Federal Register / Vol. 86, No. 166 / Tuesday, August 31, 2021 / Notices 48787 

2This estimate is based on the following 

calculation: 224 repurchases × 2.5 hours per 

repurchase = 560 hours. 

3The $373/hour figure for a compliance attorney 

is from SIFMA’s Management & Professional 

Earnings in the Securities Industry 2013, updated 

for 2021, modified by Commission staff to account 

for an 1,800-hour work-year and inflation, and 

multiplied by 5.35 to account for bonuses, firm size, 

employee benefits and overhead. 

4The $72/hour figure for a compliance clerk is 

from SIFMA’s Office Salaries in the Securities 

Industry 2013, updated for 2021, modified by 

Commission staff to account for an 1,800-hour 

work-year and inflation, and multiplied by 2.93 to 

account for bonuses, firm size, employee benefits 

and overhead. 

5This estimate is based on the following 

calculation: 560 repurchases × $330.5 per 

repurchase = $185,080. 

6 In addition, Item 9 of Form N–CSR requires 

closed-end funds to disclose information similar to 

the information that was required in Form N–23C– 

1, which was discontinued in 2004. 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3Securities Exchange Act Release No. 92334 

(June 25, 2021), 86 FR 36815 (July 13, 2021) (File 

No. SR–NSCC–2021–007) (‘‘Notice of Filing’’). 

4Specifically, the Commission received a 

comment letter on a proposed rule change filed by 

NSCC’s affiliate, the Depository Trust Company 

(‘‘DTC’’), regarding parallel changes to DTC’s Rules. 

See Securities Exchange Act Release No. 92342 

(June 25, 2021), 86 FR 36833 (July 13, 2021) (File 

No. SR–DTC–2021–011). The comment letter is 

available on the Commission’s website at https://

www.sec.gov/comments/sr-dtc-2021-011/ 

srdtc2021011.htm. Because the comment addresses 

issues that also appear in this Proposed Rule 

Change, the Commission will consider it in 

connection with NSCC’s proposal as well. 

5 15 U.S.C. 78s(b)(2). 

6 Id. 

7 17 CFR 200.30–3(a)(31). 

hours.2 Commission staff further 

estimates that the cost of the hourly 

burden per repurchase is approximately 

$330.50 (one half hour of a compliance 

attorney’s time at $373 per hour,3 and 

two hours of clerical time at $72 per 

hour).4 The total annual cost for all 

funds is estimated to be $185,080.5

In addition, the fund must file with 

the Commission a copy of any written 

solicitation to purchase securities given 

by or on behalf of the fund to 10 or more 

persons. The copy must be filed as an 

exhibit to Form N–CSR (17 CFR 

249.331and 274.128).6 The burden 

associated with filing Form N–CSR is 

addressed in the submission related to 

that form. 

The estimate of average burden hours 

is made solely for the purposes of the 

Paperwork Reduction Act, and is not 

derived from a comprehensive or even 

a representative survey or study of the 

costs of Commission rules and forms. 

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 Cynthia 

Roscoe, 100 F Street NE, Washington, 

DC 20549; or send an email to: PRA_

Mailbox@sec.gov. 

Dated: August 25, 2021. 

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2021–18697 Filed 8–30–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92750; File No. SR–NSCC– 

2021–007] 

Self-Regulatory Organizations; 

National Securities Clearing 

Corporation; Notice of Designation of 

Longer Period for Commission Action 

on Proposed Rule Change Relating to 

Confidential Information, Market 

Disruption Events, Systems 

Disconnect, and Other Changes 

August 25, 2021. 

I. Introduction 

On June 25, 2021, National Securities 

Clearing Corporation (‘‘NSCC’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) proposed 

rule change SR–NSCC–2021–007 (the 

‘‘Proposed Rule Change’’) pursuant to 

Section 19(b)(1) of the Securities 

Exchange Act of 1934 (‘‘Act’’) 1 and Rule 

19b–4 thereunder 2 to amend NSCC’s 

rules relating to confidentiality 

requirements, market disruption events, 

systems disconnect, and other changes. 

The Proposed Rule Change was 

published for comment in the Federal 

Register on July 13, 2021,3 and the 

Commission received a comment, which 

addresses issues that also appear in this 

Proposed Rule Change.4

Section 19(b)(2) of the Act 5 provides 

that within 45 days of the publication of 

notice of the filing of a proposed rule 

change, or within such longer period up 

to 90 days as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or as to which the 

self-regulatory organization consents, 

the Commission shall either approve the 

proposed rule change, disapprove the 

proposed rule change, or institute 

proceedings to determine whether the 

proposed rule change should be 

disapproved. The 45th day after 

publication of the notice for the 

Proposed Rule Change is effectively 

Friday, August 27, 2021. 

The Commission is extending the 45- 

day review period for Commission 

action on the Proposed Rule Change. In 

order to provide the Commission with 

sufficient time to consider the Proposed 

Rule Change, the Commission finds that 

it is appropriate to designate a longer 

period within which to take action on 

the Proposed Rule Change. 

Accordingly, pursuant to Section 

19(b)(2) of the Act 6 and for the reasons 

stated above, the Commission 

designates Friday, October 8, 2021, as 

the date by which the Commission shall 

either approve, disapprove, or institute 

proceedings to determine whether to 

disapprove the Proposed Rule Change 

(File No. SR–NSCC–2021–007). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.7

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2021–18672 Filed 8–30–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–233, OMB Control No. 

3235–0223] 

Proposed Collection; Comment 

Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736. 

Extension: 

Rule 17f–2 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 350l 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 for extension 

and approval. 

Rule 17f–2 (17 CFR 270.17f–2), 

entitled ‘‘Custody of Investments by 


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