Notice2023-07224
Submission for OMB Review; Comment Request; Extension: Rule 104
Primary source
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Published
April 6, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 66 (Thursday, April 6, 2023)</title>
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[Federal Register Volume 88, Number 66 (Thursday, April 6, 2023)]
[Notices]
[Page 20587]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-07224]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-411, OMB Control No. 3235-0465]
Submission for OMB Review; 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'') has submitted to the Office of Management
and Budget (``OMB'') a request for approval of extension of the
previously approved 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.).
Rule 104 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 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. 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 internal labor cost of compliance
for the respondents is approximately $19,618.20 per year, resulting in
an internal cost of compliance per respondent of approximately $16.20
(i.e., $19,618.20/1,211 respondents).
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.
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 by May 8, 2023 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#3e6e6c7f61735f57525c51467e4d5b5d10595148"><span class="__cf_email__" data-cfemail="154547544a58747c79777a6d556670763b727a63">[email protected]</span></a>.
Dated: April 3, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-07224 Filed 4-5-23; 8:45 am]
BILLING CODE 8011-01-P
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