Federal Register / Vol. 80, No. 59 / Friday, March 27, 2015 / Notices 16487 

12See American Bar Association Bar Lawyer 

Demographics, http://www.americanbar.org/

content/dam/aba/administrative/market_research/

lawyer_demographics_2013.authcheckdam.pdf. 

13See Registration of Municipal Advisors, 

Exchange Act Release No. 70462 (Sept. 20, 2013), 

78 FR 67467 (Nov. 12, 2013). 

14 15 U.S.C. 78s(b)(3)(A). 

15 17 CFR 240.19b–4(f). 16 17 CFR 200.30–3(a)(12). 

50 percent of the attorneys who were in 

private practice that year, were sole 

practitioners and an additional 14 

percent work in firms made up of five 

or fewer attorneys.12 As another 

example, the Project Management 

Professional examination fee is $250. 

The MSRB is not aware of evidence that 

the fees associated with other 

examinations represent a significant 

burden on smaller firms or that they 

negatively impact the competitiveness 

of the associated professional services 

markets. 

While the MSRB recognizes that 

examination fees do represent an initial 

barrier to entry in markets where they 

are required, the MSRB also recognizes 

that professionals wishing to engage in 

municipal securities activities and/or 

municipal advisory activities face other 

costs associated with complying with 

applicable laws and regulations. The 

fees for professional qualification 

examinations, which are one-time fees 

for those who pass, typically represent 

a relatively small share of all legal and 

compliance costs associated with a 

government-regulated activity. The 

MSRB anticipates that potential market 

entrants that are actually deterred by a 

professional examination fee would find 

it difficult to bear the costs to fully 

comply with the other regulatory and 

legal requirements associated with the 

market in which they wish to offer 

services. 

With regard to the impact on small 

municipal advisors, the MSRB notes 

that because the total fee assessed to a 

firm is based on the number of 

individuals associated with that firm 

who enroll to take an MSRB-owned 

qualification examination, the total 

costs assessed will bear a reasonable 

relationship to the size of the firm, with 

smaller firms likely to be assessed lower 

fee totals. Nonetheless, larger, more 

diversified firms may have a larger 

overall revenue base than smaller firms 

and may be more able to pass expenses 

on to clients than smaller firms. On net, 

the MSRB believes that the burdens 

associated with the proposed rule 

change on small municipal advisors are 

limited and that, as the SEC concluded 

in its final rule on the permanent 

registration of municipal advisors, the 

market would be likely to remain 

competitive despite the potential exit of 

some municipal advisors (including 

small entity municipal advisors), 

consolidation of municipal advisors, or 

lack of new entrants into the market.13

The MSRB also believes that its 

professional qualification examinations 

promote compliance with applicable 

laws and regulations are necessary for 

the protection of investors, municipal 

entities, and obligated persons. 

Therefore, the MSRB believes the 

proposed rule change does not impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

Written comments were neither 

solicited nor received on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The forgoing rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act 14 and paragraph (f) of Rule 

19b–4 15 thereunder. At any time within 

60 days of the filing of the proposed rule 

change, the Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form http://www.sec.gov/

rules/sro.shtml; or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

MSRB–2015–01 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE., 

Washington, DC 20549. 

All submissions should refer to File 

Number SR–MSRB–2015–01. This file 

number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/

rules/sro.shtml).Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

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 Web site 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 MSRB. All comments 

received will be posted without change; 

the Commission does not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number SR–MSRB– 

2015–01 and should be submitted on or 

before April 17, 2015. 

For the Commission, pursuant to delegated 

authority.16

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–06990 Filed 3–26–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

31509; File No. 812–14373] 

Griffin Institutional Access Real Estate 

Fund and Griffin Capital Advisor, LLC; 

Notice of Application 

March 23, 2015. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’). 

ACTION: Notice of an application under 

section 6(c) of the Investment Company 

Act of 1940 (the ‘‘Act’’) for an 

exemption from sections 18(c) and 18(i) 

of the Act, under sections 6(c) and 

23(c)(3) of the Act for an exemption 

from rule 23c–3 under the Act, and for 

an order pursuant to section 17(d) of the 

Act and rule 17d–1 under the Act. 

