Notice2023-14998
Submission for OMB Review; Comment Request; Extension: Form N-PX
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
July 14, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
<html>
<head>
<title>Federal Register, Volume 88 Issue 134 (Friday, July 14, 2023)</title>
</head>
<body><pre>
[Federal Register Volume 88, Number 134 (Friday, July 14, 2023)]
[Notices]
[Pages 45259-45262]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-14998]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-524, OMB Control No. 3235-0582]
Submission for OMB Review; Comment Request; Extension: Form N-PX
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 (``Commission'')
[[Page 45260]]
has submitted to the Office of Management and Budget (``OMB'') a
request for extension of the previously approved collection of
information discussed below.
On November 2, 2022, the Commission adopted rule and form
amendments (``Amendments'') that would enhance the information funds
report on Form N-PX and make that information easier to analyze.\1\ The
Commission also adopted a new rule that would require an institutional
investment manager subject to section 13(f) of the Securities Exchange
Act of 1934 (``Exchange Act'') to report annually on Form N-PX how it
voted proxies relating to executive compensation matters, as required
by section 14A of the Exchange Act. The Amendments require funds (and,
for executive compensation matters, institutional investment managers)
to (i) identify voting matters using language from the issuer's form of
proxy (with certain exceptions for issuers who are not subject to the
Commission's proxy rules) and categorize their votes from a list of
categories; (ii) disclose quantitative information regarding the number
of votes cast (or instructed to be cast) and the number of shares not
voted because they are out on loan; and (iii) file reports in an XML
structured data language using a standardized format. In addition, the
Amendments included changes to Forms N-1A, N-2, and N-3 that require
funds, if they have a website, to disclose that their proxy voting
records are publicly available on or through their websites, free of
charge, and to make this information available on or through its
website as soon as reasonably practicable after filing a report on Form
N-PX with the Commission.
---------------------------------------------------------------------------
\1\ Enhanced Reporting of Proxy Votes by Registered Management
Investment Companies; Reporting of Executive Compensation Votes by
Institutional Investment Managers, Investment Company Release No.
34745 (November 2, 2022) [87 FR 78770 (Dec. 22, 2022)] (``Adopting
Release'').
---------------------------------------------------------------------------
The purpose of Form N-PX is to meet the filing and disclosure
requirements of rules under the Act and also to enable funds to provide
investors with information necessary to evaluate overall patterns in
the manager's voting behavior. This information collection is primarily
for the use and benefit of investors. The information filed with the
Commission also permits the verification of compliance with securities
law requirements and assures the public availability and dissemination
of the information. Due to the Amendments, Form N-PX will also be used
by institutional investment managers to meet the filing and disclosure
requirements of section 14A under the Exchange Act.
The table below summarizes our estimates associated with the
amendments to Form N-PX that the Amendments address:
BILLING CODE 8011-01-P
[[Page 45261]]
[GRAPHIC] [TIFF OMITTED] TN14JY23.008
[[Page 45262]]
[GRAPHIC] [TIFF OMITTED] TN14JY23.009
BILLING CODE 8011-01-C
The table above summarizes our PRA initial and ongoing annual
burden estimates associated with Form N-PX, as amended. In the
aggregate, we estimate the total annual burden to comply with amended
Form N-PX to be 380,741 hours, with an average external cost of
$36,141,445.
Compliance with Form N-PX is mandatory. Responses to the collection
of information requirements will not be kept confidential.
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. 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.
The public may view background documentation for this information
collection at the following website: <a href="http://www.reginfo.gov">www.reginfo.gov</a>. Find this
particular information collection by selecting ``Currently under 30-day
Review--Open for Public Comments'' or by using the search function.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
by August 14, 2023 to (i) <a href="/cdn-cgi/l/email-protection#733e312b5d3c3e315d3c3a21325d2036302c171600182c1c15151a101601331c1e115d161c035d141c05"><span class="__cf_email__" data-cfemail="2568677d0b6a68670b6a6c77640b7660667a4140564e7a4a43434c464057654a48470b404a550b424a53">[email protected]</span></a> and
(ii) David Bottom, Director/Chief Information Officer, Securities and
Exchange Commission, c/o John Pezzullo, 100 F Street NE, Washington, DC
20549, or by sending an email to: <a href="/cdn-cgi/l/email-protection#cc9c9e8d9381ada5a0aea3b48cbfa9afe2aba3ba"><span class="__cf_email__" data-cfemail="c29290839d8fa3abaea0adba82b1a7a1eca5adb4">[email protected]</span></a>.
Dated: July 11, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-14998 Filed 7-13-23; 8:45 am]
BILLING CODE 8011-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on July 14, 2023.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.