Rule 22c-2 requires the board of
directors (including a majority of independent directors) of most
registered investment companies ("funds") to either approve a
redemption fee of up to two percent or determine that imposition of
a redemption fee is not necessary or appropriate for the fund. Rule
22c-2 also requires a fund to enter into written agreements with
their financial intermediaries (such as broker-dealers and
retirement plan administrators) under which the fund, upon request,
can obtain certain shareholder identity and trading information
from the intermediaries.
US Code:
15
USC 80a Name of Law: Investment Company Act of 1940
There has been a decrease in
the estimates of burden hours for rule 22c-2. The decrease
primarily results from a decrease in the number of new fund groups
that form each year. Accordingly, the estimated hour burden has
decreased to 29,687.67 hours from a previously estimated 33,829.5,
a decrease of 4,141.83 hours. There has been an increase in the
cost burden associated with rule 22c-2. The increase primarily
results from the staff’s estimates of the time costs that would
result from the rule. As a result, the estimated cost burden has
increased to $40,750,000 from $40,243,000, an increase of
$507,000.
$0
No
No
No
No
No
No
Uncollected
Joel Cavanaugh 202
551-3173
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.