Regulation A (Form 1-A): Small Issuer exemption from registration under the Securities Act and its attendant form.

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form SEC - 486 Form 1-A	Form and Instruction	Modified	Repair queued
MDA Proposal - Supporting Statement.Final.pdf	Supporting Statement A	Uploaded 2021-10-18	Missing upstream
February 5, 2020 EDAGR PIA.pdf	Supplementary Document	Uploaded 2021-09-28	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
34758	Form 1-A	Form and Instruction	Modified

ICR Details

OMB Control No: 3235-0286	ICR Reference No: 202109-3235-018
Status: Received in OIRA	Previous ICR Reference No: 202107-3235-005
Agency/Subagency: SEC	Agency Tracking No: CF 270-110
Title: Regulation A (Form 1-A): Small Issuer exemption from registration under the Securities Act and its attendant form.
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 11/15/2021

table that charts list comparision

	Requested	Previously Approved
Expiration Date	36 Months From Approved	09/30/2024
Responses	205	205
Time Burden (Hours)	111,869	111,885
Cost Burden (Dollars)	15,008,502	15,010,502

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Abstract: Regulation A provides an exemption from registration under the Securities Act of 1933 for certain limited securities offerings by issuers who do not otherwise file reports with the Commission. Form 1-A is an offering statement filed under Regulation A.

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Authorizing Statute(s): US Code: 15 USC 77g, 77j, 77s(a), 77z-3 Name of Law: Securities Act of 1933
   US Code: 15 USC 78c(b), 78l, 78m, 78n, 78w(a) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 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:
3235-AM48	Proposed rulemaking	85 FR 12068	02/28/2020

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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
Form 1-A	SEC - 486	Form 1-A - Regulation A Offering Statement

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ICR Summary of Burden

table that charts list of burden

	Total Request	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	205	205	0	0	0	0
Annual Time Burden (Hours)	111,869	111,885	0	-16	0	0
Annual Cost Burden (Dollars)	15,008,502	15,010,502	0	-2,000	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: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: The proposals are intended to modernize, simplify and enhance certain financial disclosure requirements. The proposals are also intended to eliminate duplicative disclosures and modernize and enhