
[Federal Register Volume 77, Number 71 (Thursday, April 12, 2012)]
[Notices]
[Page 22005]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-8795]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

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 and 
Budget for extension and approval.
    Regulation FD (17 CFR 243.100 et seq.)--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: (1) An issuer that intentionally discloses material 
information, to do so through public disclosure, not selective 
disclosure; and (2) to make prompt public disclosure of material 
information that was unintentionally selectively disclosed. 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 Regulation FD. We estimate that it takes 5 hours per 
response (58,000 responses x 5 hours) for a total burden of 290,000 
hours annually. In addition, we estimate that 25% of the 5 hours per 
response (1.25 hours) is prepared by the filer for an annual reporting 
burden of 72,500 hours (1.25 hours per response x 58,000 responses).
    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 imposed by 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 Thomas Bayer, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312; or 
send an email to: PRA_Mailbox@sec.gov.

    Dated: April 6, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-8795 Filed 4-11-12; 8:45 am]
BILLING CODE 8011-01-P


