The Securities and Exchange Commission (SEC) has requested an extension from the Office of Management and Budget (OMB) to continue collecting information through Form N-14 under the Paperwork Reduction Act. Form N-14 is used by investment companies and business development companies for registering securities during certain business transactions. The SEC estimates that about 253 filings are made each year, with considerable internal efforts and costs involved in preparing these forms. Amendments to Form N-14 aim to reduce the burden and costs for certain companies by allowing them to incorporate information by reference. Public comments on this information collection are encouraged and can be submitted within 30 days.
Simple Explanation
The Securities and Exchange Commission (SEC) wants to keep using a special form to help companies share important information when they are working with new partners or getting bigger. They're asking for public thoughts on how this form can be better and easier for companies to fill out.