Notice2023-02262
Proposed Collection; Comment Request; Extension: Rule 104
Primary source
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Published
February 3, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 23 (Friday, February 3, 2023)</title>
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[Federal Register Volume 88, Number 23 (Friday, February 3, 2023)]
[Notices]
[Pages 7486-7487]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-02262]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-411, OMB Control No. 3235-0465]
Proposed Collection; Comment Request; Extension: Rule 104
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 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') is soliciting comments on the existing
collection of information provided for in Rule 104 of Regulation M (17
CFR 242.104), under the Securities Exchange Act of 1934 (15 U.S.C. 78a
et seq.). The Commission plans to submit this existing collection of
information to the Office of Management and Budget (``OMB'') for
extension and approval.
Rule 104--Stabilizing and Other Activities in Connection with an
Offering--permits stabilizing by a distribution participant during a
distribution so long as the distribution participant discloses
information to the market and investors. This rule requires
[[Page 7487]]
disclosure in offering materials of the potential stabilizing
transactions and that the distribution participant inform the market
when a stabilizing bid is made. It also requires the distribution
participants (i.e., the syndicate manager) to maintain information
regarding syndicate covering transactions and penalty bids and disclose
such information to the Self-Regulatory Organization (SRO).
There are approximately 1,211 respondents per year that require an
aggregate total of approximately 242 hours per year to comply with this
rule. Each respondent makes an estimated 1 annual response. Each
response takes approximately 0.20 hours (12 minutes) to complete. Thus,
the total hour burden per year is approximately 242 hours. The total
estimated internal labor cost of compliance for the respondents is
approximately $19,618.20 per year, resulting in an estimated internal
cost of compliance for each respondent per response of approximately
$16.20 (i.e., $19,618.20/1,211 respondents).
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
estimates of the burden of the proposed 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
April 4, 2023.
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, 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#510103100e1c30383d333e29112234327f363e27"><span class="__cf_email__" data-cfemail="b8e8eaf9e7f5d9d1d4dad7c0f8cbdddb96dfd7ce">[email protected]</span></a>.
Dated: January 30, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-02262 Filed 2-2-23; 8:45 am]
BILLING CODE 8011-01-P
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