Submission for OMB Review; Comment Request; Extension: Rule 20a-1, 101080-101081 [2024-29305]
Download as PDF
101080
Federal Register / Vol. 89, No. 240 / Friday, December 13, 2024 / Notices
19b–4(f)(2) 56 thereunder. 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
necessary or appropriate in the public
interest, for the protection of investors,
or 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:
khammond on DSK9W7S144PROD with NOTICES
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–
SAPPHIRE–2024–39 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–SAPPHIRE–2024–39. This
file number should be included on the
subject line if email is used. To help the
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–SAPPHIRE–2024–39 and should be
submitted on or before January 3, 2025.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.57
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–29333 Filed 12–12–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–566, OMB Control No.
3235–0627]
Proposed Collection; Comment
Request; Extension: Rule 17g–4
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
(‘‘Commission’’) is soliciting comments
on the existing collection of information
provided for in Rule 17g–4 (17 CFR
240.17g–4) under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.) (‘‘Exchange Act’’). The
Commission plans to submit this
existing collection of information to the
Office of Management and Budget for
extension and approval.
Rule 17g–4 contains collection of
information requirements.1 Specifically,
Rule 17g–4 requires each nationally
recognized statistical rating organization
(‘‘NRSRO’’) to establish, maintain, and
enforce written policies and procedures
that are reasonably designed to prevent
the following: (1) the inappropriate
dissemination of material nonpublic
information obtained in connection
with the performance of credit rating
services; (2) a person within the NRSRO
from trading or otherwise benefiting on
material nonpublic information; and (3)
the inappropriate dissemination of a
pending credit rating action.
Currently, there are 10 credit rating
agencies registered as NRSROs with the
Commission. Based on staff experience,
57 17
56 17
CFR 240.19b–4(f)(2).
VerDate Sep<11>2014
18:12 Dec 12, 2024
1 See
Jkt 265001
PO 00000
CFR 200.30–3(a)(12).
17 CFR 240.17g–4.
Frm 00132
Fmt 4703
Sfmt 4703
an NRSRO is estimated to spend an
average of approximately 10 hours per
year reviewing policies and procedures
required by Rule 17g–4, updating the
policies and procedures (if necessary),
and enforcing them, for a total industrywide annual hour burden of
approximately 100 hours.2
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
estimates of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information on respondents; 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
February 11, 2025.
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. Please direct your
written comments to: Austin Gerig,
Director/Chief Data Officer, Securities
and Exchange Commission, c/o Tanya
Ruttenberg, 100 F St NE, Washington,
DC 20549 or send an email to: PRA_
Mailbox@sec.gov.
Dated: December 9, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–29303 Filed 12–12–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–132, OMB Control No.
3235–0158]
Submission for OMB Review;
Comment Request; Extension: Rule
20a–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. 3501–3520), the Securities
and Exchange Commission has
submitted to the Office of Management
and Budget a request for extension of
2 10
E:\FR\FM\13DEN1.SGM
hours × 10 NRSROs = 100 hours.
13DEN1
khammond on DSK9W7S144PROD with NOTICES
Federal Register / Vol. 89, No. 240 / Friday, December 13, 2024 / Notices
the previously approved collection of
information discussed below.
Rule 20a–1 (17 CFR 270.20a–1) was
adopted under Section 20(a) of the
Investment Company Act of 1940
(‘‘1940 Act’’) (15 U.S.C. 80a–20(a)) and
concerns the solicitation of proxies,
consents, and authorizations with
respect to securities issued by registered
investment companies (‘‘Funds’’). More
specifically, rule 20a–1 under the 1940
Act (15 U.S.C. 80a–1 et seq.) requires
that the solicitation of a proxy, consent,
or authorization with respect to a
security issued by a Fund be in
compliance with Regulation 14A (17
CFR 240.14a–1 et seq.), Schedule 14A
(17 CFR 240.14a–101), and all other
rules and regulations adopted pursuant
to section 14(a) of the Securities
Exchange Act of 1934 (‘‘1934 Act’’) (15
U.S.C. 78n(a)). It also requires, in certain
circumstances, a Fund’s investment
adviser or a prospective adviser, and
certain affiliates of the adviser or
prospective adviser, to transmit to the
person making the solicitation the
information necessary to enable that
person to comply with the rules and
regulations applicable to the
solicitation. In addition, rule 20a–1
instructs Funds that have made a public
offering of securities and that hold
security holder votes for which proxies,
consents, or authorizations are not being
solicited, to refer to section 14(c) of the
1934 Act (15 U.S.C. 78n(c)) and the
information statement requirements set
forth in the rules thereunder.
