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Upon Written Request, Copies Available From:
Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549-2736
Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501et seq.
), the Securities and Exchange Commission (“Commission”) has submitted to the Office of Management and Budget this request for extension of the previously approved collection of information discussed below. The Commission also is requesting approval from OMB to designate this existing collection of information (OMB Control No. 3235-0059) as a “common form” for purposes of PRA submissions [1]
because the Board of Governors of the Federal Reserve System uses this information collection (under OMB Control No. 7100-0091).
Regulation 14A (17 CFR 240.14a-1 through 14a-21) and Schedule 14A (17 CFR 240.14a-101) set forth the requirements for the dissemination, content, and filing of proxy or consent solicitation materials in connection with annual or other meetings of holders of a class of securities registered pursuant to Section 12 of the Securities Exchange Act of 1934. Those rules and schedule are intended to ensure that investors have the information necessary to enable them to vote in an informed manner. The information required by Schedule 14A is mandatory, and Schedule 14A filings are publicly available on the Commission's Electronic Data Gathering, Analysis, and Retrieval (“EDGAR”) system. We estimate that Schedule 14A takes approximately 180.12 hours per response and is filed once per year by approximately 6,043 respondents, for a total of approximately 6,043 responses annually. We estimate that 75% of the 180.12 hours per response is carried internally by the respondent for annual reporting burden of 816,349 hours ((75% × 180.12 hours per response) × 6,043 responses). We estimate that 25% of the 180.12 hours per response is carried externally by outside professionals retained by the respondent at an estimated rate of $600 per hour for a total annual cost burden of $163,269,774 ((25% × 180.12 hours per response) × $600 per hour × 6,043 responses).
An agency may conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid control number.
1.
See
ROCIS PRA Module User Guide v.8.2, at 110-111 (Mar. 2024), available at
https://www.rocis.gov/rocis/viewResources.do
(“A `common form' is an information collection that can be used by two or more agencies, or government-wide, for the same purpose. The Common Forms Module [in ROCIS] allows a `host' agency to obtain [OMB] approval of an information collection for use by one or more `using' agencies. After OMB grants approval, any prospective using agency that seeks to collect identical information for the same purpose can obtain approval to use the `common form' by providing its agency-specific information to OMB (
e.g.,
burden estimates and number of respondents). . . . The host agency will indicate in the
Federal Register
notices that it is requesting approval of a common form and, if known, identify other agencies that may use the information collection. Both the
Federal Register
notices and the ICR should account only for the burden imposed by the host agency's use of the common form. Once the host agency has received approval from OMB, any agency will be able to request OMB approval for its use of the common form in ROCIS by providing its agency specific information to OMB (
e.g.,
burden estimates and number of respondents). Additional public notice by those agencies will not be required.”).