[Federal Register Volume 88, Number 23 (Friday, February 3, 2023)]
[Notices]
[Pages 7486-7487]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-02262]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-411, OMB Control No. 3235-0465]


Proposed Collection; Comment Request; Extension: Rule 104

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the existing 
collection of information provided for in Rule 104 of Regulation M (17 
CFR 242.104), under the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.). The Commission plans to submit this existing collection of 
information to the Office of Management and Budget (``OMB'') for 
extension and approval.
    Rule 104--Stabilizing and Other Activities in Connection with an 
Offering--permits stabilizing by a distribution participant during a 
distribution so long as the distribution participant discloses 
information to the market and investors. This rule requires

[[Page 7487]]

disclosure in offering materials of the potential stabilizing 
transactions and that the distribution participant inform the market 
when a stabilizing bid is made. It also requires the distribution 
participants (i.e., the syndicate manager) to maintain information 
regarding syndicate covering transactions and penalty bids and disclose 
such information to the Self-Regulatory Organization (SRO).
    There are approximately 1,211 respondents per year that require an 
aggregate total of approximately 242 hours per year to comply with this 
rule. Each respondent makes an estimated 1 annual response. Each 
response takes approximately 0.20 hours (12 minutes) to complete. Thus, 
the total hour burden per year is approximately 242 hours. The total 
estimated internal labor cost of compliance for the respondents is 
approximately $19,618.20 per year, resulting in an estimated internal 
cost of compliance for each respondent per response of approximately 
$16.20 (i.e., $19,618.20/1,211 respondents).
    Written comments are invited on: (a) whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates of the burden of the proposed collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information 
collected; and (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology. 
Consideration will be given to comments and suggestions submitted by 
April 4, 2023.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    Please direct your written comments to: 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].

    Dated: January 30, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-02262 Filed 2-2-23; 8:45 am]
BILLING CODE 8011-01-P