The Securities and Exchange Commission (SEC) is seeking public comments on Form T-3, an application used to qualify indentures under the Trust Indenture Act of 1939 for debt securities not registered under the Securities Act of 1933. The SEC is asking for input on whether this information collection is necessary, its usefulness, and how the burden on respondents could be reduced. Form T-3 currently takes about 43 hours to prepare, and the SEC is open to written comments until May 12, 2025. Comments can be sent to Austin Gerig at the SEC, either by mail or email.
Simple Explanation
The SEC wants to know what people think about a form used to help with rules for selling certain kinds of IOUs. They are asking if it's useful and how they can make it easier for everyone to fill out.