60 Day Notice

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Federal Register / Vol. 87, No. 9 / Thursday, January 13, 2022 / Notices

used by registered management
investment companies (‘‘funds’’) to file
certified shareholder reports under the
Investment Company Act of 1940 (15
U.S.C. 80a–1 et seq.) (‘‘Investment
Company Act’’) and the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.) (‘‘Exchange Act’’). Specifically,
Form N–CSR is to be used for reports
under section 30(b)(2) of the Investment
Company Act (15 U.S.C. 80a–29(b)(2))
and section 13(a) or 15(d) of the
Exchange Act (15 U.S.C. 78m(a) and
78o(d)), filed pursuant to rule 30b2–1(a)
under the Investment Company Act (17

CFR 270.30b2–1(a)). Reports on Form
N–CSR are to be filed with the
Securities and Exchange Commission
(‘‘Commission’’) no later than 10 days
after the transmission to stockholders of
any report that is required to be
transmitted to stockholders under rule
30e–1 under the Investment Company
Act (17 CFR 270.30e–1). The
information filed with the Commission
permits the verification of compliance
with securities law requirements and
assures the public availability and
dissemination of the information.

The current total annual burden hour
inventory for Form N–CSR is 181,167
hours.1 The hour burden estimates for
preparing and filing reports on Form N–
CSR are based on the Commission’s
experience with the contents of the
form. The number of burden hours may
vary depending on, among other things,
the complexity of the filing and whether
preparation of the reports is performed
by internal staff or outside counsel.
The Commission’s new estimate of
burden hours that will be imposed by
Form N–CSR is as follows:

TABLE 1—SUMMARY OF REVISED BURDEN HOURS FOR REPORTS ON FORM N–CSR
Funds and filings
Number of funds

Number of annual
filings

Number of total
filings

Hour burden per
fund per filing

Total annual hour
burden

(A)

(B)

(C) = (A) × (B)

(D)

(E) = (C) × (D)

2 14,654

2

29,308

7.75

227,137

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Form N–CSR .........................................

In total, the Commission estimates it
will take 227,137 burden hours per year
for all funds to prepare and file reports
on Form N–CSR. Commission staff
estimates that the annual cost of outside
services associated with Form N–CSR is
approximately $203 per fund and the
total annual external cost burden for
Form N–CSR is $5,949,524.3
Estimates of average burden hours
and costs are made solely for 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. Compliance with the information
collection requirements of Form N–CSR
is mandatory. Responses to the
collection of information 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 collection of information is
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 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
1 This estimate is based on the following
calculation: 179,443 (previous burden estimate) +
1,724.5 (additional internal burden) = 181,167.5
hours.

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Annual time burden (hours)

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 John R.
Pezzullo, 100 F Street NE, Washington,
DC 20549; or send an email to: PRA_
[email protected].
All submissions should refer to File
Number 270–512. This file number
should be included on the subject line
if email is used. The Commission will
post all comments on the Commission’s
internet website (http://www.sec.gov).
All comments received will be posted
without change; we do not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly.
Dated: January 10, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022–00589 Filed 1–12–22; 8:45 am]
BILLING CODE 8011–01–P

2 This estimate is based on the number of
registered management companies as calculated by
the filing type: 1,403 N–1A registrants (13,248
funds); 693 N–2 registrants (691 funds); 5 N–3
registrants (14 funds); 417 N–4 registrants (418

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SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–792; OMB Control No.
3235–0739]

Proposed Collection; Comment
Request; Extension: Order Granting a
Conditional Exemption Under the
Securities Exchange Act of 1934 From
the Confirmation Requirements of
Exchange Act Rule 10b–10(a) for
Certain Transactions in Money Market
Funds
Upon Written Request, Copies Available
From: U.S. Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
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 the Order Granting a
Conditional Exemption under the
Securities Exchange Act of 1934 from
the Confirmation Requirements of
Exchange Act Rule 10b–10(a) for Certain
Transactions in Money Market Funds
(17 CFR 240.10b–10(a)). The
Commission plans to submit this
existing collection of information to the
Office of Management and Budget
(‘‘OMB’’) for extension and approval.
funds); 235 N–6 registrants (236 funds); 47 N–8B–
2 registrants (47 funds).
3 This estimate is based on the following
calculation: 14,654 funds × $203 per filing × 2
filings per year = $5,949,524.

