Regulation 14C (Commission Rules 14c-1 through 14c-7 and Schedule 14C)

Forms and Documents

Document Name	Status
Supporting Statement PVP proposing.Final.pdf Supporting Statement A	2016-04-12
secsorn8.pdf Supplementary Document	2016-04-07
EDGAR PIA_Redacted.pdf Supplementary Document	2016-04-07

IC Document Collections

IC ID	Document Title	Status
34157	Regulation 14C (Commission Rules 14c-1 through 14c-7 and Schedule 14C)	Modified

ICR Details

OMB Control No: 3235-0057	ICR Reference No: 201604-3235-008
Status: Historical Inactive	Previous ICR Reference No: 201505-3235-017
Agency/Subagency: SEC	Agency Tracking No: CF 270-057
Title: Regulation 14C (Commission Rules 14c-1 through 14c-7 and Schedule 14C)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 07/28/2016
	Date Received in OIRA: 04/15/2016
Terms of Clearance: Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR. The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. The next submission to OMB must include the draft final rule.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2018	36 Months From Approved	11/30/2018
Responses	569	0	569
Time Burden (Hours)	55,881	0	55,881
Cost Burden (Dollars)	7,451,624	0	7,451,624

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Abstract: Schedule 14C is filed by issuers of securities that are registered under Section 12 of the Securities Exchange Act of 1934 in connection with a consent solicitation.

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Authorizing Statute(s): US Code: 15 USC 78c(b), 78n, 78w(a), 78mm Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 953(a) Name of Law: Dodd-Frank Wall Street Consumer Protection Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL00	Proposed rulemaking	80 FR 26330	05/07/2015

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Regulation 14C (Commission Rules 14c-1 through 14c-7 and Schedule 14C)

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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: As explained in further detail in Items 12 and 13 above, the final rules in Release No. 34-74835 implement the requirements of Section 14(i) of the Securities Exchange Act of 1934, as added by Section 953(a) of the Dodd-Frank Act. The changes in burden of Regulation 14C relate to enhanced disclosure requirements in Regulation S-K relating to executive compensation. These disclosure requirements implement Exchange Act Section 14(i) by requiring issuers to disclose in any proxy or consent solicitation material for an annual meeting of shareholders, in a clear manner, the relationship between executive compensation actually paid and the financial performance of the issuer. The change in burden of Regulation 14C corresponds to the new disclosure requirements. With respect to Regulation 14C and Schedule 14C we estimate an increase of 6,401 burden hours and an increase of $853,500 in cost burden.

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Annual Cost to Federal Government: $100,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? 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]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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: 04/15/2016

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