

[Federal Register: December 21, 2005 (Volume 70, Number 244)]
[Notices]               
[Page 75849-75850]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr21de05-99]                         

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549.

Extension:
    Regulation FD; OMB Control No. 3235-0536; SEC File No. 270-475.

    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 
existing collection of information to the Office of Management Budget 
for extension and approval.
    Regulation FD--Other Disclosure Materials requires public 
disclosure of material information from issuers of publicly traded 
securities so that investors have current information upon which to 
base investment decisions. The purpose of the regulation is to require 
that: (1) When an issuer intentionally discloses material information, 
it do so through public disclosure, not selective disclosure; and (2) 
whenever an issuer learns that it has made a non-intentional material 
selective disclosure, the issuer make prompt public disclosure of that 
information. Regulation FD was adopted due to a concern that the 
practice of selective disclosure leads to a loss of investor confidence 
in the integrity of our capital markets. We estimate that approximately 
13,000 issuers make Regulation FD disclosures approximately five times 
a year for a total of 58,000 submissions annually, not including an 
estimated 7,000 issuers who file Form 8-K to comply with under 
Regulation FD. We estimate that it takes approximately 5 hours per 
response (58,000 x 5 hours) for a total burden of 290,000 hours 
annually. The filer prepares 25% of the 290,000

[[Page 75850]]

annual burden hours for a total of 72,500 burden hours.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information has 
practical utility; (b) the accuracy of the agency's estimate of the 
burden of 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 comments to R. Corey Booth, Director/
Chief Information Officer, Office of Information Technology, Securities 
and Exchange Commission, 100 F Street, NE., Washington, DC 20549.

    Dated: December 12, 2005.
Jonathan G. Katz,
Secretary.
 [FR Doc. E5-7590 Filed 12-20-05; 8:45 am]

BILLING CODE 8010-01-P
