[Federal Register Volume 64, Number 46 (Wednesday, March 10, 1999)]
[Notices]
[Page 11976]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-5843]
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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 Filings and Information Services Washington, DC
20549
Extension
Regulation S-X SEC File No. 270-3 OMB Control No. 3235-0009
Notice is hereby given that, pursuant to the Paperwork Reduction
Act 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') has submitted to the Office of Management
and Budget a request for extension of the previously approved
collection of information discussed below.
Information collected and information prepared pursuant to
Regulation S-X focus on the form and content of, and requirements for,
financial statements filed with periodic reports and in connection with
the offer and sale of securities. Investors need reasonably current
financial statements to make informed investment and voting decisions.
The potential respondents include all entities that file
registration statements or reports pursuant to the Securities Act of
1933, the Securities Exchange Act of 1934, the Public Utility Holding
Company Act of 1935, or the Investment Company Act of 1940.
Regulation S-X specifies the form and content of financial
statements when those financial statements are required to be filed by
other rules and forms under the federal securities laws. Compliance
burdens associated with the financial statements are assigned to the
rule or form that directly requires the financial statements to filed,
not Regulation S-X. Instead, an estimated burden of one hour
traditionally has been assigned to Regulation S-X for incidental
reading of the regulation. The estimated average burden hours are
solely for purpose of the Paperwork Reduction Act and are not derived
from a comprehensive or even a representative survey or study of the
costs of SEC rules or forms.
Recordkeeping retention periods are based on the disclosure
required by various forms and rules other than Regulation S-X. In
general, balance sheets for the preceding two fiscal years, income and
cash flow statements for the preceding three fiscal years, and
condensed quarterly financial statements must be filed with the
Commission. Five year summary financial information is required to be
disclosed by some larger registrants.
Filing financial statements, when required by the governing rule or
form, is mandatory. Because these statements are provided for the
purpose of disseminating information to the securities markets, they
are not 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 control number.
General comments regarding the above information should be directed
to the following persons: (i) Desk Officer for the Securities and
Exchange Commission, Office of Information and Regulatory Affairs,
Office of Management and Budget, New Executive Office Building,
Washington, DC 20503; and (ii) Michael E. Bartell, Associate Executive
Director, Office of Information Technology, Securities and Exchange
Commission, 450 Fifth Street, NW, Washington, DC 20549. Comments must
be submitted to OMB within 30 days of this notice.
Dated: March 2, 1999.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-5843 Filed 3-9-99; 8:45 am]
BILLING CODE 8010-01-M
