[Federal Register Volume 86, Number 5 (Friday, January 8, 2021)]
[Notices]
[Page 1551]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-00145]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-305, OMB Control No. 3235-0346]


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 34b-1

    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 
collection of information summarized below. The Commission plans to 
submit this existing collection of information to the Office of 
Management and Budget for extension and approval.
    Rule 34b-1 under the Investment Company Act (17 CFR 270.34b-1) 
governs sales material that accompanies or follows the delivery of a 
statutory prospectus (``sales literature''). Rule 34b-1 deems to be 
materially misleading any investment company (``fund'') sales 
literature required to be filed with the Securities and Exchange 
Commission (``Commission'') by Section 24(b) of the Investment Company 
Act (15 U.S.C. 80a-24(b)) that includes performance data, unless the 
sales literature also includes the appropriate uniformly computed data 
and the legend disclosure required in investment company advertisements 
by rule 482 under the Securities Act of 1933 (17 CFR 230.482). 
Requiring the inclusion of such standardized performance data in sales 
literature is designed to prevent misleading performance claims by 
funds and to enable investors to make meaningful comparisons among 
funds.
    The Commission estimates that on average approximately 351 
respondents file 7,362 \1\ responses that include the information 
required by rule 34b-1 each year. The burden resulting from the 
collection of information requirements of rule 34b-1 is estimated to be 
6 hours per response. The total hourly burden for rule 34b-1 is 
approximately 46,278 hours per year in the aggregate.\2\
---------------------------------------------------------------------------

    \1\ The estimated number of responses to rule 34b-1 is composed 
of 7,362 responses filed with FINRA and 351 responses filed with the 
Commission in 2019.
    \2\ 7,713 responses x 6 hours per response = 46,278 hours.
---------------------------------------------------------------------------

    The collection of information under rule 34b-1 is mandatory. The 
information provided under rule 34b-1 is not kept confidential. The 
Commission 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 proposed performance of 
the functions of the agency, including whether information will have 
practical utility; (b) the accuracy of the agency'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. 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 Cynthia 
Roscoe, 100 F Street NE, Washington, DC 20549; or send an email to: 
<a href="/cdn-cgi/l/email-protection#b8e8eaf9e7f5d9d1d4dad7c0f8cbdddb96dfd7ce"><span class="__cf_email__" data-cfemail="1d4d4f5c42507c74717f72655d6e787e337a726b">[email protected]</span></a>.

    Dated: January 5, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-00145 Filed 1-7-21; 8:45 am]
BILLING CODE 8011-01-P


</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>