83 FR 62454 - Form N-1A; Correction
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 233 (December 4, 2018)
Federal Register Volume 83, Issue 233 (December 4, 2018)
| Page Range | 62454-62455 | |
| FR Document | 2018-26335 |
[Federal Register Volume 83, Number 233 (Tuesday, December 4, 2018)] [Rules and Regulations] [Pages 62454-62455] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-26335] [[Page 62454]] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION 17 CFR Parts 239 and 274 [Release Nos. 33-10577, IC-33308; File Nos. S7-08-15; S7-04-18] Form N-1A; Correction AGENCY: Securities and Exchange Commission. ACTION: Final rule; technical correction. ----------------------------------------------------------------------- SUMMARY: This document makes technical corrections to several amendments to Form N-1A, which the Commission adopted as part of three rulemakings: Investment Company Reporting Modernization, which was published in the Federal Register on November 18, 2016; Optional Internet Availability of Investment Company Shareholder Reports, which was published in the Federal Register on June 22, 2018; and Investment Company Liquidity Disclosure, which was published in the Federal Register on July 10, 2018. This document is being published to correct the paragraph designations that appeared in the amendatory instructions preceding certain of the form amendments that the Commission adopted as part of each of these rulemakings. This document makes technical corrections only to the paragraph designations that appear in the amendatory instructions preceding these form amendments. This document does not make any substantive changes (i.e., changes except corrections to typographical errors) to the text of the form amendments themselves. DATES: Effective December 4, 2018, except:The revisions to Item 27(d)(3) of Form N-1A are effective May 1, 2020; Item 27(d)(7) of Form N-1A (referenced in 17 CFR 239.15A and 274.11A) is effective January 1, 2019, through December 31, 2021; and Item 27(d)(7) is removed effective January 1, 2022. FOR FURTHER INFORMATION CONTACT: James Maclean, Senior Counsel, or Amanda Hollander Wagner, Branch Chief, Investment Company Regulation Office, at (202) 551-6792, Division of Investment Management, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-8549. SUPPLEMENTARY INFORMATION: We are making a technical amendment to Item 27 of Form N-1A under 17 CFR 239.15A and 274.11A. List of Subjects 17 CFR Part 239 Reporting and recordkeeping requirements, Securities. 17 CFR Part 274 Investment companies, Reporting and recordkeeping requirements, Securities. Statutory Authority and Text of Amendments For the reasons set out above, title 17, chapter II of the Code of Federal Regulations is amended as follows: PART 239--FORMS PRESCRIBED UNDER THE SECURITIES ACT OF 1933 0 1. The authority citation for part 239 continues to read in part as follows: Authority: 15 U.S.C. 77c, 77f, 77g, 77h, 77j, 77s, 77z-2, 77z-3, 77sss, 78c, 78l, 78m,78n, 78o(d), 78o-7 note, 78u-5, 78w(a), 78ll, 78mm, 80a-2(a), 80a-3, 80a-8, 80a-9, 80a-10, 80a-13, 80a-24, 80a-26, 80a-29, 80a-30, and 80a-37; and sec. 107, Pub. L. 112-106, 126 Stat. 312, unless otherwise noted. * * * * * PART 274--FORMS PRESCRIBED UNDER THE INVESTMENT COMPANY ACT OF 1940 0 2. The authority citation for part 274 continues to read in part as follows: Authority: 15 U.S.C. 77f, 77g, 77h, 77j, 77s, 78c(b), 78l, 78m, 78n, 78o(d), 80a-8, 80a-24, 80a-26, 80a-29, and Pub. L. 111-203, sec. 939A, 124 Stat. 1376 (2010), unless otherwise noted. * * * * * 0 3. Form N-1A (referenced in Sec. Sec. 239.15A and 274.11A), Item 27, is amended by: 0 a. Revising paragraph (d)(3); 0 b. Redesignating paragraph (d)(6) as (d)(6)(i); 0 c. Adding new paragraph (d)(6)(ii); 0 d. Adding paragraph (d)(7); and 0 e. Removing paragraph (d)(7). The revisions and additions read as follows: Note: The text of Form N-1A does not, and this amendment will not, appear in the Code of Federal Regulations. Form N-1A * * * * * Item 27. Financial Statements * * * * * (d) * * * (3) Statement