60 Day Notice

Federal Register / Vol. 87, No. 105 / Wednesday, June 1, 2022 / Notices
and updates to inflation-linked
adjustments. Notice at 7.

FOR FURTHER INFORMATION CONTACT:

David A. Trissell, General Counsel, at
202–789–6820.

III. Commission Action

SUPPLEMENTARY INFORMATION:

Table of Contents
I. Introduction
II. Contents of Filing
III. Commission Action
IV. Ordering Paragraphs

I. Introduction
On May 23, 2022, the Postal Service
filed notice announcing its intention to
change prices not of general
applicability for Inbound Parcel Post (at
Universal Postal Union (UPU) Rates)
effective July 1, 2022.1
II. Contents of Filing

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With the Notice, the Postal Service
filed: A redacted copy of the UPU
International Bureau (IB) Circular 49
that contains the new provisional
prices,2 a copy of the certification
required under 39 CFR 3035.105(c)(2),
redacted Postal Service data used to
justify any bonus payments, a redacted
copy of Governors’ Decision No. 19–1,
and a redacted copy of UPU IB Circular
92, which contains information for a
prior period to support the Postal
Service’s contentions about cost
coverage. Notice at 2–3; see id.
Attachments 2–6. The Postal Service
also filed redacted Excel versions of
financial workpapers. Notice at 3.
Additionally, the Postal Service filed
an unredacted copy of Governors’
Decision No. 19–1, an unredacted copy
of the new prices, and related financial
information under seal. See id. at 2. The
Postal Service also filed an application
for non-public treatment of materials
filed under seal. Notice, Attachment 1.
The Postal Service states that it has
provided supporting documentation as
required by Order No. 2102 and Order
No. 2310.3 In addition, the Postal
Service states that it provided citations
and copies of relevant UPU IB Circulars
1 Notice of the United States Postal Service of
Filing Changes in Rates Not of General
Applicability for Inbound Parcel Post (at UPU
Rates), and Application for Non-Public Treatment,
May 23, 2022, at 1 (Notice).
2 The Postal Service explains that the prices are
provisional because it expects the Postal Operations
Council (POC) to issue revised rates in a re-issued
circular during June of 2022. Notice at 3–4. The
Postal Service does not anticipate the revised rates
to differ from the rates submitted with the Notice.
Id. at 4.
3 Notice at 4–5. See Docket No. CP2014–52, Order
Accepting Price Changes for Inbound Air Parcel
Post (at UPU Rates), June 26, 2014, at 6 (Order No.
2102); Docket No. CP2015–24, Order Accepting
Changes in Rates for Inbound Parcel Post (at UPU
Rates), December 29, 2014, at 4 (Order No. 2310).

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The Commission establishes Docket
No. CP2022–66 for consideration of
matters raised by the Notice.
The Commission invites comments on
whether the Postal Service’s filing is
consistent with 39 U.S.C. 3632–3633,
and 39 CFR part 3035. Comments are
due no later than June 2, 2022. The
public portions of the filing can be
accessed via the Commission’s website
(http://www.prc.gov).
The Commission appoints Kenneth R.
Moeller to serve as Public
Representative in this docket.

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Dated: May 26, 2022.
Stephanie Hillyard,
Secretary to the Board.
[FR Doc. 2022–11793 Filed 5–27–22; 11:15 am]
BILLING CODE 7905–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–217, OMB Control No.
3235–0241]

Proposed Collection; Comment
Request; Extension: Rule 206(4)–2

Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
IV. Ordering Paragraphs
20549–2736
It is ordered:
Notice is hereby given that pursuant
1. The Commission establishes Docket
to the Paperwork Reduction Act of 1995
No. CP2022–66 for consideration of the
(44 U.S.C. 3501 et seq.), the Securities
matters raised by the Postal Service’s
and Exchange Commission
Notice.
2. Pursuant to 39 U.S.C. 505, Kenneth (‘‘Commission’’) is soliciting comments
on the collection of information
R. Moeller is appointed to serve as an
summarized below. The Commission
officer of the Commission to represent
the interests of the general public in this plans to submit this collection of
information to the Office of
proceeding (Public Representative).
Management and Budget (‘‘OMB’’) for
3. Comments are due no later than
extension and approval.
June 2, 2022.
Rule 206(4)–2 (17 CFR 275.206(4)–2)
4. The Secretary shall arrange for
under the Investment Advisers Act of
publication of this order in the Federal
1940 (15 U.S.C. 80b–1 et seq.) governs
Register.
the custody of funds or securities of
By the Commission.
clients by Commission-registered
Erica A. Barker,
investment advisers. Rule 206(4)–2
Secretary.
requires each registered investment
adviser that has custody of client funds
[FR Doc. 2022–11708 Filed 5–31–22; 8:45 am]
or securities to maintain those client
BILLING CODE 7710–FW–P
funds or securities with a broker-dealer,
bank or other ‘‘qualified custodian.’’ 1
The rule requires the adviser to
promptly notify clients as to the place
RAILROAD RETIREMENT BOARD
and manner of custody, after opening an
Sunshine Act Meetings
account for the client and following any
changes.2 If an adviser sends account
TIME AND DATE: 10:00 a.m., June 8, 2022.
statements to its clients, it must insert
PLACE: Members of the public wishing
a legend in the notice and in subsequent
to attend the meeting must submit a
account statements sent to those clients
written request at least 24 hours prior to urging them to compare the account
the meeting to receive dial-in
statements from the custodian with
information. All requests must be sent
those from the adviser.3 The adviser
to [email protected].
also must have a reasonable basis, after
STATUS: This meeting will be open to the due inquiry, for believing that the
qualified custodian maintaining client
public.
funds and securities sends account
MATTERS TO BE CONSIDERED:
statements directly to the advisory
1. SCOTUS Update
clients at least quarterly, identifying the
2. Disposition of Current Matters with
amount of funds and of each security in
Two Concurring Votes
the account at the end of the period and
3. FY 22 Hiring Progress
setting forth all transactions in the
4. Legislative Report from Office of
account during that period.4 The client
Legislative Affairs
CONTACT PERSON FOR MORE INFORMATION:

Stephanie Hillyard, Secretary to the
Board, (312) 751–4920.
Authority: 5 U.S.C. 552b.

