Notice2025-12496
Proposed Collection; Comment Request; Revision: Rule 14f-1-Change in Majority of Directors
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
July 3, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 126 (Thursday, July 3, 2025)</title>
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[Federal Register Volume 90, Number 126 (Thursday, July 3, 2025)]
[Notices]
[Page 29596]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-12496]
[[Page 29596]]
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SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0108]
Proposed Collection; Comment Request; Revision: Rule 14f-1--
Change in Majority of Directors
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.) (``PRA''), the Securities and
Exchange Commission (``Commission'') is soliciting comments on the
collection of information summarized below. The Commission plans to
submit this existing collection of information to the Office of
Management and Budget (``OMB'') for a revision with extension and
approval. The Commission plans to request approval from OMB to
designate this existing collection of information (OMB Control No.
3235-0108) as a ``common form'' for purposes of PRA submissions \1\
because the Board of Governors of the Federal Reserve System uses this
information collection (under OMB Control No. 7100-0091).
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\1\ See ROCIS PRA Module User Guide v. 8.2, at 110-111 (Mar.
2024), available at <a href="https://www.rocis.gov/rocis/viewResources.do">https://www.rocis.gov/rocis/viewResources.do</a>
(``A `common form' is an information collection that can be used by
two or more agencies, or government-wide, for the same purpose. The
Common Forms Module [in ROCIS] allows a `host' agency to obtain
[OMB] approval of an information collection for use by one or more
`using' agencies. After OMB grants approval, any prospective using
agency that seeks to collect identical information for the same
purpose can obtain approval to use the `common form' by providing
its agency-specific information to OMB (e.g., burden estimates and
number of respondents). The host agency will indicate in the Federal
Register notices that it is requesting approval of a common form
and, if known, identify other agencies that may use the information
collection. Both the Federal Register notices and the ICR should
account only for the burden imposed by the host agency's use of the
common form. Once the host agency has received approval from OMB,
any agency will be able to request OMB approval for its use of the
common form in ROCIS by providing its agency specific information to
OMB (e.g., burden estimates and number of respondents). Additional
public notice by those agencies will not be required.'').
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Under Securities Exchange Act of 1934 (``Exchange Act'') Rule 14f-1
(17 CFR 240.14f-1), if, pursuant to any arrangement or understanding
with a person or persons acquiring securities of an issuer in a
transaction subject to Section 13(d) or 14(d) of the Exchange Act,
persons constituting a majority of the issuer's directors are to be
elected or designated as issuer directors, otherwise than at a meeting
of security holders, then, not less than 10 days prior to the date any
such person takes office as a director, or such shorter period as the
Commission may authorize, the issuer must file with the Commission and
transmit to all holders of record of securities of the issuer
information, primarily concerning prospective new directors of the
issuer, required by Rule 14f-1. We estimate that it takes approximately
18 burden hours to provide the information required under Rule 14f-1
and that the information is filed by approximately 21 respondents
annually for a total annual reporting burden of 378 hours (18 hours per
response x 21 responses).
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid OMB control number.
Written comments are invited on: (a) whether this proposed
collection of information is necessary for the proper performance of
the functions of the agency, including whether the information will
have practical utility; (b) the accuracy of the agency's estimate of
the burden imposed by 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.
Please direct your written comments on this 60-Day Collection
Notice to Austin Gerig, Director/Chief Data Officer, Securities and
Exchange Commission, c/o Tanya Ruttenberg via email to
<a href="/cdn-cgi/l/email-protection#9cccfdecf9eeebf3eef7cef9f8e9ffe8f5f3f2ddffe8dceff9ffb2fbf3ea"><span class="__cf_email__" data-cfemail="623203120710150d10093007061701160b0d0c230116221107014c050d14">[email protected]</span></a> by September 2, 2025. There will be a
second opportunity to comment on this SEC request following the Federal
Register publishing a 30-Day Submission Notice.
Dated: July 1, 2025.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-12496 Filed 7-2-25; 8:45 am]
BILLING CODE 8011-01-P
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