The Securities and Exchange Commission is seeking public comments on the continued collection of information via Form T-1, which relates to the Trust Indenture Act of 1939. This form assesses if a corporation is qualified to act as a trustee under an indenture. The Commission estimates each response to Form T-1 requires about 15 hours, with half of that time being an internal burden. Comments are invited on whether the form is necessary, its burden assessments, and potential improvements, and must be submitted by May 12, 2025.
Simple Explanation
The Securities and Exchange Commission wants people to say what they think about a form that checks if companies can be trusted to oversee certain agreements; they think filling out the form takes about 15 hours, and they want ideas on if the form is good, how long it takes, or how to make it better.