[Federal Register Volume 84, Number 240 (Friday, December 13, 2019)]
[Notices]
[Pages 68235-68236]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-26869]
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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:
Rule 147A(f)(1)(iii) Written Representation as to Purchaser
Residency, SEC File No. 270-806, OMB Control No. 3235-0757.
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'') 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 for extension and approval.
Rule 147A(f)(1)(iii) (17 CFR 230.147A(f)(1)(iii)) requires the
issuer to obtain from the purchaser a written representation as to the
pruchase's residency in order to qualify for safe harbor under
Securities Act Rule 147A (17 CFR 230.147A). Rule 147A is an exemption
from registration under Securities Act Section 28 (15 U.S.C. 77z-3).
Under Rule 147A, 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 147A(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).
Written comments are invited on: (a) Whether this proposed
collection of information is necessary for the
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performance of the functions of the agency, including whether the
information will have practical utility; (b) the accuracy of the
agency's estimate of the burden imposed by 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.
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.
Please direct your written comment to Charles Riddle, Acting
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: December 9. 2019.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2019-26869 Filed 12-12-19; 8:45 am]
BILLING CODE 8011-01-P