[Federal Register Volume 85, Number 237 (Wednesday, December 9, 2020)]
[Notices]
[Pages 79248-79249]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-27028]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-317, OMB Control No. 3235-0360]


Submission for OMB Review; Comment Request

Upon Written Request Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services,

[[Page 79249]]

100 F Street NE, Washington, DC 20549-02736

Extension:
    Form N-17f-2

    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 Investment Company 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 it takes: (i) On average 1.25 hours 
of fund accounting personnel at a total cost of $272 to prepare each 
Form N-17f-2; \1\ and (ii) .75 hours of administrative assistant time 
at a total cost of $61 to file the Form N-17f-2 with the Commission.\2\ 
Approximately 201 funds currently file Form N-17f-2 with the 
Commission. Commission staff estimates that on average each fund files 
Form N-17f-2 three times annually for a total annual hourly burden per 
fund of approximately 6 hours at a total cost of $1,002. The total 
annual hour burden for Form N-17f-2 is therefore estimated to be 
approximately 1,206 hours with a total cost of approximately 
$201,402.\3\ Form N-17f-2 does not impose any paperwork-related cost 
burden other than this internal hour cost.
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    \1\ This estimate is based on the following calculation: 1.25 x 
$218 (fund senior accountant's hourly rate) = $272.
    \2\ This estimate is based on the following calculation: .75 x 
$82 (administrative assistant hourly rate) = $61.
    \3\ This estimate is based on the following calculation: 201 
funds x $1,002 (total annual cost per fund) = $201,402.
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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.
    The public may view background documentation for this information 
collection at the following website: www.reginfo.gov. Find this 
particular information collection by selecting ``Currently under 30-day 
Review--Open for Public Comments'' or by using the search function. 
Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to (i) www.reginfo.gov/public/do/PRAMain and (ii) David Bottom, 
Director/Chief Information Officer, Securities and Exchange Commission, 
c/o Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or by 
sending an email to: PRA_Mailbox@sec.gov.

    Dated: December 4, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-27028 Filed 12-8-20; 8:45 am]
BILLING CODE 8011-01-P


