Submission for OMB Review; Comment Request; Extension: Rule 11a-3, 25681-25683 [2024-07664]
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Federal Register / Vol. 89, No. 71 / Thursday, April 11, 2024 / Notices
all market participants through
increased liquidity and order
interaction. Furthermore, the proposed
growth incentive will be temporary and
sunset on September 30, 2024 to ensure
that the incentive is timely and meets
the intended purpose of encouraging
increased Customer order flow and
liquidity removing activity.
khammond on DSKJM1Z7X2PROD with NOTICES
Technical Amendments
The Exchange believes that the nonsubstantive, technical edits in Options 7
are consistent with the Act because they
will promote clarity so that market
participants can more easily locate the
relevant rules in the Pricing Schedule,
and they are also intended to correct
formatting errors in the Pricing
Schedule.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition not
necessary or appropriate in furtherance
of the purposes of the Act.
In terms of intra-market competition,
the Exchange does not believe that its
proposal will place any category of
market participant at a competitive
disadvantage. As it relates to the
proposed note 2 incentives offered to
LMMs and MMs, the Exchange believes
that the additional Maker Rebates
should encourage the provision of
liquidity from both existing and new
LMMs and MMs that enhances the
quality of the Exchange’s market and
increases the number of trading
opportunities on the Exchange for all
market participants who will be able to
compete for such opportunities.
Similarly, for the proposed note 4
incentive offered to Customers, the
Exchange likewise believes that the
Taker Fee discount should encourage
additional Customer order flow from
both existing and new Members, which
would enhance BX’s market quality and
increase trading opportunities to the
benefit of all market participants.
In terms of inter-market competition,
the Exchange notes that it operates in a
highly competitive market in which
market participants can readily favor
competing venues if they deem fee
levels at a particular venue to be
excessive, or rebate opportunities
available at other venues to be more
favorable. In such an environment, the
Exchange must continually adjust its
fees to remain competitive with other
options exchanges. Because competitors
are free to modify their own fees in
response, and because market
participants may readily adjust their
order routing practices, the Exchange
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believes that the degree to which fee
changes in this market may impose any
burden on competition is extremely
limited. In sum, if the changes proposed
herein are unattractive to market
participants, it is likely that the
Exchange will lose market share as a
result. Accordingly, the Exchange does
not believe that the proposed changes
will impair the ability of members or
competing order execution venues to
maintain their competitive standing in
the financial markets.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were either
solicited or received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Act.24
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is: (i) necessary or appropriate in
the public interest; (ii) for the protection
of investors; or (iii) otherwise in
furtherance of the purposes of the Act.
If the Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include file number SR–
BX–2024–012 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE,
Washington, DC 20549–1090.
All submissions should refer to file
number SR–BX–2024–012. This file
number should be included on the
subject line if email is used. To help the
24 15
PO 00000
U.S.C. 78s(b)(3)(A)(ii).
Frm 00124
Fmt 4703
Sfmt 4703
25681
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
internet website (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for website viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE,
Washington, DC 20549, on official
business days between the hours of 10
a.m. and 3 p.m. Copies of the filing also
will be available for inspection and
copying at the principal office of the
Exchange. Do not include personal
identifiable information in submissions;
you should submit only information
that you wish to make available
publicly. We may redact in part or
withhold entirely from publication
submitted material that is obscene or
subject to copyright protection. All
submissions should refer to file number
SR–BX–2024–012 and should be
submitted on or before May 2, 2024.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.25
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–07641 Filed 4–10–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–321, OMB Control No.
3235–0358]
Submission for OMB Review;
Comment Request; Extension: Rule
11a–3
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. 3501–3520), the Securities
and Exchange Commission (the
‘‘Commission’’) has submitted to the
Office of Management and Budget a
request for extension of the previously
25 17
E:\FR\FM\11APN1.SGM
CFR 200.30–3(a)(12).
11APN1
25682
Federal Register / Vol. 89, No. 71 / Thursday, April 11, 2024 / Notices
approved collection of information
discussed below.
Section 11(a) of the Investment
Company Act of 1940 (‘‘Act’’) (15 U.S.C.
