Federal Register / Vol. 87, No. 49 / Monday, March 14, 2022 / Notices 14315 

13 17 CFR 200.30–3(a)(12). 

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 website 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 Exchange. All comments 

received will be posted without change. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–NYSE–2022–12 and should 

be submitted on or before April 4, 2022. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–05248 Filed 3–11–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–188, OMB Control No. 

3235–0212] 

Proposed Collection; Comment 

Request; Extension: Rule 12b–1 

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. 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 (‘‘OMB’’) for 

extension and approval. 

Rule 12b–1 under the Investment 

Company Act of 1940 (17 CFR 270.12b– 

1) permits a registered open-end 

investment company (‘‘fund’’) to bear 

expenses associated with the 

distribution of its shares, provided that 

the fund complies with certain 

requirements, including, among other 

things, that it adopt a written plan 

(‘‘rule 12b–1 plan’’) and that it preserves 

in writing any agreements relating to the 

rule 12b–1 plan. The rule in part 

requires that (i) the adoption or material 

amendment of a rule 12b–1 plan be 

approved by the fund’s directors, 

including its independent directors, 

and, in certain circumstances, its 

shareholders; (ii) the board review 

quarterly reports of amounts spent 

under the rule 12b–1 plan; and (iii) the 

board, including the independent 

directors, consider continuation of the 

rule 12b–1 plan and any related 

agreements at least annually. Rule 12b– 

1 also requires funds relying on the rule 

to preserve for six years, the first two 

years in an easily accessible place, 

copies of the rule 12b–1 plan and any 

related agreements and reports, as well 

as minutes of board meetings that 

describe the factors considered and the 

basis for adopting or continuing a rule 

12b–1 plan. 

Rule 12b–1 also prohibits funds from 

paying for distribution of fund shares 

with brokerage commissions on their 

portfolio transactions. The rule requires 

funds that use broker-dealers that sell 

their shares to also execute their 

portfolio securities transactions, to 

implement policies and procedures 

reasonably designed to prevent: (i) The 

persons responsible for selecting brokerdealers to effect transactions in fund 

portfolio securities from taking into 

account broker-dealers’ promotional or 

sales efforts when making those 

decisions; and (ii) a fund, its adviser, or 

its principal underwriter, from entering 

into any agreement under which the 

fund directs brokerage transactions or 

revenue generated by those transactions 

to a broker-dealer to pay for distribution 

of the fund’s (or any other fund’s) 

shares. 

The board and shareholder approval 

requirements of rule 12b–1 are designed 

to ensure that fund shareholders and 

directors receive adequate information 

to evaluate and approve a rule 12b–1 

plan and, thus, are necessary for 

investor protection. The requirement of 

quarterly reporting to the board is 

designed to ensure that the rule 12b–1 

plan continues to benefit the fund and 

its shareholders. The recordkeeping 

requirements of the rule are necessary to 

enable Commission staff to oversee 

compliance with the rule. The 

requirement that funds or their advisers 

implement, and fund boards approve, 

policies and procedures in order to 

prevent persons charged with allocating 

fund brokerage from taking distribution 

efforts into account is designed to 

ensure that funds’ selection of brokers to 

effect portfolio securities transactions is 

not influenced by considerations about 

the sale of fund shares. 

Commission staff estimates that there 

are approximately 6,358 funds (for 

purposes of this estimate, registered 

open-end investment companies or 

series thereof) that have at least one 

share class subject to a rule 12b–1 plan 

and approximately 454 fund families 

with common boards of directors that 

have at least one fund with a 12b–1 

plan. The Commission further estimates 

that the annual hour burden for 

complying with the rule is 425 hours for 

each fund family with a portfolio that 

has a rule 12b–1 plan. We therefore 

estimate that the total hourly burden per 

year for all funds to comply with 

current information collection 

requirements under rule 12b–1 is 

192,950 hours. Commission staff 

estimates that approximately three 

funds per year prepare a proxy in 

connection with the adoption or 

material amendment of a rule 12b–1 

plan. The staff further estimates that the 

cost of each fund’s proxy is $30,000. 

Thus, the total annual cost burden of 

rule 12b–1 to the fund industry is 

$90,000. 

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. The collections of information 

required by rule 12b–1 are necessary to 

obtain the benefits of the rule. Notices 

to the Commission 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 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 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 by May 13, 2022. 

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, 


jspears on DSK121TN23PROD with NOTICES1
14316 Federal Register / Vol. 87, No. 49 / Monday, March 14, 2022 / Notices 

DC 20549; or send an email to: PRA_

Mailbox@sec.gov . 

All submissions should refer to File 

Number 270–188. 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: March 9, 2022. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–05349 Filed 3–11–22; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

Data Collection Available for Public 

Comments 

ACTION: 60-Day notice and request for 

comments. 

