Submission for OMB Review; Comment Request, 68105 [2020-23747]

Download as PDF Federal Register / Vol. 85, No. 208 / Tuesday, October 27, 2020 / Notices recommendations for the proposed information collection should be sent within 30 days of publication of this notice to (i) MBX.OMB.OIRA.SEC_desk_ officer@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 by sending an email to: PRA_Mailbox@ sec.gov. Dated: October 22, 2020. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–23748 Filed 10–26–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–654, OMB Control No. 3235–0704] 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 jbell on DSKJLSW7X2PROD with NOTICES Extension: Rule 506(e) of Regulation D Felons and Other Bad Actors Disclosure Statement 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 the following request for an extension of the previously approved collection of information discussed below. Regulation 506(e) of Regulation D (17 CFR 230.506(e)) under the Securities Act of 1933 (15 U.S.C. 77a et seq.) requires the issuer to furnish to each purchaser, a reasonable time prior to sale, a description in writing of any matters that would have triggered disqualification under Rule 506(d)(1) of Regulation D, but occurred before September 23, 2013. The disclosure required by Rule 506(e) is not filed with the Commission, but serves as an important investor protection tool to inform investors of an issuer’s and its covered persons, involvement in past ‘‘bad actor’’ disqualifying events such as pre-existing criminal convictions, court injunctions, disciplinary proceedings, and other sanctions enumerated in Rule 506(d). Without the mandatory written statement requirements set forth in Rule 506(e), purchasers may have the impression that all bad actors are disqualified from participation in Rule 506 offerings. VerDate Sep<11>2014 18:26 Oct 26, 2020 Jkt 253001 We estimate there are 19,908 respondents that will conduct a onehour factual inquiry to determine whether the issuer and its covered persons have had pre-existing disqualifying events before September 23, 2013. Of those 19,908 respondents, we estimate that 220 respondents with disqualifying events will spend ten hours to prepare a disclosure statement describing the matters that would have triggered disqualification under 506(d)(1) of Regulation D, except that these disqualifying events occurred before September 23, 2013, the effective date of the Rule 506 amendments. An estimated 2,200 burden hours are attributed to the 220 respondents with disqualifying events in addition to the 19,908 burden hours associated with the one-hour factual inquiry. In sum, the total annual increase in paperwork burden for all affected respondents to comply with the Rule 506(e) disclosure statement is estimated to be approximately 22,108 hours of company personnel time. 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 recommendations for the proposed information collection should be sent within 30 days of publication of this notice to (i) www.reginfo.gov/public/do/ PRAMain and (ii) David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/o Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov. Dated: October 22, 2020. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–23747 Filed 10–26–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. IC–34071; File No. 812–15172] Goldman Sachs (Malaysia) Sdn. Bhd., et al.; Notice of Application and Temporary Order October 22, 2020. Securities and Exchange Commission (‘‘Commission’’) AGENCY: PO 00000 Frm 00073 Fmt 4703 Sfmt 4703 68105 Temporary order and notice of application for a permanent order under section 9(c) of the Investment Company Act of 1940 (‘‘Act’’). ACTION: Applicants have received a temporary order (‘‘Temporary Order’’) exempting them from section 9(a) of the Act, with respect to a guilty plea entered on October 22, 2020 (‘‘Guilty Plea’’), by Goldman Sachs (Malaysia) Sdn. Bhd. (the ‘‘Pleading Entity’’ or ‘‘GS Malaysia’’) in the United States District Court for the Eastern District of New York (the ‘‘District Court’’) in connection with a plea agreement (‘‘Plea Agreement’’) between the Pleading Entity and the United States Department of Justice (‘‘DOJ’’), until the Commission takes final action on an application for a permanent order (the ‘‘Permanent Order,’’ and with the Temporary Order, the ‘‘Orders’’). Applicants also have applied for a Permanent Order. Applicants: GS Malaysia, Goldman Sachs & Co. LLC (‘‘GS&Co.’’), Goldman Sachs Asset Management, L.P. (‘‘GSAM’’), Goldman Sachs Asset Management International (‘‘GSAMI’’) and GS Investment Strategies, LLC (‘‘GSIS’’ and collectively, the ‘‘Applicants’’). FILING DATE: The application was filed on October 22, 2020. HEARING OR NOTIFICATION OF HEARING: An order granting the requested relief will be issued unless the Commission orders a hearing. Interested persons may request a hearing by emailing the Commission’s Secretary at SecretarysOffice@sec.gov and serving applicants with a copy of the request, by email. Hearing requests should be received by the Commission by 5:30 p.m. on November 16, 2020 and should be accompanied by proof of service on the applicants, in the form of an affidavit, or for lawyers, a certificate of service. Pursuant to rule 0–5 under the Act, hearing requests should state the nature of the writer’s interest, any facts bearing upon the desirability of a hearing on the matter, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by emailing the Commission’s Secretary at SecretarysOffice@sec.gov. ADDRESSES: The Commission: Secretarys-Office@sec.gov. Applicants: David A. Markowitz, The Goldman Sachs Group, Inc., david.markowitz@ gs.com. FOR FURTHER INFORMATION CONTACT: Kieran G. Brown, Senior Counsel, at (202) 551–6773 or David J. Marcinkus, Branch Chief, at (202) 551–6821 SUMMARY OF APPLICATION: E:\FR\FM\27OCN1.SGM 27OCN1

