Submission for OMB Review; Comment Request; Extension: Form N-54C, 77647-77648 [2023-24952]

Download as PDF khammond on DSKJM1Z7X2PROD with NOTICES Federal Register / Vol. 88, No. 217 / Monday, November 13, 2023 / Notices conversations with fund representatives, it is estimated that rule 31a–1 imposes an average burden of approximately 1,750 hours annually per series for a total of 7,000 annual hours per fund. The estimated total annual burden for all 2,766 funds subject to the rule therefore is approximately 19,362,000 hours. Based on conversations with fund representatives, however, the Commission staff estimates that even absent the requirements of rule 31a–1, 90 percent of the records created pursuant to the rule are the type that generally would be created as a matter of normal business practice and to prepare financial statements. Thus, the Commission staff estimates that the total annual burden associated with rule 31a– 1 is 1,936,200 hours. 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. The collection of information required by rule 31a–1 is mandatory. Responses will not be kept confidential. The records required by rule 31a–1 are required to be preserved pursuant to rule 31a–2 under the Investment Company Act (17 CFR 270.31a–2). Rule 31a–2 requires that certain of these records be preserved permanently, and that others be preserved six years from the end of the fiscal year in which any transaction occurred. In both cases, the records should be kept in an easily accessible place for the first two years. 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 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. 2023–24955 Filed 11–9–23; 8:45 am] BILLING CODE 8011–01–P VerDate Sep<11>2014 17:12 Nov 09, 2023 Jkt 262001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–98860; File No. SR– CboeBZX–2023–063] Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Adopt an Alternative to the Minimum $4 Price Requirement for Companies Seeking To List Tier II Securities on the Exchange November 6, 2023. On September 19, 2023, Cboe BZX Exchange, Inc. (‘‘BZX’’ or the ‘‘Exchange’’) 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 proposed rule change to adopt an alternative to the minimum $4 price requirement for companies seeking to list Tier II securities on the Exchange. The proposed rule change was published for comment in the Federal Register on October 2, 2023.3 Section 19(b)(2) of the Act 4 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days (i) as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day after publication of the notice for this proposed rule change is November 16, 2023. The Commission is extending this 45-day time period. The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the comments received. Accordingly, pursuant to section 19(b)(2) of the Act,5 the Commission designates December 31, 2023, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 98532 (Sept. 26, 2023) 88 FR 67852. Comments received on the proposed rule change are available at: https://www.sec.gov/comments/sr-cboebzx-2023063/srcboebzx2023063.htm. 4 15 U.S.C. 78s(b)(2). 5 Id. 2 17 PO 00000 Frm 00099 Fmt 4703 Sfmt 4703 77647 whether to disapprove, the proposed rule change (File No. SR–CboeBZX– 2023–063). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2023–24864 Filed 11–9–23; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–184, OMB Control No. 3235–0236] Submission for OMB Review; Comment Request; Extension: Form N–54C 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 a request for extension of the previously approved collection of information discussed below. Certain investment companies can elect to be regulated as business development companies, as defined in section 2(a)(48) of the Investment Company Act of 1940 (‘‘Investment Company Act’’), under sections 55 through 65 of the Investment Company Act. Under section 54(a) of the Investment Company Act,1 any company defined in section 2(a)(48)(A) and (B) of the Investment Company Act may, if it meets certain enumerated eligibility requirements, elect to be subject to the provisions of Sections 55 through 65 of the Investment Company Act by filing with the Commission a notification of election. Under section 54(c) of the Investment Company Act,2 any business development company may voluntarily withdraw its election under section 54(a) of the Investment Company Act by filing a notice of withdrawal of election with the Commission. The Commission has adopted Form N–54C as the form for the notification of withdrawal of election to be subject to Sections 55 through 65 of the Investment Company Act. The purpose of Form N–54C is to notify the Commission that the business 6 17 CFR 200.30–3(a)(31). U.S.C. 80a–53(a). 2 15 U.S.C. 80a–53(c). 1 15 E:\FR\FM\13NON1.SGM 13NON1 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]
[Pages 77647-77648]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-24952]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-184, OMB Control No. 3235-0236]


Submission for OMB Review; Comment Request; Extension: Form N-54C

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 a request for extension of the previously 
approved collection of information discussed below.
    Certain investment companies can elect to be regulated as business 
development companies, as defined in section 2(a)(48) of the Investment 
Company Act of 1940 (``Investment Company Act''), under sections 55 
through 65 of the Investment Company Act. Under section 54(a) of the 
Investment Company Act,\1\ any company defined in section 2(a)(48)(A) 
and (B) of the Investment Company Act may, if it meets certain 
enumerated eligibility requirements, elect to be subject to the 
provisions of Sections 55 through 65 of the Investment Company Act by 
filing with the Commission a notification of election. Under section 
54(c) of the Investment Company Act,\2\ any business development 
company may voluntarily withdraw its election under section 54(a) of 
the Investment Company Act by filing a notice of withdrawal of election 
with the Commission. The Commission has adopted Form N-54C as the form 
for the notification of withdrawal of election to be subject to 
Sections 55 through 65 of the Investment Company Act. The purpose of 
Form N-54C is to notify the Commission that the business

[[Page 77648]]

development company withdraws its election to be subject to Sections 55 
through 65 of the Investment Company Act.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 80a-53(a).
    \2\ 15 U.S.C. 80a-53(c).
---------------------------------------------------------------------------

    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.
---------------------------------------------------------------------------

    \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.
---------------------------------------------------------------------------

    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) [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. 2023-24952 Filed 11-9-23; 8:45 am]
BILLING CODE 8011-01-P
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