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Federal Register / Vol. 87, No. 9 / Thursday, January 13, 2022 / Notices
Rule 10b–10 under the Securities
Exchange Act of 1934 (‘‘Exchange Act’’)
(15 U.S.C. 78a et seq.) generally requires
broker-dealers to provide customers
with specified information relating to
their securities transactions at or before
the completion of the transactions.
Exchange Act Rule 10b–10(b), however,
provides an exception from this
requirement for certain transactions in
money market funds that attempt to
maintain a stable net asset value when
no sales load or redemption fee is
charged. The exception permits brokerdealers to provide transaction
information to money market fund
shareholders on a monthly, rather than
immediate, basis, subject to the
conditions. Amendments to Rule 2a–7
(17 CFR 270.2a–7) of the Investment
Company Act of 1940 (‘‘Investment
Company Act’’) (15 U.S.C. 80a–1 et seq.)
among other things, means, absent an
exemption, broker-dealers would not be
able to continue to rely on the exception
under Exchange Act Rule 10b–10(b) for
transactions in money market funds
operating in accordance with
Investment Company Act Rule 2a–
7(c)(1)(ii).1
In 2015, the Commission issued an
Order Granting a Conditional
Exemption under the Securities
Exchange Act of 1934 From The
Confirmation Requirements of Exchange
Act Rule 10b–10(a) For Certain
Transactions In Money Market Funds
(‘‘Order’’) 2 which allows broker-dealers,
subject to certain conditions, to provide
transaction information to investors in
any money market fund operating
pursuant to Investment Company Act
Rule 2a–7(c)(1)(ii) on a monthly basis in
lieu of providing immediate
confirmations as required under
Exchange Act Rule 10b–10(a) (‘‘the
Exemption’’). Accordingly, to be eligible
for the Exemption, a broker-dealer must
(1) provide an initial written
notification to the customer of its ability
to request delivery of immediate
confirmations consistent with the
written notification requirements of
Exchange Act Rule 10b–10(a), and (2)

not receive any such request to receive
immediate confirms from the customer.
As of December 31, 2020, the
Commission estimates there are
approximately 154 broker-dealers that
clear customer transactions or carry
customer funds and securities who
would be responsible for providing
customer confirmations. The
Commission estimates that the cost of
the ongoing notification requirements
would be minimal, approximately 5% of
the initial burden which was previously
estimated to be 36 hours per brokerdealer, or approximately 1.8 hours per
broker-dealer per year, to provide
ongoing notifications, or a total burden
of 277 hours annually for the 154
carrying broker-dealers.
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 shall have practical utility;
(b) the accuracy of the Commission’s
estimate of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information to be 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 John
Pezzullo, 100 F Street NE, Washington,
DC 20549, or send an email to: PRA_
[email protected].
Dated: January 10, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022–00587 Filed 1–12–22; 8:45 am]
BILLING CODE 8011–01–P

See generally Money Market Fund Reform;
Amendments to Form PF, Securities Act Release
No. 9408, Investment Advisers Act Release No.
3616, Investment Company Act Release No. 30551
(June 5, 2013), 78 FR 36834, 36934 (June 19, 2013);
see also Exchange Act Rule 10b–10(b)(1), 17 CFR
240.10b–10(b)(1) (limiting alternative monthly
reporting to money market funds that attempt to
maintain a stable NAV).
2 See Order Granting a Conditional Exemption
Under the Securities Exchange Act of 1934 From
the Confirmation Requirements of Exchange Act
Rule 10b–10(a) for Certain Transactions in Money
Market Funds, Exchange Act Release No. 34–76480
(Nov. 19, 2015), 80 FR 73849 (Nov. 25, 2015).

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SELECTIVE SERVICE SYSTEM
Reasonable Accommodation,
Religious Exception, and Medical
Exception Health Records
Selective Service System.
Notice of new system of records.

AGENCY:
ACTION:

Pursuant to the provisions of
the Privacy Act of 1974, as amended,

SUMMARY:

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the Selective Service System (SSS) is
issuing a public notice of its intent to
create a Privacy Act System of Records
titled, ‘‘Reasonable Accommodation,
Religious Exception, and Medical
Exception Health Records.’’ This System
of Records notice (SORN) describes
Selective Service’s collection,
maintenance, and use of records related
to requests for reasonable
accommodation under Title VII of the
Civil Rights Act of 1964 or the
applicable provisions of the Americans
with Disabilities Act as applied to the
Federal Government through the
Rehabilitation Act and the Religious
Freedom Restoration Act of 1993. This
newly established system will be
included in the SSS inventory of record
systems.
DATES: Please submit comments on or
before 30 days after date of publication
in the Federal Register. This new
system is effective upon publication in
today’s Federal Register, with the
exception of the routine uses, which are
effective 30 days after date of
publication in the Federal Register.
ADDRESSES: Written comments and
recommendations should be sent to
[email protected] or to the Selective
Service System, Mr. Daniel Mira, Senior
Agency Official for Privacy, 1515
Wilson Boulevard, Arlington, Virginia
22209–2425. A copy of the comments
should be sent to the Office of
Information and Regulatory Affairs,
Attention: Desk Officer, Selective
Service System, Office of Management
and Budget, New Executive Office
Building, Room 3235, Washington, DC
20503.
FOR FURTHER INFORMATION CONTACT: Mr.
Daniel Mira, Senior Agency Official for
Privacy, Office of Information
Technology, Selective Service System,
1515 Wilson Boulevard, Arlington,
Virginia 22209–2425.
SUPPLEMENTARY INFORMATION: Executive
Order 14043, Requiring Coronavirus
Disease 2019 Vaccination for Federal
Employees, signed September 9, 2021,
establishes mandatory requirements for
Federal executive agencies to
implement a program to require COVID–
19 vaccinations for Federal employees,
with some exceptions as required by
law. Additionally, Executive Order
14042, Ensuring Adequate COVID
Safety Protocols for Federal Contractors,
signed September 9, 2021, establishes
requirements for Federal executive
agencies to implement workplace safety
protocols for contractors and
subcontractors to protect the health and
safety of the Federal workforce and
members of the public. SSS is
implementing these requirements to

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