Submission for OMB Review; Comment Request; Extension: Rule 498, 5047 [2024-01436]

Download as PDF Federal Register / Vol. 89, No. 17 / Thursday, January 25, 2024 / Notices For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.72 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–01395 Filed 1–24–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–574, OMB Control No. 3235–0648] khammond on DSKJM1Z7X2PROD with NOTICES Submission for OMB Review; Comment Request; Extension: Rule 498 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.) (‘‘Paperwork Reduction Act’’), the Securities 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. Rule 498 (17 CFR 230.498) under the Securities Act of 1933 (15 U.S.C. 77a et seq.) (‘‘Securities Act’’) permits openend management investment companies (‘‘funds’’) to satisfy their prospectus delivery obligations under the Securities Act by sending or giving key information directly to investors in the form of a summary prospectus (‘‘Summary Prospectus’’) and providing the statutory prospectus on a website. Upon an investor’s request, funds are also required to send the statutory prospectus to the investor. In addition, under rule 498, a fund that relies on the rule to meet its statutory prospectus delivery obligations must make available, free of charge, the fund’s current Summary Prospectus, statutory prospectus, statement of additional information, and most recent annual and semi-annual reports to shareholders at the website address specified in the required Summary Prospectus legend (17 CFR 270.498(e)(1)). A Summary Prospectus that complies with rule 498 is deemed to be a prospectus that is authorized under Section 10(b) of the Securities Act and Section 24(g) of the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.). The purpose of rule 498 is to enable a fund to provide investors with a Summary Prospectus containing key 72 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 17:22 Jan 24, 2024 Jkt 262001 information necessary to evaluate an investment in the fund. Unlike many other federal information collections, which are primarily for the use and benefit of the collecting agency, this information collection is primarily for the use and benefit of investors. The information filed with the Commission also permits the verification of compliance with securities law requirements and assures the public availability and dissemination of the information. Based on an analysis of fund filings, the Commission estimates that approximately 11,241 funds are using a Summary Prospectus. The Commission estimates that the annual hourly burden per fund associated with the compilation of the information required on the cover page or the beginning of the Summary Prospectus is 0.5 hours, and estimates that the annual hourly burden per fund to comply with the website posting requirement is approximately 1 hour, requiring a total of 1.5 hours per fund per year.1 Thus the total annual hour burden associated with these requirements of the rule is approximately 16,862.2 The Commission estimates that the annual cost burden is approximately $21,400 per fund, for a total annual cost burden of approximately $240,557,400.3 Estimates of the average burden hours are made solely for the purposes of the Paperwork Reduction Act and are not derived from a comprehensive or even a representative survey or study of the costs of Commission rules and forms. Under rule 498, use of the Summary Prospectus is voluntary, but the rule’s requirements regarding provision of the statutory prospectus upon investor request are mandatory for funds that elect to send or give a Summary Prospectus in reliance upon rule 498. The information provided under rule 498 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 1 0.5 hours per fund + 1 hour per fund = 1.5 hours per fund. 2 1.5 hours per fund x 11,241 funds = 16,862 hours. 3 $21,400 per fund x 11,241 funds = $240,557,400. PO 00000 Frm 00157 Fmt 4703 Sfmt 4703 5047 information collection should be sent within 30 days of publication of this notice by February 26, 2024 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: January 22, 2024. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–01436 Filed 1–24–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–99396; File No. SR–ISE– 2024–03] Self-Regulatory Organizations; Nasdaq ISE LLC; Notice of Filing of Proposed Rule Change, as Modified by Amendment No. 1, To List and Trade Options on iShares Bitcoin Trust January 19, 2024. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on January 9, 2024, Nasdaq ISE, LLC (‘‘ISE’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I and II, below, which Items have been prepared by the Exchange. On January 11, 2024, the Exchange filed Amendment No. 1 to the proposal, which supersedes the original filing in its entirety. The Commission is publishing this notice to solicit comments on the proposed rule change, as modified by Amendment No. 1, from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Options 4, Section 3, Criteria for Underlying Securities. This Amendment No. 1 supersedes the original filing in its entirety. The text of the proposed rule change is available on the Exchange’s website at https://listingcenter.nasdaq.com/ rulebook/ise/rules, at the principal office of the Exchange, and at the Commission’s Public Reference Room. 1 15 2 17 E:\FR\FM\25JAN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 25JAN1

Agencies

[Federal Register Volume 89, Number 17 (Thursday, January 25, 2024)]
[Notices]
[Page 5047]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-01436]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-574, OMB Control No. 3235-0648]


Submission for OMB Review; Comment Request; Extension: Rule 498

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.) (``Paperwork Reduction Act''), the 
Securities 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.
    Rule 498 (17 CFR 230.498) under the Securities Act of 1933 (15 
U.S.C. 77a et seq.) (``Securities Act'') permits open-end management 
investment companies (``funds'') to satisfy their prospectus delivery 
obligations under the Securities Act by sending or giving key 
information directly to investors in the form of a summary prospectus 
(``Summary Prospectus'') and providing the statutory prospectus on a 
website. Upon an investor's request, funds are also required to send 
the statutory prospectus to the investor. In addition, under rule 498, 
a fund that relies on the rule to meet its statutory prospectus 
delivery obligations must make available, free of charge, the fund's 
current Summary Prospectus, statutory prospectus, statement of 
additional information, and most recent annual and semi-annual reports 
to shareholders at the website address specified in the required 
Summary Prospectus legend (17 CFR 270.498(e)(1)). A Summary Prospectus 
that complies with rule 498 is deemed to be a prospectus that is 
authorized under Section 10(b) of the Securities Act and Section 24(g) 
of the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.).
    The purpose of rule 498 is to enable a fund to provide investors 
with a Summary Prospectus containing key information necessary to 
evaluate an investment in the fund. Unlike many other federal 
information collections, which are primarily for the use and benefit of 
the collecting agency, this information collection is primarily for the 
use and benefit of investors. The information filed with the Commission 
also permits the verification of compliance with securities law 
requirements and assures the public availability and dissemination of 
the information.
    Based on an analysis of fund filings, the Commission estimates that 
approximately 11,241 funds are using a Summary Prospectus. The 
Commission estimates that the annual hourly burden per fund associated 
with the compilation of the information required on the cover page or 
the beginning of the Summary Prospectus is 0.5 hours, and estimates 
that the annual hourly burden per fund to comply with the website 
posting requirement is approximately 1 hour, requiring a total of 1.5 
hours per fund per year.\1\ Thus the total annual hour burden 
associated with these requirements of the rule is approximately 
16,862.\2\ The Commission estimates that the annual cost burden is 
approximately $21,400 per fund, for a total annual cost burden of 
approximately $240,557,400.\3\
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    \1\ 0.5 hours per fund + 1 hour per fund = 1.5 hours per fund.
    \2\ 1.5 hours per fund x 11,241 funds = 16,862 hours.
    \3\ $21,400 per fund x 11,241 funds = $240,557,400.
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    Estimates of the average burden hours are made solely for the 
purposes of the Paperwork Reduction Act and are not derived from a 
comprehensive or even a representative survey or study of the costs of 
Commission rules and forms. Under rule 498, use of the Summary 
Prospectus is voluntary, but the rule's requirements regarding 
provision of the statutory prospectus upon investor request are 
mandatory for funds that elect to send or give a Summary Prospectus in 
reliance upon rule 498. The information provided under rule 498 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 February 26, 2024 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: January 22, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-01436 Filed 1-24-24; 8:45 am]
BILLING CODE 8011-01-P
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