Document ID: SEC-2008-0215-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2008-02-08T05:00Z

[Federal Register: February 8, 2008 (Volume 73, Number 27)]
[Notices]               
[Page 7614]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr08fe08-102]                         

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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.

New Information Collection:
    Study on the Impact of Companies' Compliance with the 
Requirements Implementing section 404 of the Sarbanes-Oxley Act of 
2002; OMB Control No. 3235-xxxx; SEC File No. 270-575.

    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 
collection of information to the Office of Management and Budget for 
approval.
    The Commission staff plans to undertake a study that will involve 
collecting and analyzing empirical data regarding the impact on public 
companies of compliance with the requirements implementing section 404 
of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7262). The study will 
consider whether recent actions by the Commission and the Public 
Company Accounting Oversight Board are having their intended effect of 
increasing efficiency and lowering compliance costs. Participation in 
the study will be voluntary. Participants in the study are expected to 
include companies subject to the reporting requirements under section 
13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) 
or 15 U.S.C. 78o(d)), as well as financial analysts, auditors, 
investors and other interested parties.
    We plan to invite up to 10,000 respondents to participate in the 
study. If all of these respondents participate in the study at an 
average estimated 1 hour per response, the total annual burden will be 
10,000 hours. In addition, we also plan to conduct a follow-up survey 
and in-depth interviews with up to 500 respondents, at an estimated two 
hours per response, for a total annual burden of approximately 1,000 
hours. Therefore, the total aggregate burden associated with the study 
is an estimated 11,000 hours.
    Written comments are invited on: (a) Whether this proposed 
collection of information is necessary for the 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 comment to R. Corey Booth, Director/
Chief Information Officer, 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.

    February 5, 2008.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8-2345 Filed 2-7-08; 8:45 am]

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