Document ID: SEC-2012-0218-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2012-02-07T05:00Z

[Federal Register Volume 77, Number 25 (Tuesday, February 7, 2012)]
[Notices]
[Page 6152]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-2732]

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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 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'') has submitted to the Office of Management and Budget a 
request for extension of the previously approved collection of 
information discussed below.
    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)). The information provided under Regulation BTR is 
mandatory and is available to the public. 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 hrs x 0.75) 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.
    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.
    The public may view the background documentation for this 
information collection at the following Web site, www.reginfo.gov. 
Comments should be directed to: (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 by sending an email to: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 
6432 General Green Way, Alexandria, VA 22312 or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of 
this notice.

    Dated: February 2, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-2732 Filed 2-6-12; 8:45 am]
BILLING CODE 8011-01-P