Notice2021-22136
Proposed Collection; Comment Request
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
October 12, 2021
Issuing agencies
Securities and Exchange Commission
Full Text
<html>
<head>
<title>Federal Register, Volume 86 Issue 194 (Tuesday, October 12, 2021)</title>
</head>
<body><pre>
[Federal Register Volume 86, Number 194 (Tuesday, October 12, 2021)]
[Notices]
[Pages 56745-56746]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-22136]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[SEC File No. CF 270-291, OMB Control No. 3235-0328]
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
Extension:
Form ID
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.) (the ``Paperwork Reduction Act''),
the Securities and Exchange Commission (``Commission'') is soliciting
comments on the collection of information summarized below. The
Commission plans to submit this existing collection of information to
the Office of Management and Budget for extension and revisions.
Form ID (OMB Control No. 3235-0328) must be completed and filed
with the Commission by all individuals, companies, and other
organizations who seek access to file electronically on the
Commission's Electronic Data Gathering, Analysis, and Retrieval system
(``EDGAR''). Those seeking access to file on EDGAR typically include
those who are required to make certain disclosures pursuant to the
federal securities laws. The information provided on Form ID is an
essential part of the security of EDGAR. Form ID is not a public
document because it is used solely for the purpose of screening
applicants and granting access to EDGAR. Form ID must be submitted
whenever an applicant seeks an EDGAR identification number (Central
Index Key or CIK) and/or access codes to file on EDGAR. The Commission
may consider potential technical changes to the EDGAR filer access and
filer account management processes (``potential access changes'') that
include the addition of individual user account credentials as well as
a filer management tool on EDGAR through which filers would manage
their EDGAR accounts. If the potential access changes are implemented,
the Commission anticipates that it would adopt amendments to certain
Commission rules and forms to reflect the potential access changes,
including Form ID. The potential access changes would include a filer
designating on Form ID which of its users would act as filer
administrator(s) to manage the filer's EDGAR account, analogous to the
contact person listed on Form ID who currently receives access codes.
The potential access changes would also include additional data fields
on Form ID related to authorized individuals.\1\
---------------------------------------------------------------------------
\1\ An ``authorized individual'' for purposes of Form ID
notarization process includes, for example, the Chief Executive
Officer, Chief Financial Officer, partner, corporate secretary,
officer, director, or treasurer of a company filer; or for
individual filers, the individual filer or a person with a power of
attorney from the individual filer. See EDGAR Filer Manual, Volume
I, at Section 3.
---------------------------------------------------------------------------
Separately, the Commission may consider potential amendments to
Form ID that would result in a more uniform and secure process for
EDGAR access by requiring applicants that already have a CIK and no
longer have access to EDGAR to apply for access by submitting a new
Form ID, rather than by submitting a manual passphrase update request,
as they do currently.\2\ As part of their Form ID application, such
applicants would continue to provide additional documentation as
currently required by the EDGAR Filer Manual for manual passphrase
update requests.\3\
---------------------------------------------------------------------------
\2\ The manual passphrase update request is submitted by filers
who do not possess access codes for their existing EDGAR accounts
when the contact email address on their existing account is not
accurate. (If the contact email address were accurate, they would be
able to receive a security token to allow them to regain access
without engaging in the manual passphrase update request process.)
\3\ See EDGAR Filer Manual, Volume I, at Section 4. See also
Adoption of Updated EDGAR Filer Manual, Release No. 33-10948 (Jun.
21, 2021) [86 FR 40308 (Jul. 28, 2021)].
---------------------------------------------------------------------------
For purposes of the Paperwork Reduction Act, we currently estimate
that there are 48,493 Form ID filings annually and that it takes
approximately 0.15 hours per response to prepare for a total of 7,274
annual burden hours. The current burden includes the number of Form ID
filings for filers without CIKs (48,089 filings) and filers with CIKs
who have not filed
[[Page 56746]]
electronically on EDGAR (404 filings).\4\ Filers are responsible for
100% of the total burden hours.
---------------------------------------------------------------------------
\4\ 48,089 filings for users without CIKs + 404 filings for
filers with CIKs who have not yet filed electronically on EDGAR =
48,493 filings.
---------------------------------------------------------------------------
If the potential access changes and potential Form ID amendments
become effective, for purposes of the Paperwork Reduction Act, we
estimate that the number of Form ID filings would increase
approximately by 7,284 annually \5\ and that the number of hours to
prepare Form ID would increase by 0.15 hours. The current approved
estimate of the annual number of Form ID filings for filers without
CIKs (48,089 filings) and filers with CIKs who have not filed
electronically on EDGAR (404 filings) would stay the same.
---------------------------------------------------------------------------
\5\ We base this estimate on the average annual number of
filings from filers with CIKs who submitted manual passphrase update
requests for the past three federal fiscal years. ((7,004 filings
per year + 6,871 filings per year + 7,978 filings per year)/3 years)
= average of 7,284 filings per year.
---------------------------------------------------------------------------
Thus, for purposes of the Paperwork Reduction Act, the estimated
total number of annual Form ID filings would increase from 48,493
filings to 55,777 filings.\6\ The estimate of 0.15 hours per response
would increase to 0.30 hours per response. The estimated total annual
burden would increase from 7,274 hours to 16,734 hours.\7\ The estimate
includes the number of filers without CIKs, filers with CIKs who have
not filed electronically on EDGAR, and filers with CIKs who are seeking
to reaccess EDGAR. The estimate that the filers are responsible for
100% of the total burden hours would stay the same.
---------------------------------------------------------------------------
\6\ 48,493 filings + 7,284 filings = 55,777 filings.
\7\ 55,777 filings x 0.30 hours/filing = 16,734 hours (rounded
up).
---------------------------------------------------------------------------
In relation to the potential access changes described above, the
Commission may consider amending Form ID to make technical
modifications and clarifications. We do not believe that these
technical modifications and clarifications to Form ID would make any
substantive modifications to any existing collection of information
requirements or impose any new substantive recordkeeping or information
collection requirements within the meaning of the Paperwork Reduction
Act.
The estimate of average burden hours is made solely for the
purposes of the Paperwork Reduction Act. The estimate is not derived
from a comprehensive or representative survey or study of the costs of
Commission rules. Complying with this collection of information
requirement is necessary to obtain the benefit of relying on Form ID.
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 control number.
Written comments are invited on: (i) Whether this proposed
collection of information is necessary for the proper performance of
the functions of the agency, including whether the information will
have practical utility; (ii) the accuracy of the agency's estimate of
the burden imposed by the collection of information; (iii) ways to
enhance the quality, utility, and clarity of the information collected;
and (iv) ways to minimize the burden of the collection of information
on respondents, including through the use of automated collection
techniques or other forms of information technology. Consideration will
be given to comments and suggestions submitted in writing within 60
days of this publication.
Please direct your written comments to David Bottom, Director/Chief
Information Officer, Securities and Exchange Commission, c/o Cynthia
Roscoe, 100 F Street NE, Washington, DC 20549 or send an email to:
<a href="/cdn-cgi/l/email-protection#b3e3e1f2ecfed2dadfd1dccbf3c0d6d09dd4dcc5"><span class="__cf_email__" data-cfemail="95c5c7d4cad8f4fcf9f7faedd5e6f0f6bbf2fae3">[email protected]</span></a>.
Dated: October 6, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-22136 Filed 10-8-21; 8:45 am]
BILLING CODE 8011-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on October 12, 2021.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.