[Federal Register Volume 86, Number 203 (Monday, October 25, 2021)]
[Notices]
[Pages 58961-58962]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-23157]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; 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:
    Form N-5
    SEC File No. 270-172, OMB Control No. 3235-0169

    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 to the Office of 
Management and Budget (``OMB'') for extension and approval.
    Form N-5 (17 CFR 239.24 and 274.5) is the form used by small 
business investment companies (``SBICs'') to register their securities 
under the Securities Act of 1933 (15 U.S.C. 77a et seq.) (``Securities 
Act'') and the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) 
(``Investment Company Act''). Form N-5 is the registration statement 
form adopted by the Commission for use by an SBIC that has been 
licensed as such under the Small Business Investment Act of 1958 or 
which has received the preliminary approval of the Small Business 
Administration (``SBA'') and has been notified by the SBA that the 
company may submit a license application Form N-5 is an integrated 
registration form and may be used as the registration statement under 
both the Securities Act and the Investment Company Act. The purpose of 
Form N-5 is to meet the filing and disclosure requirements of both the 
Securities Act and Investment Company Act, and to provide investors 
with information sufficient to evaluate an investment in an SBIC. The 
information that is required to be filed with the Commission permits 
verification of compliance with securities law requirements and assures 
the public availability and dissemination of the information.
    The Commission did not receive any filings on Form N 5 in the last 
three years (and in the three years before that, received only one Form 
N-5 filing). Nevertheless, for purposes of this PRA, we conservatively 
estimate that at least one Form N-5 will be filed in the next three 
years, which translates to about 0.333 filings on Form N 5 per year. 
The currently approved internal burden of Form N 5 is 352 hours per 
response. We continue to believe this estimate for Form N- 5's internal 
hour burden is appropriate. Therefore, the number of currently approved 
aggregate burden hours, when calculated using the current estimate for 
number of filings, is about 117 internal hours per year. The currently 
approved external cost burden of Form N-5 is $10,100 per filing. The 
requested external cost burden for filing one Form N-5 would be $12,524 
per year. This estimated burden is based on the estimated wage rate of 
$496/hour, for 25.25 hours, for outside legal services to complete the 
form and provide the required hyperlinks.
    Estimates of average burden hours and costs are made solely for the 
purposes of the Paperwork Reduction Act, and are not derived from a 
comprehensive or even representative survey or study of the costs of 
Commission rules and forms. Compliance with the collection of 
information requirements of Form N-5 is mandatory. Responses to the 
collection of information will not be kept confidential. 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.
    Written comments are invited on: (a) Whether the collection of 
information is necessary for the proper performance of the functions of 
the Commission, including whether the information has practical 
utility; (b) the accuracy of the Commission'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.

[[Page 58962]]

    Please direct your written comments to 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: 
[email protected].

    Dated: October 19, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-23157 Filed 10-22-21; 8:45 am]
BILLING CODE 8011-01-P


