Proposed Collection; Comment Request; Extension: Rule 34b-1, 4645 [2024-01349]
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Federal Register / Vol. 89, No. 16 / Wednesday, January 24, 2024 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.19
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–01304 Filed 1–23–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 3235–0346, File No. 270–305]
ddrumheller on DSK120RN23PROD with NOTICES1
Proposed Collection; Comment
Request; Extension: Rule 34b–1
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 for extension
and approval.
Rule 34b–1 under the Investment
Company Act (17 CFR 270.34b–1)
governs sales material that accompanies
or follows the delivery of a statutory
prospectus (‘‘sales literature’’). Rule
34b–1 deems to be materially
misleading any investment company
(‘‘fund’’) sales literature required to be
filed with the Securities and Exchange
Commission (‘‘Commission’’) by Section
24(b) of the Investment Company Act
(15 U.S.C. 80a–24(b)) that includes
performance data, unless the sales
literature also includes the appropriate
uniformly computed data and the
legend disclosure required in
investment company advertisements by
rule 482 under the Securities Act of
1933 (17 CFR 230.482) (‘‘rule 482’’).
Additionally, rule 34b–1 deems to be
materially misleading any fund sales
literature intended for distribution to
prospective investors that includes fee
and expense information, unless that
sales literature complies with the
disclosure and timeliness requirements
of rule 482.1 These requirements are
designed to prevent misleading
performance claims by funds and to
19 17
CFR 200.30–3(a)(12).
provisions of rule 34b–1 apply to any
registered investment company or business
development company advertisement, pamphlet,
circular, form letter, or other sales literature
addressed to or intended for distribution to
prospective investors in connection with a public
offering. See rule 34b–1(c).
1 These
VerDate Sep<11>2014
17:06 Jan 23, 2024
Jkt 262001
enable investors to make meaningful
comparisons among funds.
The Commission estimates that on
average approximately 8,289 2 responses
that include the information required by
rule 34b–1 each year. The burden
resulting from the collection of
information requirements of rule 34b–1
is estimated to be 11 hours per
response.3 The total hourly burden for
rule 34b–1 is approximately 91,179
hours per year in the aggregate.4
The collection of information under
rule 34b–1 is mandatory. The
information provided under rule 34b–1
is not kept confidential. The
Commission 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.
Written comments are invited on: (a)
whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimate of the burden of the collection
of information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology. Consideration will be given
to comments and suggestions submitted
by March 25, 2024.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
Please direct your written comments
to: David Bottom, Chief Information
Officer, Securities and Exchange
Commission, c/o John Pezzullo, 100 F
Street NE, Washington, DC 20549 or
send an email to: PRA_Mailbox@
sec.gov.
2 The estimated average number of responses to
rule 34b–1 for the two-year period from October 1,
2021, to November 30, 2023, comprises 7,912 filings
submitted to FINRA and 377 filings submitted to
the Commission.
3 Previous PRA extensions for rule 34b–1
assumed an estimated annual burden of 6 hours per
response in complying with paragraphs a and b of
rule 34b–1, 3 hours per response in complying with
the fee and expense figure disclosure requirements
of paragraph c, and 2 hours for the fee waivers/
expense reimbursement arrangements disclosure
requirements of paragraph c, while estimating that
only 96% of relevant responses would need to
comply with all of the paragraph c requirements.
For purposes of this extension, we are assuming
that 100% of the responsive filings identified will
incur burdens for all of the rule’s requirements,
such that a total of 11 hours per response per year
(6 + 3 + 2 = 11). We recognize that this might
overstate the total burden.
4 8,289 responses × 11 hours per response =
91,179 hours.
(additions are italicized; deletions are
[bracketed])
PO 00000
Frm 00057
Fmt 4703
Sfmt 4703
Dated: January 19, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–01349 Filed 1–23–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–99387; File No. SR–
CboeBZX–2024–005]
Self-Regulatory Organizations; Cboe
BZX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change To Amend Rule
21.17
January 18, 2024.
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on January 3,
2024, Cboe BZX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘BZX’’) filed with the
Securities and Exchange Commission
(the ‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the Exchange. The
Exchange filed the proposal as a ‘‘noncontroversial’’ proposed rule change
pursuant to section 19(b)(3)(A)(iii) of the
Act 3 and Rule 19b–4(f)(6) thereunder.4
The Commission is publishing this
notice to solicit comments on the
proposed rule change from interested
persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Cboe BZX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘BZX’’) proposes to
amend Rule 21.17. The text of the
proposed rule change is provided
below.
