
[Federal Register Volume 77, Number 38 (Monday, February 27, 2012)]
[Notices]
[Pages 11601-11602]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-4422]


=======================================================================
-----------------------------------------------------------------------

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:
    Mutual Fund Interactive Data; SEC File No. 270-580; OMB Control 
No. 3235-0642.

    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 (``OMB'') for extension and approval.
    Open-end management investment companies (``funds'') are required 
to submit to the Commission information included in their registration 
statements, or information included in or amended by post-effective 
amendments thereto, in response to Items 2, 3, and 4 (``risk/return 
summary information'') of Form N-1A (17 CFR 239.15A and 274.11A) in 
interactive data format and to post it on their Web sites, if any, in 
interactive data form. In addition, funds are required to submit an 
interactive data file to the Commission for any form of prospectus 
filed pursuant to rule 497(c) or (e) (17 CFR 230.497) under the 
Securities Act of 1933 (15 U.S.C. 77a et seq.) that includes risk/
return summary information that varies from the registration statement 
and to post the interactive data file on their Web sites, if any.
    The title for the collection of information for submitting risk/
return summary information in interactive data format is ``Mutual Fund 
Interactive Data.'' This collection of information relates to 
regulations and forms adopted under the Securities Act, the Securities 
Exchange Act of 1934 (15 U.S.C. 78a et seq.), and the Investment 
Company Act of 1940 (15 U.S.C. 80a-1 et seq.) that set forth disclosure 
requirements for funds and other issuers. The purpose of the Mutual 
Fund Interactive Data requirements is to make risk/return summary 
information easier for investors to analyze and to assist in automating 
regulatory filings and business information processing.
    Funds are required to file an initial registration statement on 
Form N-1A and to update that registration statement annually. The 
Commission estimates that each fund will submit one interactive data 
document as an exhibit to a registration statement or a post-effective 
amendment thereto on Form N-1A that includes or amends information 
provided in response to Items 2, 3 or 4 annually. In addition, based on 
a review by Commission staff of Mutual Fund Interactive Data 
submissions in calendar year 2011, the Commission estimates that 33% of 
funds will provide risk/return summary information as interactive data 
in additional filings submitted pursuant to rule 485(b) (17 CFR 
230.485(b)) or rule 497 under the Securities Act annually.
    The Commission estimates that the total annual hour burden 
associated with tagging risk/return summary information is 
approximately 11 hours. Based on estimates of 9,800 funds each 
submitting one interactive data document as an exhibit to a 
registration

[[Page 11602]]

statement or post-effective amendment thereto and 3,200 funds 
submitting an additional interactive data document as an exhibit to a 
filing pursuant to rule 485(b) or rule 497, each incurring 11 hours per 
year on average, the Commission estimates that, in the aggregate, the 
tagging of risk/return summary information will result in approximately 
143,000 annual burden hours. In addition, the Commission estimates that 
funds will require an average of approximately one burden hour to post 
interactive data to their Web sites. Based on estimates of 9,800 funds 
each posting one interactive data document as an exhibit to a 
registration statement or post-effective amendment thereto and 3,200 
funds posting an additional interactive data document as an exhibit to 
a filing pursuant to rule 485(b) or rule 497, each incurring one burden 
hour per year on average, the Commission estimates that, in the 
aggregate, Mutual Fund Interactive Data Web site posting requirements 
will result in approximately 13,000 annual burden hours.
    The Commission estimates that the average cost burden per fund is 
$841 per year. Based on the estimate of 9,800 funds using software and/
or consulting services at an annual cost of $841, the Commission 
estimates that, in the aggregate, the total external costs to the 
industry will be approximately $8.2 million.
    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 representative survey or study of the costs of Commission rules 
and forms.
    The collection of information under the Mutual Fund Interactive 
Data requirements is mandatory for all funds. Responses to the 
disclosure requirements 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 OMB 
control number.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the 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 to comments and suggestions submitted in writing within 60 
days of this publication.
    Please direct your written comments to 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.

    Dated: February 21, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-4422 Filed 2-24-12; 8:45 am]
BILLING CODE 8011-01-P


