[Federal Register Volume 86, Number 226 (Monday, November 29, 2021)]
[Notices]
[Pages 67757-67758]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-25913]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-221, OMB Control No. 3235-0232]


Proposed Collection; Comment Request; Extension: Form 1-E, 
Regulation E

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. 3501 et seq.), the Securities and Exchange Commission 
(the ``Commission'') is soliciting comments on the collection of 
information summarized below. The Commission plans to submit this 
existing collection of information of the Office of Management and 
Budget for extension and approval.
    Form 1-E (17 CFR 239.200) under the Securities Act of 1933 (15 
U.S.C. 77a et seq.) (``Securities Act'') is the form that a small 
business investment company (``SBIC'') or business development company 
(``BDC'') uses to notify the Commission that it is claiming an 
exemption under Regulation E from registering its securities under the

[[Page 67758]]

Securities Act. Rule 605 of Regulation E (17 CFR 230.605) under the 
Securities Act requires an SBIC or BDC claiming such an exemption to 
file an offering circular with the Commission that must also be 
provided to persons to whom an offer is made. Form 1-E requires an 
issuer to provide the names and addresses of the issuer, its 
affiliates, directors, officers, and counsel; a description of events 
which would make the exemption unavailable; the jurisdictions in which 
the issuer intends to offer the securities; information about 
unregistered securities issued or sold by the issuer within one year 
before filing the notification on Form 1-E; information as to whether 
the issuer is presently offering or contemplating offering any other 
securities; and exhibits, including copies of the rule 605 offering 
circular and any underwriting contracts.
    The Commission uses the information provided in the notification on 
Form 1-E and the offering circular to determine whether an offering 
qualifies for the exemption under Regulation E. The Commission 
estimates that, each year, one issuer files one notification on Form 1-
E, together with offering circulars, with the Commission.\1\ Based on 
the Commission's experience with disclosure documents, we estimate that 
the burden from compliance with Form 1-E and the offering circular 
requires approximately 100 hours per filing. The annual burden hours 
for compliance with Form 1-E and the offering circular would be 200 
hours (2 responses x 100 hours per response). Estimates of the burden 
hours are made solely for the purposes of the PRA, and are not derived 
from a comprehensive or even a representative survey or study of the 
costs of SEC rules and forms.
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    \1\ According to Commission records, one issuer filed two 
notifications on Form 1-E, together with offering circulars, during 
2013 and 2014.
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    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 will 
have 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 David Bottom, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o John R. 
Pezzullo, 100 F Street NE, Washington, DC 20549; or send an email to: 
[email protected].

    Dated: November 23, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-25913 Filed 11-26-21; 8:45 am]
BILLING CODE 8011-01-P