80a-11(a)) provides that it is unlawful
for a registered open-end investment
company (‘‘fund’’) or its underwriter to
make an offer to the fund’s shareholders
or the shareholders of any other fund to
exchange the fund’s securities for
securities of the same or another fund
on any basis other than the relative net
asset values (‘‘NAVs’’) of the respective
securities to be exchanged, ‘‘unless the
terms of the offer have first been
submitted to and approved by the
Commission or are in accordance with
such rules and regulations as the
Commission may have prescribed in
respect of such offers.’’ Section 11(a)
was designed to prevent ‘‘switching,’’
the practice of inducing shareholders of
one fund to exchange their shares for
the shares of another fund for the
purpose of exacting additional sales
charges.
Rule 11a–3 (17 CFR 270.11a–3) under
the Act of 1940 is an exemptive rule that
permits open-end investment
companies (‘‘funds’’), other than
insurance company separate accounts,
and funds’ principal underwriters, to
make certain exchange offers to fund
shareholders and shareholders of other
funds in the same group of investment
companies. The rule requires a fund,
among other things, (i) to disclose in its
prospectus and advertising literature the
amount of any administrative or
redemption fee imposed on an exchange
transaction, (ii) if the fund imposes an
administrative fee on exchange
transactions, other than a nominal one,
to maintain and preserve records with
respect to the actual costs incurred in
connection with exchanges for at least
six years, and (iii) give the fund’s
shareholders a sixty day notice of a
termination of an exchange offer or any
material amendment to the terms of an
exchange offer (unless the only material
effect of an amendment is to reduce or
eliminate an administrative fee, sales
load or redemption fee payable at the
time of an exchange).
The rule’s requirements are designed
to protect investors against abuses
associated with exchange offers, provide
fund shareholders with information
necessary to evaluate exchange offers
and certain material changes in the
terms of exchange offers, and enable the
Commission staff to monitor funds’ use
of administrative fees charged in
connection with exchange transactions.
The staff estimates that there are
approximately 1,379 active open-end
investment companies registered with
the Commission as of December 2022
(using filings made through July 2023).
The staff estimates that 25 percent of
these funds (345 funds) impose a nonnominal administrative fee on exchange
transactions. The staff estimates that the
recordkeeping requirement of the rule
requires approximately 1 hour annually
of clerical time (at an estimated $73 per
hour) 1 per fund, for a total of 345 hours
for all funds (at a total annual cost of
$25,185).2
The staff estimates that 5 percent of
these 1,379 funds (or 69 funds)
terminate an exchange offer or make a
material change to the terms of their
exchange offer each year, requiring the
fund to comply with the notice
requirement of the rule. The staff
estimates that complying with the
notice requirement of the rule requires
approximately 1 hour of attorney time
(at an estimated $484 per hour) and 2
hours of clerical time (at an estimated
$73 per hour) per fund, for a total of
approximately 207 hours for all funds to
comply with the notice requirement (at
a total annual cost of $43,470).3 The
staff estimates that such notices will be
enclosed with other written materials
sent to shareholders, such as annual
shareholder reports or account
statements, and therefore any burdens
associated with mailing required notices
are accounted for in the burdens
associated with Form N–1A registration
statements for funds.
The recordkeeping and notice
requirements together impose an
estimated total burden of 552 hours on
all funds (at a total annual cost of
$68,655).4 The total number of
respondents is 414, each responding
once a year.5 The burdens associated
with the disclosure requirement of the
rule are accounted for in the burdens
associated with the Form N–1A
registration statement for funds.
Table 1 below summarizes the
currently approved and updated
burdens associated with rule 11a–3.
TABLE 1—SUMMARY OF BURDEN ESTIMATES FOR RULE 11a–3
Internal burden
Wage rate
Cost of
internal burden
khammond on DSKJM1Z7X2PROD with NOTICES
CURRENTLY-APPROVED BURDEN ESTIMATES
Recordkeeping Requirement ......................................................
Respondents ...............................................................................
1 hour ............................
349 funds. ......................
$63/hr. (clerk) ................
........................................
$63.
349 funds.
Total .....................................................................................
Notice Requirement ....................................................................
Respondents ...............................................................................
349 hours .......................
1 hour ............................
2 hours ...........................
70 funds .........................
........................................
$419/hr. (attorney) .........
$63/hr. (clerk) ................
........................................
$21,987.
$419.
$126.
70 funds.
Total .....................................................................................
Total Responses (Recordkeeping + Notice) ................
