[Federal Register Volume 75, Number 130 (Thursday, July 8, 2010)]
[Notices]
[Page 39288]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-16547]
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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:
Rule 607; SEC File No. 270-561; OMB Control No. 3235-0634.
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.
Regulation E (17 CFR 230.601-230.610a) provides a conditional
exemption from the registration provisions of the Securities Act of
1933 (15 U.S.C. 77a et seq.) (``Securities Act'') for securities of
small business investment companies (``SBICs'') and investment
companies that elect to be treated as business development companies
(``BDCs''). Regulation E was initially adopted in 1958 and made
available to SBICs pursuant to Section 3(c) of the Securities Act.
Section 3(c) of the Securities Act generally permits the Securities and
Exchange Commission (``Commission'') to add to the securities exempted
from the Securities Act by Section 3 any class of securities issued by
an SBIC. In 1984, pursuant to Section 3(b) of the Securities Act,
Regulation E was amended to permit the availability of the exemption to
BDCs. Section 3(b) of the Securities Act generally permits the
Commission to add any class of securities to the securities exempted
from the Securities Act by Section 3.
Regulation E allows the exemption of securities issued by an SBIC
which is registered under the Investment Company Act of 1940
(``Investment Company Act'') (15 U.S.C. 80a-1 et seq.) or a closed-end
investment company that has elected to be regulated as a BDC under the
Investment Company Act from registration under the Securities 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 (17 CFR 230.607) entitled, ``Sales material to be filed,''
requires that 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.
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.
Please direct general comments regarding the above information to
the following persons: (i) Desk Officer for the Securities and Exchange
Commission, Office of Management and Budget, Room 10102, New Executive
Office Building, Washington, DC 20503 or send an e-mail to Shagufta
Ahmed at [email protected]; and (ii) Charles Boucher,
Director/CIO, Securities and Exchange Commission, C/O Shirley
Martinson, 6432 General Green Way, Alexandria, VA 22312; or send an e-
mail to: [email protected]. Comments must be submitted to OMB within
30 days of this notice.
Dated: June 30, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-16547 Filed 7-7-10; 8:45 am]
BILLING CODE 8010-01-P