Federal Register 30-day Notice

101082

Federal Register / Vol. 89, No. 240 / Friday, December 13, 2024 / Notices

Entities likely would incur a total
burden of 10,660 burden hours per year
to comply with Rules 15Fb1–1 through
15Fb6–2 and Forms SBSE, SBSE–A,
SBSE–BD, SBSE–C and SBSE–W.
In addition, Rules 15Fb1–1 through
15Fb6–2 and Forms SBSE, SBSE–A,
SBSE–BD, SBSE–C and SBSE–W may
impose certain costs on non-resident
persons that apply to be registered with
the Commission as SBS Entities,
including an initial and ongoing costs
associated with obtaining an opinion of
counsel indicating that it can, as a
matter of law, provide the Commission
with access to its books and records and
submit to Commission examinations,
and an ongoing cost associated with
establishing and maintaining a
relationship with a U.S. agent for
service of process.
The staff estimates, based on internet
research,1 that it would cost each
nonresident SBS Entity approximately
$211 annually to appoint and maintain
a relationship with a U.S. agent for
service of process. Consequently, the
total cost for all nonresident SBS
Entities to appoint and maintain
relationships with U.S. agents for
service of process is approximately
$5,697 per year.
Nonresident SBS Entities also would
incur outside legal costs associated with
obtaining an opinion of counsel. The
staff estimates that each of the estimated
27 non-resident persons that likely will
apply to register as SBS Entities with
the Commission would incur, on
average, approximately $25,000 in
outside legal costs to obtain the opinion
of counsel necessary to register, and that
the total annualized cost for
Nonresident SBS Entities to obtain this
opinion of counsel would be
approximately $225,000. Nonresident
SBS Entities would also need to obtain
a revised opinion of counsel after any
changes in the legal or regulatory
framework that would impact the SBS
Entity’s ability to provide, or manner in
which it provides, the Commission with
prompt access to its books and records
or that impacts the Commission’s ability
to inspect and examine the SBS Entity.
We do not believe this would occur
frequently, and therefore estimate that
one non-resident entity may need to
See, e.g., https://www.incorp.com/registeredagent-services/ (as of September 13, 2024, $129 per
state per year), https://www.wolterskluwer.com/en/
solutions/ct-corporation/registered-agent-servicessolutions (as of September 13, 2024, $354 per year),
and https://www.ailcorp.com/services/registeredagent (as of September 13, 2024, $149 per year). The
staff sought websites that provided pricing
information and a comprehensive description of
their registered agent services. We calculated our
estimate by averaging the costs provided on these
three websites—($129 + $354 + $149) ÷ 3 = $211.

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recertify annually. Thus, the total
ongoing cost associated with obtaining a
revised opinion of counsel regarding the
new regulatory regime would be
approximately $25,000 annually.
Consequently, the total annualized cost
burden associated with Rules 15Fb1–1
through 15Fb6–2 and Forms SBSE,
SBSE–A, SBSE–BD, SBSE–C and SBSE–
W would be approximately $255,697
per year.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
Public Comment Instructions: The 30day public comment period for this
information collection request opens on
December 16, 2024 and closes at the end
of the day on January 13, 2025. The
public may view the full information
request and submit comments at https://
www.reginfo.gov/public/do/
PRAViewICR?ref_nbr=202409-3235-024
or email comments to
MBX.OMB.OIRA.SEC_desk_officer@
omb.eop.gov.
Dated: December 9, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–29306 Filed 12–12–24; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–318, OMB Control No.
3235–0361]

Submission for OMB Review;
Comment Request; Extension: Form
ADV–E
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
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 (the
‘‘Commission’’) has submitted to the
Office of Management and Budget a
request for extension of the previously
approved collection of information
discussed below.
Form ADV–E (17 CFR 279.8) is the
cover sheet for certificates of accounting
filed pursuant to rule 206(4)–2(a)(4)
under the Investment Advisers Act of
1940 (17 CFR 275.206(4)–(2)(a)(4)). The
rule further requires that the public
accountant file with the Commission a
Form ADV–E and accompanying
statement within four business days of
the resignation, dismissal, removal from

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consideration for being reappointed, or
other termination of its engagement.
The Commission has estimated that
compliance with the requirement to
complete Form ADV–E imposes a total
burden of approximately 0.05 hours (3
minutes) per respondent. Based on
current information from advisers
registered with the Commission, the
Commission staff estimates that 1,946
filings will be submitted with respect to
surprise examinations and 52 filings
will be submitted with respect to
termination of accountants. Based on
these estimates, the total estimated
annual burden would be 99.90 hours
((1,946 filings × .05 hours) + (52 filings
× .05 hours)).
The information provided on Form
ADV–E is mandatory. Responses will
not be kept confidential. An agency may
not conduct or sponsor a collection of
information unless it displays a
currently valid OMB control number.
No person shall be subject to any
penalty for failing to comply with a
collection of information subject to the
PRA that does not display a valid OMB
control number.
Public Comment Instructions: The 30day public comment period for this
information collection request opens on
December 16, 2024 and closes at the end
of the day on January 13, 2025. The
public may view the full information
request and submit comments at https://
www.reginfo.gov/public/do/
PRAViewICR?ref_nbr=202409-3235-022
or email comments to
MBX.OMB.OIRA.SEC_desk_officer@
omb.eop.gov.
Dated: December 9, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–29304 Filed 12–12–24; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–017, OMB Control No.
3235–0017]

Proposed Collection; Comment
Request; Extension: Rules 6a–1 and
6a–2, Form 1
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736.
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the existing collection of information

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