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.
Inventory as of this Action
Requested
Previously Approved
07/31/2022
36 Months From Approved
07/31/2022
64
0
64
12,214
0
12,214
14,925,768
0
14,925,768
Form S-11 is the registration form
used to register securities issued in real estate investment trusts
or by issuers whose business is primarily that of acquiring and
holding investment interests in real estate under the Securities
Act of 1933.
The proposed rule amendments
would modernize and simplify the description of business (Item
101), legal proceedings (Item 103), and risk factor disclosures
(Item 105) that registrants are required to make pursuant to
Regulation S-K. The primary effects of the proposed amendments
would be to: (1) increase the flexibility for an entity when
providing disclosure regarding its business, including its general
business development, so that it can tailor its disclosure to its
particular circumstances; (2) eliminate or reduce disclosure about
matters that are not material to an understanding of the business
or to an entity’s legal proceedings; and (3) encourage risk factor
disclosure that is shorter and concerns only material risks. As a
result of these effects, we expect that the impact of the rule
proposal would be a modest reduction in the paperwork burden of
affected entities. For purposes of the PRA, we estimate that, for
Form S-11, the proposed amendments would result in a reduction of
48 burden hours and a reduction in the cost burden of $57,600 for
the services of outside professionals.
$103,479,690
No
No
No
No
No
No
No
Elliot Staffin 202
551-3243
No
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:
(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;
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.