Document ID: SEC-2009-0015-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals,
Posted Date: 2009-01-06T05:00Z

[Federal Register: January 6, 2009 (Volume 74, Number 3)]
[Notices]               
[Page 475]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr06ja09-70]                         

-----------------------------------------------------------------------

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:
    Form NP-X; SEC File No. 270-524; OMB Control No. 3235-0582.

    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 of the collection of information is ``Form N-PX (17 CFR 
274.129) under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et 
seq.) (``Investment Company Act''), Annual Report of Proxy Voting 
Record.'' Rule 30b1-4 (17 CFR 270.30b1-4) under the Investment Company 
Act of 1940 requires every registered management investment company, 
other than a small business investment company (``Fund''), to file Form 
N-PX not later than August 31 of each year. Funds use Form N-PX to file 
annual reports with the Commission containing their complete proxy 
voting record for the most recent twelve-month period ended June 30. 
Funds also use Form N-PX to inform the Commission that certain of their 
portfolios do not hold any equity securities and have no proxy record 
to file.
    The Commission requires the dissemination of this information in 
order to meet the filing and disclosure requirements of the Investment 
Company Act and to enable Funds to provide investors with the 
information necessary to evaluate an investment in the Fund. The 
information filed with the Commission also permits the verification of 
compliance with securities law requirements and assures the public 
availability and dissemination of the information. Requiring a Fund to 
file its annual reports on Form N-PX has the advantages of making each 
Fund's proxy voting record available within a relatively short period 
of time after the proxy voting season, and of providing disclosure of 
all Funds' proxy voting records over a uniform period of time.
    There are approximately 3,800 Funds registered with the Commission, 
representing approximately 9,400 Fund portfolios, which are required to 
file Form N-PX.\1\ The 9,400 portfolios are comprised of 6,200 
portfolios holding equity securities and 3,200 portfolios holding no 
equity securities. The staff estimates that portfolios holding no 
equity securities require approximately a 0.17 hour burden per response 
and those holding equity securities require 14.4 hours per response. 
The overall estimated annual burden is therefore 89,824 hours ((6,200 
responses x 14.4 hours per response for equity holding portfolios) + 
(3,200 responses x 0.17 hours per response for non-equity holding 
portfolios)).
---------------------------------------------------------------------------

    \1\ The estimate of 3,800 Funds is based on the number of 
management investment companies currently registered with the 
Commission. We estimate, based on data from the Investment Company 
Institute and other sources, that there are approximately 5,700 Fund 
portfolios that invest primarily in equity securities, 500 
``hybrid'' or bond portfolios that may hold some equity securities, 
2,400 bond Funds that hold no equity securities, and 800 money 
market Funds, for a total of 9,400 portfolios required to file Form 
N-PX.
---------------------------------------------------------------------------

    Form N-PX does not involve any recordkeeping requirements. 
Providing the information required by the rule is mandatory and 
information provided under the rule 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 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 send an e-mail to: Shagufta_
Ahmed@omb.eop.gov; and (ii) Charles Boucher Director/CIO, Securities 
and Exchange Commission, C/O Shirley Martinson, 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: December 29, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-31354 Filed 1-5-09; 8:45 am]

BILLING CODE 8011-01-P