[Federal Register Volume 85, Number 48 (Wednesday, March 11, 2020)]
[Notices]
[Page 14257]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-04948]


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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 147(f)(1)(iii) Written Representation as to Purchaser 
Residency, SEC File No. 270-805, OMB Control No. 3235-0756

    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 147 is a safe harbor under the Securities Act Section 
3(a)(11)(15 U.S.C. 77c(a)(11)) exemption from registration. To qualify 
for the safe harbor, Rule 147(f)(1)(iii) (17 CFR 230.147) will require 
the issuer to obtain from the purchaser a written representation as to 
the purchaser's residency. Under Rule 147, the purchaser in the 
offering must be a resident of the same state or territory in which the 
issuer is a resident. While the formal representation of residency by 
itself is not sufficient to establish a reasonable belief that such 
purchasers are in-state residents, the representation requirement, 
together with the reasonable belief standard, may result in better 
compliance with the rule and maintaining appropriate investor 
protections. The representation of residency is not provided to the 
Commission. Approximately 700 respondents provide the information 
required by Rule 147(f)(1)(iii) at an estimated 2.75 hours per response 
for a total annual reporting burden of 1,925 hours (2.75 hours x 700 
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 the background documentation for this 
information collection at the following website, 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: 
Lindsay.M.Abate@omb.eop.gov; and (ii) David Bottom, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Cynthia 
Roscoe, 100 F Street NE, Washington, DC 20549 or send an email to: 
PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: March 6, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-04948 Filed 3-10-20; 8:45 am]
 BILLING CODE 8011-01-P


