Federal Register / Vol. 87, No. 105 / Wednesday, June 1, 2022 / Notices 33219 

1Notice of the United States Postal Service of 

Filing Changes in Rates Not of General 

Applicability for Inbound Parcel Post (at UPU 

Rates), and Application for Non-Public Treatment, 

May 23, 2022, at 1 (Notice). 

2The Postal Service explains that the prices are 

provisional because it expects the Postal Operations 

Council (POC) to issue revised rates in a re-issued 

circular during June of 2022. Notice at 3–4. The 

Postal Service does not anticipate the revised rates 

to differ from the rates submitted with the Notice. 

Id. at 4. 

3Notice at 4–5. See Docket No. CP2014–52, Order 

Accepting Price Changes for Inbound Air Parcel 

Post (at UPU Rates), June 26, 2014, at 6 (Order No. 

2102); Docket No. CP2015–24, Order Accepting 

Changes in Rates for Inbound Parcel Post (at UPU 

Rates), December 29, 2014, at 4 (Order No. 2310). 

1Rule 206(4)–2(a)(1). 

2Rule 206(4)–2(a)(2). 

3Rule 206(4)–2(a)(2). 

4Rule 206(4)–2(a)(3). 

FOR FURTHER INFORMATION CONTACT: 

David A. Trissell, General Counsel, at 

202–789–6820. 

SUPPLEMENTARY INFORMATION: 

Table of Contents 

I. Introduction 

II. Contents of Filing 

III. Commission Action 

IV. Ordering Paragraphs 

I. Introduction 

On May 23, 2022, the Postal Service 

filed notice announcing its intention to 

change prices not of general 

applicability for Inbound Parcel Post (at 

Universal Postal Union (UPU) Rates) 

effective July 1, 2022.1

II. Contents of Filing 

With the Notice, the Postal Service 

filed: A redacted copy of the UPU 

International Bureau (IB) Circular 49 

that contains the new provisional 

prices,2 a copy of the certification 

required under 39 CFR 3035.105(c)(2), 

redacted Postal Service data used to 

justify any bonus payments, a redacted 

copy of Governors’ Decision No. 19–1, 

and a redacted copy of UPU IB Circular 

92, which contains information for a 

prior period to support the Postal 

Service’s contentions about cost 

coverage. Notice at 2–3; see id. 

Attachments 2–6. The Postal Service 

also filed redacted Excel versions of 

financial workpapers. Notice at 3. 

Additionally, the Postal Service filed 

an unredacted copy of Governors’ 

Decision No. 19–1, an unredacted copy 

of the new prices, and related financial 

information under seal. See id. at 2. The 

Postal Service also filed an application 

for non-public treatment of materials 

filed under seal. Notice, Attachment 1. 

The Postal Service states that it has 

provided supporting documentation as 

required by Order No. 2102 and Order 

No. 2310.3 In addition, the Postal 

Service states that it provided citations 

and copies of relevant UPU IB Circulars 

and updates to inflation-linked 

adjustments. Notice at 7. 

III. Commission Action 

The Commission establishes Docket 

No. CP2022–66 for consideration of 

matters raised by the Notice. 

The Commission invites comments on 

whether the Postal Service’s filing is 

consistent with 39 U.S.C. 3632–3633, 

and 39 CFR part 3035. Comments are 

due no later than June 2, 2022. The 

public portions of the filing can be 

accessed via the Commission’s website 

(http://www.prc.gov). 

The Commission appoints Kenneth R. 

Moeller to serve as Public 

Representative in this docket. 

IV. Ordering Paragraphs 

It is ordered: 

1. The Commission establishes Docket 

No. CP2022–66 for consideration of the 

matters raised by the Postal Service’s 

Notice. 

2. Pursuant to 39 U.S.C. 505, Kenneth 

R. Moeller is appointed to serve as an 

officer of the Commission to represent 

the interests of the general public in this 

proceeding (Public Representative). 

3. Comments are due no later than 

June 2, 2022. 

4. The Secretary shall arrange for 

publication of this order in the Federal 

Register. 

