[Federal Register Volume 66, Number 43 (Monday, March 5, 2001)]
[Notices]
[Pages 13357-13358]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-4931]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

    Upon Written Request, Copies Available From: Securities and 
Exchange Commission, Office of Filings and Information Services, 
Washington, DC 20549. Extension: Notification under Regulation E; Form 
1-E; Rule 604 and Rule 605, SEC File No. 270-221, OMB Control No. 3235-
0232.
    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 
collections of information summarized below. The Commission plans to 
submit these existing collections of information to the Office of 
Management and Budget for extension and approval.

Rule 604--Filing of Notification on Form 1-E

    Rule 604 of Regulation E [17 CFR 230.604] under the Securities Act 
of 1933 [15 U.S.C. 77a et seq.] (``Securities Act'') requires a small 
business investment company (``SBIC'') or a business development 
company (``BDC'') claiming an exemption from registering its securities 
under the Securities Act to file a notification with the Commission on 
Form 1-E.

Rule 605--Filing and Use of the Offering Circular

    Rule 605 of Regulation E [17 CFR 230.605] under the Securities Act 
requires an SBIC or BDC claiming an exemption from registering its 
securities under the Securities Act to file an offering circular with 
the Commission that must also be provided to persons to whom an offer 
is made.

Form 1-E--Notification Under Regulation E

    Form 1-E is the form that an SBIC or BDC uses to notify the 
Commission that it is claiming an exemption under Regulation E from 
registering its securities under the Securities Act. Form 1-E requires 
an issuer to provide the names and addresses of the issuer, its 
affiliates, director, officers, and counsel; a description of events 
which would make the exemption unavailable; the jurisdiction in which 
the issuer intends to offer its 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 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. It is estimated that 
approximately three issuers file with the Commission approximately two 
notifications on Form 1-E annually, including offering circulars. The 
Commission estimates that the total burden hours for preparing these 
notifications would be 600 hours

[[Page 13358]]

in the aggregate. Estimates of average burden hours are made solely for 
the purposes of the Paperwork Reduction Act, and are not derived from a 
comprehensive or even a representative survey or study of the costs of 
Commission rules and forms.
    Written comments are invited on: (a) Whether the 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 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 in writing within 60 
days of this publication.
    Please direct your written comments to Michael E. Bartell, 
Associate Executive Director, Office of Information Technology, 
Securities and Exchange Commission, 450 5th Street, NW., Washington, DC 
20549.

    Dated: February 16, 2001.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-4931 Filed 3-2-01; 8:45 am]
BILLING CODE 8010-01-M