
[Federal Register Volume 76, Number 233 (Monday, December 5, 2011)]
[Notices]
[Page 75922]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-31100]


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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 and Advocacy, Washington, DC 
20549-0213.

Extension:
    Form N-PX, SEC File No. 270-524, OMB Control No. 3235-0582.

    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 (``Commission'') has submitted to the Office of Management 
and Budget a request for extension of the previously approved 
collection of information discussed below.
    The title for the collection of information is ``Form N-PX (17 CFR 
274.129) under the Investment Company Act of 1940, Annual Report of 
Proxy Voting Record.'' Rule 30b1-4 (17 CFR 270.30b1-4) under the 
Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) requires every 
registered management investment company, other than a small business 
investment company registered on Form N-5 (``Funds''), to file Form N-
PX not later than August 31 of each year. Funds use Form N-PX to file 
annual reports with the Commission containing their complete proxy 
voting record for the most recent twelve-month period ended June 30.
    The Commission estimates that there are approximately 2,500 Funds 
registered with the Commission, representing approximately 10,000 Fund 
portfolios, which are required to file Form N-PX.\1\ The 10,000 
portfolios are comprised of 6,200 portfolios holding equity securities 
and 3,800 portfolios holding no equity securities. The staff estimates 
that portfolios holding no equity securities require approximately a 
0.17 hour burden per response and those holding equity securities 
require 7.2 hours per response. The overall estimated annual burden is 
therefore approximately 45,300 hours ((6,200 responses x 7.2 hours per 
response for equity holding portfolios) + (3,800 responses x 0.17 hours 
per response for non-equity holding portfolios)). Based on the 
estimated wage rate, the total cost to the industry of the hour burden 
for complying with Form N-PX would be approximately $14.5 million.
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    \1\ The estimate of 2,500 Funds is based on the number of 
management investment companies currently registered with the 
Commission. We estimate, based on data from the Investment Company 
Institute and other sources, that there are approximately 5,700 Fund 
portfolios that invest primarily in equity securities, 500 
``hybrid'' or bond portfolios that may hold some equity securities, 
3,200 bond Funds that hold no equity securities, and 600 money 
market Funds, for a total of 10,000 portfolios required to file Form 
N-PX.
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    The Commission also estimates that portfolios holding equity 
securities will bear an external cost burden of $1,000 per portfolio to 
prepare and update Form N-PX. Based on this estimate, the Commission 
estimates that the total annualized cost burden for Form N-PX is $6.2 
million (6,200 responses x $1,000 per response = $6,200,000).
    The collection of information under Form N-PX is mandatory. The 
information provided under the form is not 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 OMB 
control number.
    The public may view the background documentation for this 
information collection at the following Web site: http://www.reginfo.gov. Comments should be directed to: (i) Desk Officer for 
the Securities and Exchange Commission, Office of Information and 
Regulatory Affairs, Office of Management and Budget, Room 10102, New 
Executive Office Building, Washington, DC 20503, or by sending an email 
to: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 6432 General Green Way, Alexandria, VA 22312, or send an 
email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB 
within 30 days of this notice.

    Dated: November 29, 2011.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2011-31100 Filed 12-2-11; 8:45 am]
BILLING CODE 8011-01-P


