[Federal Register Volume 83, Number 94 (Tuesday, May 15, 2018)]
[Notices]
[Pages 22554-22555]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-10241]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-221, OMB Control No. 3235-0232]
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:
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'') is soliciting comments on the
collection of information summarized below. The Commission plans to
submit this existing collection of information of the Office of
Management and Budget for extension and approval.
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,
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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
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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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, Acting
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: May 9, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-10241 Filed 5-14-18; 8:45 am]
BILLING CODE 8011-01-P