[Federal Register Volume 70, Number 3 (Wednesday, January 5, 2005)]
[Notices]
[Pages 929-930]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-175]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon written request, Copies available from: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549.


[[Page 930]]


Extensions:
    Rule 701, OMB Control No. 3235-0522, SEC File No. 270-306
    Regulations 14D and 14E, OMB Control No. 3235-0102, SEC File No. 
270-114
    Schedule 14D-9

    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 collections of 
information summarized below. The Commission plans to submit these 
existing collections of information to the Office of Management and 
Budget for extension and approval.
    Securities Act Rule 701 requires when offerings in excess of $5 
million are made under the employee benefit plan exemptive rule, the 
issuers must provide the employees with risk and financial statement 
disclosures among other things. The purpose of the Rule 701 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 Rule 701 
exemption and it takes an estimated .5 hours to prepare for a total 
annual burden of 600 hours. It is estimated that 25% of the 600 total 
annual burden hours (150 reporting burden hours) is prepared by the 
company.
    Regulations 14D and 14E and related Schedule 14D-9 require 
information important to security holders in deciding how to respond to 
tender offers. Approximately 360 companies annually file Schedule 14D-9 
and it takes 258 hours to prepare for a total annual burden of 92,880. 
It is estimated that 25% of the 92,880 total burden hours (23,220 
reporting burden hours) is prepared by the company.
    Written comments are invited on: (a) Whether these collections of 
information are 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 of the 
collections 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 R. Corey Booth, Director/
Chief Information Officer, Office of Information Technology, Securities 
and Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549.

    Dated: December 28, 2004.
Margaret H. McFarland,
Deputy Security.
[FR Doc. 05-175 Filed 1-4-05; 8:45 am]
BILLING CODE 8010-01-M