76410 Federal Register / Vol. 79, No. 245 / Monday, December 22, 2014 / Notices 

(44 U.S.C. 3501 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 (‘‘OMB’’) for 

extension and approval. 

Rule 35d–1 (17 CFR 270.35d-1) under 

the Investment Company Act of 1940 

(15 U.S.C. 80a–1 et seq.) defines as 

‘‘materially deceptive and misleading’’ 

for purposes of Section 35(d), among 

other things, a name suggesting that a 

registered investment company or series 

thereof (a ‘‘fund’’) focuses its 

investments in a particular type of 

investment or investments, in 

investments in a particular industry or 

group of industries, or in investments in 

a particular country or geographic 

region, unless, among other things, the 

fund adopts a certain investment policy. 

Rule 35d–1 further requires either that 

the investment policy is fundamental or 

that the fund has adopted a policy to 

provide its shareholders with at least 60 

days prior notice of any change in the 

investment policy (‘‘notice to 

shareholders’’). The rule’s notice to 

shareholders provision is intended to 

ensure that when shareholders purchase 

shares in a fund based, at least in part, 

on its name, and with the expectation 

that it will follow the investment policy 

suggested by that name, they will have 

sufficient time to decide whether to 

redeem their shares in the event that the 

fund decides to pursue a different 

investment policy. 

The Commission estimates that there 

are approximately 11,400 open-end and 

closed-end funds that have names that 

are covered by the rule. The 

Commission estimates that of these 

11,400 funds, approximately 32 will 

provide prior notice to shareholders 

pursuant to a policy adopted in 

accordance with this rule per year. The 

Commission estimates that the annual 

burden associated with the notice to 

shareholders requirement of the rule is 

20 hours per response, for annual total 

of 640 hours per year. 

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 rule 

35d–1 is mandatory. The information 

provided under rule 35d–1 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: December 16, 2014. 

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–29811 Filed 12–19–14; 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 19d–2. 

OMB Control No. 3235–0205, SEC File No. 

270–204. 

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 existing collection of information 

provided for in Rule 19d–2— 

Applications for Stays of Final 

Disciplinary Sanction (17 CFR 240.19d– 

2) under the Securities Exchange Act of 

1943 (15 U.S.C. 78a et seq.) (‘‘Exchange 

Act’’). The Commission plans to submit 

this existing collection of information to 

the Office of Management and Budget 

(‘‘OMB’’) for extension and approval. 

Rule 19d–2 under the Exchange Act 

prescribes the form and content of 

applications to the Commission by 

persons desiring stays of final 

disciplinary sanctions and summary 

action of self-regulatory organizations 

(‘‘SROs’’) for which the Commission is 

the appropriate regulatory agency. 

It is estimated that approximately 

three respondents will utilize this 

application procedure annually, with a 

total burden of nine hours, based upon 

past submissions. The staff estimates 

that the average number of hours 

necessary to comply with the 

requirements of Rule 19d–2 is 3 hours. 

Based on the most recent available 

information, the Commission staff 

estimates that the internal labor cost to 

respondents of complying with the 

requirements of Rule 19d–2 is $990 per 

response. Therefore, the Commission 

staff estimates that the total internal 

labor cost per respondent is $990 (1 

response/respondent/year × $990 cost/

response), for a total annual internal 

labor cost to all respondents of $2,970 

($990 cost/respondent × 3 respondents). 

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. 

The Commission may not conduct or 

sponsor a collection of information 

unless it displays a currently valid 

control number. No person shall be 

subject to any penalty for failing to 

comply with a collection of information 

subject to the PRA that does not display 

a valid Office of Management and 

Budget 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: December 16, 2014. 

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–29810 Filed 12–19–14; 8:45 am] 

BILLING CODE 8011–01–P 


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