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:
3235-0706
ICR Reference No:
201409-3235-037
Status:
Historical Active
Previous ICR Reference No:
201309-3235-022
Agency/Subagency:
SEC
Agency Tracking No:
CF 270-609
Title:
Form ABS-EE
Type of Information Collection:
New collection (Request for a new OMB Control Number)
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
03/19/2015
Retrieve Notice of Action (NOA)
Date Received in OIRA:
10/22/2014
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
03/31/2018
36 Months From Approved
Responses
13,374
0
0
Time Burden (Hours)
170,089
0
0
Cost Burden (Dollars)
57,459,063
0
0
Abstract:
Form ABS-EE will be filed by asset-backed issuers to provide asset-level information for registered offerings of asset-backed securities at the time of securitization and on an ongoing basis.
Authorizing Statute(s):
US Code:
15 USC 77s(a), 77z-3
Name of Law: Securities Act of 1933
US Code:
15 USC 78l, 78m, 78o, 78w(a)
Name of Law: Securities Exchange Act of 1934
US Code:
15 USC 78ll, 78mm
Name of Law: Securities Exchange Act of 1934
US Code:
15 USC 77e, 77f, 77g, 77h, 77j
Name of Law: Securities Act of 1933
US Code:
15 USC 77sss
Name of Law: Trust Indenture Act of 1939
PL:
Pub.L. 111 - 203 942(b)
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AK37
Final or interim final rulemaking
79 FR 57184
09/24/2014
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
ABS-EE
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
13,374
0
0
13,374
0
0
Annual Time Burden (Hours)
170,089
0
0
170,089
0
0
Annual Cost Burden (Dollars)
57,459,063
0
0
57,459,063
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Changing Regulations
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
In Release No. 33-9638, the Securities and Exchange Commission adopted amendments to several rules and form requirements under the Securities Act of 1933 and the Securities Exchange Act of 1934 relating to asset-backed securities. The new burden of Form ABS-EE is necessary to provide disclosure of asset-level information at the time the asset-backed security is offered and on an ongoing basis. Form ABS-EE will result in 170,089 burden hours and a cost burden of $57,459,063 for services of outside professionals.
Annual Cost to Federal Government:
$200,000
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:
Hughes Bates 202 551-3731
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:
10/22/2014
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