[Federal Register Volume 77, Number 85 (Wednesday, May 2, 2012)]
[Notices]
[Pages 26051-26052]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-10545]


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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:
    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'') has submitted to the Office of 
Management and Budget (``OMB'') a request for extension of the 
previously approved collection of information discussed below.
    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

[[Page 26052]]

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 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.
    The public may view the background documentation for this 
information collection at the following Web site, 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: [email protected]; 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: 
[email protected]. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: April 26, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-10545 Filed 5-1-12; 8:45 am]
BILLING CODE 8011-01-P