[Federal Register Volume 60, Number 146 (Monday, July 31, 1995)]
[Notices]
[Pages 39028-39029]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-18667]
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SECURITIES AND EXCHANGE COMMISSION
Forms Under Review by the Office of Management and Budget
Agency Clearance Officer: Michael E. Bartell, (202) 942-8800
Upon Written Request, Copy Available From: Securities and Exchange
Commission, Office of Filings and Information Services, 450 Fifth
Street, N.W., Washington, D.C. 20549
Approval; Amendments to:
Regulation S-X--File No. 270-3
Form N-1A--File No. 270-21
Form N-2--File No. 270-21
Form N-3--File No. 270-281
Form N-4--File No. 270-282
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1980 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission has submitted for OMB approval amendments to Regulation S-X
under the Securities Act of 1933 (the ``1933 Act'') and Form N-1A, Form
N-2, Form N-3, and Form N-4 under the 1933 Act and the Investment
Company Act of 1940 (the ``1940 Act''). The amendments pertain to the
disclosure of investment company (``funds'') expenses when such
expenses are paid by third parties in exchange for allocation of fund
brokerage or use of fund assets.
The amendment to regulation S-X requires funds to include in their
statements of operations the amount of any expenses paid by third
parties in exchange for allocation of fund brokerage or use of fund
assets. The amendments to Form N-1A, Form N-2, Form N-3 and Form N-4
require that this ``total expense'' figure also be set forth in the fee
table and financial highlights table in fund prospectuses and be used,
in part, to calculate fund yield. The change in burden associated with
these amendments will be reflected in the burdens associated with the
various forms to be amended.
It is estimated that 300 funds that file on Form N-1A will each
incur 3.0 burden hours in addition to the time currently required to
complete the Form, 750 funds that file on Form N-1A will each incur 2.0
additional burden hours, and 1,950 funds that file on Form N-1A will
each incur 1.0 additional burden hour. It is estimated that 12 funds
that file on Form N-2 will each incur 2.5 burden hours in addition to
the time currently required to
[[Page 39029]]
complete the Form, 31 funds that file on
Form N-2 will each incur 1.5 additional
burden hours, and 82 funds that file on
Form N-2 will each incur 1.0 additional
burden hour. It is estimated that five
funds that file on Form N-3 will each
incur 1.5 burden hours in addition to
the time currently required to complete
Form N-3, while 13 funds that file on
Form N-3 will each incur 1.0 additional
burden hour. Finally, it is estimated that
28 funds that file on Form N-4 will each
incur 1.5 burden hours in addition to
the time currently required to complete
Form N-4, while 72 funds that file on
Form N-4 will each incur 1.0 additional
burden hour.
The estimates of burden hours set
forth above are made solely for the
purposes of the Paperwork Reduction
Act and are not derived from a
comprehensive or even representative
survey or study of the cost of SEC rules
and forms.
General comments may be directed to
the OMB Clearance Officer for the
Securities and Exchange Commission at
the address below. Comments
concerning the accuracy of the
estimated average burden hours for
compliance with Commission rules and
forms should be directed to Michael E.
Bartell, Associate Executive Director,
Securities and Exchange Commission,
450 Fifth Street, N.W., Washington, D.C.
20549, and to the Securities and
Exchange Commission's Clearance
Officer, Office of Information and
Regulatory Affairs, Paperwork
Reduction Act numbers 3235-0009 (for
Regulation S-X), 3235-0307 (for Form
N-1A), 3235-0026 (for Form N-2),
3235-0316 (for Form N-3), and 3235-
0318 (for Form N-4), Office of
Management and Budget, Room 3228,
New Executive Office Building,
Washington, D.C. 20543.
Dated: July 21, 1995.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 95-18667 Filed 7-28-95; 8:45 am]
BILLING CODE 8010-01-M