54194 Federal Register / Vol. 75, No. 171 / Friday, September 3, 2010 / Notices 

2 to decide whether the applicant 

should be deemed to be entitled to the 

action requested by the application. 

Applicants for orders can include 

registered investment companies, 

affiliated persons of registered 

investment companies, and issuers 

seeking to avoid investment company 

status, among other entities. 

Commission staff estimates that it 

receives approximately 125 applications 

per year under the Act. Although each 

application typically is submitted on 

behalf of multiple entities, the entities 

in the vast majority of cases are related 

companies and are treated as a single 

respondent for purposes of this analysis. 

The time to prepare an application 

depends on the complexity and/or 

novelty of the issues covered by the 

application. We estimate that the 

Commission receives 20 of the most 

time-consuming applications annually, 

80 applications of medium difficulty, 

and 25 of the least difficult applications. 

Based on conversations with applicants, 

we estimate that in-house counsel 

would spend from ten to fifty hours 

helping to draft and review an 

application. We estimate a total annual 

hour burden to all respondents of 3,650 

hours [(50 hours × 20 applications) + (30 

hours x 80 applications) + (10 hours x 

25 applications)]. 

Much of the work of preparing an 

application is performed by outside 

counsel. The cost outside counsel 

charges applicants depends on the 

complexity of the issues covered by the 

application and the time required for 

preparation. Based on conversations 

with attorneys who serve as outside 

counsel, the cost ranges from 

approximately $10,000 for preparing a 

well-precedented, routine application to 

approximately $150,000 to prepare a 

complex and/or novel application. This 

distribution gives a total estimated 

annual cost burden to applicants of 

filing all applications of $9,650,000 [(20 

x $150,000) + (80 x $80,000) + (25 x 

$10,000)]. 

These estimates of average costs are 

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. 

This collection of information is 

necessary to obtain a benefit and 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. 

Please direct general comments 

regarding the above information to the 

following persons: (i) Desk Officer for 

the Securities and Exchange 

Commission, Office of Management and 

Budget, Room 10102, New Executive 

Office Building, Washington, DC 20503 

or e-mail to: Shagufta Ahmed at 

Shagufta_Ahmed@omb.eop.gov; and (ii) 

Charles Boucher, Director/CIO, 

Securities and Exchange Commission, 

C/O Remi Pavlik-Simon, 6432 General 

Green Way, Alexandria, VA 22312; or 

send an e-mail to: 

PRA_Mailbox@sec.gov. Comments must 

be submitted to OMB within 30 days of 

this notice. 

Dated: August 30, 2010. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–22025 Filed 9–2–10; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Submission for OMB Review; 

Comment Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of Investor 

Education and Advocacy, 

Washington, DC 20549–0213. 

Extension: 

Rule 0–2, Form ADV–NR; SEC File No. 

270–214; OMB Control No. 3235–0240. 

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’’) has submitted to the 

Office of Management and Budget a 

request for extension of the previously 

approved collection of information 

discussed below. 

The title for the collection of 

information is ‘‘Rule 0–2’’ (17 CFR 

275.0–2) and ‘‘Form ADV–NR’’ (17 CFR 

279.4) under the Investment Advisers 

Act of 1940 (15 U.S.C. 80b–1). Rule 0– 

2 and Form ADV–NR facilitate service 

of process to non-resident investment 

advisers and their non-resident general 

partners or non-resident managing 

agents. The Form requires these persons 

to designate the Commission as agent 

for service of process. The purpose of 

this collection of information is to 

enable the commencement of legal and 

or regulatory actions against investment 

advisers that are doing business in the 

United States, but are not residents. 

The respondents to this information 

collection would be each non-resident 

general partner or non-resident 

managing agent of an SEC-registered 

adviser. The Commission has estimated 

that compliance with the requirement to 

complete Form ADV–NR imposes a total 

burden of approximately 1 hour for an 

adviser. Based on our experience with 

these filings, we estimate that we will 

receive 18 Form ADV–NR filings 

annually. Based on the 1.0 hour per 

respondent estimate, the Commission 

staff estimates a total annual burden of 

18 hours for this collection of 

information. 

Rule 0–2 and Form ADV–NR do not 

require recordkeeping or records 

retention. The collection of information 

requirements under the rule and form 

are mandatory. The information 

collected pursuant to the rule and Form 

ADV–NR is a filing with the 

Commission. This filing is not kept 

confidential and must be preserved 

until at least three years after 

termination of the enterprise. 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. 

General comments regarding the 

above information should be directed to 

the following persons: (i) Desk Officer 

for the Securities and Exchange 

Commission, Office of Management and 

Budget, Room 10102, New Executive 

Office Building, Washington, DC 20503 

or send an e-mail to Shagufta Ahmed at 

Shagufta_Ahmed@omb.eop.gov; and (ii) 

Charles Boucher, Director/CIO, 

Securities and Exchange Commission, 

C/O Remi Pavlik-Simon, 6432 General 

Green Way, Alexandria, VA 22312; or 

send an e-mail to: 

PRA_Mailbox@sec.gov. Comments must 

be submitted to OMB within 30 days of 

this notice. 

Dated: August 30, 2010. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–22028 Filed 9–2–10; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Submission for OMB Review; 

Comment Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of Investor 

Education and Advocacy, 

Washington, DC 20549–0213. 

Extension: 

Rule 7d–1; SEC File No. 270–176; OMB 

Control No. 3235–0311. 

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’’) has submitted to the 

Office of Management and Budget a 


srobinson on DSKHWCL6B1PROD with NOTICES