Federal Register #3235-0648

SEC Request for Comments on Extending the Rule 498 Information Collection

The Securities and Exchange Commission (SEC) is seeking public comments on extending its Rule 498 information collection. - Government buyer: Securities and Exchange Commission (SEC); no sub-agency or office is identified. - Opportunity type: Public comment notice on an existing information collection, not a procurement solicitation. - Rule 498: Allows open-end management investment companies to satisfy prospectus delivery obligations by providing a Summary Prospectus and making specified documents available online; funds must provide the statutory prospectus when an investor requests it. - Estimated impact: Approximately 11,699 funds use a Summary Prospectus, with an estimated annual burden of 17,549 hours and annual cost burden of approximately $273,522,620. - Comments sought: Feedback on the collection’s necessity and utility, burden estimates and methodology, ways to improve the information collected, and ways to reduce respondent burden. - OEMs, vendors, products, and services: None identified or requested.

Description

The Securities and Exchange Commission is seeking comments on an existing information collection under Rule 498 and plans to submit it to the Office of Management and Budget for extension and approval. Rule 498 allows open-end management investment companies to meet prospectus delivery obligations by providing investors with a summary prospectus and making required documents available on a website. The notice estimates approximately 11,699 funds use a Summary Prospectus, with a total annual burden of about 17,549 hours and a total annual cost burden of approximately $273,522,620. Written comments are due by December 1, 2026.

View original listing