Federal Register / Vol. 86, No. 20 / Tuesday, February 2, 2021 / Notices 7917 

15 17 CFR 200.30–3(a)(12). 

1Section 4(3) of the Act (15 U.S.C. 80a–4(3)) 

defines ‘‘management company’’ as ‘‘any 

investment company other than a face amount 

certificate company or a unit investment trust.’’ 

2This estimate is based on statistics compiled by 

Commission staff as of September 21, 2020. The 

number of management investment company 

portfolios that make distributions for which 

compliance with rule 19a–1 is required depends on 

a wide range of factors and can vary greatly across 

years. Therefore, the calculation of estimated 

burden hours is based on the total number of 

management investment company portfolios, each 

of which may be subject to rule 19a–1. 

3A few portfolios make monthly distributions 

from sources other than net income, so the rule 

requires them to send out a statement 12 times a 

year. Other portfolios never make such 

distributions. 

4This estimate is based on the following 

calculation: 12,019 management investment 

company portfolios × 2 statements per year × 1 hour 

per statement = 24,038 burden hours. 

5Hourly rates are derived from the Securities 

Industry and Financial Markets Association 

(‘‘SIFMA’’), Management and Professional Earnings 

in the Securities Industry 2013, modified to account 

for an 1,800-hour work-year and inflation, and 

multiplied by 5.35 to account for bonuses, firm size, 

employee benefits, and overhead. 

6Hourly rates are derived from SIFMA’s Office 

Salaries in the Securities Industry 2013, modified 

to account for an 1,800-hour work-year and 

multiplied by 2.93 to account for bonuses, firm size, 

employee benefits and overhead. 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549, on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of the 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–CboeBYX–2021–003, and 

should be submitted on or before 

February 23, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

J. Matthew DeLesDernier 

Assistant Secretary. 

[FR Doc. 2021–02117 Filed 2–1–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–240, OMB Control No. 

3235–0216] 

Submission for OMB Review; 

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 19a–1 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501–3520), 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. 

Section 19(a) (15 U.S.C. 80a–19(a)) of 

the Investment Company Act of 1940 

(the ‘‘Act’’) (15 U.S.C. 80a) makes it 

unlawful for any registered investment 

company to pay any dividend or similar 

distribution from any source other than 

the company’s net income, unless the 

payment is accompanied by a written 

statement to the company’s 

shareholders which adequately 

discloses the sources of the payment. 

Section 19(a) authorizes the 

Commission to prescribe the form of 

such statement by rule. 

Rule 19a–1 (17 CFR 270.19a–1) under 

the Act, entitled ‘‘Written Statement to 

Accompany Dividend Payments by 

Management Companies,’’ sets forth 

specific requirements for the 

information that must be included in 

statements made pursuant to section 

19(a) by or on behalf of management 

companies.1 The rule requires that the 

statement indicate what portions of 

distribution payments are made from 

net income, net profits from the sale of 

a security or other property (‘‘capital 

gains’’) and paid-in capital. When any 

part of the payment is made from capital 

gains, rule 19a–1 also requires that the 

statement disclose certain other 

information relating to the appreciation 

or depreciation of portfolio securities. If 

an estimated portion is subsequently 

determined to be significantly 

inaccurate, a correction must be made 

on a statement made pursuant to section 

19(a) or in the first report to 

shareholders following the discovery of 

the inaccuracy. 

The purpose of rule 19a–1 is to afford 

fund shareholders adequate disclosure 

of the sources from which distribution 

payments are made. The rule is 

intended to prevent shareholders from 

confusing income dividends with 

distributions made from capital sources. 

Absent rule 19a–1, shareholders might 

receive a false impression of fund gains. 

Based on a review of filings made 

with the Commission, the staff estimates 

that approximately 12,019 series of 

registered investment companies that 

are management companies may be 

subject to rule 19a–1 each year,2 and 

that each portfolio on average mails two 

statements per year to meet the 

requirements of the rule.3 The staff 

further estimates that the time needed to 

make the determinations required by the 

rule and to prepare the statement 

required under the rule is 

approximately 1 hour per statement. 

The total annual burden for all 

portfolios therefore is estimated to be 

approximately 24,038 burden hours.4

The staff estimates that approximately 

one-third of the total annual burden 

(8,013 hours) would be incurred by a 

paralegal with an average hourly wage 

rate of approximately $219 per hour,5

and approximately two-thirds of the 

annual burden (16,026 hours) would be 

incurred by a compliance clerk with an 

average hourly wage rate of $71 per 

hour.6 The staff therefore estimates that 

the aggregate annual cost of complying 

with the paperwork requirements of the 

rule is approximately $2,892,693 ((8,013 

hours × $219 = $1,754,847) + (16,026 

hours × $71 = $1,137,846)). 

To comply with state law, many 

investment companies already must 

distinguish the different sources from 

which a shareholder distribution is paid 

and disclose that information to 

shareholders. Thus, many investment 

companies would be required to 

distinguish the sources of shareholder 

dividends whether or not the 

Commission required them to do so 

under rule 19a–1. 

