30 Day Notice

khammond on DSKJM1Z7X2PROD with NOTICES

Federal Register / Vol. 88, No. 217 / Monday, November 13, 2023 / Notices
conversations with fund representatives,
it is estimated that rule 31a–1 imposes
an average burden of approximately
1,750 hours annually per series for a
total of 7,000 annual hours per fund.
The estimated total annual burden for
all 2,766 funds subject to the rule
therefore is approximately 19,362,000
hours. Based on conversations with
fund representatives, however, the
Commission staff estimates that even
absent the requirements of rule 31a–1,
90 percent of the records created
pursuant to the rule are the type that
generally would be created as a matter
of normal business practice and to
prepare financial statements. Thus, the
Commission staff estimates that the total
annual burden associated with rule 31a–
1 is 1,936,200 hours.
The estimate of average burden hours
is made solely for the purposes of the
Paperwork Reduction Act, and is not
derived from a comprehensive or even
a representative survey or study. The
collection of information required by
rule 31a–1 is mandatory. Responses will
not be kept confidential. The records
required by rule 31a–1 are required to
be preserved pursuant to rule 31a–2
under the Investment Company Act (17
CFR 270.31a–2). Rule 31a–2 requires
that certain of these records be
preserved permanently, and that others
be preserved six years from the end of
the fiscal year in which any transaction
occurred. In both cases, the records
should be kept in an easily accessible
place for the first two years. 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 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 by December 13, 2023 to (i)
MBX.OMB.OIRA.SEC_desk_officer@
omb.eop.gov 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: [email protected].
Dated: November 7, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–24955 Filed 11–9–23; 8:45 am]
BILLING CODE 8011–01–P

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SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–98860; File No. SR–
CboeBZX–2023–063]

Self-Regulatory Organizations; Cboe
BZX Exchange, Inc.; Notice of
Designation of a Longer Period for
Commission Action on a Proposed
Rule Change To Adopt an Alternative
to the Minimum $4 Price Requirement
for Companies Seeking To List Tier II
Securities on the Exchange
November 6, 2023.

On September 19, 2023, Cboe BZX
Exchange, Inc. (‘‘BZX’’ or the
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’), pursuant to section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘Act’’),1 and Rule 19b–4
thereunder,2 a proposed rule change to
adopt an alternative to the minimum $4
price requirement for companies
seeking to list Tier II securities on the
Exchange. The proposed rule change
was published for comment in the
Federal Register on October 2, 2023.3
Section 19(b)(2) of the Act 4 provides
that within 45 days of the publication of
notice of the filing of a proposed rule
change, or within such longer period up
to 90 days (i) as the Commission may
designate if it finds such longer period
to be appropriate and publishes its
reasons for so finding or (ii) as to which
the self-regulatory organization
consents, the Commission shall either
approve the proposed rule change,
disapprove the proposed rule change, or
institute proceedings to determine
whether the proposed rule change
should be disapproved. The 45th day
after publication of the notice for this
proposed rule change is November 16,
2023. The Commission is extending this
45-day time period.
The Commission finds that it is
appropriate to designate a longer period
within which to take action on the
proposed rule change so that it has
sufficient time to consider the proposed
rule change and the comments received.
Accordingly, pursuant to section
19(b)(2) of the Act,5 the Commission
designates December 31, 2023, as the
date by which the Commission shall
either approve or disapprove, or
institute proceedings to determine
1 15

U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 98532
(Sept. 26, 2023) 88 FR 67852. Comments received
on the proposed rule change are available at:
https://www.sec.gov/comments/sr-cboebzx-2023063/srcboebzx2023063.htm.
4 15 U.S.C. 78s(b)(2).
5 Id.
2 17

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77647

whether to disapprove, the proposed
rule change (File No. SR–CboeBZX–
2023–063).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–24864 Filed 11–9–23; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–184, OMB Control No.
3235–0236]

Submission for OMB Review;
Comment Request; Extension: Form
N–54C
Upon Written Request, Copies Available
From: 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
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission (the
‘‘Commission’’) has submitted to the
Office of Management and Budget a
request for extension of the previously
approved collection of information
discussed below.
Certain investment companies can
elect to be regulated as business
development companies, as defined in
section 2(a)(48) of the Investment
Company Act of 1940 (‘‘Investment
Company Act’’), under sections 55
through 65 of the Investment Company
Act. Under section 54(a) of the
Investment Company Act,1 any
company defined in section 2(a)(48)(A)
and (B) of the Investment Company Act
may, if it meets certain enumerated
eligibility requirements, elect to be
subject to the provisions of Sections 55
through 65 of the Investment Company
Act by filing with the Commission a
notification of election. Under section
54(c) of the Investment Company Act,2
any business development company
may voluntarily withdraw its election
under section 54(a) of the Investment
Company Act by filing a notice of
withdrawal of election with the
Commission. The Commission has
adopted Form N–54C as the form for the
notification of withdrawal of election to
be subject to Sections 55 through 65 of
the Investment Company Act. The
purpose of Form N–54C is to notify the
Commission that the business
6 17

