9758 Federal Register / Vol. 80, No. 36 / Tuesday, February 24, 2015 / Notices 

1See SEC File No. 270–330, OMB Control No. 

3235–0372, 79 FR 68730. 

Dated at Rockville, Maryland, this 9th day 

of February 2015. 

For the Nuclear Regulatory Commission. 

Jeffrey A. Whited, 

Project Manager, Plant Licensing Branch I– 

2, Division of Operating Reactor Licensing, 

Office of Nuclear Reactor Regulation. 

[FR Doc. 2015–03766 Filed 2–23–15; 8:45 am] 

BILLING CODE 7590–01–P 

OFFICE OF PERSONNEL 

MANAGEMENT 

Hispanic Council on Federal 

Employment 

AGENCY: U.S. Office of Personnel 

Management. 

ACTION: March 3, 2015 Council Meeting. 

SUMMARY: The Hispanic Council on 

Federal Employment (Council) meeting 

will be held on Tuesday, March 3, 2014 

at the location shown below at the 

following time: 2:00 to 4:00 p.m. 

The Council is an advisory committee 

composed of representatives from 

Hispanic organizations and senior 

government officials. Along with its 

other responsibilities, the Council shall 

advise the Director of the Office of 

Personnel Management on matters 

involving the recruitment, hiring, and 

advancement of Hispanics in the 

Federal workforce. The Council is cochaired by the Director of the Office of 

Personnel Management and the Chair of 

the National Hispanic Leadership 

Agenda (NHLA). 

The meeting is open to the public. 

Please contact the Office of Personnel 

Management at the address shown 

below if you wish to present material to 

the Council at any of the meetings. The 

manner and time prescribed for 

presentations may be limited, 

depending upon the number of parties 

that express interest in presenting 

information. 

Location: U.S. Office of Personnel 

Management, 1900 E St. NW., Executive 

Conference Room, 5th Floor, 

Washington, DC 20415. 

FOR FURTHER INFORMATION CONTACT: 

Veronica E. Villalobos, Director for the 

Office of Diversity and Inclusion, Office 

of Personnel Management, 1900 E St. 

NW., Suite 5H35, Washington, DC 

20415. Phone (202) 606–0020 FAX (202) 

606–2183 or email at 

veronica.villalobos@opm.gov. 

U.S. Office of Personnel Management. 

Katherine L. Archuleta, 

Director. 

[FR Doc. 2015–03775 Filed 2–23–15; 8:45 am] 

BILLING CODE 6820–B2–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Submission for OMB Review; 

Comment Request 

Upon Written Request Copies Available 

From: U.S. Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE., Washington, DC 

20549–2736. 

Extension: 

Rule 15c2–12, SEC File No. 270–330, OMB 

Control No. 3235–0372. 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the 

Securities and Exchange Commission 

(‘‘Commission’’) is soliciting comments 

on the existing collection of information 

provided for in Rule 15c2–12— 

Municipal Securities Disclosure (17 CFR 

240.15c2–12) under the Securities 

Exchange Act of 1934 (15 U.S.C. 78a et 

seq.) (‘‘Exchange Act’’). The 

Commission plans to submit this 

existing collection of information to the 

Office of Management and Budget 

(‘‘OMB’’) for extension and approval. 

Paragraph (b) of Rule 15c2–12 

requires underwriters of municipal 

securities: (1) To obtain and review an 

official statement ‘‘deemed final’’ by an 

issuer of the securities, except for the 

omission of specified information prior 

to making a bid, purchase, offer, or sale 

of municipal securities; (2) in noncompetitively bid offerings, to send, 

upon request, a copy of the most recent 

preliminary official statement (if one 

exists) to potential customers; (3) to 

contract with the issuer to receive, 

within a specified time, sufficient 

copies of the final official statement to 

comply with Rule 15c2–12’s delivery 

requirement and the rules of the 

Municipal Securities Rulemaking Board 

(‘‘MSRB’’); (4) to send, upon request, a 

copy of the final official statement to 

potential customers for a specified 

period of time; and (5) before 

purchasing or selling municipal 

securities in connection with an 

offering, to reasonably determine that 

the issuer or the obligated person has 

undertaken, in a written agreement or 

contract, for the benefit of holders of 

such municipal securities, to provide 

certain information on a continuing 

basis to the MSRB in an electronic 

format as prescribed by the MSRB. The 

information to be provided consists of: 

(1) Certain annual financial and 

operating information and audited 

financial statements (‘‘annual filings’’); 

(2) notices of the occurrence of any of 

14 specific events (‘‘event notices’’); and 

(3) notices of the failure of an issuer or 

obligated person to make a submission 

required by a continuing disclosure 

agreement (‘‘failure to file notices’’). 

