Document ID: SEC-2006-0163-0001
Agency: sec
Document Type: Notice
Title: Agency information collection activities; proposals, submissions, and approvals
Posted Date: 2006-02-09T05:00Z

[Federal Register: February 9, 2006 (Volume 71, Number 27)]
[Notices]               
[Page 6799]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr09fe06-90]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Submission for OMB Review; Comment Request

Upon Written Request, Copy Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549.

Extension:
     Rule 34b-1; File No. 270-305; OMB Control No. 3235-0346.

    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 (``OMB'') a request for extension of the previously approved 
collection of information discussed below.
     Rule 34b-1 (17 CFR 270.34b-1) under the Investment Company 
Act of 1940, Sales Literature Deemed to be Misleading.
    Rule 34b-1 under the Investment Company Act governs sales material 
that accompanies or follows the delivery of a statutory prospectus 
(``sales literature''). Rule 34b-1 deems to be materially misleading 
any investment company sales literature, required to be filed with the 
Commission by section 24(b) of the Investment Company Act [15 U.S.C. 
80a-24(b)],\1\ that includes performance data unless it also includes 
the appropriate uniformly computed data and the legend disclosure 
required in advertisements by rule 482 under the Securities Act of 1933 
[17 CFR 230.482]. Requiring the inclusion of such standardized 
performance data in sales literature is designed to prevent misleading 
performance claims by funds and to enable investors to make meaningful 
comparisons among fund performance claims.
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    \1\ Sales literature addressed to or intended for distribution 
to prospective investors shall be deemed filed with the Commission 
for purposes of section 24(b) of the Investment Company Act upon 
filing with a national securities association registered under 
section 15A of the Securities Exchange Act of 1934 that has adopted 
rules providing standards for the investment company advertising 
practices of its members and has established and implemented 
procedures to review that advertising. See Rule 24b-3 under the 
Investment Company Act [17 CFR 270.24b-3].
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    The Commission estimates that 4,500 respondents file approximately 
37,000 responses with the Commission, which include the information 
required by rule 34b-1. The burden from rule 34b-1 requires slightly 
more than 2.4 hours per response resulting from creating the 
information required under rule 34b-1.\2\ The total burden hours for 
rule 34b-1 are 89,143 per year in the aggregate (37,000 responses x 
2.4092702 hours per response). 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 a representative survey or 
study of the costs of Commission rules and forms.
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    \2\ The estimated burden per response is 2.9 hours for 686 
responses and 2.4 hours for the remaining, giving a more exact 
weighted average burden per response of approximately 2.4092702.
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    The collection of information under rule 34b-1 is mandatory. The 
information provided under rule 34b-1 is not 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 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 Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, DC 20503, or e-mail to: 
David_Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief 

Information Officer, Office of Information Technology, Securities and 
Exchange Commission, 100 F Street, NE., Washington, DC 20549. Comments 
must be submitted to OMB within 30 days of this notice.

    Dated: January 30, 2006.
Nancy M. Morris,
Secretary.
 [FR Doc. E6-1786 Filed 2-8-06; 8:45 am]

BILLING CODE 8010-01-P