Agencies

[Federal Register Volume 85, Number 208 (Tuesday, October 27, 2020)]
[Notices]
[Page 68105]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-23747]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-654, OMB Control No. 3235-0704]


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 506(e) of Regulation D Felons and Other Bad Actors 
Disclosure Statement

    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 the following request for an extension of the previously 
approved collection of information discussed below.
    Regulation 506(e) of Regulation D (17 CFR 230.506(e)) under the 
Securities Act of 1933 (15 U.S.C. 77a et seq.) requires the issuer to 
furnish to each purchaser, a reasonable time prior to sale, a 
description in writing of any matters that would have triggered 
disqualification under Rule 506(d)(1) of Regulation D, but occurred 
before September 23, 2013. The disclosure required by Rule 506(e) is 
not filed with the Commission, but serves as an important investor 
protection tool to inform investors of an issuer's and its covered 
persons, involvement in past ``bad actor'' disqualifying events such as 
pre-existing criminal convictions, court injunctions, disciplinary 
proceedings, and other sanctions enumerated in Rule 506(d). Without the 
mandatory written statement requirements set forth in Rule 506(e), 
purchasers may have the impression that all bad actors are disqualified 
from participation in Rule 506 offerings.
    We estimate there are 19,908 respondents that will conduct a one-
hour factual inquiry to determine whether the issuer and its covered 
persons have had pre-existing disqualifying events before September 23, 
2013. Of those 19,908 respondents, we estimate that 220 respondents 
with disqualifying events will spend ten hours to prepare a disclosure 
statement describing the matters that would have triggered 
disqualification under 506(d)(1) of Regulation D, except that these 
disqualifying events occurred before September 23, 2013, the effective 
date of the Rule 506 amendments. An estimated 2,200 burden hours are 
attributed to the 220 respondents with disqualifying events in addition 
to the 19,908 burden hours associated with the one-hour factual 
inquiry. In sum, the total annual increase in paperwork burden for all 
affected respondents to comply with the Rule 506(e) disclosure 
statement is estimated to be approximately 22,108 hours of company 
personnel time.
    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 recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to (i) www.reginfo.gov/public/do/PRAMain and (ii) David Bottom, 
Director/Chief Information Officer, Securities and Exchange Commission, 
c/o Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or by 
sending an email to: [email protected].

    Dated: October 22, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-23747 Filed 10-26-20; 8:45 am]
BILLING CODE 8011-01-P
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