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:
3235-0064
ICR Reference No:
201809-3235-009
Status:
Historical Active
Previous ICR Reference No:
201805-3235-025
Agency/Subagency:
SEC
Agency Tracking No:
CF 270-051
Title:
Exchange Act Form 10
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved with change
Conclusion Date:
10/01/2018
Retrieve Notice of Action (NOA)
Date Received in OIRA:
09/17/2018
Terms of Clearance:
The Office of Information and Regulatory Affairs (OIRA) approves this information collection for a period of 3 years based on an understanding that the Securities and Exchange Commission (SEC) will comply with the requirements of the Paperwork Reduction Act (PRA) for all future information collection submissions. In particular, the SEC will submit for OIRA review all new or revised collections associated with a proposed rule at the proposed rule stage of rulemaking. A failure to do so is a violation of the Paperwork Reduction Act (44 USC 3507). In addition, OIRA approves this collection based on an express agreement between OIRA and SEC that the agencies will meet in the near future to discuss a proactive and constructive approach to improving the ICR process and inter-agency communication.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2021
36 Months From Approved
07/31/2021
Responses
216
0
216
Time Burden (Hours)
11,774
0
11,783
Cost Burden (Dollars)
14,128,888
0
14,140,051
Abstract:
Form 10 is filed by issuers of securities to register a class of securities pursuant to Sections 12(b) and 12(g) of the Securities Exchange Act of 1934.
Authorizing Statute(s):
US Code:
15 USC 77g, 77j, 77s
Name of Law: Securities Act of 1933
US Code:
15 USC 78c(b), 78l, 78m, 78o(d)
Name of Law: Securities Exchange Act of 1934
US Code:
15 USC 78w(a)
Name of Law: Securities Exchange Act of 1934
PL:
Pub.L. 114 - 94 72002
Name of Law: Fixing America's Surface Transportation Act of 2015
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AL90
Final or interim final rulemaking
83 FR 31992
07/10/2018
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
81 FR 43130
07/01/2016
30-day Notice:
Federal Register Citation:
Citation Date:
83 FR 31992
07/10/2018
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
Exchange Act Form 10
SEC 1396
Form 10 - General Form For Registration Of Securities
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
216
216
0
0
0
0
Annual Time Burden (Hours)
11,774
11,783
0
-9
0
0
Annual Cost Burden (Dollars)
14,128,888
14,140,051
0
-11,163
0
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 in Release No. 33-10513 expand the number of registrants that qualify as smaller reporting companies and thereby are eligible to rely on the scaled disclosure requirements. Under the amended definition, smaller reporting companies generally include registrants with either (1) a public float of less than $250 million or (2) revenues of less than $100 million in the previous year and either no public float or public float of less than $700 million. The release also revises Rule 3-05(b)(2)(iv) of Regulation S-X to align the revenue threshold in that rule with the new revenue threshold in the definition of smaller reporting company. We anticipate that the amendments will decrease the burdens and costs for registrants to prepare and review filings that include scaled disclosure requirements for smaller reporting companies or for which acquired companies financial statements are required under Rule 3-05(b)(2)(iv). For purposes of the PRA, we estimate that the amendments to Form 10 will result in a net decrease of 9 burden hours and a net decrease in the cost burden of ($11,163) for the services of outside professionals.
Annual Cost to Federal Government:
$150,000
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:
Amy Reischauer 202 551-3460 reischauerp@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:
09/17/2018
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