30 Day Notice

3130

Federal Register / Vol. 87, No. 13 / Thursday, January 20, 2022 / Notices

or archived webcast by accessing a link
under ‘‘Webcast of Events’’ on the NTSB
home page at www.ntsb.gov.
There may be changes to this event
due to the evolving situation concerning
the novel coronavirus (COVID–19).
Schedule updates, including weatherrelated cancellations, are also available
at www.ntsb.gov.
The National Transportation Safety
Board is holding this meeting under the
Government in the Sunshine Act, 5
U.S.C. 552(b).
Dated: Friday, January 14, 2022.
Candi R. Bing,
Federal Register Liaison Officer.
[FR Doc. 2022–01138 Filed 1–18–22; 11:15 am]
BILLING CODE 7533–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–218, OMB Control No.
3235–0242]

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

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Extension:
Rule 206(4)–3

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 approval of extension of the
previously approved collection of
information discussed below.
Rule 206(4)–3 (17 CFR 275.206(4)–3)
under the Investment Advisers Act of
1940, which is entitled ‘‘Cash Payments
for Client Solicitations,’’ provides
restrictions on cash payments for client
solicitations. The rule requires that an
adviser pay all solicitors’ fees pursuant
to a written agreement. When an adviser
will provide only impersonal advisory
services to the prospective client, the
rule imposes no disclosure
requirements. When the solicitor is
affiliated with the adviser and the
adviser will provide individualized
advisory services to the prospective
client, the solicitor must, at the time of
the solicitation or referral, indicate to
the prospective client that he is
affiliated with the adviser. When the
solicitor is not affiliated with the
adviser and the adviser will provide
individualized advisory services to the
prospective client, the solicitor must, at

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the time of the solicitation or referral,
provide the prospective client with a
copy of the adviser’s brochure and a
disclosure document containing
information specified in rule 206(4)–3.
Amendments to rule 206(4)–3, adopted
in 2010 in connection with rule 206(4)–
5, specify that solicitation activities
involving a government entity, as
defined in rule 206(4)–5, are subject to
the additional limitations of rule
206(4)–5. In December 2020, the
Commission adopted a single marketing
rule which merged certain existing
provisions of rule 206(4)–3 into
amendments to rule 206(4)–1. In light of
these 2020 amendments, the
Commission has rescinded rule 206(4)–
3, effective November 2, 2022.
Notwithstanding the rescission of rule
206(4)–3, the Office of Management and
Budget (the ‘‘OMB’’) has requested that
the Commission submit documents in
connection with the extension of rule
206(4)–3 for the period covering
February 28, 2022 to November 2, 2022,
the effective date of the discontinuance
of rule 206(4)–3.
To the extent that the OMB has
requested this collection of information,
the information rule 206(4)–3 requires is
necessary to inform advisory clients
about the nature of the solicitor’s
financial interest in the
recommendation so the prospective
clients may consider the solicitor’s
potential bias, and to protect clients
against solicitation activities being
carried out in a manner inconsistent
with the adviser’s fiduciary duty to
clients. Rule 206(4)–3 is applicable to
all Commission registered investment
advisers. The Commission believes that
approximately 3,829 of these advisers
have cash referral fee arrangements. The
rule requires approximately 7.04 burden
hours per year per adviser and results in
a total of approximately 26,956 total
burden hours (7.04 × 3,829) for all
advisers.
The disclosure requirements of rule
206(4)–3 do not require recordkeeping
or record retention. The collections of
information requirements under the
rules are mandatory. Information subject
to the disclosure requirements of rule
206(4)–3 is not submitted to the
Commission. The disclosures pursuant
to the rule are 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

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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 John R.
Pezzullo, 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 14, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022–01051 Filed 1–19–22; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–641, OMB Control No.
3235–0685]

Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: US Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Extension:
Rules 3a68–2 and 3a68–4(c)

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 (‘‘SEC’’) has
submitted to the Office of Management
and Budget (‘‘OMB’’) a request for
approval of extension of the previously
approved collection of information
provided for the following rules: Rules
3a68–2 and 3a68–4(c) under the
Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.).
Rule 3a68–2 creates a process for
interested persons to request a joint
interpretation by the SEC and the
Commodity Futures Trading
Commission (‘‘CFTC’’) (together with
the SEC, the ‘‘Commissions’’) regarding
whether a particular instrument (or
class of instruments) is a swap, a
security-based swap, or both (i.e., a
mixed swap). Under Rule 3a68–2, a
person provides to the Commissions a
copy of all material information

