30 Day Notice

Federal Register / Vol. 86, No. 20 / Tuesday, February 2, 2021 / Notices
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for website viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE,
Washington, DC 20549, on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the
filing also will be available for
inspection and copying at the principal
office of the Exchange. All comments
received will be posted without change.
Persons submitting comments are
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–CboeBYX–2021–003, and
should be submitted on or before
February 23, 2021.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.15
J. Matthew DeLesDernier
Assistant Secretary.
[FR Doc. 2021–02117 Filed 2–1–21; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–240, OMB Control No.
3235–0216]

Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736

jbell on DSKJLSW7X2PROD with NOTICES

Extension:
Rule 19a–1

Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501–3520), 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.
Section 19(a) (15 U.S.C. 80a–19(a)) of
the Investment Company Act of 1940
(the ‘‘Act’’) (15 U.S.C. 80a) makes it
unlawful for any registered investment
company to pay any dividend or similar
distribution from any source other than
the company’s net income, unless the
payment is accompanied by a written
statement to the company’s
15 17

CFR 200.30–3(a)(12).

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shareholders which adequately
discloses the sources of the payment.
Section 19(a) authorizes the
Commission to prescribe the form of
such statement by rule.
Rule 19a–1 (17 CFR 270.19a–1) under
the Act, entitled ‘‘Written Statement to
Accompany Dividend Payments by
Management Companies,’’ sets forth
specific requirements for the
information that must be included in
statements made pursuant to section
19(a) by or on behalf of management
companies.1 The rule requires that the
statement indicate what portions of
distribution payments are made from
net income, net profits from the sale of
a security or other property (‘‘capital
gains’’) and paid-in capital. When any
part of the payment is made from capital
gains, rule 19a–1 also requires that the
statement disclose certain other
information relating to the appreciation
or depreciation of portfolio securities. If
an estimated portion is subsequently
determined to be significantly
inaccurate, a correction must be made
on a statement made pursuant to section
19(a) or in the first report to
shareholders following the discovery of
the inaccuracy.
The purpose of rule 19a–1 is to afford
fund shareholders adequate disclosure
of the sources from which distribution
payments are made. The rule is
intended to prevent shareholders from
confusing income dividends with
distributions made from capital sources.
Absent rule 19a–1, shareholders might
receive a false impression of fund gains.
Based on a review of filings made
with the Commission, the staff estimates
that approximately 12,019 series of
registered investment companies that
are management companies may be
subject to rule 19a–1 each year,2 and
that each portfolio on average mails two
statements per year to meet the
requirements of the rule.3 The staff
further estimates that the time needed to
make the determinations required by the
rule and to prepare the statement
1 Section 4(3) of the Act (15 U.S.C. 80a–4(3))
defines ‘‘management company’’ as ‘‘any
investment company other than a face amount
certificate company or a unit investment trust.’’
2 This estimate is based on statistics compiled by
Commission staff as of September 21, 2020. The
number of management investment company
portfolios that make distributions for which
compliance with rule 19a–1 is required depends on
a wide range of factors and can vary greatly across
years. Therefore, the calculation of estimated
burden hours is based on the total number of
management investment company portfolios, each
of which may be subject to rule 19a–1.
3 A few portfolios make monthly distributions
from sources other than net income, so the rule
requires them to send out a statement 12 times a
year. Other portfolios never make such
distributions.

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7917

required under the rule is
approximately 1 hour per statement.
The total annual burden for all
portfolios therefore is estimated to be
approximately 24,038 burden hours.4
The staff estimates that approximately
one-third of the total annual burden
(8,013 hours) would be incurred by a
paralegal with an average hourly wage
rate of approximately $219 per hour,5
and approximately two-thirds of the
annual burden (16,026 hours) would be
incurred by a compliance clerk with an
average hourly wage rate of $71 per
hour.6 The staff therefore estimates that
the aggregate annual cost of complying
with the paperwork requirements of the
rule is approximately $2,892,693 ((8,013
hours × $219 = $1,754,847) + (16,026
hours × $71 = $1,137,846)).
To comply with state law, many
investment companies already must
distinguish the different sources from
which a shareholder distribution is paid
and disclose that information to
shareholders. Thus, many investment
companies would be required to
distinguish the sources of shareholder
dividends whether or not the
Commission required them to do so
under rule 19a–1.
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. Compliance
with the collection of information
required by rule 19a–1 is mandatory for
management companies that make
statements to shareholders pursuant to
section 19(a) of the Act. 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 the background
documentation for this information
collection at the following website,
www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
4 This estimate is based on the following
calculation: 12,019 management investment
company portfolios × 2 statements per year × 1 hour
per statement = 24,038 burden hours.
5 Hourly rates are derived from the Securities
Industry and Financial Markets Association
(‘‘SIFMA’’), Management and Professional Earnings
in the Securities Industry 2013, modified to account
for an 1,800-hour work-year and inflation, and
multiplied by 5.35 to account for bonuses, firm size,
employee benefits, and overhead.
6 Hourly rates are derived from SIFMA’s Office
Salaries in the Securities Industry 2013, modified
to account for an 1,800-hour work-year and
multiplied by 2.93 to account for bonuses, firm size,
employee benefits and overhead.

