81 FR 83901 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 225 (November 22, 2016)

Page Range		83901-83901
FR Document		2016-28026

Federal Register, Volume 81 Issue 225 (Tuesday, November 22, 2016)

[Federal Register Volume 81, Number 225 (Tuesday, November 22, 2016)]
[Notices]
[Page 83901]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-28026]


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

Extension:
    Rule 17f-1(g); SEC File No. 270-30, OMB Control No. 3235-0290.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501et seq.) (``PRA''), the Securities and 
Exchange Commission (``Commission'') has submitted to the Office of 
Management and Budget (``OMB'') a request for approval of extension of 
the previously approved collection of information provided for in Rule 
17f-1(g) (17 CFR 240.17f-1(g)), under the Securities Exchange Act of 
1934 (15 U.S.C. 78a et seq.).
    Rule 17f-1(g) requires that all reporting institutions (i.e., every 
national securities exchange, member thereof, registered securities 
association, broker, dealer, municipal securities dealer, registered 
transfer agent, registered clearing agency, participant therein, member 
of the Federal Reserve System, and bank insured by the FDIC) maintain 
and preserve a number of documents related to their participation in 
the Lost and Stolen Securities Program (``Program'') under Rule 17f-1. 
The following documents must be kept in an easily accessible place for 
three years, according to paragraph (g): (1) Copies of all reports of 
theft or loss (Form X-17F-1A) filed with the Commission's designee: (2) 
All agreements between reporting institutions regarding registration in 
the Program or other aspects of Rule 17f-1; and (3) all confirmations 
or other information received from the Commission or its designee as a 
result of inquiry.
    Reporting institutions utilize these records and reports (a) to 
report missing, lost, stolen or counterfeit securities to the database, 
(b) to confirm inquiry of the database, and (c) to demonstrate 
compliance with Rule 17f-1. The Commission and the reporting 
institutions' examining authorities utilize these records to monitor 
the incidence of thefts and losses incurred by reporting institutions 
and to determine compliance with Rule 17f-1. If such records were not 
retained by reporting institutions, compliance with Rule 17f-1 could 
not be monitored effectively.
    The Commission estimates that there are approximately 12,971 
reporting institutions (respondents) and, on average, each respondent 
would need to retain 33 records annually, with each retention requiring 
approximately 1 minute (a total of 33 minutes or 0.55 hours per 
respondent per year). Thus, the total estimated annual time burden for 
all respondents is 7,134 hours (12,971 x 0.55 hours = 7,134). Assuming 
an average hourly cost for clerical work of $50.00, the average total 
yearly record retention cost of compliance for each respondent would be 
$27.50 ($50 x 0.55 hours). Based on these estimates, the total annual 
compliance cost for the estimated 12,971 reporting institutions would 
be approximately $356,702 (12,971 x $27.50).
    Rule 17f-1(g) does not require periodic collection, but it does 
require retention of records generated as a result of compliance with 
Rule 17f-1. Under Section 17(b) and (f) of the Act, the information 
required by Rule 17f-1(g) is available to the Commission and Federal 
bank regulators for examinations or collection purposes. Rule 0-4 of 
the Securities Exchange Act deems such information to be confidential.
    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.
    The public may view 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 by sending an 
email to: [email protected]. Comments must be submitted within 30 
days of this notice.

    Dated: November 16, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-28026 Filed 11-21-16; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 81, No. 225 / Tuesday, November 22, 2016 / Notices 83901

