Notice2022-17980
Submission for OMB Review; 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
August 22, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 161 (Monday, August 22, 2022)</title>
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[Federal Register Volume 87, Number 161 (Monday, August 22, 2022)]
[Notices]
[Page 51470]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-17980]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-306, OMB Control No. 3235-0522]
Submission for OMB Review; 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'') has submitted to the Office of Management
and Budget this request for extension of the previously approved
collection of information discussed below.
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. Information provided under Rule 701 is
mandatory. 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 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).
An agency may 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 background documentation for this information
collection at the following website: <a href="http://www.reginfo.gov">www.reginfo.gov</a>. Find this
particular information collection by selecting ``Currently under 30-day
Review--Open for Public Comments'' or by using the search function.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
by September 21, 2022 to (i) <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a> and (ii)
David Bottom, Director/Chief Information Officer, Securities and
Exchange Commission, c/o John Pezzullo, 100 F Street NE, Washington, DC
20549, or by sending an email to: <a href="/cdn-cgi/l/email-protection#a6f6f4e7f9ebc7cfcac4c9dee6d5c3c588c1c9d0"><span class="__cf_email__" data-cfemail="abfbf9eaf4e6cac2c7c9c4d3ebd8cec885ccc4dd">[email protected]</span></a>.
Dated: August 16, 2022.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2022-17980 Filed 8-19-22; 8:45 am]
BILLING CODE 8011-01-P
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