82 FR 54422 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 221 (November 17, 2017)

Page Range		54422-54423
FR Document		2017-24945
Federal Register, Volume 82 Issue 221 (Friday, November 17, 2017)
[Federal Register Volume 82, Number 221 (Friday, November 17, 2017)]
[Notices]
[Pages 54422-54423]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-24945]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copy Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 
20549-2736

Extension:
    Form N-CSR, SEC File No. 270-512, OMB Control No. 3235-0570

    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'') is soliciting comments on the 
collection of information

[[Page 54423]]

summarized below. The Commission plans to submit this existing 
collection of information to the Office of Management and Budget 
(``OMB'') for extension and approval.
    Form N-CSR (17 CFR 249.331 and 274.128) is a combined reporting 
form used by registered management investment companies (``funds'') to 
file certified shareholder reports under the Investment Company Act of 
1940 (15 U.S.C. 80a-1 et seq.) (``Investment Company Act'') and the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange 
Act''). Specifically, Form N-CSR is to be used for reports under 
section 30(b)(2) of the Investment Company Act (15 U.S.C. 80a-29(b)(2)) 
and section 13(a) or 15(d) of the Exchange Act (15 U.S.C. 78m(a) and 
78o(d)), filed pursuant to rule 30b2-1(a) under the Investment Company 
Act (17 CFR 270.30b2-1(a)). Reports on Form N-CSR are to be filed with 
the Securities and Exchange Commission (``Commission'') no later than 
10 days after the transmission to stockholders of any report that is 
required to be transmitted to stockholders under rule 30e-1 under the 
Investment Company Act (17 CFR 270.30e-1). The information filed with 
the Commission permits the verification of compliance with securities 
law requirements and assures the public availability and dissemination 
of the information.
    The current total annual burden hour inventory for Form N-CSR is 
172,899 hours.\1\ The hour burden estimates for preparing and filing 
reports on Form N-CSR are based on the Commission's experience with the 
contents of the form. The number of burden hours may vary depending on, 
among other things, the complexity of the filing and whether 
preparation of the reports is performed by internal staff or outside 
counsel.
---------------------------------------------------------------------------

    \1\ This estimate is based on the following calculations: 
172,899 hours = (11,856 management investment companies x 14.52 hour 
burden per fund per year) + 750 additional hours for closed-end 
funds.
---------------------------------------------------------------------------

    The Commission's new estimate of burden hours that will be imposed 
by Form N-CSR is as follows:

                  Hour Burden for Reports on Form N-CSR
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Number of funds.............................................  \2\ 11,856
Number of filings per fund per year.........................           2
Hour burden per fund per filing.............................        7.31
Hour burden per fund per year (7.31 hours per filing x 2           14.62
 filings per year)..........................................
Additional aggregate annual burden for closed-end funds.....     \3\ 750
                                                             -----------
  Total annual hour burden for all funds....................         \4\
                                                                 174,085
------------------------------------------------------------------------

    In total, the Commission estimates it will take 174,085 burden 
hours per year for all funds to prepare and file reports on Form N-CSR. 
Based on the Commission's estimate of 174,085 burden hours and an 
estimated wage rate of approximately $324 per hour,\5\ the total 
internal annual cost to registrants of the hour burden for complying 
with Form N-CSR requirements is approximately $56 million.\6\
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    \2\ This estimate is based on the following calculation: 11,856 
management investment companies = (1,594 exchange-traded funds--
eight organized as unit investment trusts + 750 closed-end funds + 
481 money market funds + 9,039 other mutual funds).
    \3\ This estimate is based on the following calculation: 750 
hours = (750 closed-end funds x 1 hour per closed-end fund).
    \4\ This estimate is based on the following calculation: 174,085 
hours = 750 hours + (11,856 funds x 14.62 burden hours per fund per 
year).
    \5\ The Commission's estimate concerning the wage rate is based 
on salary information for the securities industry compiled by the 
Securities Industry and Financial Markets Association. The estimated 
wage figure is based on published rates for compliance attorneys and 
senior programmers, modified to account for an 1,800-hour work year 
and inflation; multiplied by 5.35 to account for bonuses, firm size, 
employee benefits, and overhead; and adjusted to account for the 
effects of inflation, yielding effective hourly rates of $340 and 
$308, respectively. See Securities Industry and Financial Markets 
Association, Report on Management & Professional Earnings in the 
Securities Industry 2013. We estimate that compliance attorneys and 
senior programmers would divide their time equally, yielding an 
estimated hourly wage rate of $324. ($340 per hour for compliance 
attorneys + $308 per hour for senior programmers) / 2 = $324 per 
hour.
    \6\ 174,085 hours x $324 per hour = $56,403,540 per year.
---------------------------------------------------------------------------

