This PDF is the current document as it appeared on Public Inspection on 11/14/2013 at 08:45 am.
Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549-0213.
Extension: Rule 101
SEC File No. 270-408, OMB Control No. 3235-0464.
Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (“PRA”) (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (“Commission”) is soliciting comments on the existing collection of information provided for in Rule 101 of Regulation M (17 CFR 242.101), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). The Commission plans to submit this existing collection of information to the Office of Management and Budget (“OMB”) for extension and approval.
Rule 101—Activities by Distribution Participants—prohibits distribution participants from purchasing activities at specified times during a distribution of securities. Persons otherwise covered by this rule may seek to use several applicable exceptions such as a calculation of the average daily trading volume of the securities in distribution, the maintenance of policies regarding information barriers between their affiliates, and the maintenance of a written policy regarding general compliance with Regulation M for de minimus transactions.
There are approximately 1,762 respondents per year that require an aggregate total of 34,525 hours to comply with this rule. Each respondent makes an estimated 1 annual response. Each response takes on average approximately 19.594 hours to complete. Thus, the total compliance burden per year is 34,525 burden hours. The total estimated internal labor compliance cost for the respondents is approximately $2,175,075.00, resulting in an estimated internal labor cost of compliance for each respondent per response of approximately $1,234.435 (i.e., $2,175,075.00/1,762 responses).
Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission's estimates of the burden of the proposed 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.
An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number.
Please direct your written comments to: Thomas Bayer, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 100 F Street NE., Washington, DC 20549 or send an email to: PRA_Mailbox@sec.gov.Start Signature
Dated: November 8, 2013.
Kevin M. O'Neill,
[FR Doc. 2013-27324 Filed 11-14-13; 8:45 am]
BILLING CODE 8011-01-P