Rule 15c2–12 is intended to enhance 

disclosure in the municipal securities 

market, and thereby reduce fraud, by 

establishing standards for obtaining, 

reviewing, and disseminating 

information about municipal securities 

by their underwriters. 

Municipal offerings of less than $1 

million are exempt from the rule, as are 

offerings of municipal securities issued 

in large denominations that are sold to 

no more than 35 sophisticated investors 

or have short-term maturities. 

The Commission previously 

published a 60-day notice on this 

collection of information (the ‘‘60-day 

Notice’’).1 Commission staff has 

considered the comments received in 

response to the 60-day Notice and is 

revising many of the estimates included 

in the 60-day Notice. In response to 

previous comment solicitations in 2008 

and 2009 on the PRA burdens 

associated with Rule 15c2–12, the 

Commission received either no 

comments, or comments that did not 

include any quantified alternative 

estimates or that did not include any 

supporting data. In contrast to those 

previous comment solicitations, the 

Commission received comment letters 

in response to the 60-day Notice that 

included comments providing specific 

alternative estimates of the PRA burdens 

of Rule 15c2–12 and specific data to 

support the commenters’ alternative 

estimates. Based on the new information 

commenters provided in response to the 

60-day Notice, Commission staff is 

revising many of its hourly burden 

estimates. It is now estimated that 

approximately 20,000 issuers, 250 

broker-dealers, and the MSRB will 

spend a total of 621,758 hours per year 

complying with Rule 15c2–12. Based on 

data from the MSRB through September 

2014 and annualized through December 

2014, issuers will submit approximately 

62,596 annual filings to the MSRB in 

2014. Commission staff estimates that 

an issuer will require approximately 

seven hours to prepare and submit 

annual filings to the MSRB. Therefore, 

the total annual burden on issuers to 

prepare and submit 62,596 annual 

filings to the MSRB is estimated to be 

438,172 hours. Based on data from the 

MSRB through September 2014 and 

annualized through December 2014, 

issuers will submit approximately 

73,480 event notices to the MSRB in 

2014. Commission staff estimates that 

an issuer will require approximately 

two hours to prepare and submit event 


tkelley on DSK3SPTVN1PROD with NOTICES
Federal Register / Vol. 80, No. 36 / Tuesday, February 24, 2015 / Notices 9759 

2 20,000 (number of issuers) × .65 (percentage of 

issuers that may use designated agents) × $750 

(estimated average annual cost for issuer’s use of 

designated agent) = $9,750,000. 

notices to the MSRB. Therefore, the total 

annual burden on issuers to prepare and 

submit 73,480 event notices to the 

MSRB is estimated to be 146,960 hours. 

Based on data from the MSRB through 

September 2014 and annualized through 

December 2014, issuers will submit 

approximately 7,063 failure to file 

notices to the MSRB in 2014. 

Commission staff estimates that an 

issuer will require approximately two 

hours to prepare and submit failure to 

file notices to the MSRB. Therefore, the 

total annual burden on issuers to 

prepare and submit 7,063 failure to file 

notices to the MSRB is estimated to be 

14,126 hours. Commission staff 

estimates that the total annual burden 

on broker-dealers to comply with Rule 

15c2–12 is 22,500 hours. Finally, 

Commission staff estimates that the 

MSRB will incur an annual burden of 

12,699 hours to collect, index, store, 

retrieve, and make available the 

pertinent documents under Rule 15c2– 

12. 

Based on data provided by the MSRB, 

the Commission estimates that up to 

65% of issuers may use designated 

agents to submit some or all of their 

continuing disclosure documents to the 

MSRB. The Commission estimates that 

the average total annual cost that may be 

incurred by issuers that use the services 

of a designated agent will be 

$9,750,000.2 The Commission estimates 

that the MSRB will incur total annual 

costs of $10,000 based on the MSRB’s 

estimates of the hardware and software 

costs for the MSRB’s Electronic 

Municipal Market Access (‘‘EMMA’’) 

system in the MSRB’s fiscal year 2014. 

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 

estimates 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 30 days of this 

publication. 