    Estimates of average burden hours and costs are made solely for 
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. Compliance with the information collection 
requirements of Form N-CSR is mandatory. Responses to the collection of 
information 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 collection of 
information is necessary for the proper performance of the functions of 
the Commission, including whether the information has practical 
utility; (b) the accuracy of the Commission'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, 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].
    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: November 14, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-24945 Filed 11-16-17; 8:45 am]
 BILLING CODE 8011-01-P
54422 Federal Register / Vol. 82, No. 221 / Friday, November 17, 2017 / Notices

attachment/enclosure ‘‘E’’ = Copy with
attachment/enclosure ‘‘N’’ = No copy

OFFICE ..................................... NMSS ...................................... N NMSS ...................................... OCIO ........................................

NAME ........................................ Lymari Sepulveda Hipolito Gonzalez

DATE ........................................ 10/03/2017 10/3/2017 11/13/2017

OFFICIAL RECORD COPY Service request, the request’s acceptance Competitive Product List and Notice of
[FR Doc. 2017–24987 Filed 11–16–17; 8:45 am] date, and the authority cited by the Filing Materials Under Seal; Filing
BILLING CODE 7590–01–P
Postal Service for each request. For each Acceptance Date: November 9, 2017;
request, the Commission appoints an Filing Authority: 39 U.S.C. 3642 and 39
officer of the Commission to represent CFR 3020.30 et seq.; Public
POSTAL REGULATORY COMMISSION the interests of the general public in the Representative: Timothy J. Schwuchow;
proceeding, pursuant to 39 U.S.C. 505 Comments Due: November 20, 2017.
[Docket Nos. CP2017–55; MC2018–22 and (Public Representative). Section II also 4. Docket No(s).: MC2018–24 and
CP2018–44; MC2018–23 and CP2018–45; establishes comment deadline(s) CP2018–46; Filing Title: USPS Request
MC2018–24 and CP2018–46; CP2018–47] pertaining to each request. to Add Priority Mail Express, Priority
The public portions of the Postal Mail & First-Class Package Service
New Postal Products Service’s request(s) can be accessed via Contract 26 to Competitive Product List
AGENCY: Postal Regulatory Commission. the Commission’s Web site (http:// and Notice of Filing Materials Under
ACTION: Notice. www.prc.gov). Non-public portions of Seal; Filing Acceptance Date: November
the Postal Service’s request(s), if any, 9, 2017; Filing Authority: 39 U.S.C. 3642
SUMMARY: The Commission is noticing a can be accessed through compliance and 39 CFR 3020.30 et seq.; Public
recent Postal Service filing for the with the requirements of 39 CFR Representative: Timothy J. Schwuchow;
Commission’s consideration concerning 3007.40. Comments Due: November 20, 2017.
negotiated service agreements. This The Commission invites comments on 5. Docket No(s).: CP2018–47; Filing
notice informs the public of the filing, whether the Postal Service’s request(s) Title: Notice of United States Postal
invites public comment, and takes other in the captioned docket(s) are consistent Service of Filing a Functionally
administrative steps. with the policies of title 39. For Equivalent Global Expedited Package
DATES: Comments are due: November request(s) that the Postal Service states Services 9 Negotiated Service
20, 2017. concern market dominant product(s), Agreement and Application for Non-
ADDRESSES: Submit comments
applicable statutory and regulatory Public Treatment of Materials Filed
electronically via the Commission’s requirements include 39 U.S.C. 3622, 39 Under Seal; Filing Acceptance Date:
Filing Online system at http:// U.S.C. 3642, 39 CFR part 3010, and 39 November 9, 2017; Filing Authority: 39
www.prc.gov. Those who cannot submit CFR part 3020, subpart B. For request(s) CFR 3015.5; Public Representative:
comments electronically should contact that the Postal Service states concern Katalin K. Clendenin; Comments Due:
the person identified in the FOR FURTHER competitive product(s), applicable November 20, 2017.
INFORMATION CONTACT section by
statutory and regulatory requirements This notice will be published in the
telephone for advice on filing include 39 U.S.C. 3632, 39 U.S.C. 3633, Federal Register.
alternatives. 39 U.S.C. 3642, 39 CFR part 3015, and
Stacy L. Ruble,
39 CFR part 3020, subpart B. Comment
FOR FURTHER INFORMATION CONTACT: Secretary.
deadline(s) for each request appear in
David A. Trissell, General Counsel, at section II. [FR Doc. 2017–24906 Filed 11–16–17; 8:45 am]
202–789–6820. BILLING CODE 7710–FW–P
II. Docketed Proceeding(s)
SUPPLEMENTARY INFORMATION:
1. Docket No(s).: CP2017–55; Filing
Table of Contents Title: USPS Notice of Change in Prices SECURITIES AND EXCHANGE
I. Introduction Pursuant to Amendment to Priority Mail COMMISSION
II. Docketed Proceeding(s) Contract 263; Filing Acceptance Date:
November 9, 2017; Filing Authority: 39 Proposed Collection; Comment
I. Introduction Request
CFR 3015.5; Public Representative:
The Commission gives notice that the Katalin K. Clendenin; Comments Due:
Postal Service filed request(s) for the Upon Written Request, Copy Available
November 20, 2017. From: Securities and Exchange
Commission to consider matters related 2. Docket No(s).: MC2018–22 and
to negotiated service agreement(s). The Commission, Office of FOIA Services,
CP2018–44; Filing Title: USPS Request
request(s) may propose the addition or 100 F Street NE., Washington, DC
to Add Priority Mail Contract 373 to
removal of a negotiated service 20549–2736
Competitive Product List and Notice of
agreement from the market dominant or Filing Materials Under Seal; Filing Extension:
the competitive product list, or the Form N–CSR, SEC File No. 270–512, OMB
sradovich on DSK3GMQ082PROD with NOTICES

