[Federal Register Volume 81, Number 31 (Wednesday, February 17, 2016)]
[Notices]
[Page 8118]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-03114]
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SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; 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:
Rule 607, SEC File No. 270-561, OMB Control No. 3235-0634,
Request for a New OMB Control No.
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'') is soliciting comments on the
collection of information summarized below. The Commission plans to
submit this existing collection of information to the Office of
Management and Budget for extension and approval.
Regulation E (17 CFR 230.601 to 230.610a) exempts from registration
under the Securities Act of 1933 (15 U.S.C. 77a et seq.) (``Securities
Act'') securities issued by a small business investment company
(``SBIC'') which is registered under the Investment Company Act of 1940
(15 U.S.C. 80a-1 et seq.) (``Investment Company Act'') or a closed-end
investment company that has elected to be regulated as a business
development company (``BDC'') under the Investment Company Act, so long
as the aggregate offering price of all securities of the issuer that
may be sold within a 12-month period does not exceed $5,000,000 and
certain other conditions are met. Rule 607 under Regulation E (17 CFR
230.607) entitled, ``Sales material to be filed,'' requires sales
material used in connection with securities offerings under Regulation
E to be filed with the Commission at least five days (excluding
weekends and holidays) prior to its use.\1\ Commission staff reviews
sales material filed under rule 607 for materially misleading
statements and omissions. The requirements of rule 607 are designed to
protect investors from the use of false or misleading sales material in
connection with Regulation E offerings.
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\1\ Sales material includes advertisements, articles or other
communications to be published in newspapers, magazines, or other
periodicals; radio and television scripts; and letters, circulars or
other written communications proposed to be sent given or otherwise
communicated to more than ten persons.
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Respondents to this collection of information include SBICs and
BDCs making an offering of securities under Regulation E. Each
respondent's reporting burden under rule 607 relates to the burden
associated with filing its sales material electronically. The burden of
filing electronically, however, is negligible and there have been no
filings made under this rule, so this collection of information does
not impose any burden on the industry. However, we are requesting one
annual response and an annual burden of one hour for administrative
purposes. The estimate of average burden hours is made solely for
purposes of the Paperwork Reduction Act and is not derived from a
quantitative, comprehensive, or even representative survey or study of
the burdens associated with Commission rules and forms.
The requirements of this collection of information are mandatory.
Responses 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 control number.
Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the agency, including whether the information will
have practical utility; (b) the accuracy of the agency's estimate of
the burden of the 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 in writing within 60
days of this publication.
Please direct your written comments to Pamela Dyson, Director/Chief
Information Officer, Securities and Exchange Commission, C/O Remi
Pavlik-Simon, 100 F Street NE., Washington, DC 20549; or send an email
to: [email protected].
Dated: February 10, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-03114 Filed 2-16-16; 8:45 am]
BILLING CODE 8011-01-P