Submission for OMB Review; Comment Request; Extension: Rules 8b-1 to 8b-5; 8b-10 to 8b-22; and 8b-25 to 8b-31, 12385 [2024-03271]

Download as PDF Federal Register / Vol. 89, No. 33 / Friday, February 16, 2024 / Notices SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–135, OMB Control No. 3235–0176] Submission for OMB Review; Comment Request; Extension: Rules 8b–1 to 8b–5; 8b–10 to 8b–22; and 8b– 25 to 8b–31 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 (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. Rules 8b–1 to 8b–5; 8b–10 to 8b–22; and 8b–25 to 8b–31 (‘‘rules under Section 8(b)’’) (17 CFR 270.8b–1 to 8b– 31) under the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) (‘‘Investment Company Act’’) set forth the procedures for preparing and filing a registration statement under the Investment Company Act. These procedures are intended to facilitate the registration process. These rules generally do not require respondents to report information.1 The Commission believes that it is appropriate to estimate the total respondent burden associated with preparing each registration statement form rather than attempt to isolate the impact of the procedural instructions under Section 8(b) of the Investment Company Act, which impose burdens only in the context of the preparation of the various registration statement forms. Accordingly, the Commission is not submitting a separate burden estimate for the rules under Section 8(b), but instead will include the burden for these rules in its estimates of burden for each of the registration forms under the Investment Company Act. The lotter on DSK11XQN23PROD with NOTICES1 1 Although the rules under Section 8(b) of the Investment Company Act are generally procedural in nature, two of the rules require respondents to disclose some limited information. Rule 8b–3 (17 CFR 270.8b–3) provides that whenever a registration form requires the title of securities to be stated, the registrant must indicate the type and general character of the securities to be issued. Rule 8b–22 (17 CFR 270.8b–22) provides that if the existence of control is open to reasonable doubt, the registrant may disclaim the existence of control, but it must state the material facts pertinent to the possible existence of control. The information required by both of these rules is necessary to ensure that investors have clear and complete information upon which to base an investment decision. VerDate Sep<11>2014 17:24 Feb 15, 2024 Jkt 262001 Commission is, however, submitting an hourly burden estimate of one hour for administrative purposes. The collection of information under the rules under Section 8(b) is mandatory. The information provided under the rules under Section 8(b) 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 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 March 18, 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: February 13, 2024. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–03271 Filed 2–15–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–86, OMB Control No. 3235–0080] Proposed Collection; Comment Request; Extension: Rule 12d2–2 and Form 25 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 (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (‘‘Commission’’) is soliciting comments on the collections of information provided for in Rule 12d2–2 (17 CFR 240.12d2–2) and Form 25 (17 CFR 249.25) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). The Commission plans to submit these existing collections of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. PO 00000 Frm 00084 Fmt 4703 Sfmt 4703 12385 On February 12, 1935, the Commission adopted Rule 12d2–2 1 and Form 25, under the Securities Exchange Act of 1934 (‘‘Act’’), to establish the conditions and procedures under which a security may be delisted from an exchange and withdrawn from registration under Section 12(b) of the Act.2 The Commission adopted amendments to Rule 12d2–2 and Form 25 in 2005.3 Under the amended Rule 12d2–2, all issuers and national securities exchanges seeking to delist and deregister a security in accordance with the rules of an exchange must file the adopted version of Form 25 with the Commission. The Commission also adopted amendments to Rule 19d–1 under the Act to require exchanges to file the adopted version of Form 25 as notice to the Commission under section 19(d) of the Act. Finally, the Commission adopted amendments to exempt standardized options and security futures products from section 12(d) of the Act. These amendments were intended to simplify the paperwork and procedure associated with a delisting and to unify general rules and procedures relating to the delisting process. Form 25 is useful because it informs the Commission and members of the public that a security previously traded on an exchange is no longer traded. In addition, Form 25 enables the Commission to verify that the delisting and/or deregistration has occurred in accordance with the rules of the exchange. Further, Form 25 helps to focus the attention of delisting issuers to make sure that they abide by the proper procedural and notice requirements associated with a delisting and/or a deregistration. Without Rule 12d2–2 and Form 25, as applicable, the Commission would be unable to fulfill its statutory responsibilities. There are 24 national securities exchanges that could possibly be respondents complying with the requirements of Rule 12d2–2 and Form 25.4 The burden of complying with Rule 1 See Securities Exchange Act Release No. 98 (Feb. 12, 1935). 2 See Securities Exchange Act Release No. 7011 (Feb. 5, 1963), 28 FR 1506 (Feb. 16, 1963). 3 See Securities Exchange Act Release No. 52029 (Jul. 14, 2005), 70 FR 42456 (Jul. 22, 2005). 4 The staff notes that a few of these 24 registered national securities exchanges only have rules to permit the listing of standardized options, which are exempt from Rule 12d2–2 under the Act. Nevertheless, the staff counted national securities exchanges that can only list options as potential respondents because these exchanges could potentially adopt new rules, subject to Commission approval under Section 19(b) of the Act, to list and trade equity and other securities that have to comply with Rule 12d2–2 under the Act. Notice E:\FR\FM\16FEN1.SGM Continued 16FEN1

Agencies

[Federal Register Volume 89, Number 33 (Friday, February 16, 2024)]
[Notices]
[Page 12385]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-03271]



[[Page 12385]]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-135, OMB Control No. 3235-0176]


Submission for OMB Review; Comment Request; Extension: Rules 8b-1 
to 8b-5; 8b-10 to 8b-22; and 8b-25 to 8b-31

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 (``OMB'') a request for extension of the 
previously approved collection of information discussed below.
    Rules 8b-1 to 8b-5; 8b-10 to 8b-22; and 8b-25 to 8b-31 (``rules 
under Section 8(b)'') (17 CFR 270.8b-1 to 8b-31) under the Investment 
Company Act of 1940 (15 U.S.C. 80a-1 et seq.) (``Investment Company 
Act'') set forth the procedures for preparing and filing a registration 
statement under the Investment Company Act. These procedures are 
intended to facilitate the registration process. These rules generally 
do not require respondents to report information.\1\
---------------------------------------------------------------------------

    \1\ Although the rules under Section 8(b) of the Investment 
Company Act are generally procedural in nature, two of the rules 
require respondents to disclose some limited information. Rule 8b-3 
(17 CFR 270.8b-3) provides that whenever a registration form 
requires the title of securities to be stated, the registrant must 
indicate the type and general character of the securities to be 
issued. Rule 8b-22 (17 CFR 270.8b-22) provides that if the existence 
of control is open to reasonable doubt, the registrant may disclaim 
the existence of control, but it must state the material facts 
pertinent to the possible existence of control. The information 
required by both of these rules is necessary to ensure that 
investors have clear and complete information upon which to base an 
investment decision.
---------------------------------------------------------------------------

    The Commission believes that it is appropriate to estimate the 
total respondent burden associated with preparing each registration 
statement form rather than attempt to isolate the impact of the 
procedural instructions under Section 8(b) of the Investment Company 
Act, which impose burdens only in the context of the preparation of the 
various registration statement forms. Accordingly, the Commission is 
not submitting a separate burden estimate for the rules under Section 
8(b), but instead will include the burden for these rules in its 
estimates of burden for each of the registration forms under the 
Investment Company Act. The Commission is, however, submitting an 
hourly burden estimate of one hour for administrative purposes.
    The collection of information under the rules under Section 8(b) is 
mandatory. The information provided under the rules under Section 8(b) 
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 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 March 18, 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: February 13, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-03271 Filed 2-15-24; 8:45 am]
BILLING CODE 8011-01-P
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