Rule 14f-1 - Change in Majority of Directors

Forms and Documents

Document Name	Status
Rule 14f-1.Supporting Statement.2022.pdf Supporting Statement A	2022-08-22
Rule14f-1.30 Day Federal Register Notice.pdf Supplementary Document	2022-08-23
Rule14f-1.60 Day Federal Register Notice.pdf Supplementary Document	2022-08-22

IC Document Collections

IC ID	Document Title	Status
34366	Rule 14f-1 - Change in Majority of Directors	Modified

ICR Details

OMB Control No: 3235-0108	ICR Reference No: 202208-3235-020
Status: Received in OIRA	Previous ICR Reference No: 201907-3235-006
Agency/Subagency: SEC	Agency Tracking No: CF 270-127
Title: Rule 14f-1 - Change in Majority of Directors
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 08/23/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved	08/31/2022
Responses	30	64
Time Burden (Hours)	540	1,152
Cost Burden (Dollars)	0	0

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Abstract: Rule 14f-1 requires that if, pursuant to any arrangement or understanding with the person or persons acquiring securities in a transaction subject to Section 13(d) or Section 14(d) of the Securities Exchange Act of 1934, any persons are to be elected or designated as directors of the issuer other than at a meeting of shareholders, and the persons so elected or designated will constitute a majority of the directors of the issuer, certain information must be filed with the Commission and transmitted to shareholders.

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Authorizing Statute(s): US Code: 15 USC 78m(d), 78m(e), 78n(d), 78n(f) Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 36353	06/16/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 51470	08/22/2022
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Rule 14f-1 - Change in Majority of Directors

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	30	64	0	0	-34	0
Annual Time Burden (Hours)	540	1,152	0	0	-612	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The decrease of 612 reporting burden hours is due to an adjustment in the number of issuers complying with Rule 14f-1 requirements with the Commission.

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Annual Cost to Federal Government: $125,800,170

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 08/23/2022

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