Document ID: SEC-2007-0799-0001
Agency: sec
Document Type: Notice
Title: Agency information collection activities; proposals, submissions, and approvals
Posted Date: 2007-06-11T04:00Z

[Federal Register: June 11, 2007 (Volume 72, Number 111)]
[Notices]               
[Page 32148-32149]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr11jn07-86]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Submissions for OMB Review; 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'') has submitted to the Office of Management 
and Budget these requests for extension of the previously approved 
collections of information discussed below.
    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. All 
information submitted to the Commission is available to the public for 
review. Companies only need to satisfy the Rule 155 information 
requirements if they wish to take advantage of the rule's safe harbors. 
The Rule 155 information is required only on occasion. 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. All information submitted to the 
Commission under Rule 477 is available

[[Page 32149]]

to the public for review. Information provided under Rule 477 is 
mandatory. The information is required on occasion. 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.
    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, 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. Comments must be submitted to OMB within 
30 days of this notice.

    Dated: June 4, 2007.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-11161 Filed 6-8-07; 8:45 am]

BILLING CODE 8010-01-P