Document ID: SEC-2015-2111-0004
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2021-02-10T05:00Z

[Federal Register Volume 86, Number 26 (Wednesday, February 10, 2021)]
[Notices]
[Pages 8933-8935]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-02687]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-297, OMB Control No. 3235-0336]

Submission for OMB Review; Comment Request

Revision: Form N-14

    Notice is hereby given that, under the Paperwork Reduction Act of 
1995 (44 U.S.C. 3501 et seq.) (``Paperwork Reduction Act''), the 
Securities and Exchange Commission (the ``Commission'') has submitted 
to the Office of Management and Budget (``OMB'') a request for 
extension of the previously approved collection of information 
discussed below.
    Form N-14 (17 CFR 239.23) is the form for registration under the 
Securities Act of 1933 (15 U.S.C. 77a et seq.) (``Securities Act'') of 
securities issued by management investment companies registered under 
the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) 
(``Investment Company Act'') and business development companies as 
defined by Section 2(a)(48) of the Investment Company Act in: (1) A 
transaction of the type specified in rule 145(a) under the Securities 
Act (17 CFR 230.145(a)); (2) a merger in which a vote or consent of the 
security holders of the company being acquired is not required pursuant 
to applicable state law; (3) an exchange offer for securities of the 
issuer or another person; (4) a public reoffering or resale of any 
securities acquired in an offering registered on Form N-14; or (5) two 
or more of the transactions listed in (1) through (4) registered on one 
registration statement. The principal purpose of Form N-14 is to make 
material information regarding securities to be issued in connection 
with business combination transactions available to investors. The 
information required to be filed with the Commission permits 
verification of compliance with securities law requirements and assures 
the public availability and dissemination of such information. Without 
the registration statement requirement, material information may not 
necessarily be available to investors.
    Estimates of the 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 Form N-
14 is mandatory. The information provided under Form N-14 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.
BILLING CODE 8011-01-P

[[Page 8934]]

[GRAPHIC] [TIFF OMITTED] TN10FE21.000

    As summarized in Table 1 above, the Commission has previously 
estimated that about 253 funds will make about 253 filings on Form N-14 
each year, incurring 125,883 hours of internal hour burden at a cost of 
about $43.78 million.

[[Page 8935]]

The hour burden estimates for preparing and filing reports on Form N-14 
are based on the Commission's experience with the contents of the form. 
The number of burden hours may vary depending on, among other things, 
the complexity of the filing and whether preparation of the forms is 
performed by internal staff or outside counsel.
    The amendments to Form N-14 to permit BDCs to incorporate certain 
information by reference into that form to the same extent as 
registered closed-end fund are expected to decrease the burden and 
costs for BDCs that prepare and file Forms N-14. As summarized in Table 
1 above, we estimate that the total internal burden associated with N-
14 will be 125,260 hours, at a cost of approximately $37,856,382.
    The public may view the background documentation for this 
information collection at the following website, www.reginfo.gov. 
Comments should be directed to: (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 by sending an email to: 
Lindsay.M.Abate@omb.eop.gov; and (ii) David Bottom, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Cynthia 
Roscoe, 100 F Street NE, Washington, DC 20549 or send an email to: 
PRA_Mailbox@sec.gov. Written comments and recommendations for the 
proposed information collection should be sent within 30 days of 
publication of this notice to www.reginfo.gov/public/do/PRAMain. Find 
this particular information collection by selecting ``Currently under 
30-day Review--Open for Public Comments'' or by using the search 
function.

    Dated: February 4, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-02687 Filed 2-9-21; 8:45 am]
BILLING CODE 8011-01-C