Notice2021-27291
Submission for OMB Review; 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
December 17, 2021
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 86 Issue 240 (Friday, December 17, 2021)</title>
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[Federal Register Volume 86, Number 240 (Friday, December 17, 2021)]
[Notices]
[Pages 71682-71683]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-27291]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. EBO 270-291, OMB Control No. 3235-0328]
Submission for OMB Review; 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'') has submitted
to the Office of Management and Budget a request for extension and
revisions of the previously approved collection of information
discussed below.
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\
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\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.
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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, these
applicants would continue to provide additional documentation as
currently required by the EDGAR Filer Manual for manual passphrase
update requests.\3\
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\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)].
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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 electronically on EDGAR (404 filings).\4\ Filers are
responsible for 100% of the total burden hours.
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\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.
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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 8,836 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.
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\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. ((6,871 filings
per year + 7,978 filings per year + 11,659 filings per year)/3
years) = average of 8,836 filings per year.
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Thus, for purposes of the Paperwork Reduction Act, the estimated
total number of annual Form ID filings would increase from 48,493
filings to 57,329 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 17,199 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.
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\6\ 48,493 filings + 8,836 filings = 57,329 filings.
\7\ 57,329 filings x 0.30 hours/filing = 17,199 hours.
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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
[[Page 71683]]
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. Responses will not be kept
confidential. 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.
The public may view the background documentation for this
information collection at the following website, <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
Comments should be directed to: (i) Desk Officer for the Securities and
Exchange Commission, Office of Information and Regulatory Affairs,
Office of Management and Budget, Room 10102, New Executive Office
Building, Washington, DC 20503, or by sending an email to:
<a href="/cdn-cgi/l/email-protection#fead969f998b988a9fa1bf96939b9abe91939cd09b918ed0999188"><span class="__cf_email__" data-cfemail="da89b2bbbdafbcaebb859bb2b7bfbe9ab5b7b8f4bfb5aaf4bdb5ac">[email protected]</span></a>; and (ii) David Bottom, Director/Chief
Information Officer, Securities and Exchange Commission, c/o John R.
Pezzullo, 100 F Street NE, Washington, DC 20549, or by sending an email
to: <a href="/cdn-cgi/l/email-protection#8ededccfd1c3efe7e2ece1f6cefdebeda0e9e1f8"><span class="__cf_email__" data-cfemail="8fdfddced0c2eee6e3ede0f7cffceaeca1e8e0f9">[email protected]</span></a>. Comments must be submitted to OMB within 30
days of this notice.
Dated: December 13, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-27291 Filed 12-16-21; 8:45 am]
BILLING CODE 8011-01-P
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