View Information Collection Request (ICR) Package
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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:
3235-0007
ICR Reference No:
201012-3235-020
Status:
Historical Inactive
Previous ICR Reference No:
200710-3235-004
Agency/Subagency:
SEC
Agency Tracking No:
CF-270-1
Title:
Private Transaction - Rule 13e-3 (Schedule 13E-3) under the Securities Exchange Act of 1934
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:
02/16/2011
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/16/2010
Terms of Clearance:
Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). In accordance with 5 CFR 1320, OMB is withholding approval at this time. The agency shall examine public comment in response to the NPRM and will include in the supporting statement of the next ICR--to be submitted to OMB at the final rule stage--a description of how the agency has responded to any public comments on the ICR, including comments on maximizing the practical utility of the collection and minimizing the burden.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
07/31/2011
36 Months From Approved
07/31/2011
Responses
600
0
600
Time Burden (Hours)
20,588
0
20,588
Cost Burden (Dollars)
24,705,000
0
24,705,000
Abstract:
Schedule 13E-3 is filed by issuers of securities registered under Section 12 of the Securities Exchange Act of 1934 in connection with a going private transaction under Section 13(e) of the Securities Exchange Act of 1934 and Rule 13e-3 thereunder.
Authorizing Statute(s):
US Code:
15 USC 77c(a), 77f, 77g, 77j, 77s(a)
Name of Law: Securities Act of 1933
US Code:
15 USC 78m, 78n(a), 78n-1, 78w(a)
Name of Law: Securities Exchange Act of 1934
US Code:
15 USC 78mm
Name of Law: Securities Exchange Act of 1934
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 951 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AK68
Proposed rulemaking
75 FR 66590
10/28/2010
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
Beneficial Ownership, Acquisition, Tender Offer, and Solicitation Records Filed under the Securities Exchange Act of 1934
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:
We anticipate that the amendments will increase the burdens and costs for U.S. companies. The amendments will increase existing burdens by requiring companies to make additional disclosures of the following: the shareholder say-on-pay votes and frequency and the general effect of such votes, such as whether the vote is non-binding; whether and, if so, how companies have taken into account the results of shareholder advisory votes on executive compensation; decision regarding how frequently it will conduct say-on-pay votes in light of the results of the shareholder vote on frequency; and disclosure of golden parachute compensation arrangements in connection with mergers, acquisitions, tender offers and going-private transactions. With respect to reporting companies, portions of the new disclosure will be required in Schedules 14A, 14C, 14D-9, TO and 13E-3. Additional disclosure will also be required in Forms 10, 10-K, 10-Q, S-1, S-4, F-4, S-11 and N-2. With respect to Schedule 13E-3 we estimate an annual increase of 100 burden hours and an increase of $30,000 in costs.
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]?
Yes
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:
Scott Hodgdon 202 551-3273
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:
12/16/2010
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