[Federal Register Volume 87, Number 116 (Thursday, June 16, 2022)]
[Notices]
[Pages 36355-36356]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-12947]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-306, OMB Control No. 3235-0522]


Proposed Collection; Comment Request: Extension; Rule 701

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 (``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. We estimate that approximately 800 companies 
annually rely on the Rule 701 exemption and that it takes 2 hours to 
prepare each response. We estimate

[[Page 36356]]

that 25% of the 2 hours per response (0.5 hours) is prepared by the 
company for a total annual reporting burden of 400 hours (0.5 hours per 
response x 800 responses).
    Written comments are invited on: (a) whether this proposed 
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 by August 15, 2022.
    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.
    Please direct your written comment to David Bottom, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o John 
Pezzullo, 100 F Street NE, Washington, DC 20549 or send an email to: 
<a href="/cdn-cgi/l/email-protection#de8e8c9f8193bfb7b2bcb1a69eadbbbdf0b9b1a8"><span class="__cf_email__" data-cfemail="27777566786a464e4b45485f6754424409404851">[email protected]</span></a>.

    Dated: June 10, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-12947 Filed 6-15-22; 8:45 am]
BILLING CODE 8011-01-P


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