[Federal Register Volume 62, Number 120 (Monday, June 23, 1997)]
[Notices]
[Page 33943]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-16269]
[[Page 33943]]
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SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; Comment Request
Extension:
Rule 20a-1 SEC File No. 270-132 OMB Control No. 3235-0158
Rule 489 and Form F-N SEC File No. 270-361 OMB Control No. 3235-
0411
Upon Written Request, Copies Available From: Securities and
Exchange Commission, Office of Filings and Information Services,
Washington, DC 20549.
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 (``Commission'') has submitted to the Office of Management
and Budget request[s] for extension of the previously approved
collection[s] of information discussed below.
Rule 20a-1 requires that the solicitation of a proxy, consent or
authorization with respect to a security issued by a registered fund be
in compliance with Regulation 14A (17 CFR 240.14A-1), Schedule 14A (17
CFR 240.14a-101), and all other rules and regulations adopted under
section 14(a) of the Securities Exchange Act of 1934 (15 U.S.C.
78n(a)). Rule 20a-1 also requires a fund's investment adviser, or a
prospective adviser, to transmit to the person making a proxy
solicitation the information necessary to enable that person to comply
with the rules and regulations applicable to the solicitation.
Regulation 14A and Schedule 14A establish the disclosure
requirements applicable to the solicitation of proxies, consents and
authorizations. In particular, Item 22 of Schedule 14A contains
extensive disclosure requirements for registered investment company
proxy statements. Among other things, it requires the disclosure of
information about fund fee or expense increases, the election of
directors, the approval of an investment advisory contract and the
approval of a distribution plan.
The Commission requires the dissemination of this information to
assist investors in understanding their fund investments and the
choices they may be asked to make regarding fund operations. The
Commission does not use the information in proxies directly, but
reviews proxy statement filings for compliance with applicable rules.
It is estimated that approximately 1,000 registered investment
companies are required to file one proxy statement annually. The total
annual reporting and recordkeeping burden of the collection of
information is estimated to be approximately 96,200 hours (1,000
responses x 96.2 hours per response).
Rule 489 and Form F-N requires certain entities that are excepted
from the definition of investment company by virtue of rules 3a-1, 3a-
5, and 3a-6 under the Investment Company Act of 1940 to file Form F-N
to appoint a United States agent for services of process when making a
public offering of securities in the United States.
It is estimated that approximately 21 entities are required by rule
489 to file Form F-N. The total estimated annual burden of complying
with the filing requirement is approximately 25 hours.
General comments regarding the above information should be directed
to the following persons: (1) Desk Officer for the Securities and
Exchange Commission, Office of Information and Regulatory Affairs,
Office of Management and Budget, Room 3208, New Executive Office
Building, Washington, D.C. 20503; and (ii) Michael E. Bartell,
Associate Executive Director, Office of Information Technology,
Securities and Exchange Commission, 450 Fifth Street, N.W., Washington,
D.C. 20549. Comments must be submitted to OMB within 30 days of this
notice.
Dated: June 16, 1997.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-16269 Filed 6-20-97; 8:45 am]
BILLING CODE 6712-02-M
