Document ID: SEC-2011-0387-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2011-03-22T04:00Z

[Federal Register Volume 76, Number 55 (Tuesday, March 22, 2011)]
[Notices]
[Pages 16018-16019]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-6656]

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SECURITIES AND EXCHANGE COMMISSION

Proposed Collection; Comment Request

Upon Written Request, Copies Available From: U.S. Securities and 
Exchange Commission, Office of Investor Education and Advocacy, 
Washington, DC 20549-0213.
Extension:
    Rule 102, SEC File No. 270-409, OMB Control No. 3235-0467.

    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 for the Rule 102 of Regulation M (17 
CFR 242.102), defined as Activities by Issuers and Selling Security 
Holders During a Distribution.
    Rule 102 prohibits distribution participants, issuers, and selling 
security holders from purchasing activities at specified times during a 
distribution of securities. Persons otherwise covered by these rules 
may seek to use several applicable exceptions such as exclusion for 
actively traded reference securities and the maintenance of policies 
regarding information barriers between their affiliates.
    There are approximately 895 respondents per year that require an 
aggregate total of 1,795 hours to comply with this rule. Each 
respondent makes an estimated 1 annual response. Each response takes on 
average approximately 2.006 hours to complete. Thus, the total 
compliance burden per year is 1,795 burden hours. The total compliance 
cost for the respondents is approximately $102,261.15, resulting in a 
cost of compliance for the respondent per response of approximately 
$114.26 (i.e., $102,261.15/895 responses). These are internal labor 
costs and there are no other costs.
    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 
estimates of the burden of the proposed collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be 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.
    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid

[[Page 16019]]

control number. No person shall be subject to any penalty for failing 
to comply with a collection of information subject to the PRA that does 
not display a valid Office of Management and Budget (OMB) control 
number.
    Please direct your written comments to: Thomas Bayer, Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312 or 
send an e-mail to: PRA_Mailbox@sec.gov.

    Dated: March 16, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-6656 Filed 3-21-11; 8:45 am]
BILLING CODE 8011-01-P