83 FR 35303 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 143 (July 25, 2018)

[Federal Register Volume 83, Number 143 (Wednesday, July 25, 2018)]
[Notices]
[Pages 35303-35304]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-15855]


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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 FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

Extension:
    Form 1-E, Regulation E, SEC File No. 270-221, OMB Control No. 
3235-0232

    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.
    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, with the Commission.\1\ Based on 
the

[[Page 35304]]

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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    Compliance with the information collection requirements of the 
rules is necessary to obtain the benefit of relying on the rules. The 
information provided on Form 1-E and in the offering circular 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 OMB control number.
    The public may view the background documentation for this 
information collection at the following website, www.reginfo.gov. 
Comments should be directed to: (i) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, DC 20503, or by sending an email to: 
[email protected]; and (ii) Pamela Dyson, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Candace 
Kenner, 100 F Street NE, Washington, DC 20549 or send an email to: 
[email protected]. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: July 19, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-15855 Filed 7-24-18; 8:45 am]
 BILLING CODE 8011-01-P