The types of proposals voted upon by
Fund shareholders include not only the
typical matters considered in proxy
solicitations made by operating
companies, such as the election of
directors, but also include issues that
are unique to Funds, such as the
approval of an investment advisory
contract and the approval of changes in
fundamental investment policies of the
Fund. Through rule 20a–1, any person
making a solicitation with respect to a
security issued by a Fund must, similar
to operating company solicitations,
comply with the rules and regulations
adopted pursuant to Section 14(a) of the
1934 Act. Some of those Section 14(a)
rules and regulations, however, include
provisions specifically related to Funds,
including certain particularized
disclosure requirements set forth in Item
22 of Schedule 14A under the 1934 Act.
Rule 20a–1 is intended to ensure that
investors in Fund securities are
provided with appropriate information
upon which to base informed decisions
regarding the actions for which Funds
solicit proxies. Without rule 20a–1,
Fund issuers would not be required to
comply with the rules and regulations
VerDate Sep<11>2014
18:12 Dec 12, 2024
Jkt 265001
adopted under Section 14(a) of the 1934
Act, which are applicable to non-Fund
issuers, including the provisions
relating to the form of proxy and
disclosure in proxy statements.
The staff currently estimates that
approximately 1,129 proxy statements
are filed by Funds annually.1 Based on
staff estimates and information from the
industry, the staff estimates that the
average annual burden associated with
the preparation and submission of proxy
statements is 85 hours per response, for
a total annual burden of 95,965 hours
(1,129 responses × 85 hours per
response = 95,965). In addition, the staff
estimates the costs for purchased
services, such as outside legal counsel,
proxy statement mailing, and proxy
tabulation services, to be approximately
$30,000 per proxy solicitation.
Rule 20a–1 does not involve any
recordkeeping requirements. Providing
the information required by the rule is
mandatory and information provided
under the rule 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
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=202410-3235-001
or email comments to
MBX.OMB.OIRA.SEC_desk_officer@
omb.eop.gov.
Dated: December 9, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–29305 Filed 12–12–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–642, OMB Control No.
3235–0696]
Submission for OMB Review;
Comment Request; Extension: Rules
15Fb1–1 Through 15Fb6–2 and Forms
SBSE, SBSE–A, SBSE–BD, SBSE–C
and SBSE–W
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
1 This estimate is based on the three-year average
of the number of proxies filed by registered
investment companies.
PO 00000
Frm 00133
Fmt 4703
Sfmt 4703
101081
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’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for extension of the
previously approved collection of
information provided for in the
following rules: Rules 15Fb1–1 through
15Fb6–2 (17 CFR 240.15Fb1–1 through
240.15Fb6–2), and Forms SBSE, SBSE–
A, SBSE–BD, SBSE–C and SBSE–W (17
CFR 249.1600, 249.1600a, 249.1600b,
249.1600c and 249.1601) under the
Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.).
The Commission adopted Rules
15Fb1–1 through 15Fb6–2 and Forms
SBSE, SBSE–A, SBSE–BD, SBSE–C and
SBSE–W on August 5, 2015 to create a
process to register SBS Entities. Forms
SBSE, SBSE–A, and SBSE–BD and
SBSE–C were designed to elicit certain
information from applicants. The
Commission uses the information
disclosed by applicants through the SBS
Entity registration rules and forms to: (1)
determine whether an applicant meets
the standards for registration set forth in
the provisions of the Exchange Act; and
(2) develop an information resource
regarding SBS Entities where members
of the public may obtain relevant, up-todate information about SBS Entities,
and where the Commission may obtain
information for examination and
enforcement purposes. Without the
information provided through these SBS
Entity registration rules and forms, the
Commission could not effectively
determine whether the applicant meets
the standards for registration or
implement policy objectives of the
Exchange Act.
