[Federal Register Volume 67, Number 56 (Friday, March 22, 2002)]
[Notices]
[Page 13377]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-6893]



[[Page 13377]]

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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.
Extensions
Rule 701, OMB Control No. 3235-0522, SEC File No. 270-306
Regulations 14D and 14E, and Schedule 14D-9, OMB Control No. 3235-
0102, SEC File No. 270-114

    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 extension of the previously approved collections of 
information discussed below.
    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 a basic level of information is available to employees and others 
when substantial amounts of securities are issued in compensatory 
agreements. Information provided under Rule 701 is mandatory. 
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. This information is made available to the public. Information 
provided on Schedule 14D-9 is mandatory. Approximately 310 issuers 
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.
    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 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 10102, 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: March 11, 2002.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-6893 Filed 3-21-02; 8:45 am]
BILLING CODE 8010-01-P