Regarding Availability of Quarterly Portfolio Schedule. A statement that: (i) The Fund files its complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT; (ii) the Fund's Form N-PORT reports are available on the Commission's website at http://www.sec.gov; and (iii) if the Fund makes the information on Form N-PORT available to shareholders on its website or upon request, a description of how the information may be obtained from the Fund. * * * * * (6) Board Approvals and Liquidity Reviews. (i) Statement Regarding Basis for Approval of Investment Advisory Contract. * * * (ii) Statement Regarding Liquidity Risk Management Program. If the board of directors reviewed the Fund's liquidity risk management program pursuant to rule 22e-4(b)(2)(iii) of the Act [17 CFR 270.22e- 4(b)(2)(iii)] during the Fund's most recent fiscal half-year, briefly discuss the operation and effectiveness of the Fund's liquidity risk management program over the past year. Instruction If the board reviews the liquidity risk management program more frequently than annually, a fund may choose to include the discussion of the program's operation and effectiveness over the past year in one of either the fund's annual or semi-annual reports, but does not need to include it in both reports. (7) Front Cover Page or Beginning of Annual and Semi-Annual Report. Include on the front cover page or at the beginning of the annual or semi-annual report a statement to the following effect, if applicable: Beginning on [date], as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the Fund [or from your financial intermediary, such as a broker-dealer or bank]. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report. If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from the Fund [or your financial intermediary] electronically by [insert instructions]. You may elect to receive all future reports in paper free of charge. You can inform the Fund [or your financial intermediary] that you wish to continue receiving paper copies of your shareholder reports by [insert instructions]. Your election to receive reports in paper will apply to all funds held with [the fund complex/your financial intermediary]. * * * * * [[Page 62455]] Dated: November 29, 2018. Brent J. Fields, Secretary. [FR Doc. 2018-26335 Filed 12-3-18; 8:45 am] BILLING CODE 8011-01-P
![62454 Federal Register / Vol. 83, No. 233 / Tuesday, December 4, 2018 / Rules and Regulations
SECURITIES AND EXCHANGE 17 CFR Part 274 on its website or upon request, a
COMMISSION Investment companies, Reporting and description of how the information may
recordkeeping requirements, Securities. be obtained from the Fund.
17 CFR Parts 239 and 274 * * * * *
Statutory Authority and Text of (6) Board Approvals and Liquidity
[Release Nos. 33–10577, IC–33308; File Nos.
S7–08–15; S7–04–18] Amendments Reviews.
For the reasons set out above, title 17, (i) Statement Regarding Basis for
Form N–1A; Correction chapter II of the Code of Federal Approval of Investment Advisory
AGENCY: Securities and Exchange Regulations is amended as follows: Contract. * * *
Commission. (ii) Statement Regarding Liquidity
PART 239—FORMS PRESCRIBED Risk Management Program. If the board
ACTION: Final rule; technical correction. UNDER THE SECURITIES ACT OF 1933 of directors reviewed the Fund’s
SUMMARY: This document makes liquidity risk management program
■ 1. The authority citation for part 239 pursuant to rule 22e–4(b)(2)(iii) of the
technical corrections to several
continues to read in part as follows: Act [17 CFR 270.22e–4(b)(2)(iii)] during
amendments to Form N–1A, which the
Commission adopted as part of three Authority: 15 U.S.C. 77c, 77f, 77g, 77h, 77j, the Fund’s most recent fiscal half-year,
rulemakings: Investment Company 77s, 77z–2, 77z–3, 77sss, 78c, 78l, 78m,78n, briefly discuss the operation and
Reporting Modernization, which was 78o(d), 78o–7 note, 78u–5, 78w(a), 78ll, effectiveness of the Fund’s liquidity risk
78mm, 80a–2(a), 80a–3, 80a–8, 80a–9, 80a–
published in the Federal Register on management program over the past year.