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 collection of information 

required by rule 19a–1 is mandatory for 

management companies that make 

statements to shareholders pursuant to 

section 19(a) of the Act. 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 the background 

documentation for this information 

collection at the following website, 

www.reginfo.gov. Comments should be 

directed to: (i) Desk Officer for the 

Securities and Exchange Commission, 

Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, Room 10102, New Executive 


jbell on DSKJLSW7X2PROD with NOTICES
7918 Federal Register / Vol. 86, No. 20 / Tuesday, February 2, 2021 / Notices 

1A company might not be prepared to elect to be 

subject to Sections 55 through 65 of the 1940 Act 

because its capital structure or management 

compensation plan is not yet in compliance with 

the requirements of those sections. 

Office Building, Washington, DC 20503, 

or by sending an email to: 

Lindsay.M.Abate@omb.eop.gov; and (ii) 

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: PRA_

Mailbox@sec.gov. Written comments 

and recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to www.reginfo.gov/public/do/ 

PRAMain. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. 

Dated: January 27, 2021. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–02124 Filed 2–1–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–185, OMB Control No. 

3235–0238] 

Submission for OMB Review; 

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: 

Form N–6F 

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 

(‘‘Commission’’) has submitted to the 

Office of Management and Budget a 

request for extension of the previously 

approved collection of information 

discussed below. 

The title for the collection of 

information is ‘‘Form N–6F (17 CFR 

274.15), Notice of Intent to Elect to be 

Subject to Sections 55 through 65 of the 

Investment Company Act of 1940.’’ The 

purpose of Form N–6F is to notify the 

Commission of a company’s intent to 

file a notification of election to become 

subject to Sections 55 through 65 of the 

Investment Company Act of 1940 (15 

U.S.C. 80a–1 et seq.) (‘‘1940 Act’’). 

Certain companies may have to make a 

filing with the Commission before they 

are ready to elect to be regulated as a 

business development company.1 A 

company that is excluded from the 

definition of ‘‘investment company’’ by 

Section 3(c)(1) because it has fewer than 

one hundred shareholders and is not 

making a public offering of its securities 

may lose such an exclusion solely 

because it proposes to make a public 

offering of securities as a business 

development company. Such company, 

under certain conditions, would not 

lose its exclusion if it notifies the 

Commission on Form N–6F of its intent 

to make an election to be regulated as 

a business development company. The 

company only has to file a Form N–6F 

once. 

The Commission estimates that on 

average approximately 4 companies file 

these notifications each year. Each of 

those companies need only make a 

single filing of Form N–6F. The 

Commission further estimates that this 

information collection imposes burden 

of 0.5 hours, resulting in a total annual 

PRA burden of 2 hours. Based on the 

estimated wage rate, the total cost to the 

industry of the hour burden for 

complying with Form N–6F would be 

approximately $736. 

The collection of information under 

Form N–6F is mandatory. The 

information provided under 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 OMB control number. 

The public may view the background 

documentation for this information 

collection at the following website, 

www.reginfo.gov. Comments should be 

directed to: (i) Desk Officer for the 

Securities and Exchange Commission, 

Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, Room 10102, New Executive 

Office Building, Washington, DC 20503, 

or by sending an email to: 

Lindsay.M.Abate@omb.eop.gov; and (ii) 

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: PRA_

Mailbox@sec.gov. Written comments 

and recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to www.reginfo.gov/public/do/ 

PRAMain. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. 

Dated: January 27, 2021. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–02122 Filed 2–1–21; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration # 16811 and # 16812; 

Alabama Disaster Number AL–00116] 

Presidential Declaration Amendment of 

a Major Disaster for Public Assistance 

Only for the State of Alabama 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Amendment 2. 

SUMMARY: This is an amendment of the 

Presidential declaration of a major 

disaster for Public Assistance Only for 

the State of Alabama (FEMA–4573–DR), 

dated 12/10/2020. 

Incident: Hurricane Zeta. 

Incident Period: 10/28/2020 through 

10/29/2020. 

DATES: Issued on 01/27/2021. 

Physical Loan Application Deadline 

Date: 02/08/2021. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 09/10/2021. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing and 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX 76155. 

FOR FURTHER INFORMATION CONTACT: A. 

Escobar, Office of Disaster Assistance, 

U.S. Small Business Administration, 

409 3rd Street SW, Suite 6050, 

Washington, DC 20416, (202) 205–6734. 

SUPPLEMENTARY INFORMATION: The notice 

of the President’s major disaster 

declaration for Private Non-Profit 

organizations in the State of Alabama, 

dated 12/10/2020, is hereby amended to 

include the following areas as adversely 

affected by the disaster. 

Primary Counties: Lowndes 

All other information in the original 

declaration remains unchanged. 

(Catalog of Federal Domestic Assistance 

Number 59008) 

Cynthia Pitts, 

Acting Associate Administrator for Disaster 

Assistance. 

[FR Doc. 2021–02142 Filed 2–1–21; 8:45 am] 

BILLING CODE 8026–03–P 


jbell on DSKJLSW7X2PROD with NOTICES