[Federal Register Volume 79, Number 193 (Monday, October 6, 2014)]
[Notices]
[Pages 60201-60202]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-23708]
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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-17f-2, OMB Control No. 3235-0360, SEC File No. 270-317.
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 350l et seq.), the Securities and Exchange
Commission (the ``Commission'') has submitted to the Office of
Management and Budget a request for extension of the previously
approved collection of information discussed below.
Form N-17f-2 (17 CFR 274.220) under the Investment Company Act is
entitled ``Certificate of Accounting of Securities and Similar
Investments in the Custody of Management Investment Companies.'' Form
N-17f-2 is the cover sheet for the accountant examination certificates
filed under rule 17f-2 (17 CFR 270.17f-2) by registered management
investment companies (``funds'') maintaining custody of securities or
other investments. Form N-17f-2 facilitates the filing of the
accountant's examination certificates prepared under rule 17f-2. The
use of the form allows the certificates to be filed electronically, and
increases the accessibility of the examination
[[Page 60202]]
certificates to both the Commission's examination staff and interested
investors by ensuring that the certificates are filed under the proper
Commission file number and the correct name of a fund.
Commission staff estimates that it takes: (i) On average 1.25 hours
of fund accounting personnel at a total cost of $247.5 to prepare each
Form N-17f-2; \1\ and (ii) .75 hours of administrative assistant time
at a total cost of $55.50 to file the Form N-17f-2 with the
Commission.\2\ Approximately 188 funds currently file Form N-17f-2 with
the Commission. Commission staff estimates that on average each fund
files Form N-17f-2 four times annually for a total annual hourly burden
per fund of approximately 8 hours at a total cost of $1,212.00. The
total annual hour burden for Form N-17f-2 is therefore estimated to be
approximately 1504 hours. Based on the total annual costs per fund
listed above, the total cost of Form N-17f-2's collection of
information requirements is estimated to be approximately $227,856.\3\
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\1\ This estimate is based on the following calculation: 1.25 x
$198 (fund senior accountant's hourly rate) = $247.5.
\2\ This estimate is based on the following calculation: .75 x
$74 (administrative assistant hourly rate) = $55.50.
\3\ This estimate is based on the following calculation: 188
funds x $1,212.00 (total annual cost per fund) = $227,856.
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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 and forms. Complying with the collections of
information required by Form N-17f-2 is mandatory for those funds that
maintain custody of their own assets. Responses 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 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) 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]. Comments must be submitted to OMB within 30 days
of this notice.
Dated: September 30, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-23708 Filed 10-3-14; 8:45 am]
BILLING CODE 8011-01-P