
[Federal Register: February 11, 2009 (Volume 74, Number 27)]
[Notices]
[Page 6924]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr11fe09-91]

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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of Investor Education Advocacy, Washington, DC
20549-0213.

Extension:
    Form N-17f-2; SEC File No. 270-317; OMB Control No. 3235-0360.

    Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 350l 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 N-17f-2 (17 CFR 274.220) under the Act is entitled
``Certificate of Accounting of Securities and Similar Investments in
the Custody of Management Investment Companies.'' Form N-17f-2 is the
cover sheet for the accountant examination certificates filed under
rule 17f-2 (17 CFR 270.17f-2) by registered management investment
companies (``funds'') maintaining custody of securities or other
investments. Form N-17f-2 facilitates the filing of the accountant's
examination certificates prepared under rule 17f-2. The use of the form
allows the certificates to be filed electronically, and increases the
accessibility of the examination certificates to both the Commission's
examination staff and interested investors by ensuring that the
certificates are filed under the proper Commission file number and the
correct name of a fund.
    Commission staff estimates that on an annual basis it takes: (i) On
average 1.25 hours of fund accounting personnel at a total cost of
$188.75 to prepare each Form N-17f-2; \1\ and (ii) .75 hours of
clerical time at a total cost of $48.75 to file the Form N-17f-2 with
the Commission.\2\ Approximately 300 funds currently file Form N-17f-2
with the Commission, and each fund is required to make three filings
annually for a total annual hourly burden per fund of approximately 6
hours at a total cost of $712.50. The total annual hour burden for Form
N-17f-2 is therefore estimated to be approximately 1800 hours. Based on
the total annual costs per fund listed above, the total cost of Form N-
17f-2's collection of information requirements is estimated to be
approximately $213,750.\3\
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    \1\ This estimate is based on the following calculation: 1.25 x
$151 (fund senior accountant's hourly rate) = $188.75.
    \2\ This estimate is based on the following calculation: .75 x
$65 (secretary hourly rate) = $48.75.
    \3\ This estimate is based on the following calculation: 300
funds x $712.50 (total annual cost per fund) = $213,750.
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    The estimate of average burden hours is made solely for the
purposes of the Paperwork Reduction Act, and is not derived from a
comprehensive or even a representative survey or study of the costs of
Commission rules and forms. Complying with the collections of
information required by Form N-17f-2 is mandatory for those funds that
maintain custody of their own assets. Responses 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 control number.
    Please direct general comments regarding the above information to
the following persons: (i) Desk Officer for the Securities and Exchange
Commission, Office of Management and Budget, Room 10102, New Executive
Office Building, Washington, DC 20503 or send an e-mail to: Shagufta_
Ahmed@omb.eop.gov; and (ii) Charles Boucher, 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.
Comments must be submitted to OMB within 30 days of this notice.

     Dated: February 4, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-2850 Filed 2-10-09; 8:45 am]

BILLING CODE 8011-01-P
