80 FR 12239 - Proposed Collection; Comment Request
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 44 (March 6, 2015)
Federal Register Volume 80, Issue 44 (March 6, 2015)
| Page Range | 12239-12240 | |
| FR Document | 2015-05219 |
[Federal Register Volume 80, Number 44 (Friday, March 6, 2015)] [Notices] [Pages 12239-12240] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-05219] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 20549-2736. Extension: Rule 30e-2. SEC File No. 270-437, OMB Control No. 3235-0494. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) (``Paperwork Reduction Act''), the Securities and Exchange Commission (the ``Commission'') is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget (``OMB'') for extension and approval. Rule 30e-2 (17 CFR 270.30e-2) under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) (``Investment Company Act'') requires registered unit investment trusts (``UITs'') that invest substantially all of their assets in shares of a management investment company (``fund'') to send their unitholders annual and semiannual reports containing financial information on the [[Page 12240]] underlying company. Specifically, rule 30e-2 requires that the report contain all the applicable information and financial statements or their equivalent, required by rule 30e-1 under the Investment Company Act (17 CFR 270.30e-1) to be included in reports of the underlying fund for the same fiscal period. Rule 30e-1 requires that the underlying fund's report contain, among other things, the information that is required to be included in such reports by the fund's registration statement form under the Investment Company Act. The purpose of this requirement is to apprise current shareholders of the operational and financial condition of the UIT. Absent the requirement to disclose all material information in reports, investors would be unable to obtain accurate information upon which to base investment decisions and consumer confidence in the securities industry might be adversely affected. Requiring the submission of these reports to the Commission permits us to verify compliance with securities law requirements. Rule 30e-2, however, permits, under certain conditions, delivery of a single shareholder report to investors who share an address (``householding''). Specifically, rule 30e-2 permits householding of annual and semi-annual reports by UITs to satisfy the delivery requirements of rule 30e-2 if, in addition to the other conditions set forth in the rule, the UIT has obtained from each applicable investor written or implied consent to the householding of shareholder reports at such address. The rule requires UITs that wish to household shareholder reports with implied consent to send a notice to each applicable investor stating that the investors in the household will receive one report in the future unless the investors provide contrary instructions. In addition, at least once a year, UITs relying on the rule for householding must explain to investors who have provided written or implied consent how they can revoke their consent. The purpose of the notice and annual explanation requirements associated with the householding provisions of the rule is to ensure that investors who wish to receive individual copies of shareholder reports are able to do so. The Commission estimates that the annual burden associated with rule 30e-2 is 121 hours per respondent, including an estimated 20 hours associated with the notice requirement for householding and an estimated 1 hour associated with the explanation of the right to revoke consent to householding. The Commission estimates that there are currently approximately 700 UITs. Therefore, the Commission estimates that the total hour burden is approximately 84,700 hours. In addition to the burden hours, the Commission estimates that the annual cost of contracting for outside services associated with rule 30e-2 is $20,000 per respondent, for a total annual cost of approximately $14,000,000. 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 30e-2 is mandatory. The information provided under rule 30e-2 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. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the agency's estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; 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 in writing within 60 days of this publication. Please direct your written comments to 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]. Dated: March 2, 2015. Brent J. Fields, Secretary. [FR Doc. 2015-05219 Filed 3-5-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 44 / Friday, March 6, 2015 / Notices 12239
Applicant’s Address: 1555 Peachtree Invesco California Municipal Securities Filing Dates: The application was
St. NE., Ste. 1800, Atlanta, GA 30309. [File No. 811–7111]; Invesco California filed on January 27, 2015.
Municipal Income Trust [File No. 811– Applicant’s Address: Victory Capital
Invesco New York Quality Municipal Management Inc., 4900 Tiedeman Rd.
7344]; Invesco California Quality
Securities [File No. 811–7562] 4th Floor, Brooklyn, OH 44144.