SUMMARY: Summary of Application: 

Applicants request an order to permit 

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16488 Federal Register / Vol. 80, No. 59 / Friday, March 27, 2015 / Notices 

1A successor in interest is limited to an entity 

that results from a reorganization into another 

jurisdiction or a change in the type of business 

organization. 

2Any Fund relying on this relief in the future will 

do so in a manner consistent with the terms and 

conditions of the application. Applicants represent 

that each entity presently intending to rely on the 

requested relief is listed as an applicant. 

3Applicants submit that rule 23c–3 and 

Regulation M under the Exchange Act permit an 

interval fund to make repurchase offers to 

repurchase its shares while engaging in a 

continuous offering of its shares pursuant to Rule 

415 under the Securities Act of 1933. 

4Any reference to the NASD Sales Charge Rule 

includes any successor or replacement rule that 

may be adopted by the Financial Industry 

Regulatory Authority (‘‘FINRA’’). 

certain registered closed-end 

management investment companies to 

issue multiple classes of shares and to 

impose asset-based distribution fees and 

early withdrawal charges (‘‘EWCs’’). 

APPLICANTS: Griffin Institutional Access 

Real Estate Fund (the ‘‘Fund’’) and 

Griffin Capital Advisor, LLC (the 

‘‘Adviser’’). 

DATES: Filing Dates: The application 

was filed on October 16, 2014, and 

amended on March 3, 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 April 17, 2015, and 

should be accompanied by proof of 

service on the applicants, in the form of 

an affidavit, or, for lawyers, a certificate 

of service. Pursuant to rule 0–5 under 

the Act, hearing requests should state 

the nature of the writer’s interest, any 

facts bearing upon the desirability of a 

hearing on the matter, 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 Street 

NE., Washington, DC 20549–1090; 

Applicants: Griffin Institutional Access 

Real Estate Fund and Griffin Capital 

Advisor, LLC, c/o Terrence Davis, Esq., 

Baker, Donelson, Bearman, Caldwell & 

Berkowitz, PC, 920 Massachusetts 

Avenue NW., Suite 900, Washington, 

DC 20001. 

FOR FURTHER INFORMATION CONTACT: 

Laura Solomon, Senior Counsel, at (202) 

551–6915, or Daniele Marchesani, 

Branch Chief, at (202) 551–6821 

(Division of Investment Management, 

Chief Counsel’s Office). 

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. The Fund is a recently formed 

Delaware statutory trust that is 

registered under the Act as a nondiversified, closed-end management 

investment company. The Fund’s 

investment objective is to generate a 

return comprised of both current 

income and capital appreciation with 

moderate volatility and low correlation 

to the broader markets. Applicants 

represent that the Fund pursues its 

investment objective by strategically 

investing across private institutional 

real estate investment funds as well as 

a diversified set of public real estate 

securities. 

2. The Adviser is a Delaware limited 

liability company and is registered as an 

investment adviser under the 

Investment Advisers Act of 1940. The 

Adviser serves as investment adviser to 

the Fund. 

3. The Applicants seek an order to 

permit the Fund to issue multiple 

classes of shares, each having its own 

fee and expense structure, and to 

impose asset-based distribution fees and 

EWCs. 

4. Applicants request that the order 

also apply to any continuously offered 

registered closed-end management 

investment company that has been 

previously organized or that may be 

organized in the future for which the 

Adviser or any entity controlling, 

controlled by, or under common control 

with the Adviser, or any successor in 

interest to any such entity,1 acts as 

investment adviser and which operates 

as an interval fund pursuant to rule 

23c–3 under the Act or provides 

periodic liquidity with respect to its 

shares pursuant to rule 13e–4 under the 

Securities Exchange Act of 1934 

(‘‘Exchange Act’’) (each, a ‘‘Future 

Fund’’ and together with the Fund, the 

‘‘Funds’’).2

5. The Fund is currently making a 

continuous public offering of its 

common shares. Applicants state that 

additional offerings by any Fund relying 

on the order may be on a private 

placement or public offering basis. 