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206(4)–2(a)(1).
206(4)–2(a)(2).
3 Rule 206(4)–2(a)(2).
4 Rule 206(4)–2(a)(3).
2 Rule

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Federal Register / Vol. 87, No. 105 / Wednesday, June 1, 2022 / Notices

funds and securities of which an adviser
has custody must undergo an annual
surprise examination by an independent
public accountant to verify client assets
pursuant to a written agreement with
the accountant that specifies certain
duties.5 Unless client assets are
maintained by an independent
custodian (i.e., a custodian that is not
the adviser itself or a related person),
the adviser also is required to obtain or
receive a written report of the internal
controls relating to the custody of those
assets from an independent public
accountant that is registered with and
subject to regular inspection by the
Public Company Accounting Oversight
Board (‘‘PCAOB’’).6
The rule exempts advisers from the
rule with respect to clients that are
registered investment companies.
Advisers to limited partnerships,
limited liability companies and other
pooled investment vehicles are excepted
from the account statement delivery and
deemed to comply with the annual
surprise examination requirement if the
limited partnerships, limited liability
companies or pooled investment
vehicles are subject to annual audit by
an independent public accountant
registered with, and subject to regular
inspection by the PCAOB, and the
audited financial statements are
distributed to investors in the pools.7
The rule also provides an exception to
the surprise examination requirement
for advisers that have custody solely
because they have authority to deduct
advisory fees from client accounts,8 and
advisers that have custody solely
because a related person holds the
adviser’s client assets (or has any
authority to obtain possession of them)
and the related person is operationally
independent of the adviser.9
Advisory clients use this information
to confirm proper handling of their
accounts. The Commission’s staff uses
the information obtained through this
collection in its enforcement, regulatory
and examination programs. Without the
information collected under the rule,
the Commission would be less efficient
and effective in its programs and clients
would not have information valuable for
monitoring an adviser’s handling of
their accounts.
The respondents to this information
collection are investment advisers
registered with the Commission and
have custody of clients’ funds or
securities. We estimate that 8,057

advisers would be subject to the
information collection burden under
rule 206(4)–2. The number of responses
under rule 206(4)–2 will vary
considerably depending on the number
of clients for which an adviser has
custody of funds or securities, and the
number of investors in pooled
investment vehicles that the adviser
manages. It is estimated that the average
number of responses annually for each
respondent would be 6,830, and an
average time of 0.00524 hour per
response. The annual aggregate burden
for all respondents to the requirements
of rule 206(4)–2 is estimated to be
288,202 hours.
The estimated average burden hours
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
cost of Commission rules and forms.
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 by August 1, 2022.
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: May 25, 2022
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022–11663 Filed 5–31–22; 8:45 am]
BILLING CODE 8011–01–P

206(4)–2(a)(4).
206(4)–2(a)(6).
7 Rule 206(4)–2(b)(4).
8 Rule 206(4)–2(b)(3).
9 Rule 206(4)–2 (b)(6).
6 Rule

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[Release No. 34–94980; File No. SR–ICC–
2022–003]

Self-Regulatory Organizations; ICE
Clear Credit LLC; Order Approving
Proposed Rule Change Relating to the
ICC Governance Playbook
May 25, 2022.

I. Introduction
On April 4, 2022, ICE Clear Credit
LLC (‘‘ICC’’) filed with the Securities
and Exchange Commission (the
‘‘Commission’’), pursuant to Section
19(b)(1) of the Securities Exchange Act
of 1934 (the ‘‘Act’’) 1 and Rule 19b–4,2
a proposed rule change to revise the ICC
Governance Playbook.3 The proposed
rule change was published for comment
in the Federal Register on April 12,
2022.4 The Commission did not receive
comments regarding the proposed rule
change. For the reasons discussed
below, the Commission is approving the
proposed rule change.
II. Description of the Proposed Rule
Change
A. Background
The ICC Governance Playbook
consolidates governance arrangements
set forth in ICC’s Rules, operating
agreement, and other ICC policies and
procedures. The Governance Playbook
contains information regarding the
governance structure at ICC, including
the Board, committees, and
management.
B. Changes to the Governance Playbook
The proposal would make
clarifications and updates regarding the
roles and responsibilities of the ICC
Legal Department and internal
committees involved in the governance
process.5 Specifically, the proposal
would amend Section I of the
Governance Playbook, which describes
the purpose of the document, to state
that the ICC Legal Department will
review and amend the Governance
Playbook as needed when there are
circumstances that may impact the
governance procedures of ICC, such as
1 15

U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 Capitalized terms used but not defined herein
have the meanings specified in the Rules and
Governance Playbook.
4 Self-Regulatory Organizations; ICE Clear Credit
LLC; Notice of Filing of Proposed Rule Change
Relating to the ICC Governance Playbook; Exchange
Act Release No. 34–94616 (Apr. 6, 2022), 87 FR
21687 (Apr. 12, 2022) (SR–ICC–2022–003)
(‘‘Notice’’).
5 The description that follows is substantially
excerpted from the Notice, 87 FR at 21687–21688.
2 17

5 Rule

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