Municipal Securities [File No. 811–
Summary: Applicant, a closed-end 7564] iShares MSCI Russia Capped ETF, Inc.
investment company, seeks an order Summary: Each applicant, a closed- [File No. 811–22421]
declaring that it has ceased to be an end investment company, seeks an
investment company. Applicant Summary: Applicant seeks an order
order declaring that it has ceased to be declaring that it has ceased to be an
transferred its assets to Invesco Van an investment company. Applicants
Kampen Trust for Investment Grade investment company. Applicant
transferred their assets to Invesco Van transferred its assets to iShares MSCI
New York Municipals (now known as Kampen California Value Municipal
Invesco Trust for Investment Grade New Russia Capped ETF, a series of iShares,
Income Trust (now known as Invesco Inc., and on January 26, 2015, made a
York Municipals), and on August 27, California Value Municipal Income distribution to its shareholders based on
2012, made a distribution to its Trust), and on August 27, 2012, made net asset value. BlackRock Fund
shareholders based on net asset value. distributions to their shareholders based Advisors, applicant’s investment
Expenses of $259,706, incurred in on net asset value. Expenses of adviser, paid the expenses incurred in
connection with the reorganization were $179,549, $192,823, and $179,549, connection with the reorganization.
paid by Invesco Advisers, Inc., respectively, incurred in connection Filing Date: The application was filed
applicant’s investment adviser. with the reorganizations were paid by on January 26, 2015.
Filing Date: The application was filed Invesco Advisers, Inc., applicants’ Applicant’s Address: c/o State Street
on February 4, 2015. investment adviser. Bank and Trust Company, 1 Iron St.,
Applicant’s Address: 1555 Peachtree Filing Date: The applications were Boston, MA 02210.
St. NE., Ste. 1800, Atlanta, GA 30309. filed on February 4, 2015.
Applicants’ Address: 1555 Peachtree For the Commission, by the Division of
Invesco Quality Municipal Investment St. NE., Ste. 1800, Atlanta, GA 30309. Investment Management, pursuant to
delegated authority.
Trust [File No. 811–6346]; Invesco
Invesco Van Kampen Ohio Quality Jill M. Peterson,
Quality Municipal Securities [File No.
Municipal Trust [File No. 811–6364]; Assistant Secretary.
811–7560]
Invesco Van Kampen Trust for [FR Doc. 2015–05216 Filed 3–5–15; 8:45 am]
Summary: Each applicant, a closed- Investment Grade New Jersey BILLING CODE 8011–01–P
end investment company, seeks an Municipals [File No. 811–6536]; Invesco
order declaring that it has ceased to be Van Kampen Massachusetts Value
an investment company. Applicants Municipal Income Trust [File No. 811– SECURITIES AND EXCHANGE
transferred their assets to Invesco 7088] COMMISSION
Quality Municipal Income Trust, and on Summary: Each applicant, a closed-
October 15, 2012, made distributions to end investment company, seeks an Proposed Collection; Comment
their shareholders based on net asset order declaring that it has ceased to be Request
value. Expenses of $197,200 and an investment company. Applicants Upon Written Request, Copies Available
$202,100, respectively, incurred in transferred their assets to Invesco Van From: Securities and Exchange
connection with the reorganizations Kampen Municipal Trust (now known Commission, Office of FOIA Services,
were paid by Invesco Advisers, Inc., as Invesco Municipal Trust), and on 100 F Street NE., Washington, DC
applicants’ investment adviser. October 15, 2012, made distributions to 20549–2736.
Filing Date: The applications were their shareholders based on net asset
value. Expenses of $188,271, $186,904 Extension:
filed on February 4, 2015. Rule 30e–2. SEC File No. 270–437, OMB
Applicants’ Address: 1555 Peachtree and $183,827, respectively, incurred in Control No. 3235–0494.