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 background 

documentation for this information 

collection at the following Web site: 

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: Shagufta_

Ahmed@omb.eop.gov; and (ii) Pamela 

Dyson, Director/Chief Information 

Officer, Securities and Exchange 

Commission, c/o Remi Pavlik-Simon, 

100 F Street NE., Washington, DC 

20549, or by sending an email to: PRA_

Mailbox@sec.gov. Comments must be 

submitted to OMB within 30 days of 

this notice. 

February 18, 2015. 

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–03670 Filed 2–23–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. IC–31457; File No. 812–14330] 

Eagle Point Credit Company Inc., et al.; 

Notice of Application 

February 18, 2015. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’). 

ACTION: Notice of application for an 

order under section 17(d) of the 

Investment Company Act of 1940 (the 

‘‘Act’’) and rule 17d–1 under the Act to 

permit certain joint transactions 

otherwise prohibited by section 17(d) of 

the Act and rule 17d–1 under the Act. 

SUMMARY: Summary of Application: 

Applicants request an order to permit 

Eagle Point Credit Company Inc. to coinvest in portfolio companies with 

certain affiliated investment funds. 

Applicants: Eagle Point Credit 

Company Inc. (‘‘EPCC’’), Eagle Point 

Credit Management LLC (‘‘EPCM’’), 

Eagle Point Credit Partners LP (‘‘EPCP’’), 

Eagle Point Credit GP I LP (‘‘General 

Partner’’), Eagle Point Credit Company 

Sub LLC (‘‘EPCC Sub’’), Eagle Point 

Credit Partners Sub Ltd. (‘‘EPCP Sub’’), 

and Eagle Point Credit Partners Sub III 

Ltd. (‘‘EPCP Sub III’’). 

DATES: Filing Dates: The application was 

filed on July 10, 2014, and amended on 

November 20, 2014 and January 30, 

2015. 

Hearing or Notification of Hearing: An 

order granting the requested relief will 

be issued unless the Commission orders 

a hearing. Interested persons may 

request a hearing by writing to the 

Commission’s Secretary and serving 

applicants with a copy of the request, 

personally or by mail. Hearing requests 

should be received by the Commission 

by 5:30 p.m. on March 16, 2015, and 

should be accompanied by proof of 

service on applicants, in the form of an 

affidavit or, for lawyers, a certificate of 

service. Hearing requests should state 

the nature of the writer’s interest, the 

reason for the request, and the issues 

contested. Persons who wish to be 

notified of a hearing may request 

notification by writing to the 

Commission’s Secretary. 

ADDRESSES: Secretary, U.S. Securities 

and Exchange Commission, 100 F St. 

NE., Washington, DC 20549–1090. 

Applicants: 20 Horseneck Lane, 

Greenwich, CT 06830. 

FOR FURTHER INFORMATION CONTACT: 

Vanessa M. Meeks, Senior Counsel, or 

Melissa R. Harke, Branch Chief, at (202) 

551–6825 (Chief Counsel’s Office, 

Division of Investment Management). 

SUPPLEMENTARY INFORMATION: The 

following is a summary of the 

application. The complete application 

may be obtained via the Commission’s 

Web site by searching for the file 

number, or for an applicant using the 

Company name box, at http://

www.sec.gov/search/search.htm or by 

calling (202) 551–8090. 

Applicants’ Representations 

1. EPCC (formerly Eagle Point Credit 

Company LLC) is a Delaware 

corporation that is registered as a 

closed-end management investment 

company under the Act. EPCC’s primary 

investment objective is to generate high 

current income, with a secondary 

objective to generate capital 

appreciation. EPCC seeks to achieve its 

investment objectives by investing 

primarily in equity and junior debt 

tranches of collateralized loan 

obligations (‘‘CLOs’’) that are 

collateralized by a diverse portfolio 

consisting primarily of below 

investment grade U.S. senior secured 

loans. The board of directors of EPCC is 

currently comprised of six directors, 

four of whom are not ‘‘interested 

persons,’’ within the meaning of section 

2(a)(19) of the Act (the ‘‘Non-Interested 

Directors’’), of EPCC. 

2. EPCP is a Cayman Islands 

exempted limited partnership that 

would be an investment company under 

the 1940 Act but for Section 3(c)(7) of 

the 1940 Act. EPCP’s investment 


tkelley on DSK3SPTVN1PROD with NOTICES