[Federal Register Volume 75, Number 228 (Monday, November 29, 2010)]
[Notices]
[Page 73137]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-29889]
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SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of Investor Education and Advocacy, Washington, DC
20549-0213.
Extension:
Rule 701, OMB Control No. 3235-0522, SEC File No. 270-306.
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 (``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.
Rule 701 (17 CFR 230.701) under the Securities Act of 1933
(``Securities Act'') (15 U.S.C. 77a et seq.) provides an exemption for
certain issuers from the registration requirements of the Securities
Act for limited offerings and sales of securities issued under
compensatory benefit plans or contracts. The purpose of Rule 701 is to
ensure that a basic level of information is available to employees and
others when substantial amounts of securities are issued in
compensatory arrangements. Approximately 300 companies annually rely on
the Rule 701 exemption. The Rule 701 disclosure takes an estimated 2
hours per response to prepare for a total annual burden of 600 hours.
We estimate that 25% of the 2 hours per response (0.5 hours) is
prepared by the company for a total annual reporting burden of 150
hours (0.5 hours per response x 300 responses).
Written comments are invited on: (a) Whether this 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
imposed by 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 Thomas Bayer, Chief
Information Officer, Securities and Exchange Commission, C/O Remi
Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312; or
send an e-mail to: [email protected].
Dated: November 22, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-29889 Filed 11-26-10; 8:45 am]
BILLING CODE 8011-01-P