60 Day Notice

354

Federal Register / Vol. 86, No. 2 / Tuesday, January 5, 2021 / Notices

to 90 days as the Commission may
designate if it finds such longer period
to be appropriate and publishes its
reasons for so finding, or as to which the
self-regulatory organization consents,
the Commission shall either approve the
proposed rule change, disapprove the
proposed rule change, or institute
proceedings to determine whether the
proposed rule change should be
disapproved. The 45th day after
publication of the notice for this
proposed rule change is January 7, 2021.
The Commission is extending this 45day time period.
The Commission finds it appropriate
to designate a longer period within
which to take action on the proposed
rule change so that it has sufficient time
to consider the proposed rule change.
Accordingly, the Commission, pursuant
to Section 19(b)(2) of the Act,5
designates February 21, 2021 as the date
by which the Commission shall either
approve or disapprove, or institute
proceedings to determine whether to
disapprove, the proposed rule change
(File No. SR–NYSEArca–2020–98).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–29136 Filed 1–4–21; 8:45 am]

July 28, 2020, pursuant to Section
19(b)(2) of the Act,4 the Commission
designated a longer period within which
to approve the proposed rule change,
disapprove the proposed rule change, or
institute proceedings to determine
whether to disapprove the proposed
rule change.5 On September 16, 2020,
the Commission instituted proceedings
under Section 19(b)(2)(B) of the Act 6 to
determine whether to approve or
disapprove the proposed rule change.7
On December 7, 2020, the Commission
designated a longer period within which
to issue an order approving or
disapproving the proposed rule change.8
The Commission received no comment
letters on the proposed rule change. On
December 29, 2020, the Exchange
withdrew the proposed rule change
(SR–NYSEArca–2020–46).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–29137 Filed 1–4–21; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–574, OMB Control No.
3235–0648]

BILLING CODE 8011–01–P

Proposed Collection; Comment
Request
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–90817; File No. SR–
NYSEArca–2020–46]

Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Withdrawal of a
Proposed Rule Change To Amend
NYSE Arca Rule 5.2–E(j)(6) Relating to
Options-Linked Securities

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December 29, 2020.

On June 10, 2020, NYSE Arca, Inc.
(‘‘Exchange’’ or ‘‘NYSE Arca’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’), pursuant
to Section 19(b)(1) of the Securities
Exchange Act of 1934 (‘‘Act’’) 1 and Rule
19b–4 thereunder,2 a proposed rule
change to amend NYSE Arca Rule 5.2–
E(j)(6) to accommodate Exchange listing
and trading of Options-Linked
Securities. The proposed rule change
was published for comment in the
Federal Register on June 22, 2020.3 On
5 Id.
6 17

CFR 200.30–3(a)(31).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 89073
(June 16, 2020), 85 FR 37488.
1 15

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17:09 Jan 04, 2021

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Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Extension:
Rule 498

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 (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 (‘‘OMB’’) for
extension and approval.
4 15

U.S.C. 78s(b)(2).
Securities Exchange Act Release No. 89412,
85 FR 46744 (August 3, 2020).
6 15 U.S.C. 78s(b)(2)(B).
7 See Securities Exchange Act Release No. 89898,
85 FR 59572 (September 22, 2020).
8 See Securities Exchange Act Release No. 90575,
85 FR 80206 (December 11, 2020). The Commission
designated February 17, 2021, as the date by which
the Commission shall either approve or disapprove
the proposed rule change.
9 17 CFR 200.30–3(a)(12).
5 See

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Rule 498 (17 CFR 230.498) under the
Securities Act of 1933 (15 U.S.C. 77a et
seq.) (‘‘Securities Act’’) permits openend management investment companies
(‘‘funds’’) to satisfy their prospectus
delivery obligations under the Securities
Act by sending or giving key
information directly to investors in the
form of a summary prospectus
(‘‘Summary Prospectus’’) and providing
the statutory prospectus on a website.
Upon an investor’s request, funds are
also required to send the statutory
prospectus to the investor. In addition,
under rule 498, a fund that relies on the
rule to meet its statutory prospectus
delivery obligations must make
available, free of charge, the fund’s
current Summary Prospectus, statutory
prospectus, statement of additional
information, and most recent annual
and semi-annual reports to shareholders
at the website address specified in the
required Summary Prospectus legend
(17 CFR 270.498(e)(1)). A Summary
Prospectus that complies with rule 498
is deemed to be a prospectus that is
authorized under Section 10(b) of the
Securities Act and Section 24(g) of the
Investment Company Act of 1940 (15
U.S.C. 80a–1 et seq.).
The purpose of rule 498 is to enable
a fund to provide investors with a
Summary Prospectus containing key
information necessary to evaluate an
investment in the fund. Unlike many
other federal information collections,
which are primarily for the use and
benefit of the collecting agency, 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.
Based on an analysis of fund filings,
the Commission estimates that
approximately 10,536 funds are using a
Summary Prospectus. The Commission
estimates that the annual hourly burden
per fund associated with the
compilation of the information required
on the cover page or the beginning of
the Summary Prospectus is 0.5 hours,
and estimates that the annual hourly
burden per fund to comply with the
website posting requirement is
approximately 1 hour, requiring a total
of 1.5 hours per fund per year.1 Thus the
total annual hour burden associated
with these requirements of the rule is
approximately 15,804.2 The
1 0.5 hours per fund + 1 hour per fund = 1.5 hours
per fund.
2 1.5 hours per fund × 10,536 fund = 15,804
hours.

