[Federal Register Volume 87, Number 176 (Tuesday, September 13, 2022)]
[Notices]
[Pages 56136-56137]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-19670]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-814, OMB Control No. 3235-0764]


Proposed Collection; Comment Request; Extension: Rule 6c-11

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.), 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 for extension and approval.
    Rule 6c-11 under the Investment Company Act of 1940 (the ``Act'') 
permits exchange-traded funds (``ETFs'') that satisfy certain 
conditions to operate without first obtaining an exemptive order from 
the Commission. The rule was designed to create a consistent, 
transparent, and efficient regulatory framework for ETFs and facilitate 
greater competition and innovation among ETFs. Rule 6c-11 requires an 
ETF to disclose certain information on its website, to maintain certain 
records, and to adopt and implement written policies and procedures 
governing its constructions of baskets, as well as written policies and 
procedures that set forth detailed parameters for the construction and 
acceptance of custom baskets that are in the best interests of the ETF 
and its shareholders.
    We estimate that the total hour burdens and time costs associated 
with rule 6c-11, including the burden associated with reviewing and 
updating website disclosures, recordkeeping, and reviewing and updating 
policies and procedures, will result in an average aggregate annual 
burden of 51,156 hours and an average aggregate time cost of 
$1,248,912.
    The requirements of this collection of information are mandatory. 
If information collected pursuant to rule 6c-11 is reviewed by the 
Commission's examination staff, it will be accorded the same level of 
confidentiality accorded to other responses provided to the Commission 
in the context of its examination and oversight program.
    Written comments are invited on: (a) whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall 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 by November 14, 2022.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.

[[Page 56137]]

    Please direct your written comments to: David Bottom, Director/
Chief Information Officer, Securities and Exchange Commission, c/o John 
Pezzullo, 100 F Street NE, Washington, DC 20549 or send an email to: 
[email protected] .

    Dated: September 7, 2022.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-19670 Filed 9-12-22; 8:45 am]
BILLING CODE 8011-01-P