

[Federal Register: December 20, 2005 (Volume 70, Number 243)]
[Notices]               
[Page 75502-75503]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr20de05-86]                         

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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 Filings and Information Services, Washington, DC 
20549.

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'') 
clarifies the scope and application of Section 306(a) of the Sarbanes-
Oxley Act of 2002 (``Act''). Section 306(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). 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

[[Page 75503]]

burden of (1,230 x 2 hrs x .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.
    Written comments regarding the above information should be directed 
to the following persons: (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 send an e-mail to 
David_Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief 

Information Officer, Office of Information Technology, Securities and 
Exchange Commission, 100 F Street, NE., Washington, DC 20549. Comments 
must be submitted to OMB within 30 days of this notice.

    Dated: December 12, 2005.
Jonathan G. Katz,
Secretary.
 [FR Doc. E5-7527 Filed 12-19-05; 8:45 am]

BILLING CODE 8010-01-P
