[Federal Register Volume 69, Number 114 (Tuesday, June 15, 2004)]
[Notices]
[Page 33433]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-13419]


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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:
    Rule 155; OMB Control No. 3235-0549; SEC File No. 270-492;
    Rule 477; OMB Control No. 3235-0550; SEC File No. 270-493.

    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.
    Rule 155 (OMB Control No. 3235-0549; SEC File No. 270-492) under 
the Securities Act of 1933 provides safe harbors for a registered 
offering following an abandoned private offering, or a private offering 
following an abandoned registered offering, without integrating the 
registered and private offering in either case. Rule 155 requires any 
prospectus filed as a part of a registration statement after a private 
offering to include disclosure regarding abandonment of the private 
offering. Similarly, the rule requires an issuer to provide each 
offeree in a private offering following an abandoned registered 
offering with: (1) Information concerning withdrawal of the 
registration statement; (2) the fact that the private offering is 
unregistered; and (3) the legal implications of the offering's 
unregistered status. The likely respondents will be companies. All 
information submitted to the Commission is available to the public for 
review. Companies only need to satisfy the Rule 155 information 
requirements if they wish to take advantage of the rule's safe harbors. 
The Rule 155 information is required only on occasion. We estimate that 
600 issuers will file Rule 155 submissions annually at an estimated 4 
hours per response. We also estimate that 50% of the 2,400 total annual 
burden hours (1,200 burden hours) would be prepared by the company. We 
estimate that the remaining 50% of the burden hours is prepared by 
outside counsel.
    Securities Act Rule 477 (OMB 3235-0550; SEC File No. 270-493) sets 
forth procedures for withdrawing a registration statement or any 
amendment or exhibits thereto. The rule provides that if a registrant 
applies for withdrawal in anticipation of reliance on Rule 155's 
registered-to-private safe harbor, the registrant must state in the 
withdrawal application that the registrant plans to undertake a 
subsequent private offering in reliance on the rule. Without this 
statement, the Commission would not be able to monitor issuers' 
reliance on, and compliance with, Rule 155(c). The likely respondents 
will be companies. All information submitted to the Commission under 
Rule 477 is available to the public for review. Information provided 
under Rule 477 is mandatory. The information is required on occasion. 
It is estimated that 300 issuers will file Rule 477 submissions 
annually at an estimated one hour per response for a total annual 
burden of 300 hours. We estimate that 100% of the reporting burden is 
prepared by the issuer.
    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 control number.
    Written comments regarding the above information should be directed 
to the following persons: (i) Desk Officer for the Securities and 
Exchange Commission at: [email protected]; and (ii) R. Corey 
Booth, Director/Chief Information Officer, 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: June 7, 2004.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 04-13419 Filed 6-14-04; 8:45 am]
BILLING CODE 8010-01-P