Shares of the Funds will not be listed on 

any securities exchange, nor quoted on 

any quotation medium. The Funds do 

not expect there to be a secondary 

trading market for their shares. 

6. If the requested relief is granted, the 

Fund intends to redesignate its common 

shares as ‘‘Class A Shares’’ and to 

continuously offer two additional 

classes of shares (‘‘Class I Shares’’ and 

‘‘Class C Shares’’). Because of the 

different distribution fees, services and 

any other class expenses that may be 

attributable to the Class A Shares, Class 

I and Class C Shares, the net income 

attributable to, and the dividends 

payable on, each class of shares may 

differ from each other. 

7. Applicants state that, from time to 

time, the Fund may create additional 

classes of shares, the terms of which 

may differ from the Class A, Class I and 

Class C Shares in the following respects: 

(i) The amount of fees permitted by 

different distribution plans or different 

service fee arrangements; (ii) voting 

rights with respect to a distribution plan 

of a class; (iii) different class 

designations; (iv) the impact of any class 

expenses directly attributable to a 

particular class of shares allocated on a 

class basis as described in the 

application; (v) any differences in 

dividends and net asset value resulting 

from differences in fees under a 

distribution plan or in class expenses; 

(vi) any EWC or other sales load 

structure; and (vii) exchange or 

conversion privileges of the classes as 

permitted under the Act. 

8. Applicants state that the Fund has 

adopted a fundamental policy to 

repurchase a specified percentage of its 

shares (no less than 5%) at net asset 

value on a quarterly basis. Such 

repurchase offers will be conducted 

pursuant to rule 23c–3 under the Act. 

Each of the other Funds will likewise 

adopt fundamental investment policies 

in compliance with rule 23c–3 and 

make quarterly repurchase offers to its 

shareholders or provide periodic 

liquidity with respect to its shares 

pursuant to rule 13e–4 under the 

Exchange Act.3 Any repurchase offers 

made by the Funds will be made to all 

holders of shares of each such Fund. 

9. Applicants represent that any assetbased service and distribution fees for 

each class of shares will comply with 

the provisions of NASD Rule 2830(d) 

(‘‘NASD Sales Charge Rule’’).4

Applicants also represent that each 

Fund will disclose in its prospectus the 

fees, expenses and other characteristics 

of each class of shares offered for sale 

by the prospectus, as is required for 

open-end multiple class funds under 

Form N–1A. As is required for open-end 

funds, each Fund will disclose its 

expenses in shareholder reports, and 

disclose any arrangements that result in 

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Federal Register / Vol. 80, No. 59 / Friday, March 27, 2015 / Notices 16489 

5See Shareholder Reports and Quarterly Portfolio 

Disclosure of Registered Management Investment 

Companies, Investment Company Act Release No. 

26372 (Feb. 27, 2004) (adopting release) (requiring 

open-end investment companies to disclose fund 

expenses in shareholder reports); and Disclosure of 

Breakpoint Discounts by Mutual Funds, Investment 

Company Act Release No. 26464 (June 7, 2004) 

(adopting release) (requiring open-end investment 

companies to provide prospectus disclosure of 

certain sales load information). 

6Fund of Funds Investments, Investment 

Company Act Rel. Nos. 26198 (Oct. 1, 2003) 

(proposing release) and 27399 (Jun. 20, 2006) 

(adopting release). See also Rules 12d1–1, et seq. of 

the Act. 

breakpoints in or elimination of sales 

loads in its prospectus.5 In addition, 

applicants will comply with applicable 

enhanced fee disclosure requirements 

for fund of funds, including registered 

funds of hedge funds.6

10. Each of the Funds will comply 

with any requirements that the 

Commission or FINRA may adopt 

regarding disclosure at the point of sale 

and in transaction confirmations about 

the costs and conflicts of interest arising 

out of the distribution of open-end 

investment company shares, and 

regarding prospectus disclosure of sales 

loads and revenue sharing 

arrangements, as if those requirements 

applied to the Fund. In addition, each 

Fund will contractually require that any 

distributor of the Fund’s shares comply 

with such requirements in connection 

with the distribution of such Fund’s 

shares. 