CFR 200.30–3(a)(31).
U.S.C. 80a–53(a).
2 15 U.S.C. 80a–53(c).
1 15

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77648

Federal Register / Vol. 88, No. 217 / Monday, November 13, 2023 / Notices

khammond on DSKJM1Z7X2PROD with NOTICES

development company withdraws its
election to be subject to Sections 55
through 65 of the Investment Company
Act.
The Commission estimates that on
average approximately seven business
development companies file
notifications on Form N–54C each year.
Each of those business development
companies need only make a single
filing of Form N–54C. The Commission
further estimates that this information
collection imposes a burden of one
hour, resulting in a total annual burden
of seven hours. Based on the estimated
wage rate, the total cost to the business
development company industry of the
hour burden for complying with Form
N–54C would be approximately $2,975.3
Futher, based on an estimated external
cost burden of $80 per filing, the total
estimated annual external cost burden
to the business development company
industry for complying with Form N–
54C would be $560.
The collection of information under
Form N–54C is mandatory. The
information provided by the form is 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 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 by December 13, 2023 to (i)
MBX.OMB.OIRA.SEC_desk_officer@
omb.eop.gov 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: [email protected].
3 The industry burden is calculated by
multiplying the total annual hour burden to prepare
Form N–54C (seven) by the estimated hourly wage
rate of $425 for a compliance attorney or other
business development company employee with
similar duties and responsibilities. The estimated
wage figure is based on published rates for
compliance attorneys from the Securities Industry
and Financial Markets Association’s Report on
Management & Professional Earnings in the
Securities Industry 2013, modified by Commission
staff to account for an 1800 hour work-year and
inflation, and multiplied by 5.35 to account for
bonuses, firm size, employee benefits and overhead,
yielding an effective hourly rate of $2,975.

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Dated: November 7, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–24952 Filed 11–9–23; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–317, OMB Control No.
3235–0360]

Submission for OMB Review;
Comment Request; Extension: Form
N–17f–2
Upon Written Request, Copies Available
From: 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
(44 U.S.C. 350l et seq.), the Securities
and Exchange Commission (the
‘‘Commission’’) has submitted to the
Office of Management and Budget a
request for extension of the previously
approved collection of information
discussed below.
Form N–17f–2 (17 CFR 274.220)
under the Investment Company Act is
entitled ‘‘Certificate of Accounting of
Securities and Similar Investments in
the Custody of Management Investment
Companies.’’ Form N–17f–2 is the cover
sheet for the accountant examination
certificates filed under rule 17f–2 (17
CFR 270.17f–2) by registered
management investment companies
(‘‘funds’’) maintaining custody of
securities or other investments. Form
N–17f–2 facilitates the filing of the
accountant’s examination certificates
prepared under rule 17f–2. The use of
the form allows the certificates to be
filed electronically, and increases the
accessibility of the examination
certificates to both the Commission’s
examination staff and interested
investors by ensuring that the
certificates are filed under the proper
Commission file number and the correct
name of a fund.
Commission staff estimates that it
takes: (i) on average 1.25 hours of fund
accounting personnel at a total cost of
$315 to prepare each Form N–17f–2; 1
and (ii) .75 hours of administrative
assistant time at a total cost of $70.50 to
file the Form N–17f–2 with the
1 This estimate is based on the following
calculation: 1.25 × $252 (fund senior accountant’s
hourly rate) = $315.

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Commission.2 Approximately 165 funds
currently file Form N–17f–2 with the
Commission. Commission staff
estimates that on average each fund files
Form N–17f–2 three times annually for
a total annual hourly burden per fund
of approximately 6 hours at a total cost
of $1,156.50. The total annual hour
burden for Form N–17f–2 is therefore
estimated to be approximately 990
hours with a total cost of approximately
$190,822.50.3 Form N–17f–2 does not
impose any paperwork-related cost
burden other than this internal hour
cost.
The estimate of average burden hours
is made solely for the purposes of the
Paperwork Reduction Act, and is not
derived from a comprehensive or even
a representative survey or study of the
costs of Commission rules and forms.
Complying with the collections of
information required by Form N–17f–2
is mandatory for those funds that
maintain custody of their own assets.
Responses 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 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 by December 13, 2023 to (i)
MBX.OMB.OIRA.SEC_desk_officer@
omb.eop.gov 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: [email protected].
Dated: November 7, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–24951 Filed 11–9–23; 8:45 am]
BILLING CODE 8011–01–P
2 This estimate is based on the following
calculation: .75 × $94 (administrative assistant
hourly rate) = $70.50.
3 This estimate is based on the following
calculation: 165 funds × $1,156.50 (total annual cost
per fund) = $190,822.50.

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