Notice2024-28221
Submission for OMB Review; Comment Request; Extension: Form 1-E, Regulation E
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
December 2, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 231 (Monday, December 2, 2024)</title>
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[Federal Register Volume 89, Number 231 (Monday, December 2, 2024)]
[Notices]
[Pages 95338-95339]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-28221]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-221, OMB Control No. 3235-0232]
Submission for OMB Review; 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'') has submitted to the Office of
Management and Budget a request for extension of the previously
approved collection of information discussed below.
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 (``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 two notifications 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. According to Commission records, during 2015, 2016,
and 2017, one issuer filed seven notifications on Form 1-E, together
with offering circulars; no Form 1-E has been filed with the
Commission since 2017.
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Compliance with the information collection requirements of the
rules is necessary to obtain the benefit of relying on the rules. The
information provided on Form 1-E and in the offering circular will not
be kept confidential. An agency may not conduct or sponsor, and a
person is not required to respond to, a collection of information
unless it
[[Page 95339]]
displays a currently valid OMB control number.
The 30-day public comment period for this information collection
request opens on December 3, 2024 and closes on January 2, 2025. The
public may view the full information request and submit comments at
<a href="https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202408-3235-029">https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202408-3235-029</a> or
email comments to <a href="/cdn-cgi/l/email-protection#f9b4bba1d7b6b4bbd7b6b0abb8d7aabcbaa69d9c8a92a6969f9f909a9c8bb996949bd79c9689d79e968f"><span class="__cf_email__" data-cfemail="3479766c1a7b79761a7b7d66751a6771776b5051475f6b5b52525d575146745b59561a515b441a535b42">[email protected]</span></a>.
Dated: November 26, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-28221 Filed 11-29-24; 8:45 am]
BILLING CODE 8011-01-P
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