The information collected pursuant to
Rule 15Fb3–2 and Form SBSE–W allows
the Commission to determine whether it
is appropriate to allow an SBS Entity to
withdraw from registration and to
facilitate that withdrawal. Without this
information, the Commission would be
unable to effectively determine whether
it was appropriate to allow an SBS
Entity to withdraw. In addition, it
would be more difficult for the
Commission to properly regulate SBS
Entities if it were unable to quickly
identify those that have withdrawn from
the security-based swap business.
As of September 30, 2024, 53 entities
have registered with the Commission as
SBS Entities. The Commission estimates
that an additional five entities will
register as SBS Entities. The
Commission estimates that these SBS
E:\FR\FM\13DEN1.SGM
13DEN1
Agencies
[Federal Register Volume 89, Number 240 (Friday, December 13, 2024)]
[Notices]
[Pages 101080-101081]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-29305]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-132, OMB Control No. 3235-0158]
Submission for OMB Review; Comment Request; Extension: Rule 20a-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. 3501-3520), the Securities and Exchange
Commission has submitted to the Office of Management and Budget a
request for extension of
[[Page 101081]]
the previously approved collection of information discussed below.
Rule 20a-1 (17 CFR 270.20a-1) was adopted under Section 20(a) of
the Investment Company Act of 1940 (``1940 Act'') (15 U.S.C. 80a-20(a))
and concerns the solicitation of proxies, consents, and authorizations
with respect to securities issued by registered investment companies
(``Funds''). More specifically, rule 20a-1 under the 1940 Act (15
U.S.C. 80a-1 et seq.) requires that the solicitation of a proxy,
consent, or authorization with respect to a security issued by a Fund
be in compliance with Regulation 14A (17 CFR 240.14a-1 et seq.),
Schedule 14A (17 CFR 240.14a-101), and all other rules and regulations
adopted pursuant to section 14(a) of the Securities Exchange Act of
1934 (``1934 Act'') (15 U.S.C. 78n(a)). It also requires, in certain
circumstances, a Fund's investment adviser or a prospective adviser,
and certain affiliates of the adviser or prospective adviser, to
transmit to the person making the solicitation the information
necessary to enable that person to comply with the rules and
regulations applicable to the solicitation. In addition, rule 20a-1
instructs Funds that have made a public offering of securities and that
hold security holder votes for which proxies, consents, or
authorizations are not being solicited, to refer to section 14(c) of
the 1934 Act (15 U.S.C. 78n(c)) and the information statement
requirements set forth in the rules thereunder.
The types of proposals voted upon by Fund shareholders include not
only the typical matters considered in proxy solicitations made by
operating companies, such as the election of directors, but also
include issues that are unique to Funds, such as the approval of an
investment advisory contract and the approval of changes in fundamental
investment policies of the Fund. Through rule 20a-1, any person making
a solicitation with respect to a security issued by a Fund must,
similar to operating company solicitations, comply with the rules and
regulations adopted pursuant to Section 14(a) of the 1934 Act. Some of
those Section 14(a) rules and regulations, however, include provisions
specifically related to Funds, including certain particularized
disclosure requirements set forth in Item 22 of Schedule 14A under the
1934 Act.
Rule 20a-1 is intended to ensure that investors in Fund securities
are provided with appropriate information upon which to base informed
decisions regarding the actions for which Funds solicit proxies.
Without rule 20a-1, Fund issuers would not be required to comply with
the rules and regulations adopted under Section 14(a) of the 1934 Act,
which are applicable to non-Fund issuers, including the provisions
relating to the form of proxy and disclosure in proxy statements.
The staff currently estimates that approximately 1,129 proxy
statements are filed by Funds annually.\1\ Based on staff estimates and
information from the industry, the staff estimates that the average
annual burden associated with the preparation and submission of proxy
statements is 85 hours per response, for a total annual burden of
95,965 hours (1,129 responses x 85 hours per response = 95,965). In
addition, the staff estimates the costs for purchased services, such as
outside legal counsel, proxy statement mailing, and proxy tabulation
services, to be approximately $30,000 per proxy solicitation.
---------------------------------------------------------------------------
\1\ This estimate is based on the three-year average of the
number of proxies filed by registered investment companies.
---------------------------------------------------------------------------
Rule 20a-1 does not involve any recordkeeping requirements.
Providing the information required by the rule is mandatory and
information provided under the rule 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 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=202410-3235-001 or email
comments to [email protected].
Dated: December 9, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-29305 Filed 12-12-24; 8:45 am]
BILLING CODE 8011-01-P