[Federal Register Volume 83, Number 129 (Thursday, July 5, 2018)]
[Notices]
[Page 31431]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-14360]


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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:
    Regulation BTR, SEC File No. 270-521, OMB Control No. 3235-0579

    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'') has submitted to the Office of Management 
and Budget this request for extension of the previously approved 
collection of information discussed below.
    Regulation Blackout Trade Restriction (``Regulation BTR'') (17 CFR 
245.100-245.104) clarifies the scope and application of Section 306(a) 
of the Sarbanes-Oxley Act of 2002 (``Act'') (15 U.S.C. 7244(a)). 
Section 306(a)(6) [15 U.S.C. 7244(a)(6)] of the Act requires an issuer 
to provide timely notice to its directors and executive officers and to 
the Commission of the imposition of a blackout period that would 
trigger the statutory trading prohibition of Section 306(a)(1) [15 
U.S.C. 7244(a)(1)]. Section 306(a) of the Act prohibits any director or 
executive officer of an issuer of any equity security, directly or 
indirectly, from purchasing, selling or otherwise acquiring or 
transferring any equity security of that issuer during any blackout 
period with respect to such equity security, if the director or 
executive officer acquired the equity security in connection with his 
or her service or employment. Approximately 1,230 issuers file 
Regulation BTR notices approximately 5 times a year for a total of 
6,150 responses. We estimate that it takes approximately 2 hours to 
prepare the blackout notice for a total annual burden of 2,460 hours. 
The issuer prepares 75% of the 2,460 annual burden hours for a total 
reporting burden of (1,230 x 2 x 0.75) 1,845 hours. In addition, we 
estimate that an issuer distributes a notice to five directors and 
executive officers at an estimated 5 minutes per notice (1,230 blackout 
period x 5 notices x 5 minutes) for a total reporting burden of 512 
hours. The combined annual reporting burden is (1,845 hours + 512 
hours) 2,357 hours.
    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.
    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: 
<a href="/cdn-cgi/l/email-protection#07546f66607261736658466f6a626347686a652962687729606871"><span class="__cf_email__" data-cfemail="2e7d464f495b485a4f716f46434b4a6e41434c004b415e00494158">[email protected]</span></a>; 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: 
<a href="/cdn-cgi/l/email-protection#86d6d4c7d9cbe7efeae4e9fec6f5e3e5a8e1e9f0"><span class="__cf_email__" data-cfemail="401012011f0d21292c222f38003325236e272f36">[email protected]</span></a>. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: June 28, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-14360 Filed 7-3-18; 8:45 am]
 BILLING CODE 8011-01-P


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