[Federal Register Volume 78, Number 49 (Wednesday, March 13, 2013)]
[Notices]
[Page 15978]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-05753]


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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: Form N-14; OMB Control No. 3235-0336; SEC File No. 270-
297.

    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.
    Form N-14 (17 CFR 239.23) is the form for registration under the 
Securities Act of 1933 (15 U.S.C. 77a et seq.) (``Securities Act'') of 
securities issued by management investment companies registered under 
the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) 
(``Investment Company Act'') and business development companies as 
defined by Section 2(a)(48) of the Investment Company Act in: (1) A 
transaction of the type specified in rule 145(a) under the Securities 
Act (17 CFR 230.145(a)); (2) a merger in which a vote or consent of the 
security holders of the company being acquired is not required pursuant 
to applicable state law; (3) an exchange offer for securities of the 
issuer or another person; (4) a public reoffering or resale of any 
securities acquired in an offering registered on Form N-14; or (5) two 
or more of the transactions listed in (1) through (4) registered on one 
registration statement. The principal purpose of Form N-14 is to make 
material information regarding securities to be issued in connection 
with business combination transactions available to investors. The 
information required to be filed with the Commission permits 
verification of compliance with securities law requirements and assures 
the public availability and dissemination of such information. Without 
the registration statement requirement, material information may not 
necessarily be available to investors.
    We estimate that approximately 139 funds each file one new 
registration statement on Form N-14 annually, and that 58 funds each 
file one amendment to a registration statement on Form N-14 annually. 
Based on conversations with fund representatives, we estimate that the 
reporting burden is approximately 620 hours per respondent for a new 
Form N-14 registration statement and 300 hours per respondent for 
amending the Form N-14 registration statement. This time is spent, for 
example, preparing and reviewing the registration statements. 
Accordingly, we calculate the total estimated annual internal burden of 
responding to Form N-14 to be approximately 103,580 hours. In addition 
to the burden hours, based on conversations with fund representatives, 
we estimate that the total cost burden of compliance with the 
information collection requirements of Form N-14 is approximately 
$27,500 for preparing and filing an initial registration statement on 
Form N-14 and approximately $16,000 for preparing and filing an 
amendment to a registration statement on Form N-14. This includes, for 
example, the cost of goods and services purchased to prepare and update 
registration statements on Form N-14, such as for the services of 
outside counsel. Accordingly, we calculate the total estimated annual 
cost burden of responding to Form N-14 to be approximately $4,750,500.
    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 Form N-14 is mandatory. 
The information provided under Form N-14 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 Commission'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: [email protected].

     Dated: March 6, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-05753 Filed 3-12-13; 8:45 am]
BILLING CODE 8011-01-P