80_FR_11282 80 FR 11242 - Submission for OMB Review; Comment Request

80 FR 11242 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 40 (March 2, 2015)

Page Range11242-11243
FR Document2015-04223

Federal Register, Volume 80 Issue 40 (Monday, March 2, 2015) 
[Federal Register Volume 80, Number 40 (Monday, March 2, 2015)]
[Notices]
[Pages 11242-11243]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-04223]


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SECURITIES AND EXCHANGE COMMISSION

[Extension: Rule 35d-1; SEC File No. 270-491, OMB Control No. 3235-
0548]


Submission for OMB Review; Comment Request

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.
    Rule 35d-1 (17 CFR 270.35d-1) under the Investment Company Act of 
1940 (15 U.S.C. 80a-1 et seq.) defines as ``materially deceptive and 
misleading'' for purposes of Section 35(d), among other things, a name 
suggesting that a registered investment company or series thereof (a 
``fund'') focuses its investments in a particular type of investment or 
investments, in investments in a particular industry or group of 
industries, or in investments in a particular country or geographic 
region, unless, among other things, the fund adopts a certain 
investment policy. Rule 35d-1 further requires either that the 
investment policy is fundamental or that the fund has adopted a policy 
to provide its shareholders with at least 30 days prior notice of any 
change in the investment policy (``notice to shareholders''). The 
rule's notice to shareholders provision is intended to ensure that when 
shareholders purchase shares in a fund based, at least in part, on its 
name, and with the expectation that it will follow the investment 
policy suggested by that name, they will have sufficient time to decide 
whether to redeem their shares in the event that the

[[Page 11243]]

fund decides to pursue a different investment policy.
    The Commission estimates that there are approximately 11,400 open-
end and closed-end funds that have names that are covered by the rule. 
The Commission estimates that of these 11,400 funds, approximately 32 
will provide prior notice to shareholders pursuant to a policy adopted 
in accordance with this rule per year. The Commission estimates that 
the annual burden associated with the notice to shareholders 
requirement of the rule is 20 hours per response, for an annual total 
of 640 hours per year.
    Estimates of average burden hours are made solely for the purposes 
of the Paperwork Reduction Act and are not derived from a comprehensive 
or even representative survey or study of the costs of Commission rules 
and forms. The collection of information under rule 35d-1 is mandatory. 
The information provided under rule 35d-1 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 the background documentation for this 
information collection at the following Web site, www.reginfo.gov. 
Comments should be directed to: (i) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, DC 20503, or by sending an email to: 
[email protected]; and (ii) Pamela Dyson, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549 or send an email 
to: [email protected]. Comments must be submitted to OMB within 30 
days of this notice.

    Dated: February 24, 2015.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2015-04223 Filed 2-27-15; 8:45 am]
BILLING CODE 8011-01-P

