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[Federal Register Volume 89, Number 231 (Monday, December 2, 2024)]
[Notices]
[Pages 95338-95339]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-28221]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-221, OMB Control No. 3235-0232]

Submission for OMB Review; Comment Request; Extension: Form 1-E, 
Regulation E

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

    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 two notifications on Form 
1-E, together with offering circulars, with the Commission.\1\ Based on 
the 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. According to Commission records, during 2015, 2016, 
and 2017, one issuer filed seven notifications on Form 1-E, together 
with offering circulars; no Form 1-E has been filed with the 
Commission since 2017.
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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

[[Page 95339]]

displays a currently valid OMB control number.
    The 30-day public comment period for this information collection 
request opens on December 3, 2024 and closes on January 2, 2025. The 
public may view the full information request and submit comments at 
https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202408-3235-029 or 
email comments to [email protected].

    Dated: November 26, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-28221 Filed 11-29-24; 8:45 am]
BILLING CODE 8011-01-P
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