Total Burden (Recordkeeping + Notice) ......................
210 hours .......................
419.
559 hours .......................
........................................
$38,150.
........................................
$60,137.
1 This estimate of $73 per hour for clerical work
and the other estimated wage rates below are based
on salary information for the securities industry
compiled by the Securities Industry and Financial
Markets Association’s Office Salaries in the
Securities Industry 2013; the estimated wage figures
are modified by Commission staff to account for an
1,800-hour work-year and adjusted to account for
bonuses, firm size, employee benefits, overhead,
and adjusted to account for the effects of inflation.
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17:50 Apr 10, 2024
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2 This estimate is based on the following
calculations: (1,379 funds × 25% = 345 funds); (345
× 1 (clerical hour) = 345 clerical hours); (345 × $73
= $25,185 total annual cost for recordkeeping
requirement).
3 This estimate is based on the following
calculations: 1,379 funds × 5% = 69 funds; 69 × ((1
attorney hour × $484 per hour) + (2 clerical hours
× $73 per hour)) = $43,470 total annual cost.
PO 00000
Frm 00125
Fmt 4703
Sfmt 4703
4 This estimate is based on the following
calculations: (207 (notice hours) + 345
(recordkeeping hours) = 552 total hours); ($43,470
(notice costs) + $25,185 (recordkeeping costs) =
$68,655 total annual costs).
5 This estimate is based on the following
calculation: (345 funds responding to recordkeeping
requirement + 69 funds responding to notice
requirement = 414 total respondents).
E:\FR\FM\11APN1.SGM
11APN1
25683
Federal Register / Vol. 89, No. 71 / Thursday, April 11, 2024 / Notices
TABLE 1—SUMMARY OF BURDEN ESTIMATES FOR RULE 11a–3—Continued
Internal burden
Wage rate
Cost of
internal burden
UPDATED BURDEN ESTIMATES
Recordkeeping Requirement ......................................................
Respondents ...............................................................................
1 hour ............................
345 funds .......................
$73/hr. (clerk) ................
........................................
$73.
345 funds.
Total .....................................................................................
Notice Requirement ....................................................................
Respondents ...............................................................................
345 funds .......................
1 hour ............................
2 hours ...........................
69 funds .........................
........................................
$484/hr. (attorney) .........
$73/hr. (clerk) ................
........................................
$25,185.
$484.
$146.
69 funds.
Total .....................................................................................
Total Responses (Recordkeeping + Notice) ................
Total Burden (Recordkeeping + Notice) ......................
207 hours .......................
414.
552 hours .......................
........................................
$43,470.
........................................
$68,655.
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.
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 May 13, 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: April 8, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–07664 Filed 4–10–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–34–99910; File No. SR–
CboeEDGX–2023–083]
Self-Regulatory Organizations; Cboe
EDGX Exchange, Inc.; Notice of
Withdrawal of a Proposed Rule Change
To Make Permanent Pilot Programs in
Connection With the Listing and
Trading of P.M.-Settled Series on
Certain Broad-Based Index Options
April 5, 2024.
On December 26, 2023, Cboe EDGX
Exchange, Inc. (‘‘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 make permanent the
operation of its programs that allow the
Exchange to list options on the MiniSPX Index with P.M.-settlement and to
list broad-based index options with
nonstandard expirations. The proposed
rule change was published for comment
in the Federal Register on January 16,
2024.3 On February 28, 2024, pursuant
to Section 19(b)(2) of the Act,4 the
Commission designated a longer period
within which to approve the proposed
rule change, disapprove the proposed
rule change, or institute proceedings to
determine whether to disapprove the
proposed rule change.5 On April 1,
2024, the Exchange withdrew the
khammond on DSKJM1Z7X2PROD with NOTICES
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 99300
(January 9, 2024), 89 FR 2695.
4 15 U.S.C. 78s(b)(2).
5 See Securities Exchange Act Release No. 99621,
89 FR 15906 (March 5, 2024). The Commission
designated April 15, 2024, as the date by which the
Commission shall approve or disapprove, or
institute proceedings to determine whether to
approve or disapprove, the proposed rule change.
