80 FR 52814 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 169 (September 1, 2015)

Page Range		52814-52815
FR Document		2015-21556

Federal Register, Volume 80 Issue 169 (Tuesday, September 1, 2015)

[Federal Register Volume 80, Number 169 (Tuesday, September 1, 2015)]
[Notices]
[Pages 52814-52815]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-21556]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services,

[[Page 52815]]

100 F Street NE., Washington, DC 20549-2736.

Extension:
    Voluntary XBRL-Related Documents, SEC File No. 270-550, OMB 
Control No. 3235-0611.

    Notice is hereby given that, under the Paperwork Reduction Act of 
1995 (44 U.S.C. 3501 et seq.) (``Paperwork Reduction Act''), 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.
    As part of our evaluation of the potential of interactive data 
tagging technology, the Commission permits registered investment 
companies (``funds'') to submit on a voluntary basis specified 
financial statement and portfolio holdings disclosure tagged in 
eXtensible Business Reporting Language (``XBRL'') format as an exhibit 
to certain filings on the Commission's Electronic Data Gathering, 
Analysis and Retrieval System (``EDGAR''). The current voluntary 
program permits any fund to participate merely by submitting a tagged 
exhibit in the required manner. These exhibits are publicly available 
but are considered furnished rather than filed. The purpose of the 
collection of information is to help evaluate the usefulness of data 
tagging and XBRL to registrants, investors, the Commission, and the 
marketplace.
    We estimate that no funds participate in the voluntary program each 
year. This information collection, therefore, imposes no hour burden; 
however, we are requesting a burden of one hour for administrative 
purposes. We also estimate that the information collection imposes no 
cost burden.
    Estimates of the average burden hours and costs 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. Participation in the program is voluntary. 
Submissions under the program 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: August 26, 2015.
 Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-21556 Filed 8-31-15; 8:45 am]
 BILLING CODE 8011-01-P

52814 Federal Register / Vol. 80, No. 169 / Tuesday, September 1, 2015 / Notices

effective date of the rule. The Applicant available steps to cause the contributor submits that the interests of the Client
represents that the Policy is more involved in making the contribution are best served by allowing the
restrictive than what was contemplated which resulted in such prohibition to Applicant and the Client to continue
by the rule. The Applicant represents obtain a return of the contribution; and their relationship uninterrupted.
that the Contributor simply temporarily (2) has taken such other remedial or 7. The Applicant submits that the
failed to seek preclearance for the preventive measures as may be Contributor’s decision to make the
Contribution and realized his error five appropriate under the circumstances; Contribution to the Official’s committee
days later. The Applicant represents (iii) Whether, at the time of the was based on the personal and
that after the Contribution, it sent a contribution, the contributor was a professional relationship between the
reminder of the Policy to all employees. covered associate or otherwise an two men and not any desire to influence
employee of the investment adviser, or with the Client’s merit-based selection
The Applicant’s Legal Analysis
was seeking such employment; (iv) The process for advisory services.
1. Rule 206(4)–5(a)(1) under the timing and amount of the contribution 8. The Applicant contends that
Advisers Act prohibits a registered which resulted in the prohibition; (v) although the Applicant’s Policy
investment adviser from providing The nature of the election (e.g., federal, required the Contributor to obtain prior
investment advisory services for state or local); and (vi) The contributor’s approval for the Contribution, which he
compensation to a government entity apparent intent or motive in making the failed to do, the Contributor realized his
within two years after a contribution to contribution which resulted in the error in less than a week. The Applicant
an official of the government entity is prohibition, as evidenced by the facts
made by the investment adviser or any further maintains that at the
