60 Day Notice

Federal Register / Vol. 86, No. 166 / Tuesday, August 31, 2021 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–491; OMB Control No.
3235–0548]

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

khammond on DSKJM1Z7X2PROD with NOTICES

Extension:
Rule 35d–1

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 (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 for extension
and approval.
Rule 35d–1 (17 CFR 270.35d–1) under
the Investment Company Act of 1940
(15 U.S.C. 80a–1 et seq.) defines as
‘‘materially deceptive and misleading’’
for purposes of Section 35(d), among
other things, a name suggesting that a
registered investment company or series
thereof (a ‘‘fund’’) focuses its
investments in a particular type of
investment or investments, in
investments in a particular industry or
group of industries, or in investments in
a particular country or geographic
region, unless, among other things, the
fund adopts a certain investment policy.
Rule 35d–1 further requires either that
the investment policy is fundamental or
that the fund has adopted a policy to
provide its shareholders with at least 60
days prior notice of any change in the
investment policy (‘‘notice to
shareholders’’). The rule’s notice to
shareholders provision is intended to
ensure that when shareholders purchase
shares in a fund based, at least in part,
on its name, and with the expectation
that it will follow the investment policy
suggested by that name, they will have
sufficient time to decide whether to
redeem their shares in the event that the
fund decides to pursue a different
investment policy.
The Commission estimates that there
are approximately 11,502 open-end and
closed-end funds that have names that
are covered by the rule. The
Commission estimates that of these
11,502 funds, approximately 38 will
provide prior notice to shareholders
pursuant to a policy adopted in

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accordance with this rule per year. The
Commission estimates that the annual
burden associated with the notice to
shareholders requirement of the rule is
20 hours per response, for annual total
of 760 hours per year.

SECURITIES AND EXCHANGE
COMMISSION

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
representative survey or study of the
costs of Commission rules and forms.
Providing prior notice to shareholders
under rule 35d–1 is not mandatory. An
investment company may choose to
have a name that does not indicate that
the fund focuses its investments in a
particular type of investment or
investments, or in investments in a
particular industry or group of industry.
If an investment company does choose
such a name, it will only need to
provide prior notice to shareholders of
a change in its 80% investment policy
if it first has adopted a policy to provide
notice and then has decided to change
this investment policy. The information
provided under rule 35d–1 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.

Self-Regulatory Organizations; Nasdaq
PHLX LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend Equity 7,
Section 3 To Adopt an Enhanced
Market Quality Program

Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the 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.
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: August 25, 2021.
Jill M. Peterson,

[Release No. 34–92754; File No. SR–Phlx–
2021–47]

August 25, 2021.

Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on August
12, 2021, Nasdaq PHLX LLC
(‘‘Exchange’’) filed with the Securities
and Exchange Commission (‘‘SEC’’ or
‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III, below, which Items have been
prepared by the Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Equity 7, Section 3 to adopt an
Enhanced Market Quality Program and
a related credit, as described further
below.
The text of the proposed rule change
is available on the Exchange’s website at
https://listingcenter.nasdaq.com/
rulebook/phlx/rules, at the principal
office of the Exchange, and at the
Commission’s Public Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.

Assistant Secretary.
[FR Doc. 2021–18700 Filed 8–30–21; 8:45 am]

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U.S.C. 78s(b)(1).
CFR 240.19b–4.

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