The Securities and Exchange Commission (SEC) has issued a notice under the Paperwork Reduction Act of 1995, requesting an extension for the collection of information related to Rule 17a-8. This rule involves mergers of affiliated investment companies and requires specific procedures such as board approvals and evaluations for assets when merging with an unregistered entity. The average annual burden is estimated at 7 hours per fund, with a total annual cost for all funds estimated at $3,151,248. The public can submit comments on the usefulness and burden of this information collection until March 31, 2025.
Simple Explanation
The government is checking if they still need a rule that helps school clubs (funds) merge with clubs not part of their group, and they want to make sure this isn't too hard or expensive for the clubs. They're asking people to say if they think the rule is good or bad before the end of March 2025.