Acceptance Date: November 9, 2017;
modification of an existing product Control No. 3235–0570
Filing Authority: 39 U.S.C. 3642 and 39
currently appearing on the market CFR 3020.30 et seq.; Public Notice is hereby given that, pursuant
dominant or the competitive product Representative: Timothy J. Schwuchow; to the Paperwork Reduction Act of 1995
list. Comments Due: November 20, 2017. (44 U.S.C. 3501 et seq.), the Securities
Section II identifies the docket 3. Docket No(s).: MC2018–23 and and Exchange Commission (the
number(s) associated with each Postal CP2018–45; Filing Title: USPS Request ‘‘Commission’’) is soliciting comments
Service request, the title of each Postal to Add Priority Mail Contract 374 to on the collection of information

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Federal Register / Vol. 82, No. 221 / Friday, November 17, 2017 / Notices 54423

summarized below. The Commission HOUR BURDEN FOR REPORTS ON enhance the quality, utility, and clarity
plans to submit this existing collection FORM N–CSR—Continued of the information collected; and (d)
of information to the Office of ways to minimize the burden of the
Management and Budget (‘‘OMB’’) for Total annual hour burden for collection of information on
all funds ............................... 4 174,085
extension and approval. respondents, including through the use
Form N–CSR (17 CFR 249.331 and of automated collection techniques or
274.128) is a combined reporting form In total, the Commission estimates it other forms of information technology.
used by registered management will take 174,085 burden hours per year Consideration will be given to
investment companies (‘‘funds’’) to file for all funds to prepare and file reports comments and suggestions submitted in
certified shareholder reports under the on Form N–CSR. Based on the writing within 60 days of this
Investment Company Act of 1940 (15 Commission’s estimate of 174,085 publication.
U.S.C. 80a–1 et seq.) (‘‘Investment burden hours and an estimated wage Please direct your written comments
Company Act’’) and the Securities rate of approximately $324 per hour,5 to Pamela Dyson, Chief Information
Exchange Act of 1934 (15 U.S.C. 78a et the total internal annual cost to Officer, Securities and Exchange
registrants of the hour burden for Commission, c/o Remi Pavlik-Simon,
seq.) (‘‘Exchange Act’’). Specifically,
complying with Form N–CSR 100 F Street NE., Washington, DC
Form N–CSR is to be used for reports
requirements is approximately $56 20549; or send an email to: PRA_
under section 30(b)(2) of the Investment
million.6 Mailbox@sec.gov.
Company Act (15 U.S.C. 80a–29(b)(2)) Estimates of average burden hours
and section 13(a) or 15(d) of the Please direct your written comments
and costs are made solely for purposes to Pamela Dyson, Director/Chief
Exchange Act (15 U.S.C. 78m(a) and of the Paperwork Reduction Act, and are
78o(d)), filed pursuant to rule 30b2–1(a) Information Officer, Securities and
not derived from a comprehensive or Exchange Commission, C/O Remi
under the Investment Company Act (17 even representative survey or study of
CFR 270.30b2–1(a)). Reports on Form Pavlik-Simon, 100 F Street NE.,
the costs of Commission rules and Washington, DC 20549; or send an email
N–CSR are to be filed with the forms. Compliance with the information
Securities and Exchange Commission to: PRA_Mailbox@sec.gov.
collection requirements of Form N–CSR
(‘‘Commission’’) no later than 10 days is mandatory. Responses to the Dated: November 14, 2017.
after the transmission to stockholders of collection of information will not be Eduardo A. Aleman,
any report that is required to be kept confidential. An agency may not Assistant Secretary.
transmitted to stockholders under rule conduct or sponsor, and a person is not [FR Doc. 2017–24945 Filed 11–16–17; 8:45 am]
30e–1 under the Investment Company required to respond to a collection of BILLING CODE 8011–01–P
Act (17 CFR 270.30e–1). The information unless it displays a
information filed with the Commission currently valid OMB control number.
permits the verification of compliance Written comments are invited on: (a) SECURITIES AND EXCHANGE
