Document ID: SEC-2007-0519-0001
Agency: sec
Document Type: Notice
Title: Agency information collection activities; proposals, submissions, and approvals
Posted Date: 2007-04-06T04:00Z

[Federal Register: April 6, 2007 (Volume 72, Number 66)]
[Notices]               
[Page 17206]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr06ap07-91]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collections; Comment Request

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

Extensions:
    Rule 155; OMB Control No. 3235-0549 ; SEC File No. 270-492.
    Rule 477; OMB Control No. 3235-0550; SEC File No. 270-493.

    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.
    Rule 155 (17 CFR 230.155) under the Securities Act of 1933 (15 
U.S.C. 77a et seq.) provides safe harbors for a registered offering 
following an abandoned private offering, or a private offering 
following an abandoned registered offering, without integrating the 
registered and private offerings in either case. Rule 155 requires any 
prospectus filed as a part of a registration statement after a private 
offering to include disclosure regarding abandonment of the private 
offering. Similarly, the rule requires an issuer to provide each 
offeree in a private offering following an abandoned registered 
offering with: (1) Information concerning withdrawal of the 
registration statement; (2) the fact that the private offering is 
unregistered; and (3) the legal implications of the offering's 
unregistered status. The likely respondents will be companies. Rule 155 
takes approximately 4 hours per response to prepare and is filed by 600 
respondents. We estimate that 50% of the 4 hours per response (2 hours 
per response) is prepared by the filer for a total annual reporting 
burden of 1,200 hours (2 hours per response x 600 responses).
    Rule 477 (17 CFR 230.477) under the Securities Act of 1933 (15 
U.S.C. 77a et seq.) sets forth procedures for withdrawing a 
registration statement or any amendment or exhibits thereto. The rule 
provides that if a registrant applies for withdrawal in anticipation of 
reliance on Rule 155's registered-to-private safe harbor, the 
registrant must state in the withdrawal application that the registrant 
plans to undertake a subsequent private offering in reliance on the 
rule. Without this statement, the Commission would not be able to 
monitor issuers' reliance on, and compliance with, Rule 155(c). The 
likely respondents will be companies. We estimate that 300 issuers will 
file Rule 477 submissions annually at an estimated one-hour per 
response for a total annual burden of 300 hours. We estimate that 100% 
of the reporting burden is prepared by the issuer.
    Written comments are invited on: (a) Whether these proposed 
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 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.
    Please direct your written comments to R. Corey Booth, Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312; or 
send an e-mail to: PRA_Mailbox@sec.gov.

    Dated: March 29, 2007.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-6495 Filed 4-5-07; 8:45 am]

BILLING CODE 8010-01-P