Rule 104, 17 CFR 242.104 (Stabilizing and other activities in connection with an offering)

ICR 201911-3235-013

OMB: 3235-0465

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2020-04-20
Supplementary Document
2020-04-20
Supporting Statement A
2020-02-05
IC Document Collections
ICR Details
3235-0465 201911-3235-013
Active 201611-3235-051
SEC TM-270-411
Rule 104, 17 CFR 242.104 (Stabilizing and other activities in connection with an offering)
Extension without change of a currently approved collection   No
Regular
Approved without change 06/09/2020
Retrieve Notice of Action (NOA) 04/20/2020
  Inventory as of this Action Requested Previously Approved
06/30/2023 36 Months From Approved 06/30/2020
805 0 848
161 0 170
0 0 0

Rule 104 requires that participants in a distribution collect the required information and provide the required notice regarding stabilizing, syndicate covering transactions, and penalty bids. The proposed amendments would require managing underwriters to identify or designate syndicate covering bids as such wherever communicated and would ban the use of penalty bids. The Commission does not receive this information and only examines it in the event of investigation. Investors, and the market in general, use this information in evaluating the price of the security in distribution.

US Code: 15 USC 78q(h),78w(a),78dd-1,78mm Name of Law: Securities Exchange Act of 1934, Sections 17(h), 23(a), 30A and 36
   US Code: 15 USC 80a-23,80a-29,80a-37 Name of Law: Investment Company Act of 1940, Sections 23, 29 and 37
   US Code: 15 USC 77g,77q(a),77s(a), Name of Law: Securities Act of 1933, Sections7, 17(a) and 19(a)
   US Code: 15 USC 78b,78c,78g(c)(2), 78i(a),78j, Name of Law: Securities Exchange Act of 1934,Sections 2,3, 7(c)(2), 9(a) and 10,
   US Code: 15 USC 78k-1(c),78l,78m,78n,78o(b), Name of Law: Securities Exchange Act of 1934, Sections 11A(c), 12,13,14 and 15(b),
   US Code: 15 USC 78o(b),78o(h),78q(a),78q(b), Name of Law: Securities Exchange Act of 1934, Sections 15(c), 15(h), 17(a) and 17(b)
  
None

Not associated with rulemaking

  85 FR 8074 02/12/2020
85 FR 21899 04/20/2020
No

1
IC Title Form No. Form Name
Rule 104, 17 CFR 242.104 (Stabilizing and other activities in connection with an offering)

  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 805 848 0 0 -43 0
Annual Time Burden (Hours) 161 170 0 0 -9 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The decrease in total burden hours from 170 to 161 hours is due to a decrease in the number of firm commitment offerings from 848 previously to 805 in 2019.

$0
No
    No
    No
No
No
No
No
Patrice Pitts 202 551-2151

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
04/20/2020


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