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Federal Register / Vol. 86, No. 2 / Tuesday, January 5, 2021 / Notices
Commission estimates that the annual
cost burden is approximately $18,105
per fund, for a total annual cost burden
of approximately $190,754,280.3
Estimates of average burden hours are
made solely for the purposes of the
Paperwork Reduction Act and are not
derived from a comprehensive or even
a representative survey or study of the
costs of Commission rules and forms.
Under rule 498, use of the Summary
Prospectus is voluntary, but the rule’s
requirements regarding provision of the
statutory prospectus upon investor
request are mandatory for funds that
elect to send or give a Summary
Prospectus in reliance upon rule 498.
The information provided under rule
498 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 OMB control
number.
Written comments are invited on: (a)
Whether the collections of information
are necessary for the proper
performance of the functions of the
Commission, including whether the
information has practical utility; (b) the
accuracy of the Commission’s estimate
of the burdens of the collections of
information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burdens of the collections
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 in writing within
60 days of this publication.
Please direct your written comments
to 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].
December 29, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–29155 Filed 1–4–21; 8:45 am]

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BILLING CODE 8011–01–P

DEPARTMENT OF TRANSPORTATION
Maritime Administration
[Docket Number MARAD–2020–0175]

Request for Applications To Be
Considered for Enrollment in the Cable
Security Fleet
Maritime Administration,
Department of Transportation.
ACTION: Notice of application period for
the cable security fleet program.
AGENCY:

The Maritime Administration
(MARAD) requests applications from
owners and/or operators of eligible
vessels to enroll such vessels in the
Cable Security Fleet (CSF). The CSF
Program is a newly-authorized program
intended to maintain a fleet of active,
commercially viable, privately owned
United States-flag cable vessels to meet
national security requirements and to
maintain a United States presence in the
international submarine cable services
market. The CSF will consist of two
vessels. This Notice describes, among
other things, statutory requirements to
apply and to participate in the CSF,
recommendations as to the form and
substance of applications, and a
deadline for submitting applications for
vessel enrollment in the CSF program.
The Maritime Administration will
negotiate agreements ready for
execution with the successful
applicants.

SUMMARY:

Applications to enroll vessels
into the CSF should be made by
February 4, 2021. Applications should
be submitted to the address listed in the
ADDRESSES section below.
ADDRESSES: Applications should be
addressed to the Director, Office of
Sealift Support, Maritime
Administration, U.S. Department of
Transportation, 1200 New Jersey
Avenue SE, Room W25–310,
Washington, DC 20590.
FOR FURTHER INFORMATION CONTACT:
Rhonda Davis, Office of Sealift Support,
Maritime Administration, U.S.
Department of Transportation,
Telephone (202) 366–6379, or
[email protected]. For legal
questions, contact Joseph Click,
Attorney Advisor, Maritime
Administration, U.S. Department of
Transportation, Telephone (202) 366–
5882, or [email protected].
SUPPLEMENTARY INFORMATION:
DATES:

I. Program Overview

3 $18,105

per fund × 10,536 fund = $190,754,280.

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46 U.S.C. 53202(a)(1) directs the
Secretary of Transportation (Secretary),
in consultation with the Secretary of
Defense (SecDef), to establish a fleet of

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355

active, commercially-viable cable
vessels to meet national security
requirements. The Cable Security Fleet,
which will be known as the CSF, will
consist of privately owned, United
States-documented cable vessels, whose
owners or operators will enter into
Operating Agreements with MARAD to
set forth operating qualifications and
criteria in exchange for payments.
Program participants will enter into
Operating Agreements that will require
participants to: Continuously and
actively operate the subject vessels in
the commercial submarine cable
services market (including the laying,
maintenance, and repair of submarine
cables) and provide the United States
Government access to participating
vessels in times of national emergency.
In administering the CSF Program,
MARAD will work with a designated
agency of the Department of Defense
(DoD) to evaluate vessels and operators
and to confirm that operating
agreements meet the objectives of
supporting economic activity and
national security. Establishment of the
CSF is set forth in the United States
Code, Title 46, Chapter 532, referred to
as ‘‘the statute’’ below.
A. Citizenship Requirements for Owners
and Operators
An applicant seeking to enroll its
vessels in CSF must meet certain
qualifications for vessel control and
citizenship. First, an applicant must be
a vessel’s registered owner or operate
the vessel as its principal demise
charterer, such that it operates the
vessel at its own risk and expense.
MARAD will not consider applications
from sub-demise charterers, time
charterers, vessel managers, or other
vessel stakeholders. Additionally,
candidate vessel ownership or operation
must meet the requirements of one of
four citizenship categories:
1. Vessel owned and operated by
United States citizens, known as 50501
Citizens, within the meaning of Section
50501 of Title 46, United States Code;
2. Vessel owned by a U.S. citizen,
known as a 50501 Citizen, under 46
U.S.C. 50501 or United States Citizen
Trust under 46 U.S.C. 53201(11) and
chartered to a United States citizen
eligible to document vessels, known as
a Documentation Citizen, under Chapter
121 of Title 46, United States Code,
subject to:
a. Verifications of the U.S.-citizenship
of the board and principal officers of the
charterer; and
b. Certifications by the charterer that
no treaty, statute, or person would
influence the vessel’s operations in a

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