[Federal Register Volume 67, Number 224 (Wednesday, November 20, 2002)]
[Notices]
[Page 70096]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-29484]



[[Page 70096]]

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SECURITIES AND EXCHANGE COMMISSION

[Extension: Rule 20a-1, SEC File No. 270-132, OMB Control No. 3235-
0158]


Submission for OMB Review; Comment Request

    Upon Written Request, Copies Available From: Securities and 
Exchange Commission, Office of Filings and Information Services, 
Washington, DC 20549.

    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 of the collection of information is ``Rule 20a-1 under 
the Investment Company Act of 1940, Solicitation of Proxies, Consents 
and Authorizations.'' Rule 20a-1(a) requires that the solicitation of a 
proxy, consent or authorization with respect to a security issued by a 
registered fund be in compliance with Regulation 14A (17 CFR 240.14a-1 
to 14a-104), Schedule 14A (17 CFR 240.14a-101), and all other rules and 
regulations adopted under section 14(a) of the Securities Exchange Act 
of 1934 (15 U.S.C. 78n(a)). Rule 20a-1(b) requires a fund's investment 
adviser, or a prospective adviser, to transmit to the person making a 
proxy solicitation the information necessary to enable that person to 
comply with the rules and regulations applicable to the solicitation.
    Regulation 14A and Schedule 14A establish the disclosure 
requirements applicable to the solicitation of proxies, consents and 
authorizations. In particular, Item 22 of Schedule 14A contains 
extensive disclosure requirements for registered investment company 
proxy statements. Among other things, it requires the disclosure of 
information about fund fee or expense increases, the election of 
directors, the approval of an investment advisory contract and the 
approval of a distribution plan.
    The Commission requires the dissemination of this information to 
assist investors in understanding their fund investments and the 
choices they may be asked to make regarding fund operations. The 
Commission does not use the information in proxies directly, but 
reviews proxy statement filings for compliance with applicable rules.
    It is estimated that approximately 1,000 registered investment 
companies are required to file one proxy statement annually. The total 
annual reporting and recordkeeping burden of the collection of 
information is estimated to be approximately 106,200 hours (1,000 
responses x 106.2 hours per response).
    Rule 20a-1 does not involve any recordkeeping requirements. 
Providing the information required by the rule is mandatory and 
information provided under the rule 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.
    Written comments regarding the above information should be directed 
to the following persons: (i) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10202, New Executive Office 
Building, Washington, DC 20503; and (ii) Kenneth A. Fogash, Acting 
Associate Executive Director/CIO, Office of Information Technology, 
Securities and Exchange Commission, 450 Fifth Street, NW., Washington, 
DC 20549. Comments must be submitted to OMB within 30 days of this 
notice.

    Dated: November 13, 2002.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. 02-29484 Filed 11-19-02; 8:45 am]
BILLING CODE 8010-01-P