Regulation D Rule 504(b)(3)-Felons and Other Bad Actors Disclosure Statement

Forms and Documents

Document Name	Status
Electronic Data Gathering Analysis and Retrieval System (EDGAR). January 2016.pdf Supplementary Document	2016-12-01
Final Supporting Statement for Final Amendments to Rule 504 (11.28.2016).pdf Supporting Statement A	2016-12-01

IC Document Collections

IC ID	Document Title	Status
221755	Regulation D Rule 504(b)(3)-Felons and Other Bad Actors Disclosure Statement	Modified
221754	Regulation D Rule 504(b)(3)-Felons and Other Bad Actors Disclosure Statement	Modified

ICR Details

OMB Control No: 3235-0746	ICR Reference No: 201612-3235-002
Status: Historical Active	Previous ICR Reference No: 201605-3235-020
Agency/Subagency: SEC	Agency Tracking No: CF-270-798
Title: Regulation D Rule 504(b)(3)-Felons and Other Bad Actors Disclosure Statement
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/02/2017
	Date Received in OIRA: 12/20/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2020	36 Months From Approved
Responses	808	0	0
Time Burden (Hours)	880	0	0
Cost Burden (Dollars)	9,600	0	0

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Abstract: Regulation D Rule 504(b)(3) requires issuers to provide disclosure to purchasers regarding past disqualifying events enumerated in Regulation D Rule 506(d).

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Authorizing Statute(s): US Code: 15 USC 77c(b)(1), 77s, 77z-3 Name of Law: Securities Act of 1933
   US Code: 15 USC 78l, 78m, 78o, 78w(a), 78mm Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 80a-37(a) Name of Law: Investment Company Act of 1940
   US Code: 15 USC 80b-11(a) Name of Law: Investment Advisers Act of 1940
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL80	Final or interim final rulemaking	81 FR 83494	11/21/2016

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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: 2

IC Title	Form No.	Form Name
Regulation D Rule 504(b)(3)-Felons and Other Bad Actors Disclosure Statement
Regulation D Rule 504(b)(3)-Felons and Other Bad Actors Disclosure Statement

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ICR Summary of Burden

	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	808	0	0	808	0	0
Annual Time Burden (Hours)	880	0	0	880	0	0
Annual Cost Burden (Dollars)	9,600	0	0	9,600	0	0

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 burden relates to new Rule 504(b)(3) disclosure requirements intended to inform Rule 504 offering purchasers of any past disqualifying events associated with the issuer and its covered persons. This is a new collection of information, so there is no change in burden.

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Annual Cost to Federal Government: $150,000

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]? 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

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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: 12/20/2016

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