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OMB Control No: 3235-0690	ICR Reference No: 201911-3235-032
Status: Historical Active	Previous ICR Reference No: 201805-3235-043
Agency/Subagency: SEC	Agency Tracking No: CF 270-638
Title: Form SF-3
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: 01/14/2020
	Date Received in OIRA: 12/06/2019
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2021	36 Months From Approved	07/31/2021
Responses	71	0	71
Time Burden (Hours)	24,552	0	24,548
Cost Burden (Dollars)	29,463,225	0	29,457,900

Abstract: Form SF-3 is a registration statement for shelf issuers of asset-backed securities.

Authorizing Statute(s): US Code: 15 USC 78c(b), 78l, 78m, 78n, 78o Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78p, 78w(a), 78mm Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 77g, 77j, 77s(a), 77z-3 Name of Law: Securities Act of 1933

Citations for New Statutory Requirements: None

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AM00	Final or interim final rulemaking	84 FR 12674	04/02/2019

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 SF-3	SEC 2909

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	71	71	0
Annual Time Burden (Hours)	24,552	24,548	4
Annual Cost Burden (Dollars)	29,463,225	29,457,900	5,325

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 in Release No. 33-10618 modernize and simplify certain disclosure requirements in Regulation S-K, while continuing to provide all material information to investors. The amendments are also intended to improve the readability and navigability of disclosure documents and discourage repetition and disclosure of immaterial information. We anticipate that the amendments will, in the aggregate, reduce the burdens and costs to registrants associated with compliance with the federal securities disclosure regime. These estimated burden and cost reductions are expected to result primarily from amendments to the Commission’s disclosure requirements that allow registrants, in some circumstances, to eliminate the earliest year of the MD&A discussion; permit registrants, in certain circumstances, to omit, without a confidential treatment request, schedules and attachments that are not material and confidential information in material contracts exhibits that is both (i) not material and (ii) would likely cause competitive harm to the registrant if publicly disclosed; and simplify and modernize executive officer, Section 16(a) compliance and corporate governance disclosure requirements. For purposes of the PRA, we estimate that the amendments to Form SF-3 will result in a net increase of 4 burden hours and a net increase in the cost burden of $5,325 for the services of outside professionals.

Annual Cost to Federal Government: $102,000,000

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: Dan Greenspan 202 551-3623

View ICR - OIRA Conclusion