
[Federal Register Volume 79, Number 164 (Monday, August 25, 2014)]
[Notices]
[Page 50710]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-20086]


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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 FOIA Services, 100 F Street NE., Washington, DC 
20549-2736.

Extension:
    Rule 10b-17; SEC File No. 270-427, OMB Control No. 3235-0476.

    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'') has submitted to the Office of Management 
and Budget (``OMB'') a request for approval of extension of the 
previously approved collection of information provided for in Rule 10b-
17 (17 CFR 240.10b-17), under the Securities Exchange Act of 1934 (15 
U.S.C. 78a et seq.).
    Rule 10b-17 requires any issuer of a class of securities publicly 
traded by the use of any means or instrumentality of interstate 
commerce or of the mails or of any facility of any national securities 
exchange to give notice of the following specific distributions 
relating to such class of securities: (1) A dividend or other 
distribution in cash or in kind other than interest payments on debt 
securities; (2) a stock split or reverse stock split; or (3) a rights 
or other subscription offering. Notice shall be either given to the 
Financial Industry Regulatory Authority, Inc. as successor to the 
National Association of Securities Dealers, Inc. or in accordance with 
the procedures of the national securities exchange upon which the 
securities are registered. The Commission may exempt an issuer of over-
the-counter (but not listed) securities from the notice requirement. 
The requirements of 10b-17 do not apply to redeemable securities of 
registered open-end investment companies or unit investment trusts.
    The information required by Rule 10b-17 is necessary for the 
execution of the Commission's mandate under the Securities Exchange Act 
of 1934 to prevent fraudulent, manipulative, and deceptive acts and 
practices. The Commission has found that not requiring formal notices 
of the types of distributions covered by Rule 10b-17 has led to a 
number of abuses including purchasers not being aware of their rights 
to such distributions. It is only through formal notice of the 
distribution, including the date of the distribution, that current 
holders, potential buyers, or potential sellers of the securities at 
issue will know their rights to the distribution. Therefore, it is only 
through formal notice that investors can make an informed decision as 
to whether to buy or sell a security.
    There are approximately 6,668 respondents per year. These 
respondents make approximately 22,354 responses per year. Each response 
takes approximately 10 minutes to complete. Thus, the total compliance 
burden per year is 3,726 burden hours. The total internal labor cost of 
compliance for the respondents, associated with producing and filing 
the reports, is approximately $254,038.68.
    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 OMB control number.
    The public may view background documentation for this information 
collection at the following Web site: http://www.reginfo.gov. Comments 
should be directed to: (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 by sending an email to: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 100 
F Street, NE., Washington, DC 20549 or by sending an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of 
this notice.

    Dated: August 19, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-20086 Filed 8-22-14; 8:45 am]
BILLING CODE 8011-01-P


