Federal Register 60-Day Collection Notice

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Federal Register / Vol. 91, No. 162 / Monday, August 24, 2026 / Notices
collection techniques or other forms of
information technology.
Please direct your written comments
on this 60-Day Collection Notice to
Austin Gerig, Director/Chief Data
Officer, Securities and Exchange
Commission, c/o Tanya Ruttenberg via
email to PaperworkReductionAct@
sec.gov by October 23, 2026.
Dated: August 20, 2026.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2026–17226 Filed 8–21–26; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[OMB Control No. 3235–0222]

lotter on DSK8BHNXB4PROD with NOTICES1

Agency Information Collection
Activities; Proposed Collection;
Comment Request; Extension: Rule
17f–1
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’’) is soliciting comments
on the collections of information
summarized below. The Commission
plans to submit these existing
collections of information to the Office
of Management and Budget for
extension and approval.
Rule 17f–1 (17 CFR 270.17f–1) under
the Investment Company Act of 1940
(the ‘‘Act’’) (15 U.S.C. 80a) is entitled:
‘‘Custody of securities with members of
national securities exchanges.’’ Rule
17f–1 provides that any registered
management investment company
(‘‘fund’’) that wishes to place its assets
in the custody of a national securities
exchange member may do so only under
a written contract that must be ratified
initially and approved annually by a
majority of the fund’s board of directors.
The written contract also must contain
certain specified provisions. In addition,
the rule requires an independent public
accountant to examine the fund’s assets
in the custody of the exchange member
at least three times during the fund’s
fiscal year. The rule requires the written
contract and the certificate of each
examination to be transmitted to the
Commission. The purpose of the rule is
to ensure the safekeeping of fund assets.
Commission staff estimates that each
fund makes 1 response and spends an
average of 3.5 hours annually in

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complying with the rule’s requirements.
Commission staff estimates that on an
annual basis it takes: (i) 0.5 hours for the
board of directors 1 to review and ratify
the custodial contracts; and (ii) 3 hours
for the fund’s controller to assist the
fund’s independent public auditors in
verifying the fund’s assets.
Approximately 4 funds rely on the rule
annually, with a total of 4 responses.2
Thus, the total annual internal hour
burden for rule 17f–1 is approximately
14 hours.3
Funds that rely on rule 17f–1
generally use a lawyer to prepare the
custodial contract for the board’s review
and to transmit the contract to the
Commission. Commission staff
estimates the cost of a lawyer to perform
these tasks for a fund each year is
$1,548.4 Funds also must have an
independent public accountant verify
the fund’s assets three times each year
and prepare the certificate of
examination. Commission staff
estimates the annual cost for an
independent public accountant to
perform this service is $11,550.5
Therefore, the total annual cost burden
for a fund that relies on rule 17f–1
would be approximately $13,098.6 As
noted above, the staff estimates that 4
funds rely on rule 17f–1 each year, for
1 Estimates of the number of hours are based on
conversations with representatives of mutual funds
that comply with the rule. The actual number of
hours may vary significantly depending on
individual fund assets. The hour burden for rule
17f–1 does not include preparing the custody
contract because that would be part of customary
and usual business practice.
2 This estimate is based on a review of Form N—
17f–1 filings over the last three years. In 2023 there
were six unique filers, in 2024 there were three
unique filers, and in 2025 there were four unique
filers. (6 + 3 + 4)/3 = 4.33 funds, rounded down to
an estimated 4 funds. 4 funds × 1 response per filer
= 4 responses.
3 This estimate is based on the following
calculation: (4 respondents × 3.5 hours = 14 hours).
The annual burden for rule 17f–1 does not include
time spent preparing Form N–17f–1. The burden for
Form N–17f–1 is included in a separate collection
of information.
4 This estimate is based on the following
calculation: (2 hours of outside counsel time × $774
= $1,548). To calculate the occupational hourly
rates used in this release, the Commission uses
occupational mean hourly wage data from the
Occupational Employment and Wage Statistics
(‘‘OEWS’’) program of the Bureau of Labor Statistics
(‘‘BLS’’) for ‘‘Securities, Commodity Contracts, and
Other Financial Investments and Related
Activities’’ (‘‘NAICS 523’’).
5 Commission staff estimates that this would
require approximately 35 hours for an accountant
to complete at a cost of approximately $330 per
hour. 35 hours × $330 = $11,550. The occupational
wage rate was derived using wage data from the
OEWS program of BLS for NAICS 523.
6 This estimate is based on the following
calculation: $1,548 + $11,550 = $13,098.

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an estimated total annualized external
cost burden of $52,392.7
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. Compliance
with the collections of information
required by rule 17f–1 is mandatory for
funds that place their assets in the
custody of a national securities
exchange member. 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.
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 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
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 respondents, including
through the use of automated collection
techniques or other forms of information
technology.
Please direct your written comments
on this 60-Day Collection Notice to
Austin Gerig, Director/Chief Data
Officer, Securities and Exchange
Commission, c/o Tanya Ruttenberg via
email to PaperworkReductionAct@
sec.gov by October 23, 2026.
Dated: August 20, 2026.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2026–17225 Filed 8–21–26; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[OMB Control No. 3235–0619]

Agency Information Collection
Activities; Proposed Collection;
Comment Request; Extension: Rule
163
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
7 This estimate is based on the following
calculation: 4 funds × $ 13,098 = $52,392.

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