OMB files this
comment in accordance with 5 CFR 1320.11( c ). This OMB action is
not an approval to conduct or sponsor an information collection
under the Paperwork Reduction Act of 1995. This action has no
effect on any current approvals. If OMB has assigned this ICR a new
OMB Control Number, the OMB Control Number will not appear in the
active inventory. For future submissions of this information
collection, reference the OMB Control Number provided. Pursuant to
5 CFR 1320.11(c), OMB files this comment on this information
collection request (ICR). The agency shall examine public comment
in response to the NPRM and will describe in the supporting
statement of its next collection any public comments received
regarding the collection as well as why (or why it did not)
incorporate the commenter’s recommendation. In addition, the agency
shall incorporate into the final submission supporting statement a
detailed discussion of the ICR burdens, including tables showing
the marginal differences in responses, burden hours, and cost
between the proposed and final rules. The agency shall also provide
aggregate burden estimates for all activities accounted for in the
package. The next submission to OMB must include the draft final
rule.
Inventory as of this Action
Requested
Previously Approved
11/30/2019
36 Months From Approved
11/30/2019
1,196
0
1,196
101,660
0
101,660
35,880,000
0
35,880,000
Rule 20a-1 requires that the
solicitation of a proxy, consent or authorization with respect to a
security issued by an investment company registered under the
Investment Company Act of 1940 be in compliance with the
Commission's proxy rules (e.g., Regulation 14A and Schedule 14A) to
enable security holders to make informed voting decisions. Also,
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 (e.g. Regulation 14C and Schedule 14C).
As explained in further detail
in Items 12 and 13 above, the proposed rules in Release No. 33-9723
are mandated by Section 955 of the Dodd-Frank Act. The changes in
burden of Rule 20a-1 relate to enhanced disclosure requirements in
Schedule 14A and Schedule 14C to provide transparency to
shareholders, if action is to be taken with respect to the election
of directors, about whether employees or directors are permitted to
engage in transactions that mitigate or avoid the incentive
alignment associated with equity ownership. The change in burden of
Rule 20a-1 corresponds to these proposed disclosure requirements.
For purposes of the PRA, we estimate that the amendments to Rule
20a-1 will result in a net increase of 2,691 burden hours and a net
increase in the cost burden of $358,800 for the services of outside
professionals
$100,000
No
No
No
No
Yes
No
Uncollected
Carolyn Sherman 202 551-3500
shermanc@sec.gov
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.
January 2016 EDGAR PIA.pdf
Rule 20a-1 Under the Investment Company Act of 1940, Solicitation of Proxies, Consents and Authorizations