[Federal Register Volume 67, Number 6 (Wednesday, January 9, 2002)]
[Notices]
[Pages 1249-1250]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-527]


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SECURITIES AND EXCHANGE COMMISSION


Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, 
DC 20549
Extensions:
    Rule 701--OMB Control No. 3235-0522, SEC File No. 270-306
    Regulations 14D and 14E--OMB Control No. 3235-0102, SEC File No. 
270-114
    Schedule 14D-9

    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'') 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.
    Securities Act rule 701 requires when offerings in excess of $5 
million are made under the employee benefit plan exemptive rule, the 
issuers must provide the employees with risk and financial statement 
disclosures among other things. The purpose of rule 701 is to ensure 
that the basic level of information is available to employees and 
others when substantial amounts of securities are issued in 
compensatory arrangements. Approximately 300 companies annually rely on 
rule 701 exemption and it takes an estimated .5 hours to prepare and 
review. It is estimated that 25% of the 600 total annual burden hours 
(150 hours) is prepared by the company.
    Regulations 14D and 14E and Schedule 14D-9 require information 
important to security holders in deciding how to respond to tender 
offers. Approximately 310 companies annually file Schedule 14D-9 and it 
takes 64.43 hours to prepare and review. It is estimated that 25% of 
the 79,803 total burden hours (19,973 burden hours) is prepared by the 
company.
    Written comments are invited on: (a) Whether these collections of 
information are necessary for the proper

[[Page 1250]]

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 collections 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 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 Fifth Street, NW., Washington, 
DC 20549.

    Dated: December 28, 2001.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-527 Filed 1-8-02; 8:45 am]
BILLING CODE 8010-01-M