*
*
*
*
*
Rules of Cboe BZX Exchange, Inc.
*
*
*
*
*
Rule 21.17. Additional Price Protection
Mechanisms and Risk Controls
The System’s acceptance and execution of
orders, quotes, and bulk messages, as
applicable, are subject to the price protection
mechanisms and risk controls in Rule 21.16,
this Rule 21.17 and as otherwise set forth in
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(6).
2 17
E:\FR\FM\24JAN1.SGM
24JAN1
]]>Agencies
[Federal Register Volume 89, Number 16 (Wednesday, January 24, 2024)]
[Notices]
[Page 4645]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-01349]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 3235-0346, File No. 270-305]
Proposed Collection; Comment Request; Extension: Rule 34b-1
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 for extension and approval.
Rule 34b-1 under the Investment Company Act (17 CFR 270.34b-1)
governs sales material that accompanies or follows the delivery of a
statutory prospectus (``sales literature''). Rule 34b-1 deems to be
materially misleading any investment company (``fund'') sales
literature required to be filed with the Securities and Exchange
Commission (``Commission'') by Section 24(b) of the Investment Company
Act (15 U.S.C. 80a-24(b)) that includes performance data, unless the
sales literature also includes the appropriate uniformly computed data
and the legend disclosure required in investment company advertisements
by rule 482 under the Securities Act of 1933 (17 CFR 230.482) (``rule
482''). Additionally, rule 34b-1 deems to be materially misleading any
fund sales literature intended for distribution to prospective
investors that includes fee and expense information, unless that sales
literature complies with the disclosure and timeliness requirements of
rule 482.\1\ These requirements are designed to prevent misleading
performance claims by funds and to enable investors to make meaningful
comparisons among funds.
---------------------------------------------------------------------------
\1\ These provisions of rule 34b-1 apply to any registered
investment company or business development company advertisement,
pamphlet, circular, form letter, or other sales literature addressed
to or intended for distribution to prospective investors in
connection with a public offering. See rule 34b-1(c).
---------------------------------------------------------------------------
The Commission estimates that on average approximately 8,289 \2\
responses that include the information required by rule 34b-1 each
year. The burden resulting from the collection of information
requirements of rule 34b-1 is estimated to be 11 hours per response.\3\
The total hourly burden for rule 34b-1 is approximately 91,179 hours
per year in the aggregate.\4\
---------------------------------------------------------------------------
\2\ The estimated average number of responses to rule 34b-1 for
the two-year period from October 1, 2021, to November 30, 2023,
comprises 7,912 filings submitted to FINRA and 377 filings submitted
to the Commission.
\3\ Previous PRA extensions for rule 34b-1 assumed an estimated
annual burden of 6 hours per response in complying with paragraphs a
and b of rule 34b-1, 3 hours per response in complying with the fee
and expense figure disclosure requirements of paragraph c, and 2
hours for the fee waivers/expense reimbursement arrangements
disclosure requirements of paragraph c, while estimating that only
96% of relevant responses would need to comply with all of the
paragraph c requirements. For purposes of this extension, we are
assuming that 100% of the responsive filings identified will incur
burdens for all of the rule's requirements, such that a total of 11
hours per response per year (6 + 3 + 2 = 11). We recognize that this
might overstate the total burden.
\4\ 8,289 responses x 11 hours per response = 91,179 hours.
---------------------------------------------------------------------------
The collection of information under rule 34b-1 is mandatory. The
information provided under rule 34b-1 is not kept confidential. The
Commission 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.
Written comments are invited on: (a) whether the proposed
collection of information is necessary for the proper performance of
the functions of the Commission, including whether the information
shall have practical utility; (b) the accuracy of the Commission's
estimate of the burden of the collection of information; (c) ways to
enhance the quality, utility, and clarity of the information collected;
and (d) ways to minimize the burden of the collection of information on
respondents, including through the use of automated collection
techniques or other forms of information technology. Consideration will
be given to comments and suggestions submitted by March 25, 2024.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information under the PRA unless it
displays a currently valid OMB control number.
Please direct your written comments to: David Bottom, Chief
Information Officer, Securities and Exchange Commission, c/o John
Pezzullo, 100 F Street NE, Washington, DC 20549 or send an email to:
[email protected].
Dated: January 19, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-01349 Filed 1-23-24; 8:45 am]
BILLING CODE 8011-01-P