and circumstances surrounding such Contributor’s request, the Contribution
covered associate of the investment contribution.
adviser. The Client is a government was refunded within nine days of the
4. The Applicant requests an order
entity, as defined in rule 206(4)–5(f)(5), date it was made. The Contribution’s
pursuant to section 206A and rule
the Contributor is a ‘‘covered associate’’ discovery and refund were well within
206(4)–5(e), exempting it from the two-
as defined in rule 206(4)–5(f)(2), and the the time period required for an
year prohibition on compensation
Official is an ‘‘official’’ as defined in automatic exemption pursuant to rule
imposed by rule 206(4)–5(a)(1) with
rule 206(4)–5(f)(6). Rule 206(4)–5(c) 206(4)–5(b)(3).
respect to investment advisory services
provides that when a government entity provided to the Client following the 9. Applicant further submits that the
invests in a covered investment pool, Contribution. The Applicant asserts that other factors set forth in rule 206(4)–5(e)
the investment adviser to that covered the exemption sought is necessary and similarly weigh in favor of granting an
investment pool is treated as providing appropriate in the public interest and exemption to the Applicant to avoid
advisory services directly to the consistent with the protection of consequences disproportionate to the
government entity. The Funds are investors and the purposes fairly violation.
‘‘covered investment’’ pools as defined intended by the policy and provisions of 10. Accordingly, the Applicant
in rule 206(4)–5(f)(3)(ii). the Advisers Act. respectfully submits that the interests of
2. Section 206A of the Advisers Act 5. The Applicant maintains that the investors and the purposes of the
grants the Commission the authority to timing of the Contribution, at the time Advisers Act are best served in this
‘‘conditionally or unconditionally of the Contribution the Official’s not instance by allowing the Adviser and its
exempt any person or transaction . . . having the authority to appoint anyone Client to continue their relationship
from any provision or provisions of [the who participated in the Client’s uninterrupted in the absence of any
Advisers Act] or of any rule or decision to invest with the Adviser, and intent or action by the Contributor to
regulation thereunder, if and to the the length of time in which the interfere with the Client’s merit-based
extent that such exemption is necessary Contributor obtained a refund from the process for the selection and retention
or appropriate in the public interest and Official indicate that the Contribution of advisory services. The Applicant
consistent with the protection of was not part of any quid pro quo submits that an exemption from the
investors and the purposes fairly arrangement, but rather an inadvertent two-year prohibition on compensation
intended by the policy and provisions of failure to follow the Adviser’s Policy by is necessary and appropriate in the
[the Advisers Act].’’ the Contributor. public interest and consistent with the
3. Rule 206(4)–5(e) provides that the 6. The Applicant states that the Client protection of investors and the purposes
Commission may exempt an investment determined to invest with Applicant fairly intended by the policy and
adviser from the prohibition under rule and established an advisory relationship provisions of the Advisers Act.
206(4)–5(a)(1) upon consideration of, on an arm’s length basis free from any For the Commission, by the Division of
among other factors, (i) Whether the improper influence as a result of the Investment Management, under delegated
exemption is necessary or appropriate Contribution. In support of this authority.
in the public interest and consistent argument, Applicant notes that the Robert W. Errett,
with the protection of investors and the Client’s relationship with the Applicant Deputy Secretary.
purposes fairly intended by the policy pre-dates the Contribution.
[FR Doc. 2015–21554 Filed 8–31–15; 8:45 am]
and provisions of the Advisers Act; (ii) Furthermore, the Client’s subsequent
BILLING CODE 8011–01–P
Whether the investment adviser: (A) investments were made after the
Before the contribution resulting in the Contribution was refunded and the
prohibition was made, adopted and Official had no role in the Client’s
SECURITIES AND EXCHANGE
mstockstill on DSK4VPTVN1PROD with NOTICES