10, 80a–13, 80a–24, 80a–26, 80a–29, 80a–30,
November 18, 2016; Optional Internet and 80a–37; and sec. 107, Pub. L. 112–106, Instruction
Availability of Investment Company 126 Stat. 312, unless otherwise noted.
Shareholder Reports, which was If the board reviews the liquidity risk
* * * * * management program more frequently
published in the Federal Register on
June 22, 2018; and Investment Company PART 274—FORMS PRESCRIBED than annually, a fund may choose to
Liquidity Disclosure, which was UNDER THE INVESTMENT COMPANY include the discussion of the program’s
published in the Federal Register on ACT OF 1940 operation and effectiveness over the
July 10, 2018. This document is being past year in one of either the fund’s
published to correct the paragraph ■ 2. The authority citation for part 274 annual or semi-annual reports, but does
designations that appeared in the continues to read in part as follows: not need to include it in both reports.
amendatory instructions preceding Authority: 15 U.S.C. 77f, 77g, 77h, 77j, 77s,
(7) Front Cover Page or Beginning of
certain of the form amendments that the 78c(b), 78l, 78m, 78n, 78o(d), 80a–8, 80a–24, Annual and Semi-Annual Report.
Commission adopted as part of each of 80a–26, 80a–29, and Pub. L. 111–203, sec. Include on the front cover page or at the
these rulemakings. This document 939A, 124 Stat. 1376 (2010), unless otherwise beginning of the annual or semi-annual
makes technical corrections only to the noted. report a statement to the following
paragraph designations that appear in * * * * * effect, if applicable:
the amendatory instructions preceding ■ 3. Form N–1A (referenced in Beginning on [date], as permitted by
these form amendments. This document §§ 239.15A and 274.11A), Item 27, is regulations adopted by the Securities
does not make any substantive changes amended by: and Exchange Commission, paper
(i.e., changes except corrections to ■ a. Revising paragraph (d)(3); copies of the Fund’s shareholder reports
typographical errors) to the text of the ■ b. Redesignating paragraph (d)(6) as like this one will no longer be sent by
form amendments themselves. (d)(6)(i); mail, unless you specifically request
DATES: Effective December 4, 2018, ■ c. Adding new paragraph (d)(6)(ii); paper copies of the reports from the
except: ■ d. Adding paragraph (d)(7); and Fund [or from your financial
• The revisions to Item 27(d)(3) of ■ e. Removing paragraph (d)(7). intermediary, such as a broker-dealer or
Form N–1A are effective May 1, 2020; The revisions and additions read as bank]. Instead, the reports will be made
• Item 27(d)(7) of Form N–1A follows: available on a website, and you will be
(referenced in 17 CFR 239.15A and Note: The text of Form N–1A does not, and notified by mail each time a report is
274.11A) is effective January 1, 2019, this amendment will not, appear in the Code posted and provided with a website link
through December 31, 2021; and of Federal Regulations. to access the report.
• Item 27(d)(7) is removed effective If you already elected to receive
January 1, 2022. Form N–1A shareholder reports electronically, you
FOR FURTHER INFORMATION CONTACT: will not be affected by this change and
* * * * *
James Maclean, Senior Counsel, or you need not take any action. You may
Amanda Hollander Wagner, Branch Item 27. Financial Statements elect to receive shareholder reports and
Chief, Investment Company Regulation other communications from the Fund
* * * * *
Office, at (202) 551–6792, Division of (d) * * * [or your financial intermediary]
Investment Management, Securities and (3) Statement Regarding Availability electronically by [insert instructions].
