[Federal Register Volume 69, Number 93 (Thursday, May 13, 2004)]
[Notices]
[Pages 26626-26627]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-10845]


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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 20549-0004.

Extension:

[[Page 26627]]

    Rule 604; SEC File No. 270-221; OMB Control No. 3235-0232
    Rule 605; SEC File No. 270-221; OMB Control No. 3235-0232
    Form 1-E; 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.), the Securities and Exchange 
Commission (the ``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 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, 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 ten issuers file a total of approximately fifteen 
notifications on Form 1-E with the Commission annually, together with 
offering circulars. The Commission estimates that the total burden 
hours for preparing these notifications would be 1,500 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 SEC 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. 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.
    Please direct general comments regarding the above information 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, DC 20503, or email to: [email protected]; and (ii) 
R. Corey Booth, Director/Chief Information Officer, Office of 
Information Technology, Securities and Exchange Commission, 450 5th 
Street, NW., Washington, DC 20549. Comments must be submitted to OMB 
within 30 days of this notice.

    Dated: May 5, 2004.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. 04-10845 Filed 5-12-04; 8:45 am]
BILLING CODE 8010-01-P