Notice2022-02502
Proposed Collection; Comment Request; Extension: Rule 30e-3
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
February 7, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 25 (Monday, February 7, 2022)</title>
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[Federal Register Volume 87, Number 25 (Monday, February 7, 2022)]
[Notices]
[Page 6903]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-02502]
[[Page 6903]]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-802, OMB Control No. 3235-0758]
Proposed Collection; Comment Request; Extension: Rule 30e-3
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.) (``Paperwork Reduction Act''), 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 (``OMB'') for extension and
approval.
Section 30(e) of the Investment Company Act of 1940 (15 U.S.C. 80a-
1 et seq.) (``Investment Company Act'') requires a registered
investment company (``fund'') to transmit to its shareholders, at least
semi-annually, reports containing financial statements and other
financial information as the Commission may prescribe by rules and
regulations. Rules 30e-1 (17 CFR 270.30e-1) and 30e-2 (17 CFR 270.30e-
2) under the Investment Company Act require most funds to send their
shareholders annual and semiannual reports containing financial
information on the fund.
Rule 30e-3 (17 CFR 270.30e-3) under the Investment Company Act (15
U.S.C. 80a-1 et seq.) provides certain funds and unit investment trusts
with an optional method to satisfy shareholder report transmission
requirements by making such reports and certain other materials
publicly accessible on a website, as long as they satisfy certain other
conditions of the rule regarding: (a) Availability of the report and
other materials; (b) notice to investors of the website availability of
the report; and (c) delivery of paper copies of materials upon request.
Reliance on the rule is voluntary. Responses to the disclosure
requirements are not kept confidential.
The Commission estimates that 13,079 funds could rely on rule 30e-
3. Of these funds, we estimate that 90% (or 11,771 funds) are currently
relying on rule 30e-3. With respect to these 11,771 funds, we estimate
that 90% (or 10,594 funds) already post shareholder reports on their
websites for other purposes. In total, rule 30e 3 will impose an
average total annual hour burden of 24,719 hours on applicable funds.
Based on the Commission's estimate of 24,719 hours and an estimated
wage rate of about $362 per hour, the total annual cost to registrants
of the hour burden for complying with rule 30 3 is about $8.9 million.
Estimates of average burden hours 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 costs of Commission rules
and forms. The collection of information under rule 30e-3 is mandatory.
The information provided under rule 30e-3 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 OMB control number.
Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the agency, including whether the 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 David Bottom, Director/Chief
Information Officer, Securities and Exchange Commission, C/O John R.
Pezzullo, 100 F Street NE, Washington, DC 20549; or send an email to:
<a href="/cdn-cgi/l/email-protection#346466756b79555d58565b4c744751571a535b42"><span class="__cf_email__" data-cfemail="0b5b594a54466a62676964734b786e68256c647d">[email protected]</span></a>.
Dated: February 2, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-02502 Filed 2-4-22; 8:45 am]
BILLING CODE 8011-01-P
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