Search Results for keywords:"compliance cost"

Found 7 results

Search Results: keywords:"compliance cost"

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  • 2025-03226 — Submission for OMB Review; Comment Request; Extension: Rule 17f-4
    Type:Notice
    Citation:90 FR 10960
    Reading Time:about 6 minutes

    The Securities and Exchange Commission (SEC) is asking for an extension of the approval for collecting certain information under Rule 17f-4, which is part of the Investment Company Act. This rule involves how investment funds and their custodians manage their securities using systems known as securities depositories. The SEC estimates the ongoing efforts of 639 entities, including funds and custodians, result in a total annual burden of 3,148 hours. The Commission is seeking public comments on this information collection, such as its necessity and ways to improve it, before the submission deadline on March 31, 2025.

    Simple Explanation

    The SEC is asking people to say what they think about a rule that talks about how investment companies keep track of their money using special systems, like big safes for money. They want to make sure these companies are doing it right, and they're counting on people's opinions to help them decide!

  • 2021-00144 — Proposed Collection; Comment Request, Upon Written Request Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549-2736
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    Type:Notice
    Citation:86 FR 1550
    Reading Time:about 6 minutes

    The Securities and Exchange Commission (SEC) is proposing to extend the current collection of information under the Paperwork Reduction Act of 1995 related to investment companies. According to rule 0-1 of the Investment Company Act of 1940, which was amended in 2001, funds relying on specific exemptions must have independent legal counsel whose independence is verified by the fund's independent directors. The SEC estimates that around 1,010 funds need to spend approximately 0.75 hours annually to meet these requirements, with an overall compliance cost of about $175,523. The SEC invites public comments on whether this information collection is necessary and how it can be improved or made less burdensome.

    Simple Explanation

    The SEC wants to make sure that some special money groups, called funds, have honest lawyers who are checked by their bosses. They're thinking about what this checking might cost and if there's a better way to do it, so they're asking people to give ideas.

  • 2024-28124 — Submission for OMB Review; Comment Request; Extension: Rule 17f-1(b)
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    Type:Notice
    Citation:89 FR 95300
    Reading Time:about a minute or two

    The Securities and Exchange Commission (SEC) has requested approval from the Office of Management and Budget (OMB) to continue collecting information under Rule 17f-1(b) of the Securities Exchange Act of 1934. This rule involves the Lost and Stolen Securities Program, which requires approximately 9,500 entities to register and report securities issues like missing, lost, or stolen documents. The SEC estimates that four new entities will join the program each year, each taking about half an hour to comply, costing around $172 per entity annually. The public can comment on this information collection request from December 3, 2024, to January 2, 2025, through the provided online platform or email.

    Simple Explanation

    The SEC wants permission to keep asking some companies to tell them if any important papers—like security documents—go missing, and you can tell them what you think about this plan!

  • 2021-01663 — Submission for OMB Review; Comment Request
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    Type:Notice
    Citation:86 FR 7158
    Reading Time:about 4 minutes

    The Securities and Exchange Commission (SEC) has requested approval from the Office of Management and Budget to extend the existing information collection under Rule 12d2-2 and Form 25. This rule and form handle the procedures and conditions under which a security can be delisted from an exchange. The SEC estimates a total annual burden of 940 hours for the exchanges and issuers that need to comply with this rule. This collection is mandatory, with public access to responses, and allows for public comments by visiting a designated website or contacting the SEC directly.

    Simple Explanation

    The Securities and Exchange Commission (SEC) wants to keep checking how companies say goodbye to a group they belong to on the stock market; they think they need about 940 hours of work each year to do this. They’re asking people to say what they think about these rules, so everyone can share ideas and concerns.

  • 2021-01245 — Proposed Collection; Comment Request
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    Type:Notice
    Citation:86 FR 6403
    Reading Time:about 4 minutes

    The Securities and Exchange Commission (SEC) is inviting public comments on the continued collection of information for Rule 12f-1 under the Securities Exchange Act of 1934. This rule requires exchanges to provide information when applying to reinstate unlisted trading privileges (UTP) in a security whose UTP had been suspended. The SEC estimates that it takes about one hour to complete each application, with a total cost of $221 per response, resulting in an annual compliance cost of approximately $5,304 for all respondents. The SEC is seeking feedback on the necessity, accuracy, and efficiency of this information collection process, and comments must be submitted within 60 days of publication.

    Simple Explanation

    The SEC wants to hear from people about how helpful and accurate a rule is that asks stock exchanges to give certain information when they want to start trading a stock again after a break. They think it only takes an hour and costs $221 each time, but they're asking if this is really true and how they can do it better.

  • 2021-03567 — Airworthiness Directives; The Boeing Company Airplanes
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    Type:Rule
    Citation:86 FR 10790
    Reading Time:about 21 minutes

    The Federal Aviation Administration (FAA) issued a new rule to replace an older directive for Boeing 787 airplanes to fix a potential safety issue. This new rule requires changes to maintenance programs and specific parts on the planes to ensure the engine fire handle works correctly and prevent potential fire hazards. The rule mandates these changes be made by a certain date and prohibits the installation of certain older parts. The FAA took public comments into account before finalizing the rule, which aims to enhance aviation safety without imposing significant economic impacts.

    Simple Explanation

    The FAA is telling the people who fly Boeing 787 airplanes that they need to check and fix something that might cause a fire to keep everyone safe. They also said these changes shouldn't cost too much money and asked for people’s opinions before making the rule.

  • 2025-02525 — Airworthiness Directives; ATR-GIE Avions de Transport Régional Airplanes
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    Type:Proposed Rule
    Citation:90 FR 9529
    Reading Time:about 17 minutes

    The Federal Aviation Administration (FAA) is proposing a new airworthiness directive (AD) that would replace an existing directive for certain ATR airplanes. This new directive would incorporate stricter safety requirements based on updated European standards. The aim is to prevent potential safety issues related to the airplane's structural integrity. Feedback or comments on this proposed rule are encouraged by March 31, 2025.

    Simple Explanation

    The FAA is proposing new safety rules for certain ATR airplanes to make sure they are as safe as possible by following stricter European guidelines. They want people to give their thoughts on these new rules by March 31, 2025.