3672 Federal Register / Vol. 80, No. 15 / Friday, January 23, 2015 / Notices 

The information requirements of the 

rule consist of the following: (1) Prior to 

obtaining the client’s consent 

appropriate disclosure must be made to 

the client as to the practice of, and the 

conflicts of interest involved in, agency 

cross transactions; (2) at or before the 

completion of any such transaction the 

client must be furnished with a written 

confirmation containing specified 

information and offering to furnish 

upon request certain additional 

information; and (3) at least annually, 

the client must be furnished with a 

written statement or summary as to the 

total number of transactions during the 

period covered by the consent and the 

total amount of commissions received 

by the adviser or its affiliated brokerdealer attributable to such transactions. 

The Commission estimates that 

approximately 464 respondents use the 

rule annually, necessitating about 32 

responses per respondent each year, for 

a total of 14,848 responses. Each 

response requires an estimated 0.5 

hours, for a total of 7,424 hours. The 

estimated average burden hours are 

made solely for the purposes of the 

Paperwork Reduction Act and are not 

derived from a comprehensive or 

representative survey or study of the 

cost of Commission rules and forms. 

This collection of information is 

found at (17 CFR 275.206(3)–2) and is 

necessary in order for the investment 

adviser to obtain the benefits of Rule 

206(3)–2. The collection of information 

requirements under the rule is 

mandatory. Information subject to the 

disclosure requirements of Rule 206(3)– 

2 does not require submission to the 

Commission; and, accordingly, the 

disclosure pursuant to the rule is not 

kept confidential. Commissionregistered investment advisers are 

required to maintain and preserve 

certain information required under Rule 

206(3)–2 for five (5) years. The longterm retention of these records is 

necessary for the Commission’s 

inspection program to ascertain 

compliance with the Advisers 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. 

Written comments are invited on: (a) 

Whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information shall have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden of the proposed collection 

of information; (c) ways to enhance the 

quality, utility, and clarity of the 

information to be 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 sixty 60 days of this 

publication. 

Please direct your written comments 

to Pamela Dyson, Acting Director/Chief 

Information Officer, Securities and 

Exchange Commission, C/O Remi 

Pavlik-Simon, 100 F Street NE., 

Washington, DC 20549; or send an email 

to: PRA_Mailbox@sec.gov. 

Dated: January 16, 2015. 

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–01078 Filed 1–22–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

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 11a–2; SEC File No. 270–267, OMB 

Control No. 3235–0272. 

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 11a–2 (17 CFR 270.11a–2) under 

the Investment Company Act of 1940 

(15 U.S.C. 80a–1 et seq.) permits certain 

registered insurance company separate 

accounts, subject to certain conditions, 

to make exchange offers without prior 

approval by the Commission of the 

terms of those offers. Rule 11a–2 

requires disclosure, in certain 

registration statements filed pursuant to 

the Securities Act of 1933 (15 U.S.C. 77a 

et seq.) of any administrative fee or sales 

load imposed in connection with an 

exchange offer. 

There are currently 652 registrants 

governed by Rule 11a–2. The 

Commission includes the estimated 

burden of complying with the 

information collection required by Rule 

11a–2 in the total number of burden 

hours estimated for completing the 

relevant registration statements and 

reports the burden of Rule 11a–2 in the 

separate Paperwork Reduction Act 

(‘‘PRA’’) submissions for those 

registration statements (see the separate 

PRA submissions for Form N–3 (17 CFR 

274.11b), Form N–4 (17 CFR 274.11c) 

and Form N–6 (17 CFR 274.11d). The 

Commission is requesting a burden of 

one hour for Rule 11a–2 for 

administrative purposes. 

The estimate of average burden hours 

is made solely for the purposes of the 

PRA, and is not derived from a 

comprehensive or even a representative 

survey or study of the costs of 

Commission rules or forms. With regard 

to Rule 11a–2, the Commission includes 

the estimate of burden hours in the total 

number of burden hours estimated for 

completing the relevant registration 

statements and reported on the separate 

PRA submissions for those statements 

(see the separate PRA submissions for 

Form N–3, Form N–4 and Form N–6). 

The information collection requirements 

imposed by Rule 11a–2 are mandatory. 

Responses to the collection of 

information will not be kept 

confidential. 

Written comments are invited on: (a) 

Whether the collection of information is 

necessary for the proper performance of 

the functions of the Commission, 

including whether the information has 

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 in 

writing within 60 days of this 

publication. 

Please direct your written comments 

to Pamela Dyson, Acting Director/Chief 

Information Officer, Securities and 

Exchange Commission, C/O Remi 

Pavlik-Simon, 100 F Street NE., 

Washington, DC 20549; or send an email 

to: PRA_Mailbox@sec.gov. 

Dated: January 16, 2015. 

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–01075 Filed 1–22–15; 8:45 am] 

BILLING CODE 8011–01–P 


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