of securities or 
other investments. Form N-17f-2 facilitates the filing of the 
accountant's examination certificates prepared under rule 17f-2. The 
use of the form allows the certificates to be filed electronically, and 
increases the accessibility of the examination certificates to both the 
Commission's examination staff and interested investors by ensuring 
that the certificates are filed under the proper Commission file number 
and the correct name of a fund.
    Commission staff estimates that it takes: (i) on average 1.25 hours 
of fund accounting personnel at a total cost of $315 to prepare each 
Form N-17f-2; \1\ and (ii) .75 hours of administrative assistant time 
at a total cost of $70.50 to file the Form N-17f-2 with the 
Commission.\2\ Approximately 165 funds currently file Form N-17f-2 with 
the Commission. Commission staff estimates that on average each fund 
files Form N-17f-2 three times annually for a total annual hourly 
burden per fund of approximately 6 hours at a total cost of $1,156.50. 
The total annual hour burden for Form N-17f-2 is therefore estimated to 
be approximately 990 hours with a total cost of approximately 
$190,822.50.\3\ Form N-17f-2 does not impose any paperwork-related cost 
burden other than this internal hour cost.
---------------------------------------------------------------------------

    \1\ This estimate is based on the following calculation: 1.25 x 
$252 (fund senior accountant's hourly rate) = $315.
    \2\ This estimate is based on the following calculation: .75 x 
$94 (administrative assistant hourly rate) = $70.50.
    \3\ This estimate is based on the following calculation: 165 
funds x $1,156.50 (total annual cost per fund) = $190,822.50.
---------------------------------------------------------------------------

    The estimate of average burden hours is made solely for the 
purposes of the Paperwork Reduction Act, and is not derived from a 
comprehensive or even a representative survey or study of the costs of 
Commission rules and forms. Complying with the collections of 
information required by Form N-17f-2 is mandatory for those funds that 
maintain custody of their own assets. Responses 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 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 December 13, 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: November 7, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-24951 Filed 11-9-23; 8:45 am]
BILLING CODE 8011-01-P
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