11242 Federal Register / Vol. 80, No. 40 / Monday, March 2, 2015 / Notices ROUTINE USES OF RECORDS IN THE SYSTEM, certain U.S. exchange-traded equity or by sending an email to: Shagufta_ INCLUDING CATEGORIES OF USERS AND THE securities, as set forth in rule 13f–1(c), Ahmed@omb.eop.gov; and (ii) Pamela PURPOSES OF SUCH USES to file quarterly reports with the Dyson, Chief Information Officer, * * * * * Commission on Form 13F.4 Securities and Exchange Commission, [CHANGE TO READ] The information collection c/o Remi Pavlik-Simon, 100 F Street k. Disclosure of employment and requirements apply to institutional NE., Washington, DC 20549 or send an wage data records about current Postal investment managers that meet the $100 email to: PRA_Mailbox@sec.gov. Service employees may be made to the million reporting threshold. Section Comments must be submitted to OMB Bureau of Labor Statistics for use in 13(f)(6) of the Exchange Act defines an within 30 days of this notice. their Occupational Employment ‘‘institutional investment manager’’ as Dated: February 24, 2015. Statistics program for the purpose of any person, other than a natural person, developing estimates of the number of Jill M. Peterson, investing in or buying and selling jobs in certain occupations, and securities for its own account, and any Assistant Secretary. estimates of the wages paid to them. person exercising investment discretion [FR Doc. 2015–04222 Filed 2–27–15; 8:45 am] * * * * * with respect to the account of any other BILLING CODE 8011–01–P person. Rule 13f–1(b) under the RETRIEVABILITY Exchange Act defines ‘‘investment [CHANGE TO READ] discretion’’ for purposes of Form 13F SECURITIES AND EXCHANGE By employee name, Social Security reporting. COMMISSION Number, Employee Identification The reporting system required by [Extension: Rule 35d–1; SEC File No. 270– Number, occupation code, occupation Section 13(f) of the Exchange Act is 491, OMB Control No. 3235–0548] title, or duty or pay location. intended, among other things, to create * * * * * in the Commission a central repository Submission for OMB Review; of historical and current data about the Comment Request Stanley F. Mires, investment activities of institutional Attorney, Federal Requirements. investment managers, and to improve Upon Written Request, Copies Available [FR Doc. 2015–04211 Filed 2–27–15; 8:45 am] the body of factual data available to From: Securities and Exchange regulators and the public. Commission, Office of FOIA Services, BILLING CODE 7710–12–P The Commission staff estimates that 100 F Street NE., Washington, DC 5,044 respondents make approximately 20549–2736. SECURITIES AND EXCHANGE 20,176 responses under the rule each Notice is hereby given that, pursuant COMMISSION year. The staff estimates that on average, to the Paperwork Reduction Act of 1995 Form 13F filers spend 80.8 hours/year (44 U.S.C. 3501 et seq.), the Securities Submission for OMB Review; to prepare and submit the report. In and Exchange Commission (the Comment Request addition, the staff estimates that 204 ‘‘Commission’’) has submitted to the respondents file approximately 816 Office of Management and Budget Upon Written Request, Copies Available amendments each year. The staff (‘‘OMB’’) a request for extension of the From: Securities and Exchange estimates that on average, Form 13F previously approved collection of Commission, Office of FOIA Services, filers spend 4 hours/year to prepare and information discussed below. 100 F Street NE., Washington, DC submit amendments to Form 13F. The Rule 35d–1 (17 CFR 270.35d–1) under 20549–2736. total annual burden of the rule’s the Investment Company Act of 1940 Extension: requirements for all respondents (15 U.S.C. 80a–1 et seq.) defines as Form 13F. SEC File No. 270–22, OMB therefore is estimated to be 408,371 ‘‘materially deceptive and misleading’’ Control No. 3235–0006. hours [(407,555 hours (5,044 filers × for purposes of Section 35(d), among Notice is hereby given that, pursuant 80.8 hours)) + (816 hours (204 filers × other things, a name suggesting that a to the Paperwork Reduction Act of 1995 4 hours))]. registered investment company or series (44 U.S.C. 3501, et seq.), the Securities The estimate of average burden hours thereof (a ‘‘fund’’) focuses its and Exchange Commission (the is made solely for the purposes of the investments in a particular type of ‘‘Commission’’) has submitted to the Paperwork Reduction Act. The estimate investment or investments, in Office of Management and Budget a is not derived from a comprehensive or investments in a particular industry or request for extension of the previously even a representative survey or study of group of industries, or in investments in approved collection of information the costs of Commission rules. An a particular country or geographic discussed below. agency may not conduct or sponsor, and region, unless, among other things, the Section 13(f) 1 of the Securities a person is not required to respond to, fund adopts a certain investment policy. Exchange Act of 1934 2 (the ‘‘Exchange a collection of information unless it Rule 35d–1 further requires either that Act’’) empowers the Commission to: (1) displays a currently valid control the investment policy is fundamental or Adopt rules that create a reporting and number. that the fund has adopted a policy to disclosure system to collect specific The public may view the background provide its shareholders with at least 30 information; and (2) disseminate such documentation for this information days prior notice of any change in the information to the public. Rule 13f–1 3 collection at the following Web site, investment policy (‘‘notice to www.reginfo.gov. Comments should be shareholders’’). The rule’s notice to asabaliauskas on DSK5VPTVN1PROD with NOTICES under the Exchange Act requires institutional investment managers that directed to: (i) Desk Officer for the shareholders provision is intended to exercise investment discretion over Securities and Exchange Commission, ensure that when shareholders purchase accounts that have in the aggregate a fair Office of Information and Regulatory shares in a fund based, at least in part, market value of at least $100,000,000 of Affairs, Office of Management and on its name, and with the expectation Budget, Room 10102, New Executive that it will follow the investment policy 1 15 U.S.C. 78m(f). Office Building, Washington, DC 20503, suggested by that name, they will have 2 15 U.S.C. 78a et seq. sufficient time to decide whether to 3 17 CFR 240.13f–1. 4 17 CFR 249.325. redeem their shares in the event that the VerDate Sep<11>2014 16:55 Feb 27, 2015 Jkt 235001 PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 E:\FR\FM\02MRN1.SGM 02MRN1

