71462 Federal Register / Vol. 79, No. 231 / Tuesday, December 2, 2014 / Notices 

Mutual Fund Interactive Data 

requirements is to make risk/return 

summary information easier for 

investors to analyze and to assist in 

automating regulatory filings and 

business information processing. 

Funds are required to file an initial 

registration statement on Form N–1A 

and to update that registration statement 

annually. The Commission estimates 

that each fund will submit one 

interactive data document as an exhibit 

to a registration statement or a posteffective amendment thereto on Form 

N–1A that includes or amends 

information provided in response to 

Items 2, 3 or 4 annually. In addition, 

based on a review by Commission staff 

of Mutual Fund Interactive Data 

submissions in calendar year 2013, the 

Commission estimates that 36% of 

funds will provide risk/return summary 

information as interactive data in 

additional filings submitted pursuant to 

rule 485(b) (17 CFR 230.485(b)) or rule 

497 under the Securities Act annually. 

The Commission estimates that the 

total annual hour burden associated 

with tagging risk/return summary 

information is approximately 11 hours. 

Based on estimates of 10,559 funds each 

submitting one interactive data 

document as an exhibit to a registration 

statement or post-effective amendment 

thereto and 3,801 funds submitting an 

additional interactive data document as 

an exhibit to a filing pursuant to rule 

485(b) or rule 497, each incurring 11 

hours per year on average, the 

Commission estimates that, in the 

aggregate, the tagging of risk/return 

summary information will result in 

approximately 157,960 annual burden 

hours. In addition, the Commission 

estimates that funds will require an 

average of approximately one burden 

hour to post interactive data to their 

Web sites. Based on estimates of 10,559 

funds each posting one interactive data 

document as an exhibit to a registration 

statement or post-effective amendment 

thereto and 3,801 funds posting an 

additional interactive data document as 

an exhibit to a filing pursuant to rule 

485(b) or rule 497, each incurring one 

burden hour per year on average, the 

Commission estimates that, in the 

aggregate, Mutual Fund Interactive Data 

Web site posting requirements will 

result in approximately 14,360 annual 

burden hours. 

The Commission estimates that the 

average cost burden per fund is $890 per 

year. Based on the estimate of 10,559 

funds using software and/or consulting 

services at an annual cost of $890, the 

Commission estimates that, in the 

aggregate, the total external costs to the 

industry will be approximately $9.4 

million. 

Estimates of average burden hours are 

made solely for the 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 collection of information under 

the Mutual Fund Interactive Data 

requirements is mandatory for all funds. 

Responses to the disclosure 

requirements 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 

agency, including whether the 

information will have practical utility; 

(b) the accuracy of the agency’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 Pamela Dyson, Acting Director/Chief 

Information Officer, Securities and 

Exchange Commission, C/O Remi 

Pavlik-Simon, 100 F Street NE., 

Washington, DC 20549; or send an email 

to: PRA_Mailbox@sec.gov. 

Dated: November 25, 2014. 

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–28312 Filed 12–1–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Proposed Collection; Comment 

Request 

Upon Written Request, Copies Available 

From: U.S. Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE., Washington, DC 

20549–2736. 

Extension: 

Rule 12f–1; SEC File No. 270–139, OMB 

Control No. 3235–0128. 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(‘‘PRA) (44 U.S.C. 3501 et seq.), the 

Securities and Exchange Commission 

(‘‘Commission’’) is soliciting comments 

on the collection of information 

provided for in Rule 12f–1 (17 CFR 

240.12f–1), under the Securities 

Exchange Act of 1934 (‘‘Act’’) (15 U.S.C. 

78a et seq.). The Commission plans to 

submit this existing collection of 

information to the Office of 

Management and Budget (‘‘OMB’’) for 

extension and approval. 

Rule 12f–1 (the ‘‘Rule’’), originally 

adopted in 1934 pursuant to Sections 

12(f) and 23(a) of the Act, as modified 

in 1995 and 2005, sets forth the 

information which an exchange must 

include in an application to reinstate its 

ability to extend unlisted trading 

privileges to any security for which 

such unlisted trading privileges have 

been suspended by the Commission, 

pursuant to Section 12(f)(2)(A) of the 

Act. An application must provide the 

name of the issuer, the title of the 

security, the name of each national 

securities exchange, if any, on which 

the security is listed or admitted to 

unlisted trading privileges, whether 

transaction information concerning the 

security is reported pursuant to an 

effective transaction reporting plan 

contemplated by Rule 601 of Regulation 

NMS, the date of the Commission’s 

suspension of unlisted trading 

privileges in the security on the 

exchange, and any other pertinent 

information. Rule 12f–1 further requires 

a national securities exchange seeking to 

reinstate its ability to extend unlisted 

trading privileges to a security to 

indicate that it has provided a copy of 

such application to the issuer of the 

security, as well as to any other national 

securities exchange on which the 

security is listed or admitted to unlisted 

trading privileges. 

The information required by Rule 

12f–1 enables the Commission to make 

the necessary findings under the Act 

prior to granting applications to 

reinstate unlisted trading privileges. 

This information is also made available 

to members of the public who may wish 

to comment upon the applications. 

Without the Rule, the Commission 

would be unable to fulfill these 

statutory responsibilities. 

