82 FR 20404 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 82 (May 1, 2017)

Page Range		20404-20404
FR Document		2017-08762
Federal Register, Volume 82 Issue 82 (Monday, May 1, 2017)
[Federal Register Volume 82, Number 82 (Monday, May 1, 2017)]
[Notices]
[Page 20404]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-08762]


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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:
    Form N-17D-1, SEC File No. 270-231, OMB Control No. 3235-0229.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501-3520), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget a request for extension of the previously approved 
collection of information discussed below.
    Section 17(d) (15 U.S.C. 80a-17(d)) of the Investment Company Act 
of 1940 (``Act'') authorizes the Commission to adopt rules that protect 
funds and their security holders from overreaching by affiliated 
persons when the fund and the affiliated person participate in any 
joint enterprise or other joint arrangement or profit-sharing plan. 
Rule 17d-1 under the Act (17 CFR 270.17d-1) prohibits funds and their 
affiliated persons from participating in a joint enterprise, unless an 
application regarding the transaction has been filed with and approved 
by the Commission. Paragraph (d)(3) of the rule provides an exemption 
from this requirement for any loan or advance of credit to, or 
acquisition of securities or other property of, a small business 
concern, or any agreement to do any of the foregoing (``investments'') 
made by a small business investment company (``SBIC'') and an 
affiliated bank, provided that reports about the investments are made 
on forms the Commission may prescribe. Rule 17d-2 (17 CFR 270.17d-2) 
designates Form N-17D-1 (17 CFR 274.200) (``form'') as the form for 
reports required by rule 17d-1.
    SBICs and their affiliated banks use form N-17D-1 to report any 
contemporaneous investments in a small business concern. The form 
provides shareholders and persons seeking to make an informed decision 
about investing in an SBIC an opportunity to learn about transactions 
of the SBIC that have the potential for self dealing and other forms of 
overreaching by affiliated persons at the expense of shareholders.
    Form N-17D-1 requires SBICs and their affiliated banks to report 
identifying information about the small business concern and the 
affiliated bank. The report must include, among other things, the 
SBIC's and affiliated bank's outstanding investments in the small 
business concern, the use of the proceeds of the investments made 
during the reporting period, any changes in the nature and amount of 
the affiliated bank's investment, the name of any affiliated person of 
the SBIC or the affiliated bank (or any affiliated person of the 
affiliated person of the SBIC or the affiliated bank) who has any 
interest in the transactions, the basis of the affiliation, the nature 
of the interest, and the consideration the affiliated person has 
received or will receive.
    Up to two SBICs may file the form in any year.\1\ The Commission 
estimates the burden of filling out the form is approximately one hour 
per response and would likely be completed by an accountant or other 
professional. Based on past filings, the Commission estimates that no 
more than one SBIC is likely to use the form each year. Most of the 
information requested on the form should be readily available to the 
SBIC or the affiliated bank in records kept in the ordinary course of 
business, or with respect to the SBIC, pursuant to the recordkeeping 
requirements under the Act. Commission staff estimates that it should 
take approximately one hour for an accountant or other professional to 
complete the form.\2\ The estimated total annual burden of filling out 
the form is 1 hour, at an estimated total annual cost of $201.\3\ The 
Commission will not keep responses on Form N-17D-1 confidential.
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    \1\ As of December 31, 2016, two SBICs were registered with the 
Commission.
    \2\ This estimate of hours is based on past conversations with 
representatives of SBICs and accountants that have filed the form.
    \3\ Commission staff estimates that the annual burden would be 
incurred by a senior accountant with an average hourly wage rate of 
$201 per hour. This wage is from SIFMA's Management & Professional 
Earnings in the Securities Industry 2013, modified to account for an 
1800-hour work-year and inflation, and multiplied by 5.35 to account 
for bonuses, firm size, employee benefits, and overhead.
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    The estimate of average burden hours is made solely for the 
purposes of the Paperwork Reduction Act, and is not derived from a 
comprehensive or even a representative survey or study of the costs of 
Commission rules. 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.
    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: April 25, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-08762 Filed 4-28-17; 8:45 am]
 BILLING CODE 8011-01-P
20404 Federal Register / Vol. 82, No. 82 / Monday, May 1, 2017 / Notices