By the Commission. 

Erica A. Barker, 

Secretary. 

[FR Doc. 2022–11708 Filed 5–31–22; 8:45 am] 

BILLING CODE 7710–FW–P 

RAILROAD RETIREMENT BOARD 

Sunshine Act Meetings 

TIME AND DATE: 10:00 a.m., June 8, 2022. 

PLACE: Members of the public wishing 

to attend the meeting must submit a 

written request at least 24 hours prior to 

the meeting to receive dial-in 

information. All requests must be sent 

to SecretarytotheBoard@rrb.gov. 

STATUS: This meeting will be open to the 

public. 

MATTERS TO BE CONSIDERED: 

1. SCOTUS Update 

2. Disposition of Current Matters with 

Two Concurring Votes 

3. FY 22 Hiring Progress 

4. Legislative Report from Office of 

Legislative Affairs 

CONTACT PERSON FOR MORE INFORMATION: 

Stephanie Hillyard, Secretary to the 

Board, (312) 751–4920. 

Authority: 5 U.S.C. 552b. 

Dated: May 26, 2022. 

Stephanie Hillyard, 

Secretary to the Board. 

[FR Doc. 2022–11793 Filed 5–27–22; 11:15 am] 

BILLING CODE 7905–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–217, OMB Control No. 

3235–0241] 

Proposed Collection; Comment 

Request; Extension: Rule 206(4)–2 

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 

(‘‘Commission’’) is soliciting comments 

on the collection of information 

summarized below. The Commission 

plans to submit this collection of 

information to the Office of 

Management and Budget (‘‘OMB’’) for 

extension and approval. 

Rule 206(4)–2 (17 CFR 275.206(4)–2) 

under the Investment Advisers Act of 

1940 (15 U.S.C. 80b–1 et seq.) governs 

the custody of funds or securities of 

clients by Commission-registered 

investment advisers. Rule 206(4)–2 

requires each registered investment 

adviser that has custody of client funds 

or securities to maintain those client 

funds or securities with a broker-dealer, 

bank or other ‘‘qualified custodian.’’ 1

The rule requires the adviser to 

promptly notify clients as to the place 

and manner of custody, after opening an 

account for the client and following any 

changes.2 If an adviser sends account 

statements to its clients, it must insert 

a legend in the notice and in subsequent 

account statements sent to those clients 

urging them to compare the account 

statements from the custodian with 

those from the adviser.3 The adviser 

also must have a reasonable basis, after 

due inquiry, for believing that the 

qualified custodian maintaining client 

funds and securities sends account 

statements directly to the advisory 

clients at least quarterly, identifying the 

amount of funds and of each security in 

the account at the end of the period and 

setting forth all transactions in the 

account during that period.4 The client 


jspears on DSK121TN23PROD with NOTICES1
33220 Federal Register / Vol. 87, No. 105 / Wednesday, June 1, 2022 / Notices 

5Rule 206(4)–2(a)(4). 

6Rule 206(4)–2(a)(6). 

7Rule 206(4)–2(b)(4). 

8Rule 206(4)–2(b)(3). 

9Rule 206(4)–2 (b)(6). 

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

2 17 CFR 240.19b–4. 

3Capitalized terms used but not defined herein 

have the meanings specified in the Rules and 

Governance Playbook. 

4Self-Regulatory Organizations; ICE Clear Credit 

LLC; Notice of Filing of Proposed Rule Change 

Relating to the ICC Governance Playbook; Exchange 

Act Release No. 34–94616 (Apr. 6, 2022), 87 FR 

21687 (Apr. 12, 2022) (SR–ICC–2022–003) 

(‘‘Notice’’). 

5The description that follows is substantially 

excerpted from the Notice, 87 FR at 21687–21688. 

funds and securities of which an adviser 

has custody must undergo an annual 

surprise examination by an independent 

public accountant to verify client assets 

pursuant to a written agreement with 

the accountant that specifies certain 

duties.5 Unless client assets are 

maintained by an independent 

custodian (i.e., a custodian that is not 

the adviser itself or a related person), 

the adviser also is required to obtain or 

receive a written report of the internal 

controls relating to the custody of those 

assets from an independent public 

accountant that is registered with and 

subject to regular inspection by the 

Public Company Accounting Oversight 

Board (‘‘PCAOB’’).6

The rule exempts advisers from the 

rule with respect to clients that are 

registered investment companies. 