Exchange Commission, 100 F Street NE, of Quarterly Portfolio Schedule. A You may elect to receive all future
Washington, DC 20549–8549. statement that: (i) The Fund files its reports in paper free of charge. You can
SUPPLEMENTARY INFORMATION: We are complete schedule of portfolio holdings inform the Fund [or your financial
making a technical amendment to Item with the Commission for the first and intermediary] that you wish to continue
27 of Form N–1A under 17 CFR 239.15A third quarters of each fiscal year as an receiving paper copies of your
and 274.11A. exhibit to its reports on Form N–PORT; shareholder reports by [insert
List of Subjects (ii) the Fund’s Form N–PORT reports instructions]. Your election to receive
are available on the Commission’s reports in paper will apply to all funds
17 CFR Part 239 website at http://www.sec.gov; and (iii) held with [the fund complex/your
Reporting and recordkeeping if the Fund makes the information on financial intermediary].
requirements, Securities. Form N–PORT available to shareholders * * * * *
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![Federal Register / Vol. 83, No. 233 / Tuesday, December 4, 2018 / Rules and Regulations 62455
Dated: November 29, 2018. requirements, we can enter into finds there is good cause for dispensing
Brent J. Fields, agreements or contracts with alternative with such procedures because they are
Secretary. VR service providers under the same impracticable, unnecessary, or contrary
[FR Doc. 2018–26335 Filed 12–3–18; 8:45 am] conditions that apply to a State VR to the public interest.
BILLING CODE 8011–01–P
agency.4 In 1994, we created the We find that there is good cause
Alternate Participant Program, which under 5 U.S.C. 553(b)(B) to issue this
was intended to provide more VR regulatory change as a final rule without
service options to beneficiaries.5 These prior notice or public comment. We find
SOCIAL SECURITY ADMINISTRATION alternate VR service providers, referred
that prior notice and public comment
20 CFR Parts 404, 411 and 416 to as ‘‘alternate participants,’’ could be
are unnecessary because this final rule
organizations, institutions, individuals,
[Docket No. SSA–2017–0071] only removes from the CFR obsolete and
or other public or private agencies.
Our procedures changed when we unnecessary rules that do not affect any
RIN 0960–AI24 current beneficiaries.
published final rules implementing the
Removal of Alternate Participant Ticket Program 6 in 2001. The Ticket In addition, we find good cause for
Program Program, authorized by the Ticket to dispensing with the 30-day delay in the
Work and Work Incentives effective date of this rule provided for
AGENCY: Social Security Administration. Improvement Act of 1999 (TWWIIA),7 in 5 U.S.C. 553(d)(3). For the reasons
ACTION: Final rule. expanded the universe of service stated above, we find it unnecessary to
providers available to beneficiaries with delay the effective date of the changes
SUMMARY: We are removing from the disabilities who are seeking we are making in this final rule.
Code of Federal Regulations (CFR) our employment services, VR services, and Accordingly, we are making them
‘‘Alternate Participant Program’’ rules other support services. Under the Ticket effective upon publication.
because they are obsolete. We are Program, beneficiaries have the option
removing these rules in accordance with of obtaining services from providers Executive Order 12866 as
the requirements of Executive Order known as employment networks (ENs). Supplemented by Executive Order
(E.O.) 13777. As we implemented the Ticket Program 13563
DATES: Effective Date: December 4, 2018. and began using ENs, we phased out the
We consulted with the Office of
FOR FURTHER INFORMATION CONTACT: Cara
use of alternate participants, as
Management and Budget (OMB) and
Caplan, Social Security Administration, authorized by section 101(d)(5) of the
determined that this final rule does not
6401 Security Boulevard, Baltimore, MD TWWIIA.8
Under current rules, we cannot pay an meet the criteria for a significant
21235–6401, 410–966–0586. For regulatory action under E.O. 12866, as
alternate participant for services
information on eligibility or filing for supplemented by E.O. 13563. Thus,
provided after December 31, 2003.
benefits, call our national toll-free OMB did not review the final rule.
