Notice2026-11132
Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Rule 0-2 Under the Investment Company Act of 1940, General Requirements of Papers and Applications
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
June 3, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 91 Issue 106 (Wednesday, June 3, 2026)</title>
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[Federal Register Volume 91, Number 106 (Wednesday, June 3, 2026)]
[Notices]
[Page 33251]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-11132]
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SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0636]
Agency Information Collection Activities; Proposed Collection;
Comment Request; Extension: Rule 0-2 Under the Investment Company Act
of 1940, General Requirements of Papers and Applications
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.), the Securities and Exchange
Commission (``SEC'' or ``Commission'') is soliciting comments on the
proposed collection of information.
Several sections of the Investment Company Act of 1940 (``Act'' or
``Investment Company Act'') \1\ give the Securities and Exchange
Commission (``Commission'') the authority to issue orders granting
exemptions from the Act's provisions. The section that grants broadest
authority is section 6(c), which provides the Commission with authority
to conditionally or unconditionally exempt persons, securities or
transactions from any provision of the Investment Company Act, or the
rules or regulations thereunder, if and to the extent that such
exemption is necessary or appropriate in the public interest and
consistent with the protection of investors and the purposes fairly
intended by the policy and provisions of the Act.\2\ Congress enacted
section 6(c) to give the Commission the flexibility to address
unforeseen or changed circumstances in the investment company industry.
Rule 0-2 under the Investment Company Act,\3\ entitled ``General
Requirements of Papers and Applications,'' prescribes general
instructions for filing an application seeking exemptive relief with
the Commission.
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\1\ 15 U.S.C. 80a-1 et seq.
\2\ 15 U.S.C. 80a-6(c).
\3\ 17 CFR 270.0-2.
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Rule 0-2(c)(1) requires that every application for an order for
which a form is not specifically prescribed and which is executed by a
corporation, partnership or other company and filed with the Commission
contain a statement of the applicable provisions of the articles of
incorporation, bylaws or similar documents, relating to the right of
the person signing and filing such application to take such action on
behalf of the applicant, and a statement that all such requirements
have been complied with and that the person signing and filing the
application is fully authorized to do so. If such authorization is
dependent on resolutions of stockholders, directors, or other bodies,
such resolutions must be attached as an exhibit to or quoted in the
application. Any amendment to the application must contain a similar
statement as to the applicability of the original statement of
authorization. When any application or amendment is signed by an agent
or attorney, rule 0-2(c)(1) requires that the power of attorney
evidencing his authority to sign shall state the basis for the agent's
authority and shall be filed with the Commission. Every application
subject to rule 0-2 must be verified by the person executing the
application by executing an instrument in substantially the form
specified in the rule. Each application subject to rule 0-2 must state
the reasons why the applicant is deemed to be entitled to the action
requested, the name and address of each applicant, and the name and
address of any person to whom any questions regarding the application
should be directed. Electronic filing of all applications for orders
under the Investment Company Act is mandatory. Each application subject
to rule 0-2 is a one-time request and the rule itself does not impose
any ongoing obligations or burdens on the part of an applicant.
Compliance with rule 0-2 is required to obtain or retain benefits.
We estimate that approximately 139 registrants use rule 0-2 to make
exemptive applications.\4\ Based on conversations with fund
representatives and the Commission's experience with the use of rule 0-
2, we estimate that the reporting burden of compliance with rule 0-2 is
approximately 20 hours per respondent. This time is spent, for example,
preparing the application to submit to the Commission. Accordingly, we
calculate the total estimated annual internal burden of complying with
rule 0-2 to be approximately 2,780 hours. We estimate the annual
external costs to be $10,341,600. 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.
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\4\ This estimate is based on the annual average of the number
of total exemptive applications for the three year period ended
December 2025 (1,251 applications/3 = 417), of which approximately
\2/3\ are amendments (417 x (\2/3\) = 139 new exemptive
applications).
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Written comments are invited on: (a) whether this proposed
collection of information is necessary for the proper performance of
the functions of the SEC, including whether the information will have
practical utility; (b) the accuracy of the SEC's estimate of the burden
imposed by the proposed collection of information, including the
validity of the methodology and the assumptions used; (c) ways to
enhance the quality, utility, and clarity of the information to be
collected; and (d) ways to minimize the burden of the collection of the
information on respondents, including through the use of automated,
electronic collection techniques or other forms of information
technology.
Please direct your written comments on this 60-Day Collection
Notice to Austin Gerig, Director/Chief Data Officer, Securities and
Exchange Commission, c/o Tanya Ruttenberg via email to
<a href="/cdn-cgi/l/email-protection#0a5a6b7a6f787d657861586f6e7f697e6365644b697e4a796f69246d657c"><span class="__cf_email__" data-cfemail="bcecddccd9cecbd3ced7eed9d8c9dfc8d5d3d2fddfc8fccfd9df92dbd3ca">[email protected]</span></a> by August 3, 2026. There will be a second
opportunity to comment on this SEC request following the Federal
Register publishing a 30-Day Submission Notice.
Dated: June 1, 2026.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-11132 Filed 6-2-26; 8:45 am]
BILLING CODE 8011-01-P
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