Federal Register 30 Day Notice

Federal Register / Vol. 86, No. 203 / Monday, October 25, 2021 / Notices
may watch the webcast of the meeting
on the Commission’s website at
www.sec.gov.
STATUS: The meeting will begin at 10:00
a.m. and will be open to the public by
webcast on the Commission’s website at
www.sec.gov.
MATTER TO BE CONSIDERED: On October
20, 2021, the Commission issued notice
of the meeting (Release No. 34–93391),
indicating that the meeting is open to
the public and inviting the public to
submit written comments to AMAC.
This Sunshine Act notice is being
issued because a majority of the
Commission may attend the meeting.
The meeting will include a discussion
of matters in the asset management
industry relating to the Evolution of
Advice and the Small Advisers and
Small Funds Subcommittees, including
potential recommendations.
CONTACT PERSON FOR MORE INFORMATION:
For further information, please contact
Vanessa A. Countryman from the Office
of the Secretary at (202) 551–5400.
Authority: 5 U.S.C. 552b.
Dated: October 20, 2021.
Vanessa A. Countryman,
Secretary.

Dated: October 19, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.

[FR Doc. 2021–23266 Filed 10–21–21; 11:15 am]
BILLING CODE 8011–01–P

[FR Doc. 2021–23151 Filed 10–22–21; 8:45 am]

SECURITIES AND EXCHANGE
COMMISSION

BILLING CODE 8011–01–P

[SEC File No. 270–336, OMB Control No.
3235–0379]

SECURITIES AND EXCHANGE
COMMISSION

Submission for OMB Review;
Comment Request

[SEC File No. 270–188, OMB Control No.
3235–0212]

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

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Extension:
Form F–X

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.
Form F–X (17 CFR 239.42) is used to
appoint an agent for service of process
by Canadian issuers registering
securities on Forms F–7, F–8, F–9 or F–
10 under the Securities Act of 1933 (15
U.S.C. 77a et seq.), or filing periodic
reports on Form 40–F under the
Exchange Act of 1934 (15 U.S.C. 78a et
seq.). The information collected must be

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filed with the Commission and is
publicly available. We estimate it takes
approximately 2 hours per response to
prepare Form F–X and the information
is filed by approximately 114
respondents for a total annual reporting
burden of 228 hours (2 hours per
response × 114 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,
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].

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
Extension:
Rule 12b–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 (‘‘OMB’’) for
extension and approval.
Rule 12b–1 under the Investment
Company Act of 1940 (17 CFR 270.12b–
1) permits a registered open-end
investment company (‘‘fund’’) to bear

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expenses associated with the
distribution of its shares, provided that
the fund complies with certain
requirements, including, among other
things, that it adopt a written plan
(‘‘rule 12b–1 plan’’) and that it preserves
in writing any agreements relating to the
rule 12b–1 plan. The rule in part
requires that (i) the adoption or material
amendment of a rule 12b–1 plan be
approved by the fund’s directors,
including its independent directors,
and, in certain circumstances, its
shareholders; (ii) the board review
quarterly reports of amounts spent
under the rule 12b–1 plan; and (iii) the
board, including the independent
directors, consider continuation of the
rule 12b–1 plan and any related
agreements at least annually. Rule 12b–
1 also requires funds relying on the rule
to preserve for six years, the first two
years in an easily accessible place,
copies of the rule 12b–1 plan and any
related agreements and reports, as well
as minutes of board meetings that
describe the factors considered and the
basis for adopting or continuing a rule
12b–1 plan.
Rule 12b–1 also prohibits funds from
paying for distribution of fund shares
with brokerage commissions on their
portfolio transactions. The rule requires
funds that use broker-dealers that sell
their shares to also execute their
portfolio securities transactions, to
implement policies and procedures
reasonably designed to prevent: (i) The
persons responsible for selecting brokerdealers to effect transactions in fund
portfolio securities from taking into
account broker-dealers’ promotional or
sales efforts when making those
decisions; and (ii) a fund, its adviser, or
its principal underwriter, from entering
into any agreement under which the
fund directs brokerage transactions or
revenue generated by those transactions
to a broker-dealer to pay for distribution
of the fund’s (or any other fund’s)
shares.
The board and shareholder approval
requirements of rule 12b–1 are designed
to ensure that fund shareholders and
directors receive adequate information
to evaluate and approve a rule 12b–1
plan and, thus, are necessary for
investor protection. The requirement of
quarterly reporting to the board is
designed to ensure that the rule 12b–1
plan continues to benefit the fund and
its shareholders. The recordkeeping
requirements of the rule are necessary to
enable Commission staff to oversee
compliance with the rule. The
requirement that funds or their advisers
implement, and fund boards approve,
policies and procedures in order to
prevent persons charged with allocating

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