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:
3235-0057
ICR Reference No:
201604-3235-008
Status:
Historical Inactive
Previous ICR Reference No:
201505-3235-017
Agency/Subagency:
SEC
Agency Tracking No:
CF 270-057
Title:
Regulation 14C (Commission Rules 14c-1 through 14c-7 and Schedule 14C)
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:
07/28/2016
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/15/2016
Terms of Clearance:
Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR. The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. The next submission to OMB must include the draft final rule.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
11/30/2018
36 Months From Approved
11/30/2018
Responses
569
0
569
Time Burden (Hours)
55,881
0
55,881
Cost Burden (Dollars)
7,451,624
0
7,451,624
Abstract:
Schedule 14C is filed by issuers of securities that are registered under Section 12 of the Securities Exchange Act of 1934 in connection with a consent solicitation.
Authorizing Statute(s):
US Code:
15 USC 78c(b), 78n, 78w(a), 78mm
Name of Law: Securities Exchange Act of 1934
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 953(a) Name of Law: Dodd-Frank Wall Street Consumer Protection Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AL00
Proposed rulemaking
80 FR 26330
05/07/2015
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 14C (Commission Rules 14c-1 through 14c-7 and Schedule 14C)
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 final rules in Release No. 34-74835 implement the requirements of Section 14(i) of the Securities Exchange Act of 1934, as added by Section 953(a) of the Dodd-Frank Act. The changes in burden of Regulation 14C relate to enhanced disclosure requirements in Regulation S-K relating to executive compensation. These disclosure requirements implement Exchange Act Section 14(i) by requiring issuers to disclose in any proxy or consent solicitation material for an annual meeting of shareholders, in a clear manner, the relationship between executive compensation actually paid and the financial performance of the issuer. The change in burden of Regulation 14C corresponds to the new disclosure requirements. With respect to Regulation 14C and Schedule 14C we estimate an increase of 6,401 burden hours and an increase of $853,500 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]?
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:
Eduardo Aleman 2025513646
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:
04/15/2016
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