[Federal Register Volume 87, Number 124 (Wednesday, June 29, 2022)]
[Notices]
[Page 38794]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-13809]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-561, OMB Control No. 3235-0747]


Proposed Collection; Comment Request; Extension: Rule 607

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'') 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.
    Regulation E (17 CFR 230.601 to 230.610a) exempts from registration 
under the Securities Act of 1933 (15 U.S.C. 77a et seq.) (``Securities 
Act'') securities issued by a small business investment company 
(``SBIC'') which is registered under the Investment Company Act of 1940 
(15 U.S.C. 80a-1 et seq.) (``Investment Company Act'') or a closed-end 
investment company that has elected to be regulated as a business 
development company (``BDC'') under the Investment Company Act, so long 
as the aggregate offering price of all securities of the issuer that 
may be sold within a 12-month period does not exceed $5,000,000 and 
certain other conditions are met. Rule 607 under Regulation E (17 CFR 
230.607) entitled, ``Sales material to be filed,'' requires sales 
material used in connection with securities offerings under Regulation 
E to be filed with the Commission at least five days (excluding 
weekends and holidays) prior to its use.\1\ Commission staff reviews 
sales material filed under rule 607 for materially misleading 
statements and omissions. The requirements of rule 607 are designed to 
protect investors from the use of false or misleading sales material in 
connection with Regulation E offerings.
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    \1\ Sales material includes advertisements, articles or other 
communications to be published in newspapers, magazines, or other 
periodicals; radio and television scripts; and letters, circulars or 
other written communications proposed to be sent given or otherwise 
communicated to more than ten persons.
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    Respondents to this collection of information include SBICs and 
BDCs making an offering of securities pursuant to Regulation E. No 
filings were submitted to the Commission under rule 607 in 2019, 2020, 
or 2021. Accordingly, we estimate no annual responses. Each 
respondent's reporting burden under rule 607 relates to the internal 
burden associated with filing its sales material electronically, which 
is negligible. For administrative purposes, we estimate an annual 
burden of one hour. The estimate of average burden hours is made solely 
for purposes of the Paperwork Reduction Act and is not derived from a 
quantitative, comprehensive, or even representative survey or study of 
the burdens associated with Commission rules and forms.
    The requirements of this collection of information are mandatory. 
Responses 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 control number.
    Written comments are invited on: (a) whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimate of the burden of 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 by August 29, 2022.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    Please direct your written comments to: David Bottom, Acting 
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#bfefedfee0f2ded6d3ddd0c7ffccdadc91d8d0c9"><span class="__cf_email__" data-cfemail="6d3d3f2c32200c04010f02152d1e080e430a021b">[email protected]</span></a>.

    Dated: June 23, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-13809 Filed 6-28-22; 8:45 am]
BILLING CODE 8011-01-P


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