Notice2023-24951
Submission for OMB Review; 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
November 13, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 217 (Monday, November 13, 2023)</title>
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[Federal Register Volume 88, Number 217 (Monday, November 13, 2023)]
[Notices]
[Page 77648]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-24951]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-317, OMB Control No. 3235-0360]
Submission for OMB Review; 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'') has submitted to the Office of
Management and Budget a request for extension of the previously
approved collection of information discussed below.
Form N-17f-2 (17 CFR 274.220) under the Investment Company Act is
entitled ``Certificate of Accounting of 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 with a total cost of approximately
$190,822.50.\3\ Form N-17f-2 does not impose any paperwork-related cost
burden other than this internal hour cost.
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\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.
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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.
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 December 13, 2023 to (i) <a href="/cdn-cgi/l/email-protection#3a77786214757778147573687b14697f79655e5f495165555c5c53595f487a555758145f554a145d554c"><span class="__cf_email__" data-cfemail="a6ebe4fe88e9ebe488e9eff4e788f5e3e5f9c2c3d5cdf9c9c0c0cfc5c3d4e6c9cbc488c3c9d688c1c9d0">[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#712123302e3c10181d131e09310214125f161e07"><span class="__cf_email__" data-cfemail="47171506180a262e2b25283f0734222469202831">[email protected]</span></a>.
Dated: November 7, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-24951 Filed 11-9-23; 8:45 am]
BILLING CODE 8011-01-P
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