[Federal Register Volume 87, Number 1 (Monday, January 3, 2022)]
[Notices]
[Page 135]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-28422]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-475, OMB Control No. 3235-0536]


Submission for OMB Review; Comment Request; Extension: Regulation 
FD

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 (``Commission'') has submitted to the Office of Management 
and Budget this request for extension of the previously approved 
collection of information discussed below.
    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 that: (1) When an issuer 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. 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. All information is provided to the public for 
review. The information required is filed on occasion and is mandatory. 
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 
approximately 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 (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).
    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.
    The public may view background documentation for this information 
collection at the following website: www.reginfo.gov. Find this 
particular information collection by selecting ``Currently under 30-day 
Review--Open for Public Comments'' or by using the search function. 
Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to (i) www.reginfo.gov/public/do/PRAMain and (ii) David Bottom, 
Director/Chief Information Officer, Securities and Exchange Commission, 
c/o John Pezzullo, 100 F Street NE, Washington, DC 20549, or by sending 
an email to: [email protected].

    Dated: December 28, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-28422 Filed 12-30-21; 8:45 am]
BILLING CODE 8011-01-P


