Notice2023-19246
Proposed Collection; Comment Request; Extension: Form N-17F-2
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
September 7, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
<html>
<head>
<title>Federal Register, Volume 88 Issue 172 (Thursday, September 7, 2023)</title>
</head>
<body><pre>
[Federal Register Volume 88, Number 172 (Thursday, September 7, 2023)]
[Notices]
[Pages 61655-61656]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-19246]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-317, OMB Control No. 3235-0360]
Proposed Collection; Comment Request; Extension: Form N-17F-2
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. 350l et seq.), 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 for extension and approval.
Form N-17f-2 (17 CFR 274.220) under the Investment Company Act is
entitled ``Certificate of Accounting of
[[Page 61656]]
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 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 $315 to prepare each
Form N-17f-2; \1\ and (ii) .75 hours of administrative assistant time
at a total cost of $70.50 to file the Form N-17f-2 with the
Commission.\2\ Approximately 165 funds currently file Form N-17f-2 with
the Commission. Commission staff estimates that on average each fund
files Form N-17f-2 three times annually for a total annual hourly
burden per fund of approximately 6 hours at a total cost of $1,156.50.
The total annual hour burden for Form N-17f-2 is therefore estimated to
be approximately 990 hours at a total cost of approximately
$190,822.50.\3\ Form N-17f-2 does not impose any paperwork related cost
burdens other than this internal hour cost.
---------------------------------------------------------------------------
\1\ This estimate is based on the following calculation: 1.25 x
$252 (fund senior accountant's hourly rate) = $315.
\2\ This estimate is based on the following calculation: .75 x
$94 (administrative assistant hourly rate) $70.50.
\3\ This estimate is based on the following calculation: 165
funds x $1,156.50 (total annual cost per fund) = $190,822.50.
---------------------------------------------------------------------------
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.
Written comments are invited on: (a) whether the proposed
collection of information is necessary for the proper performance of
the functions of the Commission, including whether the information
shall have practical utility; (b) the accuracy of the Commission'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 by November 6, 2023.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information under the PRA unless it
displays a currently valid OMB control number.
Please direct your written comments to: David Bottom, Acting
Director/Chief Information Officer, Securities and Exchange Commission,
c/o John Pezzullo, 100 F Street NE, Washington, DC 20549 or send an
email to: <a href="/cdn-cgi/l/email-protection#cc9c9e8d9381ada5a0aea3b48cbfa9afe2aba3ba"><span class="__cf_email__" data-cfemail="0c5c5e4d53416d65606e63744c7f696f226b637a">[email protected]</span></a> .
Dated: August 31, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-19246 Filed 9-6-23; 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 September 7, 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.