implemented policies and procedures subsequent investments, and he did not
COMMISSION
reasonably designed to prevent take office, had not been elected, nor
violations of the rule; and (B) prior to or obtained appointment power until 2015. Submission for OMB Review;
at the time the contribution which Similarly, the Applicant represents that Comment Request
resulted in such prohibition was made, the Contributor did not solicit the Client
had no actual knowledge of the with respect to the subsequent Upon Written Request, Copies Available
contribution; and (C) after learning of investments, nor did anyone whom he From: Securities and Exchange
the contribution: (1) Has taken all supervises. The Applicant respectfully Commission, Office of FOIA Services,

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Federal Register / Vol. 80, No. 169 / Tuesday, September 1, 2015 / Notices 52815

100 F Street NE., Washington, DC Affairs, Office of Management and estimates that compliance staff work at
20549–2736. Budget, Room 10102, New Executive subject entities results in an internal
Extension: Office Building, Washington, DC 20503, cost of compliance, at an estimated
Voluntary XBRL-Related Documents, SEC or by sending an email to: Shagufta_ hourly wage of $283, of $141.50 per year
File No. 270–550, OMB Control No. Ahmed@omb.eop.gov; and (ii) Pamela per entity (.5 hours × $283 per hour =
3235–0611. Dyson, Director/Chief Information $141.50 per year). Therefore, the
Notice is hereby given that, under the Officer, Securities and Exchange aggregate annual internal cost of
Paperwork Reduction Act of 1995 (44 Commission, c/o Remi Pavlik-Simon, compliance is approximately $1,415
U.S.C. 3501 et seq.) (‘‘Paperwork 100 F Street NE., Washington, DC 20549 ($141.50 × 10= $1,415).
or send an email to: PRA_Mailbox@ This rule does not involve the
Reduction Act’’), the Securities and
sec.gov. Comments must be submitted to collection of confidential information.
Exchange Commission (the
OMB within 30 days of this notice. An agency may not conduct or
‘‘Commission’’) has submitted to the
Office of Management and Budget Dated: August 26, 2015. sponsor, and a person is not required to
(‘‘OMB’’) a request for extension of the Robert W. Errett, respond to, a collection of information
previously approved collection of Deputy Secretary. under the PRA unless it displays a
information discussed below. [FR Doc. 2015–21556 Filed 8–31–15; 8:45 am]
currently valid OMB control number.
As part of our evaluation of the The public may view background
BILLING CODE 8011–01–P
potential of interactive data tagging documentation for this information
technology, the Commission permits collection at the following Web site:
registered investment companies SECURITIES AND EXCHANGE www.reginfo.gov. Comments should be
(‘‘funds’’) to submit on a voluntary basis COMMISSION directed to: (i) Desk Officer for the
specified financial statement and Securities and Exchange Commission,
[SEC File No. 270–28, OMB Control No. Office of Information and Regulatory
portfolio holdings disclosure tagged in 3235–0032]
eXtensible Business Reporting Language Affairs, Office of Management and
(‘‘XBRL’’) format as an exhibit to certain Submission for OMB Review; Budget, Room 10102, New Executive
filings on the Commission’s Electronic Comment Request Office Building, Washington, DC 20503,
Data Gathering, Analysis and Retrieval or by sending an email to: Shagufta_
System (‘‘EDGAR’’). The current Upon Written Request, Copies Available Ahmed@omb.eop.gov; and (ii) Pamela
voluntary program permits any fund to From: Securities and Exchange Dyson, Director/Chief Information
participate merely by submitting a Commission, Office of FOIA Services, Officer, Securities and Exchange
tagged exhibit in the required manner. 100 F Street NE., Washington, DC Commission, c/o Remi Pavlik-Simon,
These exhibits are publicly available but 20549–2736. 100 F Street NE., Washington, DC
are considered furnished rather than Extension: 20549, or by sending an email to: PRA_
filed. The purpose of the collection of Rule 17f–1(b). Mailbox@sec.gov. Comments must be
information is to help evaluate the Notice is hereby given that pursuant submitted to OMB within 30 days of
usefulness of data tagging and XBRL to to the Paperwork Reduction Act of 1995 this notice.
registrants, investors, the Commission, (44 U.S.C. 3501 et seq.) (‘‘PRA’’), the Dated: August 26, 2015.
and the marketplace. Securities and Exchange Commission Robert W. Errett,
We estimate that no funds participate (‘‘Commission’’) has submitted to the Deputy Secretary.
in the voluntary program each year. Office of Management and Budget [FR Doc. 2015–21550 Filed 8–31–15; 8:45 am]
This information collection, therefore, (‘‘OMB’’) a request for approval of BILLING CODE 8011–01–P
imposes no hour burden; however, we extension of the previously approved
are requesting a burden of one hour for collection of information provided for in
administrative purposes. We also Rule 17f–1(b) (17 CFR 240.17f–1(b)) SECURITIES AND EXCHANGE
estimate that the information collection under the Securities Exchange Act of COMMISSION
imposes no cost burden. 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange
Estimates of the average burden hours Act’’). [Release No. 34–75762; File No. 600–35]
and costs are made solely for the Rule 17f–1(b) under the Exchange Act
purposes of the Paperwork Reduction requires approximately 15,517 entities Notice of Filing and Request for
Act and are not derived from a in the securities industry to register in Comment on Chicago Mercantile
comprehensive or even representative the Lost and Stolen Securities Program Exchange Inc.’s Request To Withdraw
survey or study of the costs of (‘‘Program’’). Registration fulfills a From Registration as a Clearing
Commission rules and forms. statutory requirement that entities Agency
Participation in the program is report and inquire about missing, lost,
voluntary. Submissions under the counterfeit, or stolen securities. August 26, 2015.
program will not be kept confidential. Registration also allows entities in the I. Introduction
An agency may not conduct or sponsor, securities industry to gain access to a
and a person is not required to respond confidential database that stores Pursuant to Section 19(a)(3) of the
to, a collection of information unless it information for the Program. Securities Exchange Act of 1934
displays a currently valid OMB control The Commission staff estimates that (‘‘Exchange Act’’),1 on August 3, 2015,
Chicago Mercantile Exchange Inc.
mstockstill on DSK4VPTVN1PROD with NOTICES

number. 10 new entities will register in the
The public may view the background Program each year. The staff estimates (‘‘CME’’) filed with the Securities and
documentation for this information that the average number of hours Exchange Commission (‘‘Commission’’)
collection at the following Web site, necessary to comply with Rule 17f–1(b) a written request (the ‘‘Written
www.reginfo.gov. Comments should be is one-half hour. Accordingly, the staff Request’’) to withdraw from registration
directed to: (i) Desk Officer for the estimates that the total annual burden as a clearing agency under Section 17A
Securities and Exchange Commission, for all participants is 5 hours (10 × one-
Office of Information and Regulatory half hour). The Commission staff 1 15 U.S.C. 78s(a)(3).

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Document Created: 2018-02-26 10:04:41
Document Modified: 2018-02-26 10:04:41

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 52814