[Federal Register Volume 87, Number 161 (Monday, August 22, 2022)]
[Notices]
[Page 51470]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-17980]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-306, OMB Control No. 3235-0522]


Submission for OMB Review; Comment Request; Extension: Rule 701

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.
    Rule 701(17 CFR 230.701) under the Securities Act of 1933 
(``Securities Act'') (15 U.S.C. 77a et seq.) provides an exemption for 
certain issuers from the registration requirements of the Securities 
Act for limited offerings and sales of securities issued under 
compensatory benefit plans or contracts. The purpose of Rule 701 is to 
ensure that a basic level of information is available to employees and 
others when substantial amounts of securities are issued in 
compensatory arrangements. Information provided under Rule 701 is 
mandatory. We estimate that approximately 800 companies annually rely 
on the Rule 701 exemption and that it takes 2 hours to prepare each 
response. We estimate that 25% of the 2 hours per response (0.5 hours) 
is prepared by the company for a total annual reporting burden of 400 
hours (0.5 hours per response x 800 responses).
    An agency may 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 
by September 21, 2022 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: August 16, 2022.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2022-17980 Filed 8-19-22; 8:45 am]
BILLING CODE 8011-01-P