There are currently 18 national 

securities exchanges subject to Rule 

12f–1. The burden of complying with 

Rule 12f–1 arises when a potential 

respondent seeks to reinstate its ability 

to extend unlisted trading privileges to 

any security for which unlisted trading 

privileges have been suspended by the 

Commission, pursuant to Section 

12(f)(2)(A) of the Act. The staff estimates 

that each application would require 

approximately one hour to complete. 


rljohnson on DSK3VPTVN1PROD with NOTICES
Federal Register / Vol. 79, No. 231 / Tuesday, December 2, 2014 / Notices 71463 

1See Securities Exchange Act Release No. 98 

(February 12, 1935). 

2See Securities Exchange Act Release No. 7011 

(February 5, 1963), 28 FR 1506 (February 16, 1963). 

3Rule 12d2–2 prescribes the circumstances under 

which a security may be delisted from an exchange 

and withdrawn from registration under Section 

12(b) of the Act, and provides the procedures for 

taking such action. 

4 In fact, some exchanges do not file any trading 

suspension reports in a given year. 

Thus each potential respondent would 

incur on average one burden hour in 

complying with the Rule. 

The Commission staff estimates that 

there could be as many as 18 responses 

annually and that each respondent’s 

related cost of compliance with Rule 

12f–1 would be $199.00, or, the cost of 

one hour of professional work of a 

paralegal needed to complete the 

application. The total annual related 

reporting cost for all potential 

respondents, therefore, is $3,582 (18 

responses × $199.00 per response). 

Compliance with Rule 12f–1 is 

mandatory. Rule 12f–1 does not have a 

record retention requirement per se. 

However, responses made pursuant to 

Rule 12f–1 are subject to the 

recordkeeping requirements of Rules 

17a–3 and 17a–4 of the Act. Information 

received in response to Rule 12f–1 shall 

not be kept confidential; the information 

collected is public information. 

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. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 

Please direct your written comments 

to: Pamela Dyson, Acting Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington, 

DC 20549 or send an email to: PRA_

Mailbox@sec.gov. 

Dated: November 25, 2014. 

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–28306 Filed 12–1–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

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 12d2–1; SEC File No. 270–98, OMB 

Control No. 3235–0081. 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the 

Securities and Exchange Commission 

(‘‘Commission’’) is soliciting comments 

on the collection of information 

provided for in Rule 12d2–1(17 CFR 

240.12d2–1) under the Securities 

Exchange Act of 1934 (15 U.S.C. 78b et 

seq.) (‘‘Act’’). The Commission plans to 

submit this existing collection of 

information to the Office of 

Management and Budget (‘‘OMB’’) for 

extension and approval. 

On February 12, 1935, the 

Commission adopted Rule 12d2–1 1

(‘‘Suspension of Trading’’) to establish 

the procedures by which a national 

securities exchange may suspend from 

trading a security that is listed and 

registered on the exchange under 

Section 12(d) of the Act.2 Under Rule 

12d2–1, an exchange is permitted to 

suspend from trading a listed security in 

accordance with its rules, and must 

promptly notify the Commission of any 

such suspension, along with the 

effective date and the reasons for the 

suspension. 

Any such suspension may be 

continued until such time as the 

Commission may determine that the 

suspension is designed to evade the 

provisions of Section 12(d) of the Act 

and Rule 12d2–2 thereunder.3 During 

the continuance of such suspension 

under Rule 12d2–1, the exchange is 

required to notify the Commission 

promptly of any change in the reasons 

for the suspension. Upon the restoration 

to trading of any security suspended 

under Rule 12d2–1, the exchange must 

notify the Commission promptly of the 

effective date of such restoration. 

The trading suspension notices serve 

a number of purposes. First, they inform 

the Commission that an exchange has 

suspended from trading a listed security 

or reintroduced trading in a previously 

suspended security. They also provide 

the Commission with information 

necessary for it to determine that the 

suspension has been accomplished in 

accordance with the rules of the 

exchange, and to verify that the 

exchange has not evaded the 

requirements of Section 12(d) of the Act 

and Rule 12d2–2 thereunder by 

improperly employing a trading 

suspension. Without Rule 12d2–1, the 

Commission would be unable to fully 

implement these statutory 

responsibilities. 

There are 18 national securities 

exchanges that are subject to Rule 12d2– 

1. The burden of complying with Rule 

12d2–1 is not evenly distributed among 

the exchanges, however, since there are 

many more securities listed on the New 

York Stock Exchange, Inc., the 

NASDAQ Stock Market, and the 

NYSEMKT LLC than on the other 

exchanges.4 However, for purposes of 

this filing, the Commission staff has 

assumed that the number of responses is 

evenly divided among the exchanges. 

There are approximately 1,600 

responses under Rule 12d2–1 for the 

purpose of suspension of trading from 

the national securities exchanges each 

year, and the resultant aggregate annual 

reporting hour burden would be, 

assuming on average one-half reporting 

hour per response, 800 annual burden 

hours for all exchanges. The related 

internal compliance costs associated 

with these burden hours are $159,200 

per year. 

Written comments are invited on: (a) 

Whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information will have practical utility; 

(b) the accuracy of the agency’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. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 


rljohnson on DSK3VPTVN1PROD with NOTICES