Exchange Act Form 10

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form SEC 1396 Form 10 - General Form For Registration Of Securities	Form and Instruction	Modified	Available
Rule 3-5 Proposing Release-PRA Supporting Statement.Final.04-15-2020.pdf	Supporting Statement A	Uploaded 2020-04-15	Available
February 5, 2020 EDAGR PIA.pdf	Supplementary Document	Uploaded 2020-04-13	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
34221	Exchange Act Form 10	Form and Instruction	Modified	Form 10 - General Form For Registration Of Securities

ICR Details

OMB Control No: 3235-0064	ICR Reference No: 202004-3235-011
Status: Historical Inactive	Previous ICR Reference No: 201911-3235-021
Agency/Subagency: SEC	Agency Tracking No: CF 270-051
Title: Exchange Act Form 10
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: 05/21/2020
Retrieve Notice of Action (NOA)	Date Received in OIRA: 04/16/2020
Terms of Clearance: OMB files this comment in accordance with 5 CFR 1320.11(c). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. 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.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2022	36 Months From Approved	10/31/2022
Responses	216	0	216
Time Burden (Hours)	11,855	0	11,855
Cost Burden (Dollars)	14,091,488	0	14,091,488

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Abstract: Form 10 is filed by issuers of securities to register a class of securities pursuant to Sections 12(b) and 12(g) of the Securities Exchange Act of 1934.

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Authorizing Statute(s): US Code: 15 USC 78c(b), 78l, 78m, 78o(d) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78w(a), 78mm Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 77c, 77f, 77g, 77h, 77j, Name of Law: Securities Act of 1933
   US Code: 15 USC 77s(a), 77z-3 Name of Law: Securities Act of 1933
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL77	Proposed rulemaking	84 FR 24600	05/28/2019

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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

table that charts list of burden

IC Title	Form No.	Form Name
Exchange Act Form 10	SEC 1396	Form 10 - General Form For Registration Of Securities

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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: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: The proposed amendments to Rule 3-05 and related amendments (e.g., to Rule 1-02(w)), among other things, would reduce a registrant’s paperwork burden by: revising the significance tests and thresholds provided in Rule 1-02(w) and Rule 3-05 to improve their application and to assist registrants in making more meaningful significance determinations; revising the scaling requirements to reduce from three to two the maximum number of years of required Rule 3-05 Financial Statements; permitting Rule 3-05 Financial Statements to be prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS-IASB”) in appropriate circumstances, thus permitting registrants to reconcile their financial statements to the basis of accounting they are already using and not requiring additional one-time reconciliations to U.S. GAAP; permitting the omission of Rule 3-05 Financial Statements from Securities Act registration statements and proxy statements once the acquired business is reflected in filed post-acquisition audited financial statements of the registrant for a complete fiscal year; and permitting registrants to use pro forma financial information for significance testing under appropriate circumstances, thereby simplifying the application of the rules and more accurately determining the significance of an acquired business. The proposed amendments related to Rule 3-14, among other things, would align the requirements under Rules 3-05 and 3-14 where appropriate; clarify the determination of significance and the definition of “real estate operation” under Rule 3-14; establish an explicit requirement for interim income statements; and provide special provisions for blind pool offerings. As a result of these effects, we expect that the impact of the rule proposal would be a reduction in the paperwork burden of affected entities. For purposes of the PRA, we estimate that, for Form 10, the proposed amendments would result in a reduction of 500 burden hours and a reduction in the cost burden of $600,000 for the services of outside professionals.

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Annual Cost to Federal Government: $103,479,690

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? No

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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: 04/16/2020

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