[Federal Register Volume 66, Number 83 (Monday, April 30, 2001)]
[Notices]
[Page 21420]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-10642]


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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.
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'') has submitted to the Office of 
Management and Budget (``OMB'') a request for extension of the 
previously approved collections of information discussed below.

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 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, directors, 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 in the aggregate. 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 Commission rules and forms.
    SBICs or BDCs wishing to claim an exemption under Regulation E from 
registering securities under the Securities Act are required to file a 
notification on Form 1-E and offering circular. The information 
provided on Form 1-E and in the offering circular will not be kept 
confidential. The Commission 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.
    General comments regarding the above information should be directed 
to the following persons: (i) 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; and (ii) Michael E. Bartell, 
Associate Executive Director, Office of Information Technology, 
Securities and Exchange Commission, 450 Fifth Street NW., Washington, 
DC 20549. Comments must be submitted to OMB within 30 days of this 
notice.

    Dated: April 24, 2001.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-10642 Filed 4-27-01; 8:45 am]
BILLING CODE 8010-01-M