Notice2023-12096
Submission for OMB Review; Comment Request; Extension: Rule 147(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 37297]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-12096]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-805, OMB Control No. 3235-0756]
Submission for OMB Review; Comment Request; Extension: Rule
147(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 147 is a safe harbor under the Securities Act Section
3(a)(11)(15 U.S.C. 77c(a)(11)) exemption from registration. To qualify
for the safe harbor, Rule 147(f)(1)(iii) (17 CFR 230.147) will require
the issuer to obtain from the purchaser a written representation as to
the purchaser's residency. Under Rule 147, 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 147(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#d9898b988694b8b0b5bbb6a199aabcbaf7beb6af"><span class="__cf_email__" data-cfemail="f1a1a3b0aebc90989d939e89b1829492df969e87">[email protected]</span></a>.
Dated: June 1, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-12096 Filed 6-6-23; 8:45 am]
BILLING CODE 8011-01-P
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