Federal Register #OMB Control No. 3235-0515

SEC Requests Public Comment on Extension of Schedule TO Information Collection

The Securities and Exchange Commission (SEC) is inviting public comment on the proposed extension of its Schedule TO information collection requirements. - Government Buyer: - Securities and Exchange Commission (SEC), Office of FOIA Services - Purpose and Scope: - Seeks feedback on the necessity, accuracy, and burden of Schedule TO (17 CFR 240.14d-100) information collection - Schedule TO is used by parties conducting tender offers to disclose material information to investors - Reporting and Cost Burden: - Approximately 259 respondents file Schedule TO about 2.28 times per year - Estimated annual reporting burden: 13,227 hours - Estimated total annual cost: $5,289,409 - No OEMs or vendors are involved, as this is a regulatory information collection notice, not a procurement of products or services - The SEC is specifically seeking suggestions for improving the collection process and reducing burden on respondents

Description

The Securities and Exchange Commission (SEC) is seeking comments on the extension of the existing collection of information related to Schedule TO. Schedule TO requires certain persons conducting tender offers to disclose specific information to ensure investors can make informed decisions. The SEC estimates this collection is filed approximately 2.28 times per year by 259 respondents, with an annual reporting burden of 13,227 hours and a cost burden of over $5 million. This notice invites public comments on the necessity, accuracy, and ways to minimize the burden of this information collection.

View original listing