[Federal Register Volume 79, Number 141 (Wednesday, July 23, 2014)]
[Notices]
[Page 42844]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-17282]
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SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Securities and Exchange Commission, Office of FOIA Services, 100 F
Street NE., Washington, DC 20549-2736.
Extension:
Rule 34b-1; SEC File No. 270-305, OMB Control No. 3235-0346.
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 summarized below. The Commission plans to
submit this existing collection of information to the Office of
Management and Budget for extension and approval.
Rule 34b-1 under the Investment Company Act (17 CFR 270.34b-1)
governs sales material that accompanies or follows the delivery of a
statutory prospectus (``sales literature''). Rule 34b-1 deems to be
materially misleading any investment company (``fund'') sales
literature required to be filed with the Securities and Exchange
Commission (``Commission'') by Section 24(b) of the Investment Company
Act (15 U.S.C. 80a-24(b)) that includes performance data, unless the
sales literature also includes the appropriate uniformly computed data
and the legend disclosure required in investment company advertisements
by rule 482 under the Securities Act of 1933 (17 CFR 230.482).
Requiring the inclusion of such standardized performance data in sales
literature is designed to prevent misleading performance claims by
funds and to enable investors to make meaningful comparisons among
funds.
The Commission estimates that on average approximately 130
respondents file 13,685 \1\ responses that include the information
required by rule 34b-1 each year. The burden resulting from the
collection of information requirements of rule 34b-1 is estimated to be
2 hours per response. The total annual burden hours for rule 34b-1 is
approximately 27,370 hours per year in the aggregate.\2\
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\1\ The estimated number of responses to rule 34b-1 is composed
of 13,378 responses filed with FINRA and 307 responses filed with
the Commission in 2013.
\2\ 13,685 responses x 2 hours per response = 27,370.
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The collection of information under rule 34b-1 is mandatory. The
information provided under rule 34b-1 is not kept confidential. The
Commission 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 proposed
collection of information is necessary for the proposed performance of
the functions of the agency, including whether information will have
practical utility; (b) the accuracy of the agency'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 Thomas Bayer, 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: July 17, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-17282 Filed 7-22-14; 8:45 am]
BILLING CODE 8011-01-P