60 Day Notice

Federal Register / Vol. 86, No. 203 / Monday, October 25, 2021 / Notices
Temporary Order
The Commission has considered the
matter and finds that Applicants have
made the necessary showing to justify
granting a temporary exemption.
Accordingly,
It is hereby ordered, pursuant to
section 9(c) of the Act, that the Covered
Persons are granted a temporary
exemption from the provisions of
section 9(a), effective as the date of the
Guilty Plea, solely with respect to the
Guilty Plea entered into pursuant to the
Plea Agreement, subject to the
representations and conditions in the
application, until the Commission takes
final action on their application for a
permanent order.
By the Commission.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–23166 Filed 10–22–21; 8:45 am]
BILLING CODE 8011–01–P

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

jspears on DSK121TN23PROD with NOTICES1

Extension:
Regulation R, Rule 701; SEC File No. 270–
562, OMB Control No. 3235–0624

Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the existing collection of information
provided for in Regulation R, Rule 701
(17 CFR 247.701) under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.). The Commission plans to submit
this existing collection of information to
the Office of Management and Budget
(‘‘OMB’’) for extension and approval.
Regulation R, Rule 701 requires a
broker or dealer (as part of a written
agreement between the bank and the
broker or dealer) to notify the bank if the
broker or dealer makes certain
determinations regarding the financial
status of the customer, a bank
employee’s statutory disqualification
status, and compliance with suitability
or sophistication standards.
The Commission estimates there are
3,560 registered brokers or dealers that
would, on average, notify 1,000 banks
approximately two times annually about
a determination regarding a customer’s
high net worth or institutional status or

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suitability or sophistication standing as
well as a bank employee’s statutory
disqualification status. Based on these
estimates, the Commission anticipates
that Regulation R, Rule 701 would result
in brokers or dealers making
approximately 2,000 notifications to
banks per year. The Commission further
estimates (based on the level of
difficulty and complexity of the
applicable activities) that a broker or
dealer would spend approximately 15
minutes per notice to a bank. Therefore,
the estimated total annual third party
disclosure burden for the requirements
in Regulation R, Rule 701 is 500 1 hours
for brokers or dealers.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimates of the burden of the proposed
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.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
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: PRA_
Mailbox@sec.gov.
Dated: October 19, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–23159 Filed 10–22–21; 8:45 am]
BILLING CODE 8011–01–P

1 1,000 banks × 2 notices = 2,000 notices; (2,000
notices × 15 minutes) = 30,000 minutes/60 minutes
= 500 hours.

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SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–662, OMB Control No.
3235–0720]

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:
Form 1–K

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.
Form 1–K (17 CFR 239.91) is used to
file annual reports by Tier 2 issuers
under Regulation A, an exemption from
registration under the Securities Act of
1933 (15 U.S.C. 77a et seq.). Tier 2
issuers under Regulation A conducting
offerings of up to $50 million within a
12-month period are required to file
Form 1–K. Form 1–K provides audited
year-end financial statements and
information about the issuer’s business
operation, ownership, management,
liquidity, capital resources and
operations on an annual basis. In
addition, Part I of the Form 1–K collects
information on any offerings under
Regulation A that have been terminated
or completed unless it has been
previous reported on Form 1–Z. The
purpose of the Form 1–K is to better
inform the public about companies that
have conducted Tier 2 offerings under
Regulation A. We estimate that
approximately 36 issuers file Form 1–K
annually. We estimate that Form 1–K
takes approximately 600 hours to
prepare. We estimate that 75% of the
600 hours per response (450 hours) is
prepared by the company for a total
annual burden of 16,200 hours (450.0
hours per response × 36 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

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