Document ID: SEC-2006-0237-0001
Agency: sec
Document Type: Notice
Title: Agency information collection activities; proposals, submissions, and approvals
Posted Date: 2006-02-23T05:00Z

[Federal Register: February 23, 2006 (Volume 71, Number 36)]
[Notices]               
[Page 9386]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr23fe06-97]                         

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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 Filings and Information Services, Washington, DC 
20549.

Extension:
    Regulation FD; OMB Control No. 3235-0536; SEC File No. 270-475.

    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 a 
request for extension of the previously approved collection of 
information discussed below.
    Regulation FD--Other Disclosure Materials requires public 
disclosure of material information from issuers of publicly traded 
securities so that investors have current information upon which to 
base investment decisions. The purpose of the regulation is to require 
that; (1) When an issuer intentionally discloses material information, 
it does so through public disclosure, not selective disclosure; and (2) 
whenever an issuer learns that it has made a non-intentional material 
selective disclosure, the issuer makes prompt public disclosure of that 
information. Regulation FD was adopted due to a concern that the 
practice of selective disclosure leads to a loss of investor confidence 
in the integrity of our capital markets. All information is provided to 
the public for review. The information required is filed on occasion 
and is mandatory. We estimate that approximately 13,000 issuers make 
Regulation FD disclosures approximately five times a year for a total 
of 58,000 issuers make Regulation FD disclosures approximately five 
times a year for a total of 58,000 submissions annually, not including 
an estimated 7,000 issuers who file Form 8-K to comply with Regulation 
FD. We estimate that it takes approximately 5 hours per response 
(58,000 x 5 hours) for a total burden of 290,000 hours annually. The 
filer prepares 25% of the 290,000 annual burden hours for a total of 
72,500 burden hours.
    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 regarding the above information should be directed 
to the following persons: (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 send an e-mail to 
David_Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief 

Information Officer, Office of Information Technology, Securities and 
Exchange Commission, 100 F Street, NE., Washington, DC 20549. Comments 
must be submitted to OMB within 30 days of this notice.

    Dated: February 16, 2006.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. 06-1668 Filed 2-22-06; 8:45 am]

BILLING CODE 8010-01-M