11. Each Fund will allocate all 

expenses incurred by it among the 

various classes of shares based on the 

net assets of the Fund attributable to 

each class, except that the net asset 

value and expenses of each class will 

reflect distribution fees, service fees, 

and any other incremental expenses of 

that class. Expenses of the Fund 

allocated to a particular class of shares 

will be borne on a pro rata basis by each 

outstanding share of that class. 

Applicants state that each Fund will 

comply with the provisions of rule 18f– 

3 under the Act as if it were an openend investment company. 

12. Applicants state that each Fund 

may impose an EWC on shares 

submitted for repurchase that have been 

held less than a specified period and 

may waive the EWC for certain 

categories of shareholders or 

transactions to be established from time 

to time. Applicants state that each of the 

Funds will apply the EWC (and any 

waivers or scheduled variations of the 

EWC) uniformly to all shareholders in a 

given class and consistently with the 

requirements of rule 22d–1 under the 

Act as if the Funds were open-end 

investment companies. 

13. Each Fund operating as an interval 

fund pursuant to rule 23c–3 under the 

Act may offer its shareholders an 

exchange feature under which the 

shareholders of the Fund may, in 

connection with the Fund’s periodic 

repurchase offers, exchange their shares 

of the Fund for shares of the same class 

of (i) registered open-end investment 

companies or (ii) other registered 

closed-end investment companies that 

comply with rule 23c–3 under the Act 

and continuously offer their shares at 

net asset value, that are in the Fund’s 

group of investment companies 

(collectively, ‘‘Other Funds’’). Shares of 

a Fund operating pursuant to rule 23c– 

3 that are exchanged for shares of Other 

Funds will be included as part of the 

amount of the repurchase offer amount 

for such Fund as specified in rule 23c– 

3 under the Act. Any exchange option 

will comply with rule 11a–3 under the 

Act, as if the Fund were an open-end 

investment company subject to rule 

11a–3. In complying with rule 11a–3, 

each Fund will treat an EWC as if it 

were a contingent deferred sales load 

(‘‘CDSL’’). 

Applicants’ Legal Analysis 

Multiple Classes of Shares 

1. Section 18(c) of the Act provides, 

in relevant part, that a closed-end 

investment company may not issue or 

sell any senior security if, immediately 

thereafter, the company has outstanding 

more than one class of senior security. 

Applicants state that the creation of 

multiple classes of shares of the Funds 

may be prohibited by section 18(c), as 

a class may have priority over another 

class as to payment of dividends 

because shareholders of different classes 

would pay different fees and expenses. 

2. Section 18(i) of the Act provides 

that each share of stock issued by a 

registered management investment 

company will be a voting stock and 

have equal voting rights with every 

other outstanding voting stock. 

Applicants state that multiple classes of 

shares of the Funds may violate section 

18(i) of the Act because each class 

would be entitled to exclusive voting 

rights with respect to matters solely 

related to that class. 

3. Section 6(c) of the Act provides that 

the Commission may exempt any 

person, security or transaction or any 

class or classes of persons, securities or 

transactions from any provision of the 

Act, or from any rule or regulation 

under the Act, if and to the extent such 

exemption is necessary or appropriate 

in the public interest and consistent 

with the protection of investors and the 

purposes fairly intended by the policy 

and provisions of the Act. Applicants 

request an exemption under section 6(c) 

from sections 18(c) and 18(i) to permit 

the Funds to issue multiple classes of 

shares. 

4. Applicants submit that the 

proposed allocation of expenses and 

voting rights among multiple classes is 

equitable and will not discriminate 

against any group or class of 

shareholders. Applicants submit that 

the proposed arrangements would 

permit a Fund to facilitate the 

distribution of its shares and provide 

investors with a broader choice of 

shareholder services. Applicants assert 

that the proposed closed-end 

investment company multiple class 

structure does not raise the concerns 

underlying section 18 of the Act to any 

greater degree than open-end 

investment companies’ multiple class 

structures that are permitted by rule 

18f–3 under the Act. Applicants state 

that each Fund will comply with the 

provisions of rule 18f–3 as if it were an 

open-end investment company. 

