Search:
Agenda
Reg Review
ICR
Display additional information by clicking on the following:
All
Brief and OIRA conclusion
Abstract/Justification
Legal Statutes
Rulemaking
FR Notices/Comments
IC List
Burden
Misc.
Common Form Info.
Certification
View Information Collection (IC) List
View Supporting Statement and Other Documents
Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3235-0582
ICR Reference No:
201111-3235-010
Status:
Active
Previous ICR Reference No:
200808-3235-012
Agency/Subagency:
SEC
Agency Tracking No:
IM-270-524
Title:
Form N-PX under the Investment Company Act of 1940, Annual Report of Proxy Voting Record
Type of Information Collection:
Extension without change of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
01/31/2012
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/05/2011
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
01/31/2015
36 Months From Approved
03/31/2012
Responses
10,000
10,000
9,400
Time Burden (Hours)
45,300
45,300
89,824
Cost Burden (Dollars)
6,200,000
6,200,000
0
Abstract:
Registered management investment companies use Form N-PX to file annual reports with the Commission containing their complete proxy voting record for the most recent twelve-month period ended June 30.
Authorizing Statute(s):
US Code: 15 USC 80a-29 Name of Law: Investment Company Act of 1940
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
76 FR 60565
09/29/2011
30-day Notice:
Federal Register Citation:
Citation Date:
76 FR 75922
12/05/2011
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Form N-PX under the Investment Company Act of 1940, Annual Report of Proxy Voting Record
SEC-2451
Form N-PX
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
10,000
9,400
0
0
600
0
Annual Time Burden (Hours)
45,300
89,824
0
0
-44,524
0
Annual Cost Burden (Dollars)
6,200,000
0
0
0
6,200,000
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
Previously, the Commission had estimated an annual total time burden of approximately 89,824 hours for Form N PX. This number was based on a yearly estimate of approximately 6,200 portfolios holding equity securities and 3,200 portfolios holding no equity securities with an estimated burden of 14.4 hours per response for portfolios holding equity securities and 0.17 hours per response for portfolios holding no equity securities. In addition, the Commission previously estimated no external cost burden for Form N-PX. The Commission estimates a net decrease of 44,524 burden hours per year for Form N-PX from the previous submission (89,824 hours (under previous estimate) – 45,300 hours (under current estimate) = 44,524 hours). The change in the estimated time burden is due to (1) the reduction in estimated hour burden of Form N-PX for Fund portfolios holding equity securities from 14.4 hours to 7.2 hours, and (2) the increase in the number of portfolios holding no equity securities from 3,200 to 3,800. The Commission also estimates a net increase of $6,200,000 in external costs per year for Form N-PX from the previous submission. The change in the estimated cost burden is due to the Commission's revised estimate that portfolios holding equity securities will incur approximately $1,000 per portfolio in payments to third party service providers to assist with proxy voting and preparing reports on Form N-PX.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [PPACA, P.L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Act [Dodd-Frank Wall Street Reform and Consumer Protection Act, P.L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Agency Contact:
Michael Kosoff 202 551-6754 kosoffm@sec.gov
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
12/05/2011
About Us
Related Resources
Disclosure
Accessibility
Privacy Policy
Contact Us
