
[Federal Register: November 18, 2008 (Volume 73, Number 223)]
[Notices]               
[Page 68463-68464]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr18no08-120]                         

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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 34b-1; File No. 270-305; OMB Control No. 3235-0346.

    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'') 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 34b-1 under the Investment Company Act (17 CFR 270.34b-1) 
governs sales material that accompanies or follows the delivery of a 
statutory prospectus (``sales literature'').\1\ Rule 34b-1 deems to be 
materially misleading any investment company sales literature required 
to be filed with the Commission by Section 24(b) of the Investment 
Company Act (15 U.S.C. 80a-24(b)) \2\ that includes performance data, 
unless the sales literature also includes the appropriate uniformly 
computed data and the legend disclosure required in investment company 
advertisements by rule 482 under the Securities Act of 1933 (17 CFR 
230.482). Requiring the inclusion of such standardized performance data 
in sales literature is designed to prevent misleading performance 
claims by funds and to enable investors to make meaningful comparisons 
among fund performance claims.
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    \1\ A ``statutory prospectus'' is a prospectus that meets the 
requirements of Section 10(a) of the Securities Act of 1933 (15 
U.S.C. 77j(a)).
    \2\ Sales literature addressed to or intended for distribution 
to prospective investors is deemed filed with the Commission for 
purposes of Section 24(b) of the Investment Company Act upon filing 
with a national securities association registered under Section 15A 
of the Securities Exchange Act of 1934 that has adopted rules 
providing standards for the investment company advertising practices 
of its members and has established and implemented procedures to 
review that advertising. See Rule 24b-3 under the Investment Company 
Act (17 CFR 270.24b-3).
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    The Commission estimates that 3,210 respondents file approximately 
13,001 responses with the Commission that include the information 
required by rule 34b-1. The burden from rule 34b-1 requires 2.41 hours 
per response resulting from creating the information required under 
rule 34b-1. The total burden hours for rule 34b-1 is 31,332 per year in 
the aggregate (13,001 responses x 2.41 hours per response). Estimates 
of average burden hours are made solely for the purposes of the 
Paperwork Reduction Act, and are not derived from a comprehensive or 
even a representative survey or study of the costs of Commission rules 
and forms.
    The collection of information under rule 34b-1 is mandatory. The 
information provided under rule 34b-1 is not kept confidential. The 
Commission 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.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proposed performance of 
the functions of the agency, including whether 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

[[Page 68464]]

to comments and suggestions submitted in writing within 60 days of this 
publication.
    Please direct your written comments to Lewis W. Walker, Acting 
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: November 10, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-27429 Filed 11-17-08; 8:45 am]

BILLING CODE 8011-01-P