Early Withdrawal Charges 

1. Section 23(c) of the Act provides, 

in relevant part, that no registered 

closed-end investment company shall 

purchase securities of which it is the 

issuer, except: (a) On a securities 

exchange or other open market; (b) 

pursuant to tenders, after reasonable 

opportunity to submit tenders given to 

all holders of securities of the class to 

be purchased; or (c) under other 

circumstances as the Commission may 

permit by rules and regulations or 

orders for the protection of investors. 

2. Rule 23c–3 under the Act permits 

a registered closed-end investment 

company (an ‘‘interval fund’’) to make 

repurchase offers of between five and 

twenty-five percent of its outstanding 

shares at net asset value at periodic 

intervals pursuant to a fundamental 

policy of the interval fund. Rule 23c– 

3(b)(1) under the Act provides that an 

interval fund may deduct from 

repurchase proceeds only a repurchase 

fee, not to exceed two percent of the 

proceeds, that is paid to the interval 

fund and is reasonably intended to 

compensate the fund for expenses 

directly related to the repurchase. 

3. Section 23(c)(3) provides that the 

Commission may issue an order that 

would permit a closed-end investment 

company to repurchase its shares in 

circumstances in which the repurchase 

is made in a manner or on a basis that 

does not unfairly discriminate against 

any holders of the class or classes of 

securities to be purchased. 

4. Applicants request relief under 

section 6(c), discussed above, and 

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16490 Federal Register / Vol. 80, No. 59 / Friday, March 27, 2015 / Notices 

section 23(c)(3) from rule 23c–3 to the 

extent necessary for the Funds to 

impose EWCs on shares of the Funds 

submitted for repurchase that have been 

held for less than a specified period. 

5. Applicants state that the EWCs they 

intend to impose are functionally 

similar to CDSLs imposed by open-end 

investment companies under rule 6c–10 

under the Act. Rule 6c–10 permits openend investment companies to impose 

CDSLs, subject to certain conditions. 

Applicants note that rule 6c–10 is 

grounded in policy considerations 

supporting the employment of CDSLs 

where there are adequate safeguards for 

the investor and state that the same 

policy considerations support 

imposition of EWCs in the interval fund 

context. In addition, applicants state 

that EWCs may be necessary for the 

distributor to recover distribution costs. 

Applicants represent that any EWC 

imposed by the Funds will comply with 

rule 6c–10 under the Act as if the rule 

were applicable to closed-end 

investment companies. The Funds will 

disclose EWCs in accordance with the 

requirements of Form N–1A concerning 

CDSLs. 

Asset-Based Distribution Fees 

1. Section 17(d) of the Act and rule 

17d–1 under the Act prohibit an 

affiliated person of a registered 

investment company or an affiliated 

person of such person, acting as 

principal, from participating in or 

effecting any transaction in connection 

with any joint enterprise or joint 

arrangement in which the investment 

company participates unless the 

Commission issues an order permitting 

the transaction. In reviewing 

applications submitted under section 

17(d) and rule 17d-1, the Commission 

considers whether the participation of 

the investment company in a joint 

enterprise or joint arrangement is 

consistent with the provisions, policies 

and purposes of the Act, and the extent 

to which the participation is on a basis 

different from or less advantageous than 

that of other participants. 

2. Rule 17d–3 under the Act provides 

an exemption from section 17(d) and 

rule 17d–1 to permit open-end 

investment companies to enter into 

distribution arrangements pursuant to 

rule 12b–1 under the Act. Applicants 

request an order under section 17(d) and 

rule 17d–1 under the Act to the extent 

necessary to permit the Fund to impose 

asset-based distribution fees. Applicants 

have agreed to comply with rules 12b– 

1 and 17d–3 as if those rules applied to 

closed-end investment companies, 

which they believe will resolve any 

concerns that might arise in connection 

with a Fund financing the distribution 

of its shares through asset-based 

distribution fees. 

