Notice2023-12095
Submission for OMB Review; Comment Request; Extension: Rule 147A(f)(1)(iii) Written Representation as to Purchaser Residency
Primary source
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Published
June 7, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 109 (Wednesday, June 7, 2023)</title>
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[Federal Register Volume 88, Number 109 (Wednesday, June 7, 2023)]
[Notices]
[Page 37298]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-12095]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-806 OMB Control No. 3235-0757]
Submission for OMB Review; Comment Request; Extension: Rule
147A(f)(1)(iii) Written Representation as to Purchaser Residency
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 147A(f)(1)(iii) (17 CFR 230.147A(f)(1)(iii)) requires the
issuer to obtain from the purchaser a written representation as to the
pruchase's residency in order to qualify for safe harbor under
Securities Act Rule 147A (17 CFR 230.147A). Rule 147A is an exemption
from registration under Securities Act Section 28 (15 U.S.C. 77z-3).
Under Rule 147A, the purchaser in the offering must be a resident of
the same state or territory in which the issuer is a resident. While
the formal representation of residency by itself is not sufficient to
establish a reasonable belief that such purchasers are in-state
residents, the representation requirement, together with the reasonable
belief standard, may result in better compliance with the rule and
maintaining appropriate investor protections. The representation of
residency is not provided to the Commission. Approximately 700
respondents provide the information required by Rule 147A(f)(1)(iii) at
an estimated 2.75 hours per response for a total annual reporting
burden of 1,925 hours (2.75 hours x 700 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 July 7, 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#aefefceff1e3cfc7c2ccc1d6eeddcbcd80c9c1d8"><span class="__cf_email__" data-cfemail="89d9dbc8d6c4e8e0e5ebe6f1c9faeceaa7eee6ff">[email protected]</span></a>.
Dated: June 1, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-12095 Filed 6-6-23; 8:45 am]
BILLING CODE 8011-01-P
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