Fund to sell its shares to and redeem its SECURITIES AND EXCHANGE The Commission estimates that there
shares from a Fund of Funds, and to COMMISSION are approximately 12,971 reporting
engage in the accompanying in-kind institutions (respondents) and, on
transactions with the Fund of Funds.2 Submission for OMB Review; average, each respondent would need to
The purchase of Creation Units by a Comment Request retain 33 records annually, with each
Fund of Funds directly from a Fund will retention requiring approximately 1
Upon Written Request, Copies Available
be accomplished in accordance with the minute (a total of 33 minutes or 0.55
From: Securities and Exchange
policies of the Fund of Funds and will hours per respondent per year). Thus,
Commission Office of FOIA Services,
be based on the NAVs of the Funds. the total estimated annual time burden
9. Applicants also request relief to 100 F Street NE., Washington, DC
20549–2736. for all respondents is 7,134 hours
permit a Feeder Fund to acquire shares
(12,971 × 0.55 hours = 7,134). Assuming
of another registered investment Extension:
Rule 17f–1(g); SEC File No. 270–30, OMB an average hourly cost for clerical work
company managed by the Adviser
having substantially the same Control No. 3235–0290. of $50.00, the average total yearly record
investment objectives as the Feeder retention cost of compliance for each
Notice is hereby given that, pursuant
Fund (‘‘Master Fund’’) beyond the respondent would be $27.50 ($50 × 0.55
to the Paperwork Reduction Act of 1995
limitations in section 12(d)(1)(A) and hours). Based on these estimates, the
(44 U.S.C. 3501et seq.) (‘‘PRA’’), the
permit the Master Fund, and any total annual compliance cost for the
Securities and Exchange Commission
principal underwriter for the Master (‘‘Commission’’) has submitted to the estimated 12,971 reporting institutions
Fund, to sell shares of the Master Fund Office of Management and Budget would be approximately $356,702
to the Feeder Fund beyond the (‘‘OMB’’) a request for approval of (12,971 × $27.50).
limitations in section 12(d)(1)(B). extension of the previously approved Rule 17f–1(g) does not require
10. Section 6(c) of the Act permits the collection of information provided for in periodic collection, but it does require
Commission to exempt any persons or Rule 17f–1(g) (17 CFR 240.17f–1(g)), retention of records generated as a result
transactions from any provision of the under the Securities Exchange Act of of compliance with Rule 17f–1. Under
Act if such exemption is necessary or 1934 (15 U.S.C. 78a et seq.). Section 17(b) and (f) of the Act, the
appropriate in the public interest and Rule 17f–1(g) requires that all information required by Rule 17f–1(g) is
consistent with the protection of reporting institutions (i.e., every available to the Commission and
investors and the purposes fairly national securities exchange, member Federal bank regulators for
intended by the policy and provisions of thereof, registered securities association,
the Act. Section 12(d)(1)(J) of the Act examinations or collection purposes.
broker, dealer, municipal securities Rule 0–4 of the Securities Exchange Act
provides that the Commission may dealer, registered transfer agent,
exempt any person, security, or deems such information to be
registered clearing agency, participant confidential.
transaction, or any class or classes of therein, member of the Federal Reserve
persons, securities, or transactions, from System, and bank insured by the FDIC) An agency may not conduct or
any provision of section 12(d)(1) if the maintain and preserve a number of sponsor, and a person is not required to
exemption is consistent with the public documents related to their participation respond to, a collection of information
interest and the protection of investors. in the Lost and Stolen Securities under the PRA unless it displays a
Section 17(b) of the Act authorizes the Program (‘‘Program’’) under Rule 17f–1. currently valid OMB control number.
Commission to grant an order The following documents must be kept The public may view background
permitting a transaction otherwise in an easily accessible place for three documentation for this information
prohibited by section 17(a) if it finds years, according to paragraph (g): (1)
that (a) the terms of the proposed collection at the following Web site:
Copies of all reports of theft or loss www.reginfo.gov. Comments should be
transaction are fair and reasonable and (Form X–17F–1A) filed with the
do not involve overreaching on the part directed to (i) Desk Officer for the
Commission’s designee: (2) All Securities and Exchange Commission,
of any person concerned; (b) the agreements between reporting
proposed transaction is consistent with Office of Information and Regulatory
institutions regarding registration in the
the policies of each registered Affairs, Office of Management and
Program or other aspects of Rule 17f–1;
investment company involved; and (c) Budget, Room 10102, New Executive
and (3) all confirmations or other
the proposed transaction is consistent Office Building, Washington, DC 20503
information received from the
with the general purposes of the Act. Commission or its designee as a result or by sending an email to: Shagufta_
For the Commission, by the Division of of inquiry. Ahmed@omb.eop.gov; and (ii) Pamela
Investment Management, under delegated Reporting institutions utilize these Dyson, Director/Chief Information
authority. records and reports (a) to report missing, Officer, Securities and Exchange
Brent J. Fields, lost, stolen or counterfeit securities to Commission, c/o Remi Pavlik-Simon,
Secretary. the database, (b) to confirm inquiry of 100 F Street NE., Washington, DC 20549
[FR Doc. 2016–28029 Filed 11–21–16; 8:45 am] the database, and (c) to demonstrate or by sending an email to: PRA_
BILLING CODE 8011–01–P compliance with Rule 17f–1. The Mailbox@sec.gov. Comments must be
Commission and the reporting submitted within 30 days of this notice.
2 The requested relief would apply to direct sales institutions’ examining authorities Dated: November 16, 2016.
of shares in Creation Units by a Fund to a Fund of utilize these records to monitor the
sradovich on DSK3GMQ082PROD with NOTICES

Funds and redemptions of those shares. Applicants, Brent J. Fields,
moreover, are not seeking relief from section 17(a)
incidence of thefts and losses incurred
Secretary.
for, and the requested relief will not apply to, by reporting institutions and to
transactions where a Fund could be deemed an determine compliance with Rule 17f–1. [FR Doc. 2016–28026 Filed 11–21–16; 8:45 am]
Affiliated Person, or a Second-Tier Affiliate, of a If such records were not retained by BILLING CODE 8011–01–P
Fund of Funds because an Adviser or an entity
controlling, controlled by or under common control
reporting institutions, compliance with
with an Adviser provides investment advisory Rule 17f–1 could not be monitored
services to that Fund of Funds. effectively.

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Document Created: 2018-02-14 08:29:17
Document Modified: 2018-02-14 08:29:17

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		81 FR 83901