Advisers to limited partnerships, 

limited liability companies and other 

pooled investment vehicles are excepted 

from the account statement delivery and 

deemed to comply with the annual 

surprise examination requirement if the 

limited partnerships, limited liability 

companies or pooled investment 

vehicles are subject to annual audit by 

an independent public accountant 

registered with, and subject to regular 

inspection by the PCAOB, and the 

audited financial statements are 

distributed to investors in the pools.7

The rule also provides an exception to 

the surprise examination requirement 

for advisers that have custody solely 

because they have authority to deduct 

advisory fees from client accounts,8 and 

advisers that have custody solely 

because a related person holds the 

adviser’s client assets (or has any 

authority to obtain possession of them) 

and the related person is operationally 

independent of the adviser.9

Advisory clients use this information 

to confirm proper handling of their 

accounts. The Commission’s staff uses 

the information obtained through this 

collection in its enforcement, regulatory 

and examination programs. Without the 

information collected under the rule, 

the Commission would be less efficient 

and effective in its programs and clients 

would not have information valuable for 

monitoring an adviser’s handling of 

their accounts. 

The respondents to this information 

collection are investment advisers 

registered with the Commission and 

have custody of clients’ funds or 

securities. We estimate that 8,057 

advisers would be subject to the 

information collection burden under 

rule 206(4)–2. The number of responses 

under rule 206(4)–2 will vary 

considerably depending on the number 

of clients for which an adviser has 

custody of funds or securities, and the 

number of investors in pooled 

investment vehicles that the adviser 

manages. It is estimated that the average 

number of responses annually for each 

respondent would be 6,830, and an 

average time of 0.00524 hour per 

response. The annual aggregate burden 

for all respondents to the requirements 

of rule 206(4)–2 is estimated to be 

288,202 hours. 

The estimated average burden hours 

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 

cost of Commission rules and forms. 

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 August 1, 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, 

DC 20549; or send an email to: PRA_

Mailbox@sec.gov. 

Dated: May 25, 2022 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–11663 Filed 5–31–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–94980; File No. SR–ICC– 

2022–003] 

Self-Regulatory Organizations; ICE 

Clear Credit LLC; Order Approving 

Proposed Rule Change Relating to the 

ICC Governance Playbook 

May 25, 2022. 

I. Introduction 

On April 4, 2022, ICE Clear Credit 

LLC (‘‘ICC’’) filed with the Securities 

and Exchange Commission (the 

‘‘Commission’’), pursuant to Section 

19(b)(1) of the Securities Exchange Act 

of 1934 (the ‘‘Act’’) 1 and Rule 19b–4,2

a proposed rule change to revise the ICC 

Governance Playbook.3 The proposed 

rule change was published for comment 

in the Federal Register on April 12, 

2022.4 The Commission did not receive 

comments regarding the proposed rule 

change. For the reasons discussed 

below, the Commission is approving the 

proposed rule change. 

II. Description of the Proposed Rule 

Change 

A. Background 

The ICC Governance Playbook 

consolidates governance arrangements 

set forth in ICC’s Rules, operating 

agreement, and other ICC policies and 

procedures. The Governance Playbook 

contains information regarding the 

governance structure at ICC, including 

the Board, committees, and 

management. 

B. Changes to the Governance Playbook 

The proposal would make 

clarifications and updates regarding the 

roles and responsibilities of the ICC 

Legal Department and internal 

committees involved in the governance 

process.5 Specifically, the proposal 

would amend Section I of the 

Governance Playbook, which describes 

the purpose of the document, to state 

that the ICC Legal Department will 

review and amend the Governance 

Playbook as needed when there are 

circumstances that may impact the 

governance procedures of ICC, such as 


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