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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3235-0286
ICR Reference No:
201407-3235-017
Status:
Historical Inactive
Previous ICR Reference No:
201309-3235-012
Agency/Subagency:
SEC
Agency Tracking No:
CF 270-110
Title:
Regulation A (Forms 1-A): Regulation A - Small Issuer exemption from registration under the Securities Act and its attendant form.
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Comment filed on proposed rule and continue
Conclusion Date:
10/14/2014
Retrieve Notice of Action (NOA)
Date Received in OIRA:
08/28/2014
Terms of Clearance:
Agency will resubmit the collection at the final rule stage and provide a summary of comments received on the collection along with a discussion as to whether the agency incorporated the commenter's suggestion, and if not, why not.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
12/31/2016
36 Months From Approved
12/31/2016
Responses
30
0
30
Time Burden (Hours)
13,973
0
13,973
Cost Burden (Dollars)
1,863,000
0
1,863,000
Abstract:
Regulation A provides an exemption from registration under the Securities Act of 1933 for certain limited securities offerings by issuers who do not otherwise file reports with the Commission. Form 1-A is an offering statement filed under Regulation A.
Authorizing Statute(s):
US Code:
15 USC 77c,77s,77z-3
Name of Law: Securities Act of 1933
Citations for New Statutory Requirements:
PL: Pub.L. 112 - 106 401 Name of Law: Jumpstart Our Business Startups Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AL39
Proposed rulemaking
79 FR 3925
01/23/2014
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Regulation A (Forms 1-A): Regulation A- Small Issuer exemption from registration under the Securities Act and its attendant forms. Form 1-A-Regulation A offering statement and
SEC - 486
Form 1-A - Regulation A Offering Statement
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
As explained in further detail in Items 12 and 13 above, the change in burden for Form 1 A corresponds to an estimated increase in the existing paperwork burden of the form under the proposed amendments by requiring additional information in Form 1-A, predominantly with respect to Tier 2 offerings. The approximately 250 issuers relying on proposed Regulation A and filing Form 1-A annually would increase the current paperwork burden under Form 1-A from 18,240 hours to 187,500 hours, an increase of 169,260 hours. The proposed amendments to Regulation A would not change the one administrative burden hour associated with reviewing Regulation A, but the approximately 220 additional issuers relying on Regulation A after the proposed amendments would increase the current annual administrative paperwork burden associated with reviewing Regulation A from 30 hours to 250 hours, an increase of 220 hours. Due to the proposed amendments, there would be increase of 126,840 hours and an increase of $16,912,200 in cost burden.
Annual Cost to Federal Government:
$100,000
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Shehzad Niazi 202 551-3121
Common Form ICR:
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:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(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;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
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.
Certification Date:
08/28/2014
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