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View ICR - OIRA Conclusion

OMB Control No: 3235-0726	ICR Reference No: 202203-3235-005
Status: Active	Previous ICR Reference No: 201811-3235-006
Agency/Subagency: SEC	Agency Tracking No: TM-270-774
Title: Crowdfunding Rules 300-304 (Intermediaries)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/03/2022
Retrieve Notice of Action (NOA)	Date Received in OIRA: 05/17/2022
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2025	36 Months From Approved	08/31/2022
Responses	10,329	0	468
Time Burden (Hours)	38,317	0	15,621
Cost Burden (Dollars)	18,750,000	0	5,772,304

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion	Change Due to Adjustment in Estimate
Annual Number of Responses	10,329	468	37	9,824
Annual Time Burden (Hours)	38,317	15,621	0	22,696
Annual Cost Burden (Dollars)	18,750,000	5,772,304	0	12,977,696

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: The number of intermediaries registered with the Commission has increased from 52 to 106, with the number of funding portals increasing from 43 to 74 and broker-dealers increasing from 9 to 32. In addition, the Commission staff’s estimate for the number of new funding portals per year has increased from 5 to 25, based on new registrations in the past three years. In addition, based on filings made in the past three years, which record the number of offerings per year increasing by 421 to 450 offerings a year, the Commission staff have updated their estimate of yearly offerings from approximately 480 to 2,300. Because the status quo numbers (the number of currently registered broker-dealers and funding portals) are larger, because the estimated of new funding portals each year has increased, and because the estimated number of yearly offerings has increased, the overall burden is proportionally larger. We put the cost burden formerly in IC4 into a new IC, IC15. .

Annual Cost to Federal Government: $0

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? No

Agency Contact: James Blakemore 202 551-4308