There are no outstanding Alternate
number, 1–800–772–1213 or TTY
Participant Program payments and no Executive Order 13132 (Federalism)
1–800–325–0778, or visit our internet
entity could become eligible for these
site, Social Security Online, at http://
payments in the future. Because we no We analyzed this final rule in
www.socialsecurity.gov.
longer use the Alternate Participant accordance with the principles and
SUPPLEMENTARY INFORMATION: We are Program, the rules associated with that criteria established by Executive Order
removing our Alternate Participant program are obsolete and no longer 13132 and determined that the rule will
Program rules in accordance with E.O. necessary. In alignment with this rule not have sufficient Federalism
13777 (‘‘Enforcing the Regulatory removal, we are also removing implications to warrant the preparation
Reform Agenda’’).1 The E.O. requires references to the program found in of a Federalism assessment. We also
agencies to identify rules that, among Subparts A and E of 20 CFR part 411, determined that this rule will not
other things, are outdated or sections in Subparts A and V of 20 CFR preempt any State law or State
unnecessary, and repeal, replace, or part 404, and sections in Subpart A and regulation or affect the States’ abilities
modify them, consistent with applicable V of 20 CFR part 416. to discharge traditional State
law. These rules, found in 20 CFR governmental functions.
Chapter III Part 411, Subpart J, describe Regulatory Procedures
how the Alternate Participant Program Justification for Issuing a Final Rule E.O. 13771
was affected by the Ticket to Work and Without Notice and Comment This regulation codifies legislative
Self-Sufficiency Program (Ticket We follow the Administrative changes that already took place.
Program),2 and procedures related to Procedure Act (APA) rulemaking Accordingly, the regulation does not
phasing it out. procedures specified in 5 U.S.C. 553 have any financial impact on the public,
Under the Social Security Act (Act), when we develop regulations. and as such is an exempt regulatory
the Commissioner of Social Security is Generally, the APA requires that an action under E.O. 13771.
authorized to reimburse States for agency provide prior notice and
reasonable and necessary costs of opportunity for public comment before Regulatory Flexibility Act
vocational rehabilitation (VR) services issuing a final rule. The APA provides
furnished to certain disabled We certify that this final rule will not
exceptions to its notice and public have a significant economic impact on
individuals under a State VR plan that comment procedures when an agency
meets specific requirements.3 If a State a substantial number of small entities
is unwilling to participate or does not 4 Section
because there are no current
222(d)(2) of the Act, 42 U.S.C. 422(d)(2).
have a plan meeting the specified 5 59
participants of the Alternate Participant
FR 11899 (March 15, 1994).
6 66 FR 67369 (December 28, 2001). Program. Therefore, the Regulatory
1 82 FR 12285 (March 1, 2017). 7 Public Law 106–170, 113 Stat. 1860. Flexibility Act, as amended, does not
2 66 FR 67369 (December 28, 2001). 8 Section 105(d)(5) of Public Law 106–170, 113 require us to prepare a regulatory
3 Section 222(d)(1) of the Act, 42 U.S.C. 422(d)(1). Stat. 1860, 1877. flexibility analysis.
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Document Created: 2018-12-04 00:43:00
Document Modified: 2018-12-04 00:43:00
| 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 | Rules and Regulations | |
| Action | Final rule; technical correction. | |
| Dates | Effective December 4, 2018, except: | |
| Contact | James Maclean, Senior Counsel, or Amanda Hollander Wagner, Branch Chief, Investment Company Regulation Office, at (202) 551-6792, Division of Investment Management, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-8549. | |
| FR Citation | 83 FR 62454 | |
| CFR Citation | 17
CFR
239 17 CFR 274 | |
| CFR Associated | Reporting and Recordkeeping Requirements; Securities and Investment Companies |
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