2198 Federal Register / Vol. 87, No. 9 / Thursday, January 13, 2022 / Notices 

1This estimate is based on the following 

calculation: 179,443 (previous burden estimate) + 

1,724.5 (additional internal burden) = 181,167.5 

hours. 

2This estimate is based on the number of 

registered management companies as calculated by 

the filing type: 1,403 N–1A registrants (13,248 

funds); 693 N–2 registrants (691 funds); 5 N–3 

registrants (14 funds); 417 N–4 registrants (418 

funds); 235 N–6 registrants (236 funds); 47 N–8B– 

2 registrants (47 funds). 

3This estimate is based on the following 

calculation: 14,654 funds × $203 per filing × 2 

filings per year = $5,949,524. 

used by registered management 

investment companies (‘‘funds’’) to file 

certified shareholder reports under the 

Investment Company Act of 1940 (15 

U.S.C. 80a–1 et seq.) (‘‘Investment 

Company Act’’) and the Securities 

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

seq.) (‘‘Exchange Act’’). Specifically, 

Form N–CSR is to be used for reports 

under section 30(b)(2) of the Investment 

Company Act (15 U.S.C. 80a–29(b)(2)) 

and section 13(a) or 15(d) of the 

Exchange Act (15 U.S.C. 78m(a) and 

78o(d)), filed pursuant to rule 30b2–1(a) 

under the Investment Company Act (17 

CFR 270.30b2–1(a)). Reports on Form 

N–CSR are to be filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) no later than 10 days 

after the transmission to stockholders of 

any report that is required to be 

transmitted to stockholders under rule 

30e–1 under the Investment Company 

Act (17 CFR 270.30e–1). The 

information filed with the Commission 

permits the verification of compliance 

with securities law requirements and 

assures the public availability and 

dissemination of the information. 

The current total annual burden hour 

inventory for Form N–CSR is 181,167 

hours.1 The hour burden estimates for 

preparing and filing reports on Form N– 

CSR are based on the Commission’s 

experience with the contents of the 

form. The number of burden hours may 

vary depending on, among other things, 

the complexity of the filing and whether 

preparation of the reports is performed 

by internal staff or outside counsel. 

The Commission’s new estimate of 

burden hours that will be imposed by 

Form N–CSR is as follows: 

TABLE 1—SUMMARY OF REVISED BURDEN HOURS FOR REPORTS ON FORM N–CSR 

Funds and filings Annual time burden (hours) 

Number of funds Number of annual 

filings 

Number of total 

filings 

Hour burden per 

fund per filing 

Total annual hour 

burden 

(A) (B) (C) = (A) × (B) (D) (E) = (C) × (D) 

Form N–CSR ......................................... 2 14,654 2 29,308 7.75 227,137 

In total, the Commission estimates it 

will take 227,137 burden hours per year 

for all funds to prepare and file reports 

on Form N–CSR. Commission staff 

estimates that the annual cost of outside 

services associated with Form N–CSR is 

approximately $203 per fund and the 

total annual external cost burden for 

Form N–CSR is $5,949,524.3

Estimates of average burden hours 

and costs are made solely for purposes 

of the Paperwork Reduction Act, and are 

not derived from a comprehensive or 

even representative survey or study of 

the costs of Commission rules and 

forms. Compliance with the information 

collection requirements of Form N–CSR 

is mandatory. Responses to the 

collection of information 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 OMB control number. 

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 David Bottom, Director/Chief 

Information Officer, Securities and 

Exchange Commission, C/O John R. 

Pezzullo, 100 F Street NE, Washington, 

DC 20549; or send an email to: PRA_

Mailbox@sec.gov. 

All submissions should refer to File 

Number 270–512. This file number 

should be included on the subject line 

if email is used. The Commission will 

post all comments on the Commission’s 

internet website (http://www.sec.gov). 

All comments received will be posted 

without change; we do not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. 

Dated: January 10, 2022. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–00589 Filed 1–12–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–792; OMB Control No. 

3235–0739] 

Proposed Collection; Comment 

Request; Extension: Order Granting a 

Conditional Exemption Under the 

Securities Exchange Act of 1934 From 

the Confirmation Requirements of 

Exchange Act Rule 10b–10(a) for 

Certain Transactions in Money Market 

Funds 

Upon Written Request, Copies Available 

From: U.S. 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 

(‘‘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 the Order Granting a 

Conditional Exemption under the 

Securities Exchange Act of 1934 from 

the Confirmation Requirements of 

Exchange Act Rule 10b–10(a) for Certain 

Transactions in Money Market Funds 

(17 CFR 240.10b–10(a)). The 

Commission plans to submit this 

existing collection of information to the 

Office of Management and Budget 

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


jspears on DSK121TN23PROD with NOTICES1
Federal Register / Vol. 87, No. 9 / Thursday, January 13, 2022 / Notices 2199 

1 See generally Money Market Fund Reform; 

Amendments to Form PF, Securities Act Release 

No. 9408, Investment Advisers Act Release No. 

3616, Investment Company Act Release No. 30551 

(June 5, 2013), 78 FR 36834, 36934 (June 19, 2013); 

see also Exchange Act Rule 10b–10(b)(1), 17 CFR 

240.10b–10(b)(1) (limiting alternative monthly 

reporting to money market funds that attempt to 

maintain a stable NAV). 

2See Order Granting a Conditional Exemption 

Under the Securities Exchange Act of 1934 From 

the Confirmation Requirements of Exchange Act 

Rule 10b–10(a) for Certain Transactions in Money 

Market Funds, Exchange Act Release No. 34–76480 

(Nov. 19, 2015), 80 FR 73849 (Nov. 25, 2015). 

