Document ID: SEC-2020-0342-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2020-03-11T04:00Z

[Federal Register Volume 85, Number 48 (Wednesday, March 11, 2020)]
[Notices]
[Page 14275]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-04949]

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SECURITIES AND EXCHANGE COMMISSION

Submission for OMB Review; Comment Request

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

Extension:
    Rule 147A(f)(1)(iii) Written Representation as to Purchaser 
Residency, SEC File No. 270-806, OMB Control No. 3235-0757.

    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'') has submitted to the Office of Management 
and Budget this request for extension of the previously approved 
collection of information discussed below.
    Rule 147A(f)(1)(iii) (17 CFR 230.147A(f)(1)(iii)) requires the 
issuer to obtain from the purchaser a written representation as to the 
pruchase's residency in order to qualify for safe harbor under 
Securities Act Rule 147A (17 CFR 230.147A). Rule 147A is an exemption 
from registration under Securities Act Section 28 (15 U.S.C. 77z-3). 
Under Rule 147A, the purchaser in the offering must be a resident of 
the same state or territory in which the issuer is a resident. While 
the formal representation of residency by itself is not sufficient to 
establish a reasonable belief that such purchasers are in-state 
residents, the representation requirement, together with the reasonable 
belief standard, may result in better compliance with the rule and 
maintaining appropriate investor protections. The representation of 
residency is not provided to the Commission. Approximately 700 
respondents provide the information required by Rule 147A(f)(1)(iii) at 
an estimated 2.75 hours per response for a total annual reporting 
burden of 1,925 hours (2.75 hours x 700 responses).
    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.
    The public may view the background documentation for this 
information collection at the following website, www.reginfo.gov. 
Comments should be directed to: (i) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, DC 20503, or by sending an email to: 
Lindsay.M.Abate@omb.eop.gov; and (ii) David Bottom, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Cynthia 
Roscoe, 100 F Street NE, Washington, DC 20549 or send an email to: 
PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: March 6, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-04949 Filed 3-10-20; 8:45 am]
BILLING CODE 8011-01-P