[Federal Register Volume 87, Number 25 (Monday, February 7, 2022)]
[Notices]
[Page 6903]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-02502]



[[Page 6903]]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-802, OMB Control No. 3235-0758]


Proposed Collection; Comment Request; Extension: Rule 30e-3

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501 et seq.) (``Paperwork Reduction Act''), 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.
    Section 30(e) of the Investment Company Act of 1940 (15 U.S.C. 80a-
1 et seq.) (``Investment Company Act'') requires a registered 
investment company (``fund'') to transmit to its shareholders, at least 
semi-annually, reports containing financial statements and other 
financial information as the Commission may prescribe by rules and 
regulations. Rules 30e-1 (17 CFR 270.30e-1) and 30e-2 (17 CFR 270.30e-
2) under the Investment Company Act require most funds to send their 
shareholders annual and semiannual reports containing financial 
information on the fund.
    Rule 30e-3 (17 CFR 270.30e-3) under the Investment Company Act (15 
U.S.C. 80a-1 et seq.) provides certain funds and unit investment trusts 
with an optional method to satisfy shareholder report transmission 
requirements by making such reports and certain other materials 
publicly accessible on a website, as long as they satisfy certain other 
conditions of the rule regarding: (a) Availability of the report and 
other materials; (b) notice to investors of the website availability of 
the report; and (c) delivery of paper copies of materials upon request. 
Reliance on the rule is voluntary. Responses to the disclosure 
requirements are not kept confidential.
    The Commission estimates that 13,079 funds could rely on rule 30e-
3. Of these funds, we estimate that 90% (or 11,771 funds) are currently 
relying on rule 30e-3. With respect to these 11,771 funds, we estimate 
that 90% (or 10,594 funds) already post shareholder reports on their 
websites for other purposes. In total, rule 30e 3 will impose an 
average total annual hour burden of 24,719 hours on applicable funds. 
Based on the Commission's estimate of 24,719 hours and an estimated 
wage rate of about $362 per hour, the total annual cost to registrants 
of the hour burden for complying with rule 30 3 is about $8.9 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 rule 30e-3 is mandatory. 
The information provided under rule 30e-3 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 David Bottom, Director/Chief 
Information Officer, Securities and Exchange Commission, C/O John R. 
Pezzullo, 100 F Street NE, Washington, DC 20549; or send an email to: 
[email protected].

    Dated: February 2, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-02502 Filed 2-4-22; 8:45 am]
BILLING CODE 8011-01-P


