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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:
3235-0645
ICR Reference No:
201906-3235-002
Status:
Historical Active
Previous ICR Reference No:
201903-3235-011
Agency/Subagency:
SEC
Agency Tracking No:
CF 270-330
Title:
Interactive Data
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
08/20/2019
Retrieve Notice of Action (NOA)
Date Received in OIRA:
06/12/2019
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
06/30/2022
36 Months From Approved
06/30/2022
Responses
37,418
0
38,705
Time Burden (Hours)
2,041,693
0
2,167,480
Cost Burden (Dollars)
230,975,700
0
238,809,850
Abstract:
The Interactive Data collection of information requires issuers filing registration statements under the Securities Act of 1933 and reports under the Securities Exchange Act of 1934 to submit specified financial information to the Commission using eXtensible Business Reporting Language("XBRL"). The purpose of the interactive data requirement is to make financial information easier for investors to analyze and assist issuers in automating regulatory filings and business information processing.
Authorizing Statute(s):
US Code:
15 USC 77g, 77j, 77s(a)
Name of Law: Securities Act of 1933
US Code:
15 USC 78c, 78l, 78m, 78o(d), 78w(a)
Name of Law: Securities Exchange Act of 1934
US Code:
15 USC 78ll
Name of Law: Securities Exchange Act of 1934
PL:
Pub.L. 107 - 204 3(a)
Name of Law: Sarbanes-Oxley Act of 2002
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AL59
Final or interim final rulemaking
83 FR 40846
08/16/2018
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
Interactive Data
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
37,418
38,705
0
0
-1,287
0
Annual Time Burden (Hours)
2,041,693
2,167,480
0
-53,715
-72,072
0
Annual Cost Burden (Dollars)
230,975,700
238,809,850
0
106,640
-7,940,790
0
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:
Yes
Burden Reduction Due to:
Changing Regulations
Short Statement:
The amendments adopted in Release No. 33-10514 will require the use of the Inline XBRL format for the currently required exhibit-only submission of operating company financial statement information using the machine-readable (i.e., interactive) eXtensible Business Reporting Language (XBRL) format in Interactive Data Files. These amendments will require operating companies, on a phased in basis, to embed part of the Interactive Data File within an HTML document using Inline XBRL and include the rest in an exhibit to that document. The primary purpose of these amendments is to improve the usefulness and quality of financial statement disclosure, and, over time, to decrease the cost of preparing this information for submission to the Commission. In addition, the amendments eliminated the requirement for operating companies to post Interactive Data Files on their websites. Also, the amendments will make and have made certain other changes not affecting operating companies. For purposes of the PRA’s aggregate average yearly burden, we estimate that the amendments affecting the Interactive Data collection of information will result in a decrease of 53,715 burden hours and an increase of $106,640 in the cost of the services of outside professionals. The lower hourly burden is due to less time being needed to prepare an Interactive Data File in Inline XBRL format than in exhibit-only format and the elimination of the website posting requirement. The higher professional cost burden is due to additional assistance or software needed to prepare an Interactive Data File in Inline XBRL format as compared to exhibit-only format.
Annual Cost to Federal Government:
$100,000
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
No
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
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:
Mark Green 202 942-2910 greenm@sec.gov
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:
06/12/2019
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