with securities law requirements and Whether the collection of information is COMMISSION
assures the public availability and necessary for the proper performance of [Release No. 34–82063; File No. SR–ICEEU–
dissemination of the information. the functions of the Commission, 2017–011]
The current total annual burden hour including whether the information has
inventory for Form N–CSR is 172,899 practical utility; (b) the accuracy of the Self-Regulatory Organizations; ICE
hours.1 The hour burden estimates for Commission’s estimate of the burden of Clear Europe Limited; Notice of Filing
preparing and filing reports on Form N– the collection of information; (c) ways to of Proposed Rule Change, Security
CSR are based on the Commission’s Based Swap Submission, or Advance
experience with the contents of the 2 This estimate is based on the following Notice Relating to Amendments to the
form. The number of burden hours may calculation: 11,856 management investment ICE Clear Europe Collateral and
vary depending on, among other things, companies = (1,594 exchange-traded funds—eight Haircut Policy
the complexity of the filing and whether organized as unit investment trusts + 750 closed-
end funds + 481 money market funds + 9,039 other November 13, 2017.
preparation of the reports is performed mutual funds).
by internal staff or outside counsel. 3 This estimate is based on the following
Pursuant to Section 19(b)(1) of the
The Commission’s new estimate of calculation: 750 hours = (750 closed-end funds × 1 Securities Exchange Act of 1934
burden hours that will be imposed by hour per closed-end fund). (‘‘Act’’),1 and Rule 19b–4 thereunder,2
Form N–CSR is as follows:
4 This estimate is based on the following
notice is hereby given that on November
calculation: 174,085 hours = 750 hours + (11,856 2, 2017, ICE Clear Europe Limited (‘‘ICE
funds × 14.62 burden hours per fund per year).
HOUR BURDEN FOR REPORTS ON 5 The Commission’s estimate concerning the wage
Clear Europe’’) filed with the Securities
FORM N–CSR rate is based on salary information for the securities and Exchange Commission
industry compiled by the Securities Industry and (‘‘Commission’’) the proposed rule
Number of funds ......................... 2 11,856
Financial Markets Association. The estimated wage changes described in Items I, II, and III
figure is based on published rates for compliance below, which Items have been primarily
Number of filings per fund per attorneys and senior programmers, modified to
year ......................................... 2 account for an 1,800-hour work year and inflation; prepared by ICE Clear Europe. The
Hour burden per fund per filing .. 7.31 multiplied by 5.35 to account for bonuses, firm size, Commission is publishing this notice to
Hour burden per fund per year employee benefits, and overhead; and adjusted to solicit comments on the proposed rule
(7.31 hours per filing × 2 fil- account for the effects of inflation, yielding effective change from interested persons.
ings per year) .......................... 14.62 hourly rates of $340 and $308, respectively. See
Securities Industry and Financial Markets I. Clearing Agency’s Statement of the
sradovich on DSK3GMQ082PROD with NOTICES

Additional aggregate annual bur-
3 750
Association, Report on Management & Professional Terms of Substance of the Proposed
den for closed-end funds ........ Earnings in the Securities Industry 2013. We
estimate that compliance attorneys and senior Rule Change
programmers would divide their time equally, The principal purpose of the changes
1 This estimate is based on the following yielding an estimated hourly wage rate of $324.
calculations: 172,899 hours = (11,856 management ($340 per hour for compliance attorneys + $308 per is to modify the ICE Clear Europe
investment companies × 14.52 hour burden per hour for senior programmers) ÷ 2 = $324 per hour.
fund per year) + 750 additional hours for closed- 6 174,085 hours × $324 per hour = $56,403,540 1 15 U.S.C. 78s(b)(1).
end funds. per year. 2 17 CFR 240.19b–4.

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Document Created: 2017-11-17 05:15:20
Document Modified: 2017-11-17 05:15:20
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 54422