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

Forms and Documents

Document	Type	Status	Availability
Regulation D Rule 504 (b)(3) Supporting Statement.final.2020.pdf	Supporting Statement A	Uploaded 2020-03-19	Available
Regulation D 504(b)(3).30 Day Federal Register Notice.pdf	Supplementary Document	Uploaded 2020-03-19	Available
Regulation D 504(b)(3). 60 Day Federal Register Notice.pdf	Supplementary Document	Uploaded 2020-03-19	Available
February 5, 2020 EDAGR PIA.pdf	Supplementary Document	Uploaded 2020-03-19	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
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: 202003-3235-014
Status: Historical Active	Previous ICR Reference No: 201612-3235-002
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: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/23/2020
Retrieve Notice of Action (NOA)	Date Received in OIRA: 03/20/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2023	36 Months From Approved	04/30/2020
Responses	808	0	808
Time Burden (Hours)	880	0	880
Cost Burden (Dollars)	9,600	0	9,600

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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
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 149	01/02/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 14264	03/11/2020
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	808	0	0	0	0
Annual Time Burden (Hours)	880	880	0	0	0	0
Annual Cost Burden (Dollars)	9,600	9,600	0	0	0	0

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:

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Annual Cost to Federal Government: $102,000,000

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 03/20/2020

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