Notice2022-12947
Proposed Collection; Comment Request: Extension; Rule 701
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
June 16, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 116 (Thursday, June 16, 2022)</title>
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[Federal Register Volume 87, Number 116 (Thursday, June 16, 2022)]
[Notices]
[Pages 36355-36356]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-12947]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-306, OMB Control No. 3235-0522]
Proposed Collection; Comment Request: Extension; Rule 701
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 (``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 approval.
Rule 701(17 CFR 230.701) under the Securities Act of 1933
(``Securities Act'') (15 U.S.C. 77a et seq.) provides an exemption for
certain issuers from the registration requirements of the Securities
Act for limited offerings and sales of securities issued under
compensatory benefit plans or contracts. The purpose of Rule 701 is to
ensure that a basic level of information is available to employees and
others when substantial amounts of securities are issued in
compensatory arrangements. We estimate that approximately 800 companies
annually rely on the Rule 701 exemption and that it takes 2 hours to
prepare each response. We estimate
[[Page 36356]]
that 25% of the 2 hours per response (0.5 hours) is prepared by the
company for a total annual reporting burden of 400 hours (0.5 hours per
response x 800 responses).
Written comments are invited on: (a) 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; (b) the accuracy of the agency's estimate of
the burden imposed by the collection of information; (c) ways to
enhance the quality, utility, and clarity of the information collected;
and (d) 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 by August 15, 2022.
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.
Please direct your written comment to David Bottom, Director/Chief
Information Officer, Securities and Exchange Commission, c/o John
Pezzullo, 100 F Street NE, Washington, DC 20549 or send an email to:
<a href="/cdn-cgi/l/email-protection#de8e8c9f8193bfb7b2bcb1a69eadbbbdf0b9b1a8"><span class="__cf_email__" data-cfemail="27777566786a464e4b45485f6754424409404851">[email protected]</span></a>.
Dated: June 10, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-12947 Filed 6-15-22; 8:45 am]
BILLING CODE 8011-01-P
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