[Federal Register Volume 88, Number 172 (Thursday, September 7, 2023)]
[Notices]
[Pages 61655-61656]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-19246]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-317, OMB Control No. 3235-0360]


Proposed Collection; 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'') 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.
    Form N-17f-2 (17 CFR 274.220) under the Investment Company Act is 
entitled ``Certificate of Accounting of

[[Page 61656]]

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 
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 at a total cost of approximately 
$190,822.50.\3\ Form N-17f-2 does not impose any paperwork related cost 
burdens other than this internal hour cost.
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    \1\ This estimate is based on the following calculation: 1.25 x 
$252 (fund senior accountant's hourly rate) = $315.
    \2\ This estimate is based on the following calculation: .75 x 
$94 (administrative assistant hourly rate) $70.50.
    \3\ This estimate is based on the following calculation: 165 
funds x $1,156.50 (total annual cost per fund) = $190,822.50.
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    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.
    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. Consideration will 
be given to comments and suggestions submitted by November 6, 2023.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    Please direct your written comments to: David Bottom, Acting 
Director/Chief Information Officer, Securities and Exchange Commission, 
c/o John Pezzullo, 100 F Street NE, Washington, DC 20549 or send an 
email to: <a href="/cdn-cgi/l/email-protection#cc9c9e8d9381ada5a0aea3b48cbfa9afe2aba3ba"><span class="__cf_email__" data-cfemail="0c5c5e4d53416d65606e63744c7f696f226b637a">[email protected]</span></a> .

    Dated: August 31, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-19246 Filed 9-6-23; 8:45 am]
BILLING CODE 8011-01-P


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