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:
3235-0721
ICR Reference No:
201905-3235-004
Status:
Historical Active
Previous ICR Reference No:
201806-3235-020
Agency/Subagency:
SEC
Agency Tracking No:
CF 270-661
Title:
Form 1-SA
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:
07/17/2019
Retrieve Notice of Action (NOA)
Date Received in OIRA:
06/03/2019
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
07/31/2022
36 Months From Approved
10/31/2021
Responses
55
0
55
Time Burden (Hours)
8,791
0
8,763
Cost Burden (Dollars)
618,420
0
618,420
Abstract:
Form 1-SA is used to file semiannual reports by Tier 2 issuers under Regulation A, an exemption from registration under the Securities Act of 1933.
Authorizing Statute(s):
US Code:
15 USC 78mm
Name of Law: Securities Exchange Act of 1934
US Code:
15 USC 80a-8, 80a-24(a), 80a-24(g)
Name of Law: Investment Company Act of 1940
US Code:
15 USC 80a-29, 80a-37
Name of Law: Investment Company Act of 1940
PL:
Pub.L. 114 - 94 72002(2)
Name of Law: Fixing America's Surface Transportation Act
US Code:
15 USC 77g, 77j, 77s(a), 77z-3
Name of Law: Securities Act of 1933
US Code:
15 USC 78c(b), 78l, 78m, 78o, 78w(a)
Name of Law: Securities Exchange Act of 1934
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AL82
Final or interim final rulemaking
83 FR 50148
10/04/2018
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
Form 1-SA
SEC 2914
Form 1-SA
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
55
55
0
0
0
0
Annual Time Burden (Hours)
8,791
8,763
0
28
0
0
Annual Cost Burden (Dollars)
618,420
618,420
0
0
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:
The amendments adopted in Release No. 33-10532 address disclosure requirements that have become redundant, duplicative, overlapping, outdated, or superseded as a result of other Commission disclosure requirements, U.S. Generally Accepted Accounting Principles, International Financial Reporting Standards, or changes in the information environment. The purpose of the rule amendments is to facilitate the disclosure of information to investors, while simplifying and updating disclosure requirements, without significantly altering the total mix of information provided to investors. We anticipate that the amendments will decrease the burdens and costs for registrants to prepare and review filings for many forms and will increase the burden and costs for a limited number of forms. For purposes of the PRA, we estimate that the amendments to Form 1-SA will result in a net increase of 28 burden hours. We have not provided an estimate for professional cost changes because we have assumed that the changes will only impact the internal efforts to respond to the collection of information.
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:
Duc Dang 202 551-3386
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:
06/03/2019
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