[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: <a href="/cdn-cgi/l/email-protection#1b4b495a44567a72777974635b687e78357c746d"><span class="__cf_email__" data-cfemail="134341524c5e727a7f717c6b536076703d747c65">[email protected]</span></a>.

    Dated: November 22, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-29889 Filed 11-26-10; 8:45 am]
BILLING CODE 8011-01-P


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