[Federal Register Volume 87, Number 13 (Thursday, January 20, 2022)]
[Notices]
[Pages 3141-3142]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-01052]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-221, OMB Control No. 3235-0232]
Submission for OMB Review; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736
Extension:
Form 1-E, Regulation E
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 a request for extension of the previously
approved collection of information discussed below.
Form 1-E (17 CFR 239.200) under the Securities Act of 1933 (15
U.S.C. 77a et seq.) (``Securities Act'') is the form that a small
business investment company (``SBIC'') or business development company
(``BDC'') uses to notify the Commission that it is claiming an
exemption under Regulation E from registering its securities under the
Securities Act. Rule 605 of Regulation E (17 CFR 230.605) under the
Securities Act requires an SBIC or BDC claiming such an exemption to
file an offering circular with the Commission that must also be
provided to persons to whom an offer is made. 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 jurisdictions in which
the issuer intends to offer the 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 rule 605 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. The Commission
estimates that, each year, one issuer files one notification on Form 1-
E, together with offering circulars, with the Commission.\1\ Based on
the Commission's experience with disclosure documents, we estimate that
the burden from compliance with Form 1-E and the offering circular
requires approximately 100 hours per filing. The annual burden hours
for compliance with Form 1-E and the offering circular would be 200
hours (2 responses x 100 hours per response). Estimates of the burden
hours are made solely for the
[[Page 3142]]
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.
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\1\ According to Commission records, one issuer filed two
notifications on Form 1-E, together with offering circulars, during
2013 and 2014.
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Compliance with the information collection requirements of the
rules is necessary to obtain the benefit of relying on the rules. 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.
The public may view the background documentation for this
information collection at the following website, 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) David Bottom, Director/Chief
Information Officer, Securities and Exchange Commission, c/o John
Pezzullo, 100 F Street NE, Washington, DC 20549 or send an email to:
[email protected]. Written comments and recommendations for the
proposed information collection should be sent within 30 days of
publication of this notice to www.reginfo.gov/public/do/PRAMain. Find
this particular information collection by selecting ``Currently under
30-day Review--Open for Public Comments'' or by using the search
function.
Dated: January 14, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-01052 Filed 1-19-22; 8:45 am]
BILLING CODE 8011-01-P