St. NE., Ste. 1800, Atlanta, GA 30309. connection with the reorganizations
were paid by Invesco Advisers, Inc., Notice is hereby given that, pursuant
Invesco High Yield Investments Fund, applicants’ investment adviser. to the Paperwork Reduction Act of 1995
Inc. [File No. 811–8044] Filing Date: The applications were (44 U.S.C. 3501 et seq.) (‘‘Paperwork
filed on February 4, 2015. Reduction Act’’), the Securities and
Summary: Applicant, a closed-end Exchange Commission (the
Applicants’ Address: 1555 Peachtree
investment company, seeks an order ‘‘Commission’’) is soliciting comments
St. NE., Ste. 1800, Atlanta, GA 30309.
declaring that it has ceased to be an on the collection of information
investment company. Applicant Munder Series Trust [File No. 811– summarized below. The Commission
transferred its assets to Invesco Van 21294] plans to submit this existing collection
Kampen High Income Trust II (now Summary: Applicant seeks an order of information to the Office of
known as Invesco High Income Trust II), declaring that it has ceased to be an Management and Budget (‘‘OMB’’) for
and on August 27, 2012, made investment company. Applicant extension and approval.
distributions to its shareholders based transferred its assets to corresponding Rule 30e–2 (17 CFR 270.30e–2) under
on net asset value. Expenses of $275,566 series of The Victory Portfolios, and on the Investment Company Act of 1940
incurred in connection with the
mstockstill on DSK4VPTVN1PROD with NOTICES
October 31, 2014, made a distribution to (15 U.S.C. 80a–1 et seq.) (‘‘Investment
reorganization were paid by Invesco its shareholders based on net asset Company Act’’) requires registered unit
Advisers, Inc., applicant’s investment value. Expenses of $3,896,437 incurred investment trusts (‘‘UITs’’) that invest
adviser. in connection with the reorganization substantially all of their assets in shares
Filing Date: The application was filed were paid by Munder Capital of a management investment company
on February 4, 2015. Management, applicant’s investment (‘‘fund’’) to send their unitholders
Applicant’s Address: 1555 Peachtree adviser, and Victory Capital annual and semiannual reports
St. NE., Ste. 1800, Atlanta, GA 30309. Management Inc. containing financial information on the
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![12240 Federal Register / Vol. 80, No. 44 / Friday, March 6, 2015 / Notices
underlying company. Specifically, rule Therefore, the Commission estimates SECURITIES AND EXCHANGE
30e–2 requires that the report contain that the total hour burden is COMMISSION
all the applicable information and approximately 84,700 hours. In addition
financial statements or their equivalent, to the burden hours, the Commission [Release No. 34–74410; File No. SR–NYSE–
required by rule 30e–1 under the estimates that the annual cost of 2015–09]
Investment Company Act (17 CFR contracting for outside services
270.30e–1) to be included in reports of associated with rule 30e–2 is $20,000 Self-Regulatory Organizations; New
the underlying fund for the same fiscal per respondent, for a total annual cost York Stock Exchange LLC; Notice of
period. Rule 30e–1 requires that the of approximately $14,000,000. Filing and Immediate Effectiveness of
underlying fund’s report contain, among Proposed Rule Change Specifying in
other things, the information that is Estimates of average burden hours are
made solely for the purposes of the Exchange Rules the Exchange’s Use of
required to be included in such reports
Paperwork Reduction Act and are not Certain Data Feeds for Order Handling
by the fund’s registration statement form
derived from a comprehensive or even and Execution, Order Routing, and
under the Investment Company Act.