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Federal Register / Vol. 86, No. 20 / Tuesday, February 2, 2021 / Notices

Office Building, Washington, DC 20503,
or by sending an email to:
[email protected]; and (ii)
David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Cynthia
Roscoe, 100 F Street NE, Washington,
DC 20549 or send an email to: PRA_
[email protected]. Written comments
and recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
Dated: January 27, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–02124 Filed 2–1–21; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–185, OMB Control No.
3235–0238]

Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736

jbell on DSKJLSW7X2PROD with NOTICES

Extension:
Form N–6F

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
(‘‘Commission’’) has submitted to the
Office of Management and Budget a
request for extension of the previously
approved collection of information
discussed below.
The title for the collection of
information is ‘‘Form N–6F (17 CFR
274.15), Notice of Intent to Elect to be
Subject to Sections 55 through 65 of the
Investment Company Act of 1940.’’ The
purpose of Form N–6F is to notify the
Commission of a company’s intent to
file a notification of election to become
subject to Sections 55 through 65 of the
Investment Company Act of 1940 (15
U.S.C. 80a–1 et seq.) (‘‘1940 Act’’).
Certain companies may have to make a
filing with the Commission before they
are ready to elect to be regulated as a
business development company.1 A
1 A company might not be prepared to elect to be
subject to Sections 55 through 65 of the 1940 Act
because its capital structure or management

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company that is excluded from the
definition of ‘‘investment company’’ by
Section 3(c)(1) because it has fewer than
one hundred shareholders and is not
making a public offering of its securities
may lose such an exclusion solely
because it proposes to make a public
offering of securities as a business
development company. Such company,
under certain conditions, would not
lose its exclusion if it notifies the
Commission on Form N–6F of its intent
to make an election to be regulated as
a business development company. The
company only has to file a Form N–6F
once.
The Commission estimates that on
average approximately 4 companies file
these notifications each year. Each of
those companies need only make a
single filing of Form N–6F. The
Commission further estimates that this
information collection imposes burden
of 0.5 hours, resulting in a total annual
PRA burden of 2 hours. Based on the
estimated wage rate, the total cost to the
industry of the hour burden for
complying with Form N–6F would be
approximately $736.
The collection of information under
Form N–6F is mandatory. The
information provided under the form is
not 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.
The public may view the background
documentation for this information
collection at the following website,
www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503,
or by sending an email to:
[email protected]; and (ii)
David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Cynthia
Roscoe, 100 F Street NE, Washington,
DC 20549 or send an email to: PRA_
[email protected]. Written comments
and recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
compensation plan is not yet in compliance with
the requirements of those sections.

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Dated: January 27, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–02122 Filed 2–1–21; 8:45 am]
BILLING CODE 8011–01–P

SMALL BUSINESS ADMINISTRATION
[Disaster Declaration # 16811 and # 16812;
Alabama Disaster Number AL–00116]

Presidential Declaration Amendment of
a Major Disaster for Public Assistance
Only for the State of Alabama
U.S. Small Business
Administration.

AGENCY:
ACTION:

Amendment 2.

SUMMARY: This is an amendment of the
Presidential declaration of a major
disaster for Public Assistance Only for
the State of Alabama (FEMA–4573–DR),
dated 12/10/2020.
Incident: Hurricane Zeta.
Incident Period: 10/28/2020 through
10/29/2020.

Issued on 01/27/2021.
Physical Loan Application Deadline
Date: 02/08/2021.
Economic Injury (EIDL) Loan
Application Deadline Date: 09/10/2021.

DATES:

Submit completed loan
applications to: U.S. Small Business
Administration, Processing and
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.

ADDRESSES:

A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street SW, Suite 6050,
Washington, DC 20416, (202) 205–6734.

FOR FURTHER INFORMATION CONTACT:

The notice
of the President’s major disaster
declaration for Private Non-Profit
organizations in the State of Alabama,
dated 12/10/2020, is hereby amended to
include the following areas as adversely
affected by the disaster.
Primary Counties: Lowndes
All other information in the original
declaration remains unchanged.

SUPPLEMENTARY INFORMATION:

(Catalog of Federal Domestic Assistance
Number 59008)
Cynthia Pitts,
Acting Associate Administrator for Disaster
Assistance.
[FR Doc. 2021–02142 Filed 2–1–21; 8:45 am]
BILLING CODE 8026–03–P

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