Rule 14f-1 - Change in Majority of Directors

Forms and Documents

Document Name	Status
Rule 14f-1.Supporting Statement.2016.pdf Supporting Statement A	2016-05-17
EDGAR PIA_Redacted.pdf Supplementary Document	2016-05-16

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: 201605-3235-007
Status: Historical Active	Previous ICR Reference No: 201303-3235-004
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
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/12/2016
	Date Received in OIRA: 05/24/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2019	36 Months From Approved	07/31/2016
Responses	64	0	172
Time Burden (Hours)	1,152	0	3,096
Cost Burden (Dollars)	0	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:
	81 FR 8571	02/22/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 31993	05/20/2016
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 Approved	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	64	172	0	0	-108	0
Annual Time Burden (Hours)	1,152	3,096	0	0	-1,944	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 in burden of 1,944 hours is due to an adjustment. The decrease in burden hours reflects a decrease in the number of respondents providing the required information under Rule 14f-1.

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Annual Cost to Federal Government: $1,000

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

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? 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? Uncollected

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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: 05/24/2016

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