The purpose of this requirement is to representative survey or study of the Regulatory Compliance
apprise current shareholders of the costs of Commission rules and forms. March 2, 2015.
operational and financial condition of The collection of information under rule
the UIT. Absent the requirement to 30e–2 is mandatory. The information Pursuant to section 19(b)(1) 1 of the
disclose all material information in provided under rule 30e–2 will not be Securities Exchange Act of 1934 (the
reports, investors would be unable to kept confidential. An agency may not ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
obtain accurate information upon which conduct or sponsor, and a person is not notice is hereby given that, on February
to base investment decisions and required to respond to, a collection of 24, 2015, New York Stock Exchange
consumer confidence in the securities information unless it displays a LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed
industry might be adversely affected. currently valid OMB control number. with the Securities and Exchange
Requiring the submission of these Commission (the ‘‘Commission’’) the
reports to the Commission permits us to Written comments are invited on: (a) proposed rule change as described in
verify compliance with securities law Whether the proposed collection of Items I and II below, which Items have
requirements. information is necessary for the proper been prepared by the self-regulatory
Rule 30e–2, however, permits, under performance of the functions of the organization. The Commission is
certain conditions, delivery of a single agency, including whether the publishing this notice to solicit
shareholder report to investors who information will have practical utility; comments on the proposed rule change
share an address (‘‘householding’’). (b) the accuracy of the agency’s estimate from interested persons.
Specifically, rule 30e–2 permits of the burden of the collection of
householding of annual and semi- information; (c) ways to enhance the I. Self-Regulatory Organization’s
annual reports by UITs to satisfy the quality, utility, and clarity of the Statement of the Terms of Substance of
delivery requirements of rule 30e–2 if, information collected; and (d) ways to the Proposed Rule Change
in addition to the other conditions set minimize the burden of the collection of
forth in the rule, the UIT has obtained The Exchange proposes to specify in
information on respondents, including Exchange rules the Exchange’s use of
from each applicable investor written or
through the use of automated collection certain data feeds for order handling
implied consent to the householding of
techniques or other forms of information and execution, order routing, and
shareholder reports at such address. The
rule requires UITs that wish to technology. Consideration will be given regulatory compliance. The text of the
household shareholder reports with to comments and suggestions submitted proposed rule change is available on the
implied consent to send a notice to each in writing within 60 days of this Exchange’s Web site at www.nyse.com,
applicable investor stating that the publication. at the principal office of the Exchange,
investors in the household will receive Please direct your written comments and at the Commission’s Public
one report in the future unless the to Pamela Dyson, Director/Chief Reference Room.
investors provide contrary instructions. Information Officer, Securities and
In addition, at least once a year, UITs II. Self-Regulatory Organization’s
Exchange Commission, C/O Remi
relying on the rule for householding Statement of the Purpose of, and
Pavlik-Simon, 100 F Street NE.,
must explain to investors who have Statutory Basis for, the Proposed Rule
Washington, DC 20549; or send an email
provided written or implied consent Change
to: PRA_Mailbox@sec.gov.
how they can revoke their consent. The
purpose of the notice and annual Dated: March 2, 2015. In its filing with the Commission, the
explanation requirements associated Brent J. Fields, self-regulatory organization included
with the householding provisions of the statements concerning the purpose of,
Secretary.
rule is to ensure that investors who wish and basis for, the proposed rule change
[FR Doc. 2015–05219 Filed 3–5–15; 8:45 am]
to receive individual copies of and discussed any comments it received
BILLING CODE 8011–01–P
shareholder reports are able to do so. on the proposed rule change. The text
The Commission estimates that the of those statements may be examined at
annual burden associated with rule 30e– the places specified in Item IV below.
mstockstill on DSK4VPTVN1PROD with NOTICES
2 is 121 hours per respondent, including The Exchange has prepared summaries,
an estimated 20 hours associated with set forth in sections A, B, and C below,
the notice requirement for householding of the most significant parts of such
and an estimated 1 hour associated with statements.
the explanation of the right to revoke
consent to householding. The 1 15 U.S.C.78s(b)(1).
Commission estimates that there are 2 15 U.S.C. 78a.
currently approximately 700 UITs. 3 17 CFR 240.19b–4.
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Document Created: 2018-02-21 09:33:16
Document Modified: 2018-02-21 09:33:16
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 80 FR 12239 |
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