Federal Register / Vol. 80, No. 40 / Monday, March 2, 2015 / Notices 11243 fund decides to pursue a different Affairs, Office of Management and investment policy. Extension: Budget, Room 10102, New Executive The Commission estimates that there Rule 19d–2. SEC File No. 270–204, OMB Office Building, Washington, DC 20503, are approximately 11,400 open-end and Control No. 3235–0205. or by sending an email to: Shagufta_ closed-end funds that have names that Notice is hereby given that pursuant Ahmed@omb.eop.gov; and (ii) Pamela are covered by the rule. The to the Paperwork Reduction Act of 1995 Dyson, Chief Information Officer, Commission estimates that of these (44 U.S.C. 3501 et seq.) the Securities Securities and Exchange Commission, 11,400 funds, approximately 32 will and Exchange Commission c/o Remi Pavlik-Simon, 100 F Street, provide prior notice to shareholders (‘‘Commission’’) is soliciting comments NE., Washington, DC 20549 or send an pursuant to a policy adopted in on the existing collection of information email to: PRA_Mailbox@sec.gov. accordance with this rule per year. The provided for in Rule 19d–2— Comments must be submitted to OMB Commission estimates that the annual Applications for Stays of Final within 30 days of this notice. burden associated with the notice to Disciplinary Sanction (17 CFR 240.19d– Dated: February 24, 2015. shareholders requirement of the rule is 2) under the Securities Exchange Act of Jill M. Peterson, 20 hours per response, for an annual 1943 (15 U.S.C. 78a et seq.) (‘‘Exchange Assistant Secretary. total of 640 hours per year. Act’’). The Commission plans to submit [FR Doc. 2015–04221 Filed 2–27–15; 8:45 am] Estimates of average burden hours are this existing collection of information to BILLING CODE 8011–01–P made solely for the purposes of the the Office of Management and Budget Paperwork Reduction Act and are not (‘‘OMB’’) for extension and approval. derived from a comprehensive or even Rule 19d–2 under the Exchange Act SECURITIES AND EXCHANGE representative survey or study of the prescribes the form and content of COMMISSION costs of Commission rules and forms. applications to the Commission by [Release No. 34–74358; File No. SR–DTC– The collection of information under rule persons desiring stays of final 2015–01] 35d–1 is mandatory. The information disciplinary sanctions and summary provided under rule 35d–1 will not be action of self-regulatory organizations Self-Regulatory Organizations; The kept confidential. An agency may not (‘‘SROs’’) for which the Commission is Depository Trust Company; Notice of conduct or sponsor, and a person is not the appropriate regulatory agency. Filing of Proposed Rule Change To required to respond to, a collection of It is estimated that approximately Discontinue the Prospectus information unless it displays a three respondents will utilize this Repository System Service currently valid OMB control number. application procedure annually, with a total burden of nine hours, based upon February 24, 2015. The public may view the background past submissions. The staff estimates Pursuant to Section 19(b)(1) 1 of the documentation for this information that the average number of hours Securities Exchange Act of 1934 (‘‘Act’’) collection at the following Web site, necessary to comply with the and Rule 19b–4 2 thereunder, notice is www.reginfo.gov. Comments should be requirements of Rule 19d–2 is 3 hours. hereby given that on February 13, 2015, directed to: (i) Desk Officer for the Based on the most