Submission for OMB Review; Comment Request; Extension: Form ADV-E, 101082 [2024-29304]

Download as PDF 101082 Federal Register / Vol. 89, No. 240 / Friday, December 13, 2024 / Notices Entities likely would incur a total burden of 10,660 burden hours per year to comply with Rules 15Fb1–1 through 15Fb6–2 and Forms SBSE, SBSE–A, SBSE–BD, SBSE–C and SBSE–W. In addition, Rules 15Fb1–1 through 15Fb6–2 and Forms SBSE, SBSE–A, SBSE–BD, SBSE–C and SBSE–W may impose certain costs on non-resident persons that apply to be registered with the Commission as SBS Entities, including an initial and ongoing costs associated with obtaining an opinion of counsel indicating that it can, as a matter of law, provide the Commission with access to its books and records and submit to Commission examinations, and an ongoing cost associated with establishing and maintaining a relationship with a U.S. agent for service of process. The staff estimates, based on internet research,1 that it would cost each nonresident SBS Entity approximately $211 annually to appoint and maintain a relationship with a U.S. agent for service of process. Consequently, the total cost for all nonresident SBS Entities to appoint and maintain relationships with U.S. agents for service of process is approximately $5,697 per year. Nonresident SBS Entities also would incur outside legal costs associated with obtaining an opinion of counsel. The staff estimates that each of the estimated 27 non-resident persons that likely will apply to register as SBS Entities with the Commission would incur, on average, approximately $25,000 in outside legal costs to obtain the opinion of counsel necessary to register, and that the total annualized cost for Nonresident SBS Entities to obtain this opinion of counsel would be approximately $225,000. Nonresident SBS Entities would also need to obtain a revised opinion of counsel after any changes in the legal or regulatory framework that would impact the SBS Entity’s ability to provide, or manner in which it provides, the Commission with prompt access to its books and records or that impacts the Commission’s ability to inspect and examine the SBS Entity. We do not believe this would occur frequently, and therefore estimate that one non-resident entity may need to See, e.g., https://www.incorp.com/registeredagent-services/ (as of September 13, 2024, $129 per state per year), https://www.wolterskluwer.com/en/ solutions/ct-corporation/registered-agent-servicessolutions (as of September 13, 2024, $354 per year), and https://www.ailcorp.com/services/registeredagent (as of September 13, 2024, $149 per year). The staff sought websites that provided pricing information and a comprehensive description of their registered agent services. We calculated our estimate by averaging the costs provided on these three websites—($129 + $354 + $149) ÷ 3 = $211. khammond on DSK9W7S144PROD with NOTICES 1 VerDate Sep<11>2014 18:12 Dec 12, 2024 Jkt 265001 recertify annually. Thus, the total ongoing cost associated with obtaining a revised opinion of counsel regarding the new regulatory regime would be approximately $25,000 annually. Consequently, the total annualized cost burden associated with Rules 15Fb1–1 through 15Fb6–2 and Forms SBSE, SBSE–A, SBSE–BD, SBSE–C and SBSE– W would be approximately $255,697 per year. 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. Public Comment Instructions: The 30day public comment period for this information collection request opens on December 16, 2024 and closes at the end of the day on January 13, 2025. The public may view the full information request and submit comments at https:// www.reginfo.gov/public/do/ PRAViewICR?ref_nbr=202409-3235-024 or email comments to MBX.OMB.OIRA.SEC_desk_officer@ omb.eop.gov. Dated: December 9, 2024. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–29306 Filed 12–12–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–318, OMB Control No. 3235–0361] Submission for OMB Review; Comment Request; Extension: Form ADV–E 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. Form ADV–E (17 CFR 279.8) is the cover sheet for certificates of accounting filed pursuant to rule 206(4)–2(a)(4) under the Investment Advisers Act of 1940 (17 CFR 275.206(4)–(2)(a)(4)). The rule further requires that the public accountant file with the Commission a Form ADV–E and accompanying statement within four business days of the resignation, dismissal, removal from PO 00000 Frm 00134 Fmt 4703 Sfmt 4703 consideration for being reappointed, or other termination of its engagement. The Commission has estimated that compliance with the requirement to complete Form ADV–E imposes a total burden of approximately 0.05 hours (3 minutes) per respondent. Based on current information from advisers registered with the Commission, the Commission staff estimates that 1,946 filings will be submitted with respect to surprise examinations and 52 filings will be submitted with respect to termination of accountants. Based on these estimates, the total estimated annual burden would be 99.90 hours ((1,946 filings × .05 hours) + (52 filings × .05 hours)). The information provided on Form ADV–E is mandatory. Responses will not be kept confidential. An agency may not conduct or sponsor a collection of information unless it displays a currently valid OMB control number. No person shall be subject to any penalty for failing to comply with a collection of information subject to the PRA that does not display a valid OMB control number. Public Comment Instructions: The 30day public comment period for this information collection request opens on December 16, 2024 and closes at the end of the day on January 13, 2025. The public may view the full information request and submit comments at https:// www.reginfo.gov/public/do/ PRAViewICR?ref_nbr=202409-3235-022 or email comments to MBX.OMB.OIRA.SEC_desk_officer@ omb.eop.gov. Dated: December 9, 2024. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–29304 Filed 12–12–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–017, OMB Control No. 3235–0017] Proposed Collection; Comment Request; Extension: Rules 6a–1 and 6a–2, Form 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 (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (‘‘Commission’’) is soliciting comments on the existing collection of information E:\FR\FM\13DEN1.SGM 13DEN1

Agencies

[Federal Register Volume 89, Number 240 (Friday, December 13, 2024)]
[Notices]
[Page 101082]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-29304]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-318, OMB Control No. 3235-0361]


Submission for OMB Review; Comment Request; Extension: Form ADV-E

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.
    Form ADV-E (17 CFR 279.8) is the cover sheet for certificates of 
accounting filed pursuant to rule 206(4)-2(a)(4) under the Investment 
Advisers Act of 1940 (17 CFR 275.206(4)-(2)(a)(4)). The rule further 
requires that the public accountant file with the Commission a Form 
ADV-E and accompanying statement within four business days of the 
resignation, dismissal, removal from consideration for being 
reappointed, or other termination of its engagement.
    The Commission has estimated that compliance with the requirement 
to complete Form ADV-E imposes a total burden of approximately 0.05 
hours (3 minutes) per respondent. Based on current information from 
advisers registered with the Commission, the Commission staff estimates 
that 1,946 filings will be submitted with respect to surprise 
examinations and 52 filings will be submitted with respect to 
termination of accountants. Based on these estimates, the total 
estimated annual burden would be 99.90 hours ((1,946 filings x .05 
hours) + (52 filings x .05 hours)).
    The information provided on Form ADV-E is mandatory. Responses will 
not be kept confidential. An agency may not conduct or sponsor a 
collection of information unless it displays a currently valid OMB 
control number. No person shall be subject to any penalty for failing 
to comply with a collection of information subject to the PRA that does 
not display a valid OMB control number.
    Public Comment Instructions: The 30-day public comment period for 
this information collection request opens on December 16, 2024 and 
closes at the end of the day on January 13, 2025. The public may view 
the full information request and submit comments at https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202409-3235-022 or email 
comments to [email protected].

    Dated: December 9, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-29304 Filed 12-12-24; 8:45 am]
BILLING CODE 8011-01-P
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