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Federal Register / Vol. 87, No. 13 / Thursday, January 20, 2022 / Notices
regarding the terms of, and a statement
of the economic characteristics and
purpose of, each relevant agreement,
contract, or transaction (or class
thereof), along with that person’s
determination as to whether each such
agreement, contract, or transaction (or
class thereof) should be characterized as
a swap, security-based swap, or both
(i.e., a mixed swap). The Commissions
also may request the submitting person
to provide additional information.
The SEC expects 25 requests pursuant
to Rule 3a68–2 per year. The SEC
estimates the total paperwork burden
associated with preparing and
submitting each request would be 20
hours to retrieve, review, and submit the
information associated with the
submission. This 20 hour burden is
divided between the SEC and the CFTC,
with 10 hours per response regarding
reporting to the SEC and 10 hours of
response regarding third party
disclosure to the CFTC.1 The SEC
estimates this would result in an
aggregate annual burden of 500 hours
(25 requests × 20 hours/request).
The SEC estimates that the total costs
resulting from a submission under Rule
3a68–2 would be approximately $12,000
for outside attorneys to retrieve, review,
and submit the information associated
with the submission. The SEC estimates
this would result in aggregate costs each
year of $300,000 (25 requests × 30
hours/request × $400).
Rule 3a68–4(c) establishes a process
for persons to request that the
Commissions issue a joint order
permitting such persons (and any other
person or persons that subsequently
lists, trades, or clears that class of mixed
swap) to comply, as to parallel
provisions only, with specified parallel
provisions of either the Commodity
Exchange Act (‘‘CEA’’) or the Securities
Exchange Act of 1934 (‘‘Exchange Act’’),
and related rules and regulations
(collectively ‘‘specified parallel
provisions’’), instead of being required
to comply with parallel provisions of
both the CEA and the Exchange Act.
The SEC expects ten requests
pursuant to Rule 3a68–4(c) per year.
The SEC estimates that nine of these
requests will have also been made in a
request for a joint interpretation
pursuant to Rule 3a68–2, and one will
not have been. The SEC estimates the
total burden for the one request for
which the joint interpretation pursuant
to 3a68–2 was not requested would be
30 hours, and the total burden
associated with the other nine requests
would be 20 hours per request because

some of the information required to be
submitted pursuant to Rule 3a68–4(c)
would have already been submitted
pursuant to Rule 3a68–2. The burden in
both cases is evenly divided between
the SEC and the CFTC.
The SEC estimates that the total costs
resulting from a submission under Rule
3a68–4(c) would be approximately
$20,000 for the services of outside
attorneys to retrieve, review, and submit
the information associated with the
submission of the one request for which
a request for a joint interpretation
pursuant to Rule 3a68–2 was not
previously made (1 request × 50 hours/
request × $400). For the nine requests
for which a request for a joint
interpretation pursuant to Rule 3a68–2
was previously made, the SEC estimates
the total costs associated with preparing
and submitting a party’s request
pursuant to Rule 3a68–4(c) would be
$6,000 less per request because, as
discussed above, some of the
information required to be submitted
pursuant to Rule 3a68–4(c) already
would have been submitted pursuant to
Rule 3a68–2. The SEC estimates this
would result in an aggregate cost each
year of $126,000 for the services of
outside attorneys (9 requests × 35 hours/
request × $400).
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.
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) MBX.OMB.OIRA.SEC_desk_
[email protected] and (ii) David
Bottom, Director/Chief Information
Officer, Securities and Exchange
Commission, c/o John Pezzullo, 100 F
Street NE, Washington, DC 20549, or by
sending an email to: PRA_Mailbox@
sec.gov.
Dated: January 14, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022–01055 Filed 1–19–22; 8:45 am]
BILLING CODE 8011–01–P

1 The

burdens imposed by the CFTC are included
in this collection of information.

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3131

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–247, OMB Control No.
3235–0259]

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 19h–1

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 19h–1 (17 CFR
240.19h–1), under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.). The Commission plans to submit
this existing collection of information to
the Office of Management and Budget
(‘‘OMB’’) for extension and approval.
Rule 19h–1 prescribes the form and
content of notices and applications by
self-regulatory organizations (‘‘SROs’’)
regarding proposed admissions to, or
continuances in, membership,
participation or association with a
member of any person subject to a
statutory disqualification.
The Commission uses the information
provided in the submissions filed
pursuant to Rule 19h–1 to review
decisions by SROs to permit the entry
into or continuance in the securities
business of persons who have
committed serious misconduct. The
filings submitted pursuant to the Rule
also permit inclusion of an application
to the Commission for consent to
associate with a member of an SRO
notwithstanding a Commission order
barring such association.
The Commission reviews filings made
pursuant to the Rule to ascertain
whether it is in the public interest to
permit the employment in the securities
business of persons subject to statutory
disqualification. The filings contain
information that is essential to the staff’s
review and ultimate determination on
whether an association or employment
is in the public interest and consistent
with investor protection.
It is estimated that approximately 20
respondents will make submissions
pursuant to this Rule annually. With
respect to submissions for Rule 19h–1(a)
notices, and based upon past
submissions, the staff estimates that
respondents will make a total of 11
submissions per year. The staff

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