Notice2024-20201
Proposed Collection; Comment Request; Extension: Form 1-E, Regulation E
Primary source
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Published
September 9, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 174 (Monday, September 9, 2024)</title>
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[Federal Register Volume 89, Number 174 (Monday, September 9, 2024)]
[Notices]
[Pages 73173-73174]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-20201]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-221, OMB Control No. 3235-0232]
Proposed Collection; Comment Request; Extension: Form 1-E,
Regulation E
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 (the ``Commission'') is soliciting comments on the
collection of information summarized below. The Commission plans to
submit this existing collection of information of the Office of
Management and Budget for extension and approval.
Form 1-E (17 CFR 239.200) under the Securities Act of 1933 (15
U.S.C. 77a et seq.) (``Securities Act'') is the form that a small
business investment company
[[Page 73174]]
(``SBIC'') or business development company (``BDC'') uses to notify the
Commission that it is claiming an exemption under Regulation E from
registering its securities under the Securities Act. Rule 605 of
Regulation E (17 CFR 230.605) under the Securities Act requires an SBIC
or BDC claiming such an exemption to file an offering circular with the
Commission that must also be provided to persons to whom an offer is
made. Form 1-E requires an issuer to provide the names and addresses of
the issuer, its affiliates, directors, officers, and counsel; a
description of events which would make the exemption unavailable; the
jurisdictions in which the issuer intends to offer the securities;
information about unregistered securities issued or sold by the issuer
within one year before filing the notification on Form 1-E; information
as to whether the issuer is presently offering or contemplating
offering any other securities; and exhibits, including copies of the
rule 605 offering circular and any underwriting contracts.
The Commission uses the information provided in the notification on
Form 1-E and the offering circular to determine whether an offering
qualifies for the exemption under Regulation E. The Commission
estimates that, each year, one issuer files one notification on Form 1-
E, together with offering circulars, with the Commission.\1\ Based on
the Commission's experience with disclosure documents, we estimate that
the burden from compliance with Form 1-E and the offering circular
requires approximately 100 hours per filing. The annual burden hours
for compliance with Form 1-E and the offering circular would be 200
hours (2 responses x 100 hours per response). Estimates of the burden
hours are made solely for the purposes of the PRA, and are not derived
from a comprehensive or even a representative survey or study of the
costs of SEC rules and forms.
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\1\ According to Commission records, one issuer filed two
notifications on Form 1-E, together with offering circulars, during
2013 and 2014.
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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
estimate of the burden of the 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 November 8, 2024.
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: Austin Gerig, Director/
Chief Data Officer, Securities and Exchange Commission, c/o Oluwaseun
Ajayi, 100 F Street NE, Washington, DC 20549 or send an email to:
<a href="/cdn-cgi/l/email-protection#0e5e5c4f51436f67626c61764e7d6b6d20696178"><span class="__cf_email__" data-cfemail="4a1a180b15072b23262825320a392f29642d253c">[email protected]</span></a>.
Dated: September 3, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-20201 Filed 9-6-24; 8:45 am]
BILLING CODE 8011-01-P
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