Document ID: SEC-2008-1487-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2008-10-30T04:00Z

[Federal Register: October 30, 2008 (Volume 73, Number 211)]
[Notices]               
[Page 64641]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr30oc08-78]                         

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Regulation BTR; OMB Control No. 3235-0579; SEC File No. 270-521.

    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.
    Regulation Blackout Trade Restriction (``Regulation BTR'') (17 CFR 
245.100-245.104) clarifies the scope and application of Section 306(a) 
of the Sarbanes-Oxley Act of 2002 (``Act'') (15 U.S.C. 7244(a)). 
Section 306(a)(6) (15 U.S.C. 7244(a)(6)) of the Act requires an issuer 
to provide timely notice to its directors and executive officers and to 
the Commission of the imposition of a blackout period that would 
trigger the statutory trading prohibition of Section 306(a)(1)(15 
U.S.C. 7244(a)(1)). Approximately 1,230 issuers file Regulation BTR 
notices annually. We estimate that it takes 2 hours per response for an 
issuer to draft a notice to directors and executive officers for a 
total annual burden of 2,460 hours. The issuer prepares 75% of the 
2,460 annual burden hours for a total reporting burden of (1,230 x 2 x 
.75) 1,845 hours. In addition, we estimate that an issuer distributes a 
notice to five directors and executive officers at an estimated 5 
minutes per notice (1,230 blackout period x 5 notices x 5 minutes) for 
a total reporting burden of 512 hours. The combined annual reporting 
burden is (1,845 hours + 512 hours) 2,357 hours.
    Written comments are invited on: (a) Whether this collection of 
information is 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 Lewis W. Walker, Acting 
Director/CIO, Securities and Exchange Commission, C/O Shirley 
Martinson, 6432 General Green Way, Alexandria, Virginia 22312; or send 
an e-mail to: PRA_Mailbox@sec.gov.

    Dated: October 22, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-25866 Filed 10-29-08; 8:45 am]

BILLING CODE 8011-01-P