Regulation D Rule 506(e) Felons and Other Bad Actors Disclosure Statement

ICR 201308-3235-013

OMB: 3235-0704

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2013-08-28
ICR Details
3235-0704 201308-3235-013
Historical Active 201307-3235-006
SEC CF 270-654
Regulation D Rule 506(e) Felons and Other Bad Actors Disclosure Statement
New collection (Request for a new OMB Control Number)   No
Emergency 09/23/2013
Approved without change 09/09/2013
Retrieve Notice of Action (NOA) 09/05/2013
  Inventory as of this Action Requested Previously Approved
03/31/2014 6 Months From Approved
19,908 0 0
22,108 0 0
264,000 0 0

To implement Section 926 of the Dodd-Frank Act, the Commission has adopted new Rule 506(d), which disqualifies certain felons and other bad actors from reliance on Rule 506 of Regulation D under the Securities Act of 1933, and new Rule 506(e), which requires issuers to provide disclosure to purchasers regarding past disqualifying events enumerated in Rule 506(d).
The SEC is requesting emergency processing for the information collection associated with the final rule which was not present at the proposed rule (See citation 76 FR 31518). The disclosure was suggested during the public comment period. The Commission has issued FR notice 78 FR 54690 publihsed 9/5/13 and requests OMB approval.

US Code: 15 USC 77d(a)(2), 77s, 77z-3 Name of Law: Securities Act of 1933
  
PL: Pub.L. 111 - 203 926 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection

3235-AK97 Final or interim final rulemaking 78 FR 44730 07/24/2013

  78 FR 54690 09/05/2013
Yes

  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 19,908 0 19,908 0 0 0
Annual Time Burden (Hours) 22,108 0 22,108 0 0 0
Annual Cost Burden (Dollars) 264,000 0 264,000 0 0 0
No
No
This is a new collection of information, so there is no change in burden.

$100,000
No
No
No
Yes
No
Uncollected
Johanna Losert 202 551-3325

  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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
09/05/2013


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