recent available The Depository Trust Company (‘‘DTC’’) Securities and Exchange Commission, information, the Commission staff filed with the Securities and Exchange Office of Information and Regulatory estimates that the internal labor cost to Commission (‘‘Commission’’) the Affairs, Office of Management and respondents of complying with the proposed rule change as described in Budget, Room 10102, New Executive requirements of Rule 19d–2 is $990 per Items I, II and III below, which Items Office Building, Washington, DC 20503, response. Therefore, the Commission have been prepared by DTC. The or by sending an email to: Shagufta_ staff estimates that the total internal Commission is publishing this notice to Ahmed@omb.eop.gov; and (ii) Pamela labor cost per respondent is $990 (1 solicit comments on the proposed rule Dyson, Director/Chief Information response/respondent/year × $990 cost/ change from interested persons. Officer, Securities and Exchange response), for a total annual internal Commission, c/o Remi Pavlik-Simon, I. Clearing Agency’s Statement of the labor cost to all respondents of $2,970 Terms of Substance of the Proposed 100 F Street NE., Washington, DC 20549 ($990 cost/respondent × 3 respondents). or send an email to: PRA_Mailbox@ Rule Change Estimates of average burden hours are sec.gov. Comments must be submitted to made solely for the purposes of the The proposed rule change consists of OMB within 30 days of this notice. Paperwork Reduction Act and are not a proposal to discontinue the Prospectus Dated: February 24, 2015. derived from a comprehensive or even Repository System Service (‘‘PRS’’) and representative survey or study of the delete the PRS Terms of Use (‘‘Terms of Jill M. Peterson, costs of Commission rules and forms. Use’’) from DTC’s Rules and Procedures Assistant Secretary. (‘‘Rules’’), as more fully described [FR Doc. 2015–04223 Filed 2–27–15; 8:45 am] The collection of information under rule 19d–2 is mandatory. The information below.3 BILLING CODE 8011–01–P provided under rule 19d–2 will not be II. Clearing Agency’s Statement of the kept confidential. An agency may not Purpose of, and Statutory Basis for, the SECURITIES AND EXCHANGE conduct or sponsor, and a person is not Proposed Rule Change COMMISSION required to respond to, a collection of In its filing with the Commission, information unless it displays a asabaliauskas on DSK5VPTVN1PROD with NOTICES DTC included statements concerning Submission for OMB Review; currently valid OMB control number. the purpose of and basis for the Comment Request The public may view the background proposed rule change and discussed any documentation for this information comments it received on the proposed Upon Written Request, Copies Available collection at the following Web site, From: Securities and Exchange www.reginfo.gov. Comments should be 1 15 U.S.C. 78s(b)(1). Commission, Office of FOIA Services, directed to: (i) Desk Officer for the 2 17 CFR 240.19b–4. 100 F Street NE., Washington, DC Securities and Exchange Commission, 3 Terms not otherwise defined herein have their 20549–2736. Office of Information and Regulatory respective meanings set forth in the Rules. VerDate Sep<11>2014 16:55 Feb 27, 2015 Jkt 235001 PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 E:\FR\FM\02MRN1.SGM 02MRN1


Document Created: 2015-12-18 12:07:14
Document Modified: 2015-12-18 12:07:14
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation80 FR 11242 
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