60 Day Notice

20776

Federal Register / Vol. 86, No. 75 / Wednesday, April 21, 2021 / Notices

• Send an email to rule-comments@
sec.gov. Please include File Number SR–
Phlx–2021–23 on the subject line.

SECURITIES AND EXCHANGE
COMMISSION

Paper Comments

[SEC File No. 270–151, OMB Control No.
3235–0291]

• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE,
Washington, DC 20549–1090.

Proposed Collection; Comment
Request

All submissions should refer to File
Number SR–Phlx–2021–23. This file
number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
internet website (http://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
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–Phlx–2021–23 and should
be submitted on or before May 12, 2021.

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For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.19
J. Matthew DeLesDernier,
Assistant Secretary.

[FR Doc. 2021–08151 Filed 4–20–21; 8:45 am]
BILLING CODE 8011–01–P

19 17

CFR 200.30–3(a)(12).

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18:12 Apr 20, 2021

Jkt 253001

Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Extension:
Rules 17Adb–6 and 17Adb–7

Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the existing collection of information
provided for in Rule 17Adb–6 (17 CFR
240.17Adb–6) and Rule 17Adb–7 (17
CFR 240.17Adb–7) under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.) (‘‘Exchange Act’’). The
Commission plans to submit this
existing collection of information to the
Office of Management and Budget
(‘‘OMB’’) for extension and approval.
Rule 17Adb–6 requires every
registered transfer agent to make and
keep current records about a variety of
information, such as: (1) Specific
operational data regarding the time
taken to perform transfer agent activities
(to ensure compliance with the
minimum performance standards in
Rule 17Adb–2 (17 CFR 240.17Adb–2));
(2) written inquiries and requests by
shareholders and broker-dealers and
response time thereto; (3) resolutions,
contracts, or other supporting
documents concerning the appointment
or termination of the transfer agent; (4)
stop orders or notices of adverse claims
to the securities; and (5) all canceled
registered securities certificates.
Rule 17Adb–7 requires each
registered transfer agent to retain the
records specified in Rule 17Adb–6 in an
easily accessible place for a period of six
months to six years, depending on the
type of record or document. Rule
17Adb–7 also specifies the manner in
which records may be maintained using
electronic, microfilm, and microfiche
storage methods.
These recordkeeping requirements are
designed to ensure that all registered
transfer agents are maintaining the
records necessary for them to monitor
and keep control over their own
performance and for the Commission to
adequately examine registered transfer
agents on an historical basis for
compliance with applicable rules.

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The Commission estimates that
approximately 359 registered transfer
agents will spend a total of 179,500
hours per year complying with Rules
17Adb–6 and 17Adb–7 (500 hours per
year per transfer agent).
The retention period under Rule
17Adb–7 for the recordkeeping
requirements under Rule 17Adb–6 is six
months to six years, depending on the
particular record or document. The
recordkeeping and retention
requirements under Rules 17Adb–6 and
17Adb–7 are mandatory to assist the
Commission and other regulatory
agencies with monitoring transfer agents
and ensuring compliance with the rules.
These rules do not involve the
collection of confidential information.
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
estimates of the burden of the proposed
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 in
writing within 60 days of this
publication.
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, 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].
Dated: April 15, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–08145 Filed 4–20–21; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–613, OMB Control No.
3235–0712]

Submission for OMB Review;
Comment Request
Upon Written Request Copies Available
From: Securities and Exchange

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Federal Register / Vol. 86, No. 75 / Wednesday, April 21, 2021 / Notices
Director/Chief Information Officer,
Securities and Exchange Commission, c/
o Cynthia Roscoe, 100 F Street NE,
Washington, DC 20549, or by sending an
email to: [email protected].

Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736

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Extension:
Credit Risk Retention—Regulation RR

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 this
request for extension of the previously
approved collection of information
discussed below.
Credit Risk Retention (‘‘Regulation
RR’’) (17 CFR 246.1 through 246.22)
recordkeeping and disclosure
requirements implement Section 15G of
the Securities Exchange Act of 1934 (15
U.S.C. 78o–11) Section 15G clarifies the
scope and application of Section 306(a)
of the Sarbanes-Oxley Act of 2002 (15
U.S.C. 7244(a)). Section 306(a) of the
Sarbanes-Oxley Act requires, among
other things, an issuer to provide timely
notice to its directors and executive
officers and to the Commission of the
imposition of a blackout period that
would trigger a trading prohibition
under Section 306(a)(1) of the SarbanesOxley Act. Section 306(a)(1) prohibits
any director or executive officer of an
issuer of any equity security, from
directly or indirectly, purchasing,
selling or otherwise acquiring or
transferring any equity security of that
issuer during the blackout period with
respect to such equity security, if the
director or executive officer acquired
the equity security in connection with
his or her service or employment.
Approximately 1,647 issuers file using
Regulation RR responses and it takes
approximately 14.389 hours per
response. We estimate that 75% of the
14.389 hours per response (10.792
hours) is prepared by the registrant for
a total annual reporting burden of
17,774 hours (10.792 hours per response
× 1,647 responses).
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:
www.reginfo.gov. 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 to (i) www.reginfo.gov/public/do/
PRAMain and (ii) David Bottom,

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18:12 Apr 20, 2021

Jkt 253001

Dated: April 15, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–08137 Filed 4–20–21; 8:45 am]
BILLING CODE 8011–01–P

20777

provide that the fidelity insurance
company will provide all funds covered
by the bond with a copy of the
agreement, a copy of any claim on the
bond, and notification of the terms of
the settlement of any claim prior to
execution of that settlement. Finally, a
fund that is insured by a joint bond
must enter into an agreement with all
other parties insured by the joint bond
regarding recovery under the bond.
Filings with the Commission

SECURITIES AND EXCHANGE
COMMISSION[SEC File No. 270–208,
OMB Control No. 3235–0213]
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
Extension:
Rule 17g–1

Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 350l-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.
Rule 17g–1 (17 CFR 270.17g–1) under
the Investment Company Act of 1940
(the ‘‘Act’’) (15 U.S.C. 80a–17(g))
governs the fidelity bonding of officers
and employees of registered
management investment companies
(‘‘funds’’) and their advisers. Rule 17g–
1 requires, in part, the following:
Independent Directors’ Approval
The form and amount of the fidelity
bond must be approved by a majority of
the fund’s independent directors at least
once annually, and the amount of any
premium paid by the fund for any ‘‘joint
insured bond,’’ covering multiple funds
or certain affiliates, must be approved
by a majority of the fund’s independent
directors.
Terms and Provisions of the Bond
The amount of the bond may not be
less than the minimum amounts of
coverage set forth in a schedule based
on the fund’s gross assets. The bond
must provide that it shall not be
cancelled, terminated, or modified
except upon 60-days written notice to
the affected party and to the
Commission. In the case of a joint
insured bond, 60-days written notice
must also be given to each fund covered
by the bond. A joint insured bond must

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Upon the execution of a fidelity bond
or any amendment thereto, a fund must
file with the Commission within 10
days: (i) A copy of the executed bond or
any amendment to the bond, (ii) the
independent directors’ resolution
approving the bond, and (iii) a
statement as to the period for which
premiums have been paid on the bond.
In the case of a joint insured bond, a
fund must also file: (i) A statement
showing the amount the fund would
have been required to maintain under
the rule if it were insured under a single
insured bond; and (ii) the agreement
between the fund and all other insured
parties regarding recovery under the
bond. A fund must also notify the
Commission in writing within five days
of any claim or settlement on a claim
under the fidelity bond.
Notices to Directors
A fund must notify by registered mail
each member of its board of directors of:
(i) Any cancellation, termination, or
modification of the fidelity bond at least
45 days prior to the effective date; and
(ii) the filing or settlement of any claim
under the fidelity bond when
notification is filed with the
Commission.
Rule 17g–1’s independent directors’
annual review requirements, fidelity
bond content requirements, joint bond
agreement requirement, and the
required notices to directors are
designed to ensure the safety of fund
assets against losses due to the conduct
of persons who may obtain access to
those assets. These requirements also
seek to facilitate oversight of a fund’s
fidelity bond. The rule’s required filings
with the Commission are designed to
assist the Commission in monitoring
funds’ compliance with the fidelity
bond requirements.
Based on conversations with
representatives in the fund industry, the
Commission staff estimates that for each
of the estimated 2.200 active funds
(respondents),1 the average annual
1 Based on a review of fund filings for the threeyear period from 2018 to 2020, Commission staff

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