Rule 10b–10 under the Securities 

Exchange Act of 1934 (‘‘Exchange Act’’) 

(15 U.S.C. 78a et seq.) generally requires 

broker-dealers to provide customers 

with specified information relating to 

their securities transactions at or before 

the completion of the transactions. 

Exchange Act Rule 10b–10(b), however, 

provides an exception from this 

requirement for certain transactions in 

money market funds that attempt to 

maintain a stable net asset value when 

no sales load or redemption fee is 

charged. The exception permits brokerdealers to provide transaction 

information to money market fund 

shareholders on a monthly, rather than 

immediate, basis, subject to the 

conditions. Amendments to Rule 2a–7 

(17 CFR 270.2a–7) of the Investment 

Company Act of 1940 (‘‘Investment 

Company Act’’) (15 U.S.C. 80a–1 et seq.) 

among other things, means, absent an 

exemption, broker-dealers would not be 

able to continue to rely on the exception 

under Exchange Act Rule 10b–10(b) for 

transactions in money market funds 

operating in accordance with 

Investment Company Act Rule 2a– 

7(c)(1)(ii).1

In 2015, the Commission issued an 

Order Granting a Conditional 

Exemption under the Securities 

Exchange Act of 1934 From The 

Confirmation Requirements of Exchange 

Act Rule 10b–10(a) For Certain 

Transactions In Money Market Funds 

(‘‘Order’’) 2 which allows broker-dealers, 

subject to certain conditions, to provide 

transaction information to investors in 

any money market fund operating 

pursuant to Investment Company Act 

Rule 2a–7(c)(1)(ii) on a monthly basis in 

lieu of providing immediate 

confirmations as required under 

Exchange Act Rule 10b–10(a) (‘‘the 

Exemption’’). Accordingly, to be eligible 

for the Exemption, a broker-dealer must 

(1) provide an initial written 

notification to the customer of its ability 

to request delivery of immediate 

confirmations consistent with the 

written notification requirements of 

Exchange Act Rule 10b–10(a), and (2) 

not receive any such request to receive 

immediate confirms from the customer. 

As of December 31, 2020, the 

Commission estimates there are 

approximately 154 broker-dealers that 

clear customer transactions or carry 

customer funds and securities who 

would be responsible for providing 

customer confirmations. The 

Commission estimates that the cost of 

the ongoing notification requirements 

would be minimal, approximately 5% of 

the initial burden which was previously 

estimated to be 36 hours per brokerdealer, or approximately 1.8 hours per 

broker-dealer per year, to provide 

ongoing notifications, or a total burden 

of 277 hours annually for the 154 

carrying broker-dealers. 

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 Commission’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 60 days of this 

publication. 

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, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o John 

Pezzullo, 100 F Street NE, Washington, 

DC 20549, or send an email to: PRA_

Mailbox@sec.gov. 

Dated: January 10, 2022. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–00587 Filed 1–12–22; 8:45 am] 

BILLING CODE 8011–01–P 

SELECTIVE SERVICE SYSTEM 

Reasonable Accommodation, 

Religious Exception, and Medical 

Exception Health Records 

AGENCY: Selective Service System. 

ACTION: Notice of new system of records. 

SUMMARY: Pursuant to the provisions of 

the Privacy Act of 1974, as amended, 

the Selective Service System (SSS) is 

issuing a public notice of its intent to 

create a Privacy Act System of Records 

titled, ‘‘Reasonable Accommodation, 

Religious Exception, and Medical 

Exception Health Records.’’ This System 

of Records notice (SORN) describes 

Selective Service’s collection, 

maintenance, and use of records related 

to requests for reasonable 

accommodation under Title VII of the 

Civil Rights Act of 1964 or the 

applicable provisions of the Americans 

with Disabilities Act as applied to the 

Federal Government through the 

Rehabilitation Act and the Religious 

Freedom Restoration Act of 1993. This 

newly established system will be 

included in the SSS inventory of record 

systems. 

DATES: Please submit comments on or 

before 30 days after date of publication 

in the Federal Register. This new 

system is effective upon publication in 

today’s Federal Register, with the 

exception of the routine uses, which are 

effective 30 days after date of 

publication in the Federal Register. 

ADDRESSES: Written comments and 

recommendations should be sent to 

Daniel.Mira@sss.gov or to the Selective 

Service System, Mr. Daniel Mira, Senior 

Agency Official for Privacy, 1515 

Wilson Boulevard, Arlington, Virginia 

22209–2425. A copy of the comments 

should be sent to the Office of 

Information and Regulatory Affairs, 

Attention: Desk Officer, Selective 

Service System, Office of Management 

and Budget, New Executive Office 

Building, Room 3235, Washington, DC 

20503. 

FOR FURTHER INFORMATION CONTACT: Mr. 

Daniel Mira, Senior Agency Official for 

Privacy, Office of Information 

Technology, Selective Service System, 

1515 Wilson Boulevard, Arlington, 

Virginia 22209–2425. 

SUPPLEMENTARY INFORMATION: Executive 

Order 14043, Requiring Coronavirus 

Disease 2019 Vaccination for Federal 

Employees, signed September 9, 2021, 

establishes mandatory requirements for 

Federal executive agencies to 

implement a program to require COVID– 

19 vaccinations for Federal employees, 

with some exceptions as required by 

law. Additionally, Executive Order 

14042, Ensuring Adequate COVID 

Safety Protocols for Federal Contractors, 

signed September 9, 2021, establishes 

requirements for Federal executive 

agencies to implement workplace safety 

protocols for contractors and 

subcontractors to protect the health and 

safety of the Federal workforce and 

members of the public. SSS is 

implementing these requirements to 


jspears on DSK121TN23PROD with NOTICES1