Document ID: SEC-2009-0406-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2009-03-26T04:00Z

[Federal Register: March 26, 2009 (Volume 74, Number 57)]
[Notices]               
[Page 13275]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr26mr09-117]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Rule 20a-1, SEC File No. 270-132, OMB Control No. 3235-0158.

    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'') 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 for extension and approval.
    Rule 20a-1 (17 CFR 270.20a-1) under the Investment Company Act of 
1940 (15 U.S.C. 80a-1 et seq.) requires that the solicitation of a 
proxy, consent, or authorization with respect to a security issued by a 
registered investment company (``fund'') be in compliance with 
Regulation 14A (17 CFR 240.14a-1 et seq.), Schedule 14A (17 CFR 
240.14a-101), and all other rules and regulations adopted under section 
14(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78n(a)). It 
also requires a fund's investment adviser, or a prospective adviser, to 
transmit to the person making a proxy solicitation the information 
necessary to enable that person to comply with the rules and 
regulations applicable to the solicitation. In addition, rule 20a-1 
instructs registered investment companies, that have made a public 
offering of securities and that hold security holder votes for which 
proxies, consents, or authorizations are not being solicited, to refer 
to the Commission's rules governing information statements.
    Regulation 14A and Schedule 14A establish the disclosure 
requirements applicable to the solicitation of proxies, consents and 
authorizations. In particular, Item 22 of Schedule 14A contains 
extensive disclosure requirements for fund proxy statements. Among 
other things, it requires the disclosure of information about fund fee 
or expense increases, the election of directors, the approval of an 
investment advisory contract and the approval of a distribution plan.
    The Commission requires the dissemination of this information to 
assist investors in understanding their fund investments and the 
choices they may be asked to make regarding fund operations. The 
Commission does not use the information in proxies directly, but 
reviews proxy statement filings for compliance with applicable rules.
    It is estimated that funds file approximately 1,225 proxy 
solicitations annually with the Commission. That figure includes 
multiple filings by some funds. The total annual reporting and 
recordkeeping burden of the collection of information is estimated to 
be approximately 130,095 hours (1,225 responses x 106.2 hours per 
response).
    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 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.

    Dated: March 18, 2009.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E9-6658 Filed 3-25-09; 8:45 am]

BILLING CODE 8010-01-P