Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Rule 0-2 Under the Investment Company Act of 1940, General Requirements of Papers and Applications

[Federal Register Volume 91, Number 106 (Wednesday, June 3, 2026)]

[Notices]

[Page 33251]

From the Federal Register Online via the Government Publishing Office [ www.gpo.gov ]

[FR Doc No: 2026-11132]

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SECURITIES AND EXCHANGE COMMISSION

[OMB Control No. 3235-0636]

Agency Information Collection Activities; Proposed Collection;

Comment Request; Extension: Rule 0-2 Under the Investment Company Act

of 1940, General Requirements of Papers and Applications

Upon Written Request, Copies Available From: Securities and Exchange

Commission, Office of FOIA Services, 100 F Street NE, Washington, DC

20549-2736

Notice is hereby given that, pursuant to the Paperwork Reduction

Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange

Commission (``SEC'' or ``Commission'') is soliciting comments on the

proposed collection of information.

Several sections of the Investment Company Act of 1940 (``Act'' or

``Investment Company Act'') \1\ give the Securities and Exchange

Commission (``Commission'') the authority to issue orders granting

exemptions from the Act's provisions. The section that grants broadest

authority is section 6(c), which provides the Commission with authority

to conditionally or unconditionally exempt persons, securities or

transactions from any provision of the Investment Company Act, or the

rules or regulations thereunder, if and to the extent that such

exemption is necessary or appropriate in the public interest and

consistent with the protection of investors and the purposes fairly

intended by the policy and provisions of the Act.\2\ Congress enacted

section 6(c) to give the Commission the flexibility to address

unforeseen or changed circumstances in the investment company industry.

Rule 0-2 under the Investment Company Act,\3\ entitled ``General

Requirements of Papers and Applications,'' prescribes general

instructions for filing an application seeking exemptive relief with

the Commission.

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\1\ 15 U.S.C. 80a-1 et seq.

\2\ 15 U.S.C. 80a-6(c).

\3\ 17 CFR 270.0-2.

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Rule 0-2(c)(1) requires that every application for an order for

which a form is not specifically prescribed and which is executed by a

corporation, partnership or other company and filed with the Commission

contain a statement of the applicable provisions of the articles of

incorporation, bylaws or similar documents, relating to the right of

the person signing and filing such application to take such action on

behalf of the applicant, and a statement that all such requirements

have been complied with and that the person signing and filing the

application is fully authorized to do so. If such authorization is

dependent on resolutions of stockholders, directors, or other bodies,

such resolutions must be attached as an exhibit to or quoted in the

application. Any amendment to the application must contain a similar

statement as to the applicability of the original statement of

authorization. When any application or amendment is signed by an agent

or attorney, rule 0-2(c)(1) requires that the power of attorney

evidencing his authority to sign shall state the basis for the agent's

authority and shall be filed with the Commission. Every application

subject to rule 0-2 must be verified by the person executing the

application by executing an instrument in substantially the form

specified in the rule. Each application subject to rule 0-2 must state

the reasons why the applicant is deemed to be entitled to the action

requested, the name and address of each applicant, and the name and

address of any person to whom any questions regarding the application

should be directed. Electronic filing of all applications for orders

under the Investment Company Act is mandatory. Each application subject

to rule 0-2 is a one-time request and the rule itself does not impose

any ongoing obligations or burdens on the part of an applicant.

Compliance with rule 0-2 is required to obtain or retain benefits.

We estimate that approximately 139 registrants use rule 0-2 to make

exemptive applications.\4\ Based on conversations with fund

representatives and the Commission's experience with the use of rule 0-

2, we estimate that the reporting burden of compliance with rule 0-2 is

approximately 20 hours per respondent. This time is spent, for example,

preparing the application to submit to the Commission. Accordingly, we

calculate the total estimated annual internal burden of complying with

rule 0-2 to be approximately 2,780 hours. We estimate the annual

external costs to be $10,341,600. An agency may not conduct or sponsor,

and a person is not required to respond to, a collection of information

unless it displays a currently valid OMB Control Number.

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\4\ This estimate is based on the annual average of the number

of total exemptive applications for the three year period ended

December 2025 (1,251 applications/3 = 417), of which approximately

\2/3\ are amendments (417 x (\2/3\) = 139 new exemptive

applications).

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Written comments are invited on: (a) whether this proposed

collection of information is necessary for the proper performance of

the functions of the SEC, including whether the information will have

practical utility; (b) the accuracy of the SEC's estimate of the burden

imposed by the proposed collection of information, including the

validity of the methodology and the assumptions used; (c) ways to

enhance the quality, utility, and clarity of the information to be

collected; and (d) ways to minimize the burden of the collection of the

information on respondents, including through the use of automated,

electronic collection techniques or other forms of information

technology.

Please direct your written comments on this 60-Day Collection

Notice to Austin Gerig, Director/Chief Data Officer, Securities and

Exchange Commission, c/o Tanya Ruttenberg via email to

[email protected] by August 3, 2026. There will be a second

opportunity to comment on this SEC request following the Federal

Register publishing a 30-Day Submission Notice.

Dated: June 1, 2026.

Sherry R. Haywood,

Assistant Secretary.

[FR Doc. 2026-11132 Filed 6-2-26; 8:45 am]

BILLING CODE 8011-01-P