For the reasons stated above, 

applicants submit that the exemptions 

requested under section 6(c) are 

necessary and appropriate in the public 

interest and are consistent with the 

protection of investors and the purposes 

fairly intended by the policy and 

provisions of the Act. Applicants further 

submit that the relief requested 

pursuant to section 23(c)(3) will be 

consistent with the protection of 

investors and will insure that applicants 

do not unfairly discriminate against any 

holders of the class of securities to be 

purchased. Finally, applicants state that 

the Funds’ imposition of asset-based 

distribution fees is consistent with the 

provisions, policies and purposes of the 

Act and does not involve participation 

on a basis different from or less 

advantageous than that of other 

participants. 

Applicants’ Condition 

Applicants agree that any order 

granting the requested relief will be 

subject to the following condition: 

Each Fund relying on the order will 

comply with the provisions of rules 6c– 

10, 12b–1, 17d–3, 18f–3, 22d–1, and, 

where applicable, 11a–3 under the Act, 

as amended from time to time, as if 

those rules applied to closed-end 

management investment companies, 

and will comply with the NASD Sales 

Charge Rule, as amended from time to 

time, as if that rule applied to all closedend management investment 

companies. 

For the Commission, by the Division of 

Investment Management, under delegated 

authority. 

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–06989 Filed 3–26–15; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

Reporting and Recordkeeping 

Requirements Under OMB Review 

AGENCY: Small Business Administration. 

ACTION: 30-day notice. 

SUMMARY: The Small Business 

Administration (SBA) is publishing this 

notice to comply with requirements of 

the Paperwork Reduction Act (PRA) (44 

U.S.C. chapter 35), which requires 

agencies to submit proposed reporting 

and recordkeeping requirements to 

OMB for review and approval, and to 

publish a notice in the Federal Register 

notifying the public that the agency has 

made such a submission. This notice 

also allows an additional 30 days for 

public comments. 

DATES: Submit comments on or before 

April 27, 2015. 

ADDRESSES: Comments should refer to 

the information collection by name and/ 

or OMB Control Number and should be 

sent to: Agency Clearance Officer, Curtis 

Rich, Small Business Administration, 

409 3rd Street SW., 5th Floor, 

Washington, DC 20416; and SBA Desk 

Officer, Office of Information and 

Regulatory Affairs, Office of 

Management and Budget, New 

Executive Office Building, Washington, 

DC 20503. 

FOR FURTHER INFORMATION CONTACT: 

Curtis Rich, Agency Clearance Officer, 

(202) 205–7030, curtis.rich@sba.gov. 

Copies: A copy of the Form OMB 

83–1, supporting statement, and other 

documents submitted to OMB for 

review may be obtained from the 

Agency Clearance Officer. 

SUPPLEMENTARY INFORMATION: The Small 

Business Administration needs to 

understand if the SBA-funded Women’s 

Business Center program is generating 

positive outcomes for their clients. The 

data from this collection will include 

client attitudes and stated changes in 

business practices and performance. 

The data will be used to monitor and 

report on the performance or outcomes 

of business clients that received 

business assistance from the centers. 

Solicitation of Public Comments: 

Comments may be submitted on (a) 

whether the collection of information is 

necessary for the agency to properly 

perform its functions; (b) whether the 

burden estimates are accurate; (c) 

whether there are ways to minimize the 

burden, including through the use of 

automated techniques or other forms of 

information technology; and (d) whether 

there are ways to enhance the quality, 

utility, and clarity of the information. 

Summary of Information Collections: 

Title: Women’s Business Center 

Program Participants. 

Description of Respondents: Women’s 

Business Center Program Participants. 

Form Number: N/A. 

Estimated Annual Respondents: 1145. 

Estimated Annual Responses: 1145. 

Estimated Annual Hour Burden: 1496. 

Curtis B. Rich, 

Management Analyst. 

[FR Doc. 2015–06979 Filed 3–26–15; 8:45 am] 

BILLING CODE 8025–01–P 

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