[Federal Register Volume 77, Number 116 (Friday, June 15, 2012)]
[Notices]
[Page 36020]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-14624]



[[Page 36020]]

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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 Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
Regulation FD; OMB Control No. 3235-0536; SEC File No. 270-475.

    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 a 
request for extension of the previously approved collection of 
information discussed below.
    Regulation FD (17 CFR 243.100 et seq.)--Other Disclosure Materials 
requires public disclosure of material information from issuers of 
publicly traded securities so that investors have current information 
upon which to base investment decisions. The purpose of the regulation 
is to require that: (1) When an issuer intentionally discloses material 
information, to do so through public disclosure, not selective 
disclosure; and (2) to make prompt public disclosure of material 
information that was unintentionally selectively disclosed. Regulation 
FD was adopted due to a concern that the practice of selective 
disclosure leads to a loss of investor confidence in the integrity of 
our capital markets. All information is provided to the public for 
review. The information required is filed on occasion and is mandatory. 
We estimate that approximately 13,000 issuers make Regulation FD 
disclosures approximately five times a year for a total of 58,000 
submissions annually, not including an estimated 7,000 issuers who file 
Form 8-K to comply with Regulation FD. We estimate that it takes 
approximately 5 hours per response (58,000 responses x 5 hours) for a 
total burden of 290,000 hours annually. In addition, we estimate that 
25% of the 5 hours (1.25 hours) is prepared by the filer for an annual 
reporting burden of 72,500 hours (1.25 hours per response x 58,000 
responses).
    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.
    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid control number. No 
person shall be subject to any penalty for failing to comply with a 
collection of information subject to PRA that does not display a valid 
Office of Management and Budget (OMB) control number.
    The public may view the background documentation for this 
information collection at the following Web site, www.reginfo.gov. 
Comments should be directed to: (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 by sending an email to: [email protected]; and (ii) Thomas Bayer, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 
6432 General Green Way, Alexandria, VA 22312 or send an email to: [email protected]. Comments must be submitted to OMB within 30 days of 
this notice.

    Dated: June 11, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-14624 Filed 6-14-12; 8:45 am]
BILLING CODE 8011-01-P