SUMMARY: The Small Business 

Administration (SBA) intends to request 

approval, from the Office of 

Management and Budget (OMB) for the 

collection of information described 

below. The Paperwork Reduction Act 

(PRA) requires federal agencies to 

publish a notice in the Federal Register 

concerning each proposed collection of 

information before submission to OMB, 

and to allow 60 days for public 

comment in response to the notice. This 

notice complies with that requirement. 

DATES: Submit comments on or before 

May 13, 2022. 

ADDRESSES: Send all comments to 

JoAnn Braxton, Program Analyst, Office 

of Entrepreneurship Education, 

joann.braxton@sba.gov Small Business 

Administration. 

FOR FURTHER INFORMATION CONTACT: 

JoAnn Braxton, Program Analyst, Office 

of Entrepreneurship Education, Small 

Business Administration. 

Joann.braxton@sba.gov 202–205–6451 

or Curtis B. Rich Agency Clearance 

Officer 202–205–7030 curtis.rich@

sba.gov. 

SUPPLEMENTARY INFORMATION: This 

information collection will facilitate 

registration for the new e-learning and 

networking platform for women 

entrepreneurs interested in accessing 

resources to support growing an existing 

business. This information collection 

will enable the Agency to track 

customer use of the platform and its 

resources. By collecting basic 

demographic information and data on 

the registrant’s entrepreneurial goals, 

the SBA will better understand who is 

using the platform and their business 

goals, and can develop a platform that 

would enable the user to tailor delivery 

of content to meet their needs. This data 

collection will also facilitate user 

connectivity to relevant resources (peerto-peer learning, networking, mentoring, 

etc.). Information collected will be used 

for determining the scope of user 

participation on the platform, as well as 

user satisfaction with platform content. 

Solicitation of Public Comments: 

SBA is requesting comments 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 Collection: 

PRA NUMBER: 3245–0399. 

(1) Title: Women’s Digitalization 

(Entrepreneur Learning) Initiative 

Registration. 

Description of Respondents: To aid, 

counsel, assist, and protect the interests 

of small business concerns to preserve 

free competitive enterprise. 

Form Number: N/A. 

Total Estimated Annual Responses: 

350,00. 

Total Estimated Annual Hour Burden: 

46,667. 

Curtis Rich, 

Management Analyst. 

[FR Doc. 2022–05329 Filed 3–11–22; 8:45 am] 

BILLING CODE 8026–03–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

[Docket No. FAA–2022–0222] 

Agency Information Collection 

Activities: Requests for Comments; 

Clearance of a Renewed Approval of 

Information Collection: Survey of 

Airman Satisfaction With Aeromedical 

Certification Services 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice and request for 

comments. 

SUMMARY: In accordance with the 

Paperwork Reduction Act of 1995, FAA 

invites public comments about our 

intention to request the Office of 

Management and Budget (OMB) 

approval to renew an information 

collection. The collection involves 

soliciting feedback from airmen on 

service quality of Aeromedical 

Certification Services. The information 

to be collected will be used to inform 

improvements in Aeromedical 

Certification Services. 

DATES: Written comments should be 

submitted by May 13, 2022. 

ADDRESSES: Please send written 

comments: 

By Electronic Docket: 

www.regulations.gov (Enter docket 

number into search field). 

By mail: Dr. Kylie N. Key, Bldg. 13, 

Rm. 250A, 6500 S MacArthur Blvd., 

Oklahoma City, OK 73169. 

By fax: (405) 954–4852. 

FOR FURTHER INFORMATION CONTACT: 

Ashley Awwad by email at: 

ashley.awwad@faa.gov; phone: (816) 

786–5716. 

SUPPLEMENTARY INFORMATION: 

Public Comments Invited: You are 

asked to comment on any aspect of this 

information collection, including (a) 

whether the proposed collection of 

information is necessary for FAA’s 

performance; (b) the accuracy of the 

estimated burden; (c) ways for FAA to 

enhance the quality, utility, and clarity 

of the information collection; and (d) 

ways that the burden could be 

minimized without reducing the quality 

of the collected information. The agency 

will summarize and/or include your 

comments in the request for OMB’s 

clearance of this information collection. 

OMB Control Number: 2120–0707. 

Title: Survey of Airman Satisfaction 

with Aeromedical Certification Services. 

Form Numbers: N/A. 

Type of Review: Renewal of an 

information collection. 

Background: The Federal Aviation 

Administration (FAA), through the 

Office of Aerospace Medicine (OAM), is 

responsible for the medical certification 

of pilots and certain other personnel 

under 14 CFR 67 to ensure they are 

medically qualified to operate aircraft 

and perform their duties safely. In the 

accomplishment of this responsibility, 

OAM provides a number of services to 

pilots, and has established goals for the 

performance of those services, including 

a biennial survey designed to meet the 

requirement to survey stakeholder 

satisfaction under Executive Order No. 

12862, ‘‘Setting Customer Service 

Standards,’’ and the Government 

Performance and Results Act of 1993 

(GPRA). 

The survey of airman satisfaction with 

Aeromedical Certification Services 

assesses airman opinion of key 

dimensions of service quality. These 


jspears on DSK121TN23PROD with NOTICES1