2 17
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17:50 Apr 10, 2024
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Fmt 4703
Sfmt 4703
proposed rule change (CboeEDGX–
2023–083).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–07639 Filed 4–10–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–99909; File No. SR–
CboeBZX–2023–107]
Self-Regulatory Organizations; Cboe
BZX Exchange, Inc.; Notice of
Withdrawal of a Proposed Rule Change
To Make Permanent Pilot Programs in
Connection With the Listing and
Trading of P.M.-Settled Series on
Certain Broad-Based Index Options
April 5, 2024.
On December 26, 2023, Cboe BZX
Exchange, Inc. (‘‘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 make permanent the
operation of its programs that allow the
Exchange to list options on the MiniSPX Index with P.M.-settlement and to
list broad-based index options with
nonstandard expirations. The proposed
rule change was published for comment
in the Federal Register on January 16,
2024.3 On February 28, 2024, pursuant
to Section 19(b)(2) of the Act,4 the
Commission designated a longer period
6 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 99299
(January 9, 2024), 89 FR 2688.
4 15 U.S.C. 78s(b)(2).
1 15
E:\FR\FM\11APN1.SGM
11APN1
]]>Agencies
[Federal Register Volume 89, Number 71 (Thursday, April 11, 2024)]
[Notices]
[Pages 25681-25683]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-07664]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-321, OMB Control No. 3235-0358]
Submission for OMB Review; Comment Request; Extension: Rule 11a-3
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. 3501-3520), the Securities and Exchange Commission
(the ``Commission'') has submitted to the Office of Management and
Budget a request for extension of the previously
[[Page 25682]]
approved collection of information discussed below.
Section 11(a) of the Investment Company Act of 1940 (``Act'') (15
U.S.C. 80a-11(a)) provides that it is unlawful for a registered open-
end investment company (``fund'') or its underwriter to make an offer
to the fund's shareholders or the shareholders of any other fund to
exchange the fund's securities for securities of the same or another
fund on any basis other than the relative net asset values (``NAVs'')
of the respective securities to be exchanged, ``unless the terms of the
offer have first been submitted to and approved by the Commission or
are in accordance with such rules and regulations as the Commission may
have prescribed in respect of such offers.'' Section 11(a) was designed
to prevent ``switching,'' the practice of inducing shareholders of one
fund to exchange their shares for the shares of another fund for the
purpose of exacting additional sales charges.
Rule 11a-3 (17 CFR 270.11a-3) under the Act of 1940 is an exemptive
rule that permits open-end investment companies (``funds''), other than
insurance company separate accounts, and funds' principal underwriters,
to make certain exchange offers to fund shareholders and shareholders
of other funds in the same group of investment companies. The rule
requires a fund, among other things, (i) to disclose in its prospectus
and advertising literature the amount of any administrative or
redemption fee imposed on an exchange transaction, (ii) if the fund
imposes an administrative fee on exchange transactions, other than a
nominal one, to maintain and preserve records with respect to the
actual costs incurred in connection with exchanges for at least six
years, and (iii) give the fund's shareholders a sixty day notice of a
termination of an exchange offer or any material amendment to the terms
of an exchange offer (unless the only material effect of an amendment
is to reduce or eliminate an administrative fee, sales load or
redemption fee payable at the time of an exchange).
The rule's requirements are designed to protect investors against
abuses associated with exchange offers, provide fund shareholders with
information necessary to evaluate exchange offers and certain material
changes in the terms of exchange offers, and enable the Commission
staff to monitor funds' use of administrative fees charged in
connection with exchange transactions.
The staff estimates that there are approximately 1,379 active open-
end investment companies registered with the Commission as of December
2022 (using filings made through July 2023). The staff estimates that
25 percent of these funds (345 funds) impose a non-nominal
administrative fee on exchange transactions. The staff estimates that
the recordkeeping requirement of the rule requires approximately 1 hour
annually of clerical time (at an estimated $73 per hour) \1\ per fund,
for a total of 345 hours for all funds (at a total annual cost of
$25,185).\2\
---------------------------------------------------------------------------
\1\ This estimate of $73 per hour for clerical work and the
other estimated wage rates below are based on salary information for
the securities industry compiled by the Securities Industry and
Financial Markets Association's Office Salaries in the Securities
Industry 2013; the estimated wage figures are modified by Commission
staff to account for an 1,800-hour work-year and adjusted to account
for bonuses, firm size, employee benefits, overhead, and adjusted to
account for the effects of inflation.
