Form F-X.SS.2018

Form F-X.SS.2018.pdf

Form F-X

OMB: 3235-0379

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SUPPORTING STATEMENT FOR THE PAPERWORK REDUCTION ACT
INFORMATION COLLECTION SUBMISSION FOR REGISTRATION FORM F-X

A.

JUSTIFICATION
1.

Circumstances Making the Collection of Information Necessary

Form F-X is used for the appointment of an agent for service of process by
eligible Canadian issuers registering securities on Forms F-8, F-10, F-80 under the
Securities Act; registering securities on Form 40-F under the Exchange Act; or filing
periodic reports on Form 40-F under the Exchange Act. It is also used by any person
filing tender offer documents on Schedules 13E-4F, 14D-1F or 14D-9F under the
Exchange Act and by any non-U.S. person acting as trustee with respect to securities
registered on Forms F-7, F-8, F-10 or F-80. In addition, Form F-X is used by a Canadian
issuer qualifying an offering statement pursuant to Regulation A and by any non-issuer
providing Form CB in connection with a tender offer, rights offering or business
combination.
2.

Purpose and Use of the Information Collection

Form F-X provides investors with information about the U.S. person who has
been appointed agent upon whom may be served any process, pleadings, subpoenas or
other papers in certain civil suits brought against the filer of the Form, or in any
investigation or administrative providing conducted by the Commission.
3.

Consideration Given to Information Technology
Form F-X is filed electronically on the EDGAR system.

4.

Duplication of Information

Form F-X is a document designed to provide investors in certain Canadian
securities with information concerning the U.S. person designated as an agent for service
of process. The Form also serves as consent to service of an administrative subpoena and
includes an undertaking to assist the Commission in administrative investigations. This
information is only available through this Form.
5.

Reducing the Burden on Small Entities

As noted above, certain Canadian issuers are required to Form F-X. Any nonU.S. person acting as a trustee with respect to securities registered on Forms F-7, F-8,
F-10 or F-80 must also must also filed Form F-X. All issuers filing Form F-X should
have the resources available to prepare the necessary information for the Commission.
The Form does not unduly burden small entities.

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6.

Consequences of Not Conducting Collection

If the information required in Form F-X was not available, U.S. investors may
find it difficult to effectuate service of process, and the Commission may find it difficult
to require certain Canadian issuers to assist the Commission with administrative
investigations. Also, persons considering investment in securities issued by Canadian
companies would find it more difficult and expensive to obtain the necessary information
if the specified persons were not required to file this information with the Commission
7.

Special Circumstances
Not applicable.

8.

Consultations with Persons Outside the Agency

No comments were received during the 60-day comment period prior to OMB’s
review of this submission.
9.

Payment or Gift to Respondents
Not applicable.

10.

Confidentiality
Form F-X is a public document.

11.

Sensitive Questions

No information of a sensitive nature, including social security numbers, will be
required under this collection of information. The information collection collects basic
Personally Identifiable Information (PII) that may include signature of the official signing
on behalf of the entity. However, the agency has determined that the information
collection does not constitute a system of record for purposes of the Privacy Act.
Information is not retrieved by a personal identifier. In accordance with Section 208 of
the E-Government Act of 2002, the agency has conducted a Privacy Impact Assessment
(PIA) of the EDGAR system, in connection with this collection of information. The
EDGAR PIA, published on January 29, 2016, is provided as a supplemental document
and is also available at https://www.sec.gov/privacy.

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12.

Estimate of Respondent Reporting Burden

We estimate Form F-X takes approximately two hours to prepare and is filed by
approximately 114 Canadian issuers for a total of 228 burden hours (2 hours per response
x 114 responses). We derived our burden hour estimates by estimating the average
number of hours it would take a Canadian issuer to compile the necessary information
and data, prepare and review disclosure, file documents and retain records. We believe
that the actual burdens will likely vary among individual issuers based on the nature of
their operations. The burden estimate for the hours is made solely for the purpose of the
Paperwork Reduction Act.
13.

Estimate of Total Annualized Cost Burden

We estimate that there is no cost associated with this information collection
because 100% of the burden is prepared by the Canadian issuer.
14.

Costs to Federal Government

Regarding the costs to the federal government, we estimate that the Commission’s
costs associated with the multijurisdictional registration system are approximately
$10,000.
15.

Reason for Change in Burden

The decrease of 104 burden hours is due to an adjustment to the number of Forms
F-X filed with the Commission.
16.

Information Collection Planned for Statistical Purposes
Not applicable.

17.

Approval to Omit OMB Expiration Date

We request authorization to omit the expiration date on the electronic version of
the form. Including the expiration date on the electronic version of the form will result in
increased costs because the need to make changes to the form may not follow the
application’s scheduled version release dates. The OMB control number will be
displayed.
18.

Exceptions to Certification for Paperwork Reduction Act Submissions
Not applicable.

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B.

STATISTICAL METHODS
Not applicable.


File Typeapplication/pdf
File Title__SUPPORTING STATEMENT FOR
AuthorU.S.
File Modified2018-06-22
File Created2018-06-22

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