The public may view the background concern, or any agreement to do any of 1 hour, at an estimated total annual cost
documentation for this information the foregoing (‘‘investments’’) made by a of $201.3 The Commission will not keep
collection at the following Web site, small business investment company responses on Form N–17D–1
www.reginfo.gov. Comments should be (‘‘SBIC’’) and an affiliated bank, confidential.
directed to: (i) Desk Officer for the provided that reports about the The estimate of average burden hours
Securities and Exchange Commission, investments are made on forms the is made solely for the purposes of the
Office of Information and Regulatory Commission may prescribe. Rule 17d–2 Paperwork Reduction Act, and is not
Affairs, Office of Management and (17 CFR 270.17d–2) designates Form N– derived from a comprehensive or even
Budget, Room 10102, New Executive 17D–1 (17 CFR 274.200) (‘‘form’’) as the a representative survey or study of the
Office Building, Washington, DC 20503, form for reports required by rule 17d– costs of Commission rules. An agency
or by sending an email to: Shagufta_ 1. may not conduct or sponsor, and a
Ahmed@omb.eop.gov; and (ii) Pamela SBICs and their affiliated banks use person is not required to respond to, a
Dyson, Director/Chief Information form N–17D–1 to report any collection of information unless it
Officer, Securities and Exchange contemporaneous investments in a displays a currently valid control
Commission, c/o Remi Pavlik-Simon, small business concern. The form number.
100 F Street NE., Washington, DC 20549 provides shareholders and persons The public may view the background
or send an email to: PRA_Mailbox@ seeking to make an informed decision documentation for this information
sec.gov. Comments must be submitted to about investing in an SBIC an collection at the following Web site,
OMB within 30 days of this notice. opportunity to learn about transactions www.reginfo.gov. Comments should be
of the SBIC that have the potential for directed to: (i) Desk Officer for the
Dated: April 25, 2017.
self dealing and other forms of Securities and Exchange Commission,
Eduardo Aleman, Office of Information and Regulatory
overreaching by affiliated persons at the
Assistant Secretary. Affairs, Office of Management and
expense of shareholders.
[FR Doc. 2017–08766 Filed 4–28–17; 8:45 am]
Form N–17D–1 requires SBICs and Budget, Room 10102, New Executive
BILLING CODE 8011–01–P their affiliated banks to report Office Building, Washington, DC 20503,
identifying information about the small or by sending an email to: Shagufta_
business concern and the affiliated Ahmed@omb.eop.gov; and (ii) Pamela
SECURITIES AND EXCHANGE Dyson, Director/Chief Information
bank. The report must include, among
COMMISSION Officer, Securities and Exchange
other things, the SBIC’s and affiliated
bank’s outstanding investments in the Commission, c/o Remi Pavlik-Simon,
Submission for OMB Review; 100 F Street NE., Washington, DC 20549
Comment Request small business concern, the use of the
proceeds of the investments made or send an email to: PRA_Mailbox@
Upon Written Request, Copies Available during the reporting period, any sec.gov. Comments must be submitted to
From: Securities and Exchange changes in the nature and amount of the OMB within 30 days of this notice.
Commission, Office of FOIA Services, affiliated bank’s investment, the name of Dated: April 25, 2017.
100 F Street NE., Washington, DC any affiliated person of the SBIC or the Eduardo A. Aleman,
20549–2736. affiliated bank (or any affiliated person Assistant Secretary.
Extension: of the affiliated person of the SBIC or [FR Doc. 2017–08762 Filed 4–28–17; 8:45 am]
Form N–17D–1, SEC File No. 270–231, the affiliated bank) who has any interest BILLING CODE 8011–01–P
OMB Control No. 3235–0229. in the transactions, the basis of the
Notice is hereby given that, pursuant affiliation, the nature of the interest, and
to the Paperwork Reduction Act of 1995 the consideration the affiliated person SECURITIES AND EXCHANGE
(44 U.S.C. 3501–3520), the Securities has received or will receive. COMMISSION
and Exchange Commission Up to two SBICs may file the form in
[Release No. 34–80520; File No. SR–FICC–
(‘‘Commission’’) has submitted to the any year.1 The Commission estimates
2017–802]
Office of Management and Budget a the burden of filling out the form is
request for extension of the previously approximately one hour per response Self-Regulatory Organizations; Fixed
approved collection of information and would likely be completed by an Income Clearing Corporation; Notice of
discussed below. accountant or other professional. Based Extension of Review Period of
Section 17(d) (15 U.S.C. 80a–17(d)) of on past filings, the Commission Advance Notice To Implement the
the Investment Company Act of 1940 estimates that no more than one SBIC is Capped Contingency Liquidity Facility
(‘‘Act’’) authorizes the Commission to likely to use the form each year. Most in the Government Securities Division
adopt rules that protect funds and their of the information requested on the form Rulebook
security holders from overreaching by should be readily available to the SBIC
affiliated persons when the fund and the or the affiliated bank in records kept in April 25, 2017.
affiliated person participate in any joint the ordinary course of business, or with On March 1, 2017, Fixed Income
enterprise or other joint arrangement or respect to the SBIC, pursuant to the Clearing Corporation (‘‘FICC’’) filed
profit-sharing plan. Rule 17d–1 under recordkeeping requirements under the with the Securities and Exchange
the Act (17 CFR 270.17d–1) prohibits Act. Commission staff estimates that it Commission (‘‘Commission’’) advance
funds and their affiliated persons from should take approximately one hour for notice SR–FICC–2017–802 (‘‘Advance
participating in a joint enterprise, unless an accountant or other professional to
srobinson on DSK5SPTVN1PROD with NOTICES

3 Commission staff estimates that the annual
an application regarding the transaction complete the form.2 The estimated total
burden would be incurred by a senior accountant
has been filed with and approved by the annual burden of filling out the form is with an average hourly wage rate of $201 per hour.
Commission. Paragraph (d)(3) of the rule This wage is from SIFMA’s Management &
1 As of December 31, 2016, two SBICs were
provides an exemption from this Professional Earnings in the Securities Industry
registered with the Commission. 2013, modified to account for an 1800-hour work-
requirement for any loan or advance of 2 This estimate of hours is based on past year and inflation, and multiplied by 5.35 to
credit to, or acquisition of securities or conversations with representatives of SBICs and account for bonuses, firm size, employee benefits,
other property of, a small business accountants that have filed the form. and overhead.

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Document Created: 2017-04-29 03:16:25
Document Modified: 2017-04-29 03:16:25
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		82 FR 20404