\2\ This estimate is based on the following calculations: (1,379
funds x 25% = 345 funds); (345 x 1 (clerical hour) = 345 clerical
hours); (345 x $73 = $25,185 total annual cost for recordkeeping
requirement).
---------------------------------------------------------------------------
The staff estimates that 5 percent of these 1,379 funds (or 69
funds) terminate an exchange offer or make a material change to the
terms of their exchange offer each year, requiring the fund to comply
with the notice requirement of the rule. The staff estimates that
complying with the notice requirement of the rule requires
approximately 1 hour of attorney time (at an estimated $484 per hour)
and 2 hours of clerical time (at an estimated $73 per hour) per fund,
for a total of approximately 207 hours for all funds to comply with the
notice requirement (at a total annual cost of $43,470).\3\ The staff
estimates that such notices will be enclosed with other written
materials sent to shareholders, such as annual shareholder reports or
account statements, and therefore any burdens associated with mailing
required notices are accounted for in the burdens associated with Form
N-1A registration statements for funds.
---------------------------------------------------------------------------
\3\ This estimate is based on the following calculations: 1,379
funds x 5% = 69 funds; 69 x ((1 attorney hour x $484 per hour) + (2
clerical hours x $73 per hour)) = $43,470 total annual cost.
---------------------------------------------------------------------------
The recordkeeping and notice requirements together impose an
estimated total burden of 552 hours on all funds (at a total annual
cost of $68,655).\4\ The total number of respondents is 414, each
responding once a year.\5\ The burdens associated with the disclosure
requirement of the rule are accounted for in the burdens associated
with the Form N-1A registration statement for funds.
---------------------------------------------------------------------------
\4\ This estimate is based on the following calculations: (207
(notice hours) + 345 (recordkeeping hours) = 552 total hours);
($43,470 (notice costs) + $25,185 (recordkeeping costs) = $68,655
total annual costs).
\5\ This estimate is based on the following calculation: (345
funds responding to recordkeeping requirement + 69 funds responding
to notice requirement = 414 total respondents).
---------------------------------------------------------------------------
Table 1 below summarizes the currently approved and updated burdens
associated with rule 11a-3.
Table 1--Summary of Burden Estimates for Rule 11a-3
----------------------------------------------------------------------------------------------------------------
Internal burden Wage rate Cost of internal burden
----------------------------------------------------------------------------------------------------------------
CURRENTLY-APPROVED BURDEN ESTIMATES
----------------------------------------------------------------------------------------------------------------
Recordkeeping Requirement............ 1 hour................. $63/hr. (clerk)........ $63.
Respondents.......................... 349 funds.............. ....................... 349 funds.
--------------------------------------------------------------------------
Total............................ 349 hours.............. ....................... $21,987.
Notice Requirement................... 1 hour................. $419/hr. (attorney).... $419.
2 hours................ $63/hr. (clerk)........ $126.
Respondents.......................... 70 funds............... ....................... 70 funds.
--------------------------------------------------------------------------
Total............................ 210 hours.............. ....................... $38,150.
Total Responses 419....................
(Recordkeeping + Notice).
Total Burden (Recordkeeping + 559 hours.............. ....................... $60,137.
Notice).
----------------------------------------------------------------------------------------------------------------
[[Page 25683]]
UPDATED BURDEN ESTIMATES
----------------------------------------------------------------------------------------------------------------
Recordkeeping Requirement............ 1 hour................. $73/hr. (clerk)........ $73.
Respondents.......................... 345 funds.............. ....................... 345 funds.
--------------------------------------------------------------------------
Total............................ 345 funds.............. ....................... $25,185.
Notice Requirement................... 1 hour................. $484/hr. (attorney).... $484.
2 hours................ $73/hr. (clerk)........ $146.
Respondents.......................... 69 funds............... ....................... 69 funds.
--------------------------------------------------------------------------
Total............................ 207 hours.............. ....................... $43,470.
Total Responses 414....................
(Recordkeeping + Notice).
Total Burden (Recordkeeping + 552 hours.............. ....................... $68,655.
Notice).
----------------------------------------------------------------------------------------------------------------
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. 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 May 13, 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: April 8, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-07664 Filed 4-10-24; 8:45 am]
BILLING CODE 8011-01-P
