Agency will resubmit the collection at the final rule stage and provide a summary of comments received on the collection along with a discussion as to whether the agency incorporated the commenter's suggestion, and if not, why not.
Inventory as of this Action
Requested
Previously Approved
12/31/2016
36 Months From Approved
12/31/2016
30
0
30
13,973
0
13,973
1,863,000
0
1,863,000
Regulation A provides an exemption from registration under the Securities Act of 1933 for certain limited securities offerings by issuers who do not otherwise file reports with the Commission. Form 1-A is an offering statement filed under Regulation A.
As explained in further detail in Items 12 and 13 above, the change in burden for Form 1 A corresponds to an estimated increase in the existing paperwork burden of the form under the proposed amendments by requiring additional information in Form 1-A, predominantly with respect to Tier 2 offerings. The approximately 250 issuers relying on proposed Regulation A and filing Form 1-A annually would increase the current paperwork burden under Form 1-A from 18,240 hours to 187,500 hours, an increase of 169,260 hours. The proposed amendments to Regulation A would not change the one administrative burden hour associated with reviewing Regulation A, but the approximately 220 additional issuers relying on Regulation A after the proposed amendments would increase the current annual administrative paperwork burden associated with reviewing Regulation A from 30 hours to 250 hours, an increase of 220 hours. Due to the proposed amendments, there would be increase of 126,840 hours and an increase of $16,912,200 in cost burden.
$100,000
No
No
No
No
No
Uncollected
Shehzad Niazi 202 551-3121
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.
Form SEC - 486 Regulation A (Forms 1-A): Regulation A- Small Issuer exemption from registration under the Securities Act and its attendant forms. Form 1-A-Regulation A offering statement and
Final PRA supporting statement.pdf
Regulation A (Forms 1-A): Regulation A- Small Issuer exemption from registration under the Securities Act and its attendant forms. Form 1-A-Regulation A offering statement and