Notice2026-04149
Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Rule 104
Primary source
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Published
March 3, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 91 Issue 41 (Tuesday, March 3, 2026)</title>
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[Federal Register Volume 91, Number 41 (Tuesday, March 3, 2026)]
[Notices]
[Page 10425]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-04149]
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SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0465]
Agency Information Collection Activities; Proposed Collection;
Comment Request; Extension: Rule 104
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. Sec. 3501 et seq.), the Securities and Exchange
Commission (SEC or ``Commission'') is soliciting comments on the
proposed collection of information in Rule 104 of Regulation M (17 CFR
242.104), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et
seq.).
Rule 104--Stabilizing and Other Activities in Connection with an
Offering--permits stabilizing by a distribution participant during a
distribution so long as the distribution participant discloses
information to the market and investors. This rule requires disclosure
in offering materials of the potential stabilizing transactions and
that the distribution participant inform the market when a stabilizing
bid is made. It also requires the distribution participants (i.e., the
syndicate manager) to maintain information regarding syndicate covering
transactions and penalty bids and disclose such information to the
Self-Regulatory Organization (SRO).
There are approximately 634 respondents per year that require an
aggregate total of approximately 127 hours per year to comply with this
rule. Each respondent makes an estimated 1 annual response. Each
response takes approximately 0.20 hours (12 minutes) to complete. Thus,
the total hour burden per year is approximately 127 hours. The total
estimated internal labor cost of compliance for the respondents is
approximately $20,828 per year, resulting in an estimated internal cost
of compliance for each respondent per response of approximately $32.85
(i.e., $20,828/634 respondents).
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 SEC, including whether the information will have
practical utility; (b) the accuracy of the SEC's estimate of the burden
imposed by the proposed collection of information, including the
validity of the methodology and the assumptions used; (c) ways to
enhance the quality, utility, and clarity of the information to be
collected; and (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated,
electronic 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#722213021700051d00192017160711061b1d1c331106320117115c151d04"><span class="__cf_email__" data-cfemail="7b2b1a0b1e090c140910291e1f0e180f1214153a180f3b081e18551c140d">[email protected]</span></a> by May 4, 2026. There will be a second
opportunity to comment on this SEC request following the Federal
Register publishing a 30-Day Submission Notice.
Dated: February 26, 2026.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-04149 Filed 3-2-26; 8:45 am]
BILLING CODE 8011-01-P
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