Notice2022-13809
Proposed Collection; Comment Request; Extension: Rule 607
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 29, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 124 (Wednesday, June 29, 2022)</title>
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[Federal Register Volume 87, Number 124 (Wednesday, June 29, 2022)]
[Notices]
[Page 38794]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-13809]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-561, OMB Control No. 3235-0747]
Proposed Collection; Comment Request; Extension: Rule 607
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 (the ``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.
Regulation E (17 CFR 230.601 to 230.610a) exempts from registration
under the Securities Act of 1933 (15 U.S.C. 77a et seq.) (``Securities
Act'') securities issued by a small business investment company
(``SBIC'') which is registered under the Investment Company Act of 1940
(15 U.S.C. 80a-1 et seq.) (``Investment Company Act'') or a closed-end
investment company that has elected to be regulated as a business
development company (``BDC'') under the Investment Company Act, so long
as the aggregate offering price of all securities of the issuer that
may be sold within a 12-month period does not exceed $5,000,000 and
certain other conditions are met. Rule 607 under Regulation E (17 CFR
230.607) entitled, ``Sales material to be filed,'' requires sales
material used in connection with securities offerings under Regulation
E to be filed with the Commission at least five days (excluding
weekends and holidays) prior to its use.\1\ Commission staff reviews
sales material filed under rule 607 for materially misleading
statements and omissions. The requirements of rule 607 are designed to
protect investors from the use of false or misleading sales material in
connection with Regulation E offerings.
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\1\ Sales material includes advertisements, articles or other
communications to be published in newspapers, magazines, or other
periodicals; radio and television scripts; and letters, circulars or
other written communications proposed to be sent given or otherwise
communicated to more than ten persons.
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Respondents to this collection of information include SBICs and
BDCs making an offering of securities pursuant to Regulation E. No
filings were submitted to the Commission under rule 607 in 2019, 2020,
or 2021. Accordingly, we estimate no annual responses. Each
respondent's reporting burden under rule 607 relates to the internal
burden associated with filing its sales material electronically, which
is negligible. For administrative purposes, we estimate an annual
burden of one hour. The estimate of average burden hours is made solely
for purposes of the Paperwork Reduction Act and is not derived from a
quantitative, comprehensive, or even representative survey or study of
the burdens associated with Commission rules and forms.
The requirements of this collection of information are mandatory.
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.
Written comments are invited on: (a) whether the proposed
collection of information is necessary for the proper performance of
the functions of the Commission, including whether the information
shall have practical utility; (b) the accuracy of the Commission's
estimate of the burden of 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 by August 29, 2022.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information under the PRA unless it
displays a currently valid OMB control number.
Please direct your written comments to: David Bottom, Acting
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#bfefedfee0f2ded6d3ddd0c7ffccdadc91d8d0c9"><span class="__cf_email__" data-cfemail="6d3d3f2c32200c04010f02152d1e080e430a021b">[email protected]</span></a>.
Dated: June 23, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-13809 Filed 6-28-22; 8:45 am]
BILLING CODE 8011-01-P
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