Document ID: SEC-2021-1408-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2021-10-12T04:00Z

[Federal Register Volume 86, Number 194 (Tuesday, October 12, 2021)]
[Notices]
[Pages 56745-56746]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-22136]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. CF 270-291, OMB Control No. 3235-0328]

Proposed Collection; 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:
    Form ID

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501 et seq.) (the ``Paperwork Reduction Act''), 
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 revisions.
    Form ID (OMB Control No. 3235-0328) must be completed and filed 
with the Commission by all individuals, companies, and other 
organizations who seek access to file electronically on the 
Commission's Electronic Data Gathering, Analysis, and Retrieval system 
(``EDGAR''). Those seeking access to file on EDGAR typically include 
those who are required to make certain disclosures pursuant to the 
federal securities laws. The information provided on Form ID is an 
essential part of the security of EDGAR. Form ID is not a public 
document because it is used solely for the purpose of screening 
applicants and granting access to EDGAR. Form ID must be submitted 
whenever an applicant seeks an EDGAR identification number (Central 
Index Key or CIK) and/or access codes to file on EDGAR. The Commission 
may consider potential technical changes to the EDGAR filer access and 
filer account management processes (``potential access changes'') that 
include the addition of individual user account credentials as well as 
a filer management tool on EDGAR through which filers would manage 
their EDGAR accounts. If the potential access changes are implemented, 
the Commission anticipates that it would adopt amendments to certain 
Commission rules and forms to reflect the potential access changes, 
including Form ID. The potential access changes would include a filer 
designating on Form ID which of its users would act as filer 
administrator(s) to manage the filer's EDGAR account, analogous to the 
contact person listed on Form ID who currently receives access codes. 
The potential access changes would also include additional data fields 
on Form ID related to authorized individuals.\1\
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    \1\ An ``authorized individual'' for purposes of Form ID 
notarization process includes, for example, the Chief Executive 
Officer, Chief Financial Officer, partner, corporate secretary, 
officer, director, or treasurer of a company filer; or for 
individual filers, the individual filer or a person with a power of 
attorney from the individual filer. See EDGAR Filer Manual, Volume 
I, at Section 3.
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    Separately, the Commission may consider potential amendments to 
Form ID that would result in a more uniform and secure process for 
EDGAR access by requiring applicants that already have a CIK and no 
longer have access to EDGAR to apply for access by submitting a new 
Form ID, rather than by submitting a manual passphrase update request, 
as they do currently.\2\ As part of their Form ID application, such 
applicants would continue to provide additional documentation as 
currently required by the EDGAR Filer Manual for manual passphrase 
update requests.\3\
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    \2\ The manual passphrase update request is submitted by filers 
who do not possess access codes for their existing EDGAR accounts 
when the contact email address on their existing account is not 
accurate. (If the contact email address were accurate, they would be 
able to receive a security token to allow them to regain access 
without engaging in the manual passphrase update request process.)
    \3\ See EDGAR Filer Manual, Volume I, at Section 4. See also 
Adoption of Updated EDGAR Filer Manual, Release No. 33-10948 (Jun. 
21, 2021) [86 FR 40308 (Jul. 28, 2021)].
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    For purposes of the Paperwork Reduction Act, we currently estimate 
that there are 48,493 Form ID filings annually and that it takes 
approximately 0.15 hours per response to prepare for a total of 7,274 
annual burden hours. The current burden includes the number of Form ID 
filings for filers without CIKs (48,089 filings) and filers with CIKs 
who have not filed

[[Page 56746]]

electronically on EDGAR (404 filings).\4\ Filers are responsible for 
100% of the total burden hours.
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    \4\ 48,089 filings for users without CIKs + 404 filings for 
filers with CIKs who have not yet filed electronically on EDGAR = 
48,493 filings.
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    If the potential access changes and potential Form ID amendments 
become effective, for purposes of the Paperwork Reduction Act, we 
estimate that the number of Form ID filings would increase 
approximately by 7,284 annually \5\ and that the number of hours to 
prepare Form ID would increase by 0.15 hours. The current approved 
estimate of the annual number of Form ID filings for filers without 
CIKs (48,089 filings) and filers with CIKs who have not filed 
electronically on EDGAR (404 filings) would stay the same.
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    \5\ We base this estimate on the average annual number of 
filings from filers with CIKs who submitted manual passphrase update 
requests for the past three federal fiscal years. ((7,004 filings 
per year + 6,871 filings per year + 7,978 filings per year)/3 years) 
= average of 7,284 filings per year.
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    Thus, for purposes of the Paperwork Reduction Act, the estimated 
total number of annual Form ID filings would increase from 48,493 
filings to 55,777 filings.\6\ The estimate of 0.15 hours per response 
would increase to 0.30 hours per response. The estimated total annual 
burden would increase from 7,274 hours to 16,734 hours.\7\ The estimate 
includes the number of filers without CIKs, filers with CIKs who have 
not filed electronically on EDGAR, and filers with CIKs who are seeking 
to reaccess EDGAR. The estimate that the filers are responsible for 
100% of the total burden hours would stay the same.
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    \6\ 48,493 filings + 7,284 filings = 55,777 filings.
    \7\ 55,777 filings x 0.30 hours/filing = 16,734 hours (rounded 
up).
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    In relation to the potential access changes described above, the 
Commission may consider amending Form ID to make technical 
modifications and clarifications. We do not believe that these 
technical modifications and clarifications to Form ID would make any 
substantive modifications to any existing collection of information 
requirements or impose any new substantive recordkeeping or information 
collection requirements within the meaning of the Paperwork Reduction 
Act.
    The estimate of average burden hours is made solely for the 
purposes of the Paperwork Reduction Act. The estimate is not derived 
from a comprehensive or representative survey or study of the costs of 
Commission rules. Complying with this collection of information 
requirement is necessary to obtain the benefit of relying on Form ID. 
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 are invited on: (i) Whether this proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information will 
have practical utility; (ii) the accuracy of the agency's estimate of 
the burden imposed by the collection of information; (iii) ways to 
enhance the quality, utility, and clarity of the information collected; 
and (iv) 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 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: 
[email protected].

    Dated: October 6, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-22136 Filed 10-8-21; 8:45 am]
BILLING CODE 8011-01-P