[Federal Register Volume 74, Number 67 (Thursday, April 9, 2009)]
[Notices]
[Pages 16238-16239]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-8067]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Form 13F; SEC File No. 270-22; OMB Control No. 3235-0006.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501-3520), 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.
    Section 13(f) \1\ of the Securities Exchange Act of 1934 \2\ (the 
``Exchange Act'') empowers the Commission to: (1) Adopt rules that 
create a reporting and

[[Page 16239]]

disclosure system to collect specific information; and (2) disseminate 
such information to the public. Rule 13f-1 \3\ under the Exchange Act 
requires institutional investment managers that exercise investment 
discretion over accounts--having in the aggregate a fair market value 
of at least $100,000,000 of exchange-traded or NASDAQ-quoted equity 
securities--to file quarterly reports with the Commission on Form 
13F.\4\
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    \1\ 15 U.S.C. 78m(f).
    \2\ 15 U.S.C. 78a et seq.
    \3\ 17 CFR 240.13f-1.
    \4\ 17 CFR 249.325.
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    The information collection requirements apply to institutional 
investment managers that meet the $100 million reporting threshold. 
Section 13(f)(5) of the Exchange Act defines an ``institutional 
investment manager'' as any person, other than a natural person, 
investing in or buying and selling securities for its own account, and 
any person exercising investment discretion with respect to the account 
of any other person. Form 13F under the Exchange Act defines 
``investment discretion'' for purposes of Form 13F reporting.
    The reporting system required by Section 13(f) of the Exchange Act 
is intended, among other things, to create in the Commission a central 
repository of historical and current data about the investment 
activities of institutional investment managers, and to improve the 
body of factual data available to regulators and the public.
    The Commission staff estimates that 4,052 respondents make 
approximately 16,208 responses under the rule each year. The staff 
estimates that on average, Form 13F filers spend 98.8 hours/year to 
prepare and submit the report. In addition, the staff estimates that 
210 respondents file approximately 840 amendments each year. The staff 
estimates that on average, Form 13F filers spend 4 hours/year to 
prepare and submit amendments to Form 13F. The total annual burden of 
the rule's requirements for all respondents therefore is estimated to 
be 401,178 hours ((4,052 filers x 98.8 hours) + (210 filers x 4 
hours)).
    The estimate of average burden hours is made solely for the 
purposes of the Paperwork Reduction Act. The estimate is not derived 
from a comprehensive or even a representative survey or study of the 
costs of Commission rules. 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 collections of 
information are 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 burdens 
of the collections of information; (c) ways to enhance the quality, 
utility, and clarity of the information collected; and (d) ways to 
minimize the burdens of the collections 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 Charles Boucher, Director/
CIO, Securities and Exchange Commission, c/o Shirley Martinson, 6432 
General Green Way, Alexandria, VA 22312; or send an e-mail to: <a href="/cdn-cgi/l/email-protection#c09092819f8da1a9aca2afb880b3a5a3eea7afb6"><span class="__cf_email__" data-cfemail="431311021c0e222a2f212c3b033026206d242c35">[email protected]</span></a>.

    Dated: April 3, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-8067 Filed 4-8-09; 8:45 am]
BILLING CODE 8010-01-P


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