[Federal Register Volume 61, Number 123 (Tuesday, June 25, 1996)]
[Notices]
[Pages 32861-32862]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-16168]



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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

    Upon Written Request, Copies Available From: Securities and 
Exchange Commission, Office of Filings and Information Services, 
Washington, DC 20549.
    Revision:

Form 8-A, SEC File No. 270-54, OMB Control No. 3235-0056
Form 10-K, SEC File No. 270-48, OMB Control No. 3235-0063
Form 10-Q, SEC File No. 270-49, OMB Control No. 3235-0070
Form 20-F, SEC File No. 270-156, OMB Control No. 3235-0288
Form 10-QSB, SEC File No. 270-369, OMB Control No. 3235-0416
Form 10-KSB, SEC File No. 270-368, OMB Control No. 3235-0420

    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 requests for approval of modifications to the following 
Forms:
    Form 8-A is a registration statement used by issuers that are 
already reporting under the Securities Exchange Act of 1934 (``Exchange 
Act'') to register a class of securities under the Exchange Act. This 
Form permits issuers to incorporate by reference documents that are 
already filed with the Commission. The Commission proposes to permit 
issuers to register concurrently a public offering under the Securities 
Act of 1933 and a class of securities under the Exchange Act by filing 
a single Securities Act form that would cover both registrations. This 
proposal would reduce the number of filings that are made on Form 8-A 
from 1,940 to 776, and would reduce the estimated total annual burden 
hours from 14,550 hours to 5,820 hours.
    Forms 10-K and 10-Q are filed by issuers to satisfy their annual 
and quarterly periodic reporting obligations, respectively, pursuant to 
Section 13 and Section 15(d) of the Exchange Act. ``Small business 
issuers,'' as defined by Exchange Act Rule 12b-2, are permitted to use 
Forms 10-KSB and 10-QSB to satisfy their annual and quarterly periodic 
reporting obligations, respectively, under Section 13 and Section 15(d) 
of the Exchange Act. In addition, ``foreign private issuers,'' as 
defined in Exchange Act Rule 3B-4(c), may file Form 20-F to satisfy 
their annual Exchange Act periodic reporting obligations. The 
information required to be disclosed in these Forms permits 
verification of compliance with securities law requirements, and 
assures the public availability and dissemination of material 
information concerning an issuer.
    The Commission proposed eliminating Form SR, which is filed by 
issuers to report the use of proceeds following an initial public 
offering, and requiring that the information currently required by that 
Form be included in the first periodic report filed by first-time 
public issuers under the Exchange Act. The use of proceeds information 
would be reported on Forms 10-K, 10-Q, 10-KSB, 10-QSB and, for foreign 
private issuers, on Form 20-F. The Commission's proposal would 
marginally increase the burden hours associated with filing such Forms. 
However, this increase is expected to result in the provision of 
important information regarding the use of proceeds and the progress of 
an offering within a filing that is more commonly monitored by 
investors.
    Each year, approximately 6,051 issuers file 6,051 Form 10-Ks, and 
approximately 6,282 issuers file 18,216 Form 10-Qs. As a result of the 
Commission's proposal, an estimated 490 issuers would be required to 
include the proposed use of proceeds disclosure in their Forms 10-K and 
10-Q. The average burden hours for the Forms 10-K and 10-Q that would 
contain the proposed disclosure item is expected to increase by 5.5 
hours for each Form submission. The total annual burden hours for Form 
10-K would increase from 10,416,318 hours to 10,419,013 hours, and the 
total annual burden hours for Form 10-Q would increase from 2,623,104 
hours to 2,631,189 hours.
    Approximately 545 foreign private issuers file 545 Form 20-Fs each 
year. An estimated 100 of these issuers are expected to include the 
proposed use of proceeds information in their Form 20-Fs, and the 
burden hours for such Form 20-Fs would increase by an average 5.5 hours 
per submission. The total annual

[[Page 32862]]

burden hours for Form 20-F would increase 550 hours as a result of the 
Commission's proposal.
    An estimated 3,031 small business issuers file 9,093 Form 10-QSBs 
each year. Approximately 265 such issuers are expected to include the 
proposed disclosure item in their Form 10-QSBs, and the burden hours 
for such Form 10-QSBs would increase by an average 5.5 hours per 
submission. The total annual burden hours for Form 10-QSB will increase 
from 1,191,183 hours to 1,195,555.5 hours.
    Approximately 2,790 small business issuers file Form 10-KSB each 
year, and approximately 265 of these issuers are expected to include 
the proposed use of proceeds information in their Form 10-KSBs. The 
burden hours for the affected Form 10-KSBs would increase by an average 
5.5 hours per submission. The total annual burden hours for Form 10-KSB 
will increase from 3,389,850 hours to 3,391,307.5 hours.
    General comments regarding the estimated burden hours should be 
directed to the Desk Officer for the Securities and Exchange Commission 
at the address below. Any comments concerning the accuracy of the 
estimated average burden hours for compliance with Commission rules and 
forms should be directed to Michael E. Bartell, Associate Executive 
Director, Office of Information Technology, Securities and Exchange 
Commission, 450 Fifth Street, N.W., Washington, D.C. 20549 and Desk 
Officer for the Securities and Exchange Commission, Office of 
Information and Regulatory Affairs, Office of Management and Budget, 
Room 3208, New Executive Office Building, Washington, D.C. 20503.

    Dated: June 18, 1996.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-16168 Filed 6-24-96; 8:45 am]
BILLING CODE 8010-01-M