Federal Register #OMB Control No. 3235-0222

SEC Seeks Comment on Extension of Rule 17f-1 Information Collection

This notice from the Securities and Exchange Commission (SEC) seeks public comment on the proposed extension of information collection requirements under Rule 17f-1, related to the custody of securities by members of national securities exchanges. - Government Buyer: - Securities and Exchange Commission (SEC) - Scope and Requirements: - Applies to registered management investment companies - Requires written contracts for custody of securities, ratified and approved by the fund's board - Mandates independent public accountants to examine fund assets at least twice annually - Estimated Impact: - Approximately four funds rely on Rule 17f-1 each year - Total annual internal hour burden: 14 hours - Total annual external cost burden: $52,392 - No OEMs, vendors, or specific products/services are being procured; this is a regulatory information collection notice, not a purchasing opportunity.

Description

The Securities and Exchange Commission (SEC) is proposing to extend the collection of information under Rule 17f-1, which relates to the custody of securities with members of national securities exchanges. The rule requires registered management investment companies to have written contracts ratified and approved by their boards, and independent public accountants to examine fund assets multiple times annually. The notice invites public comments on the extension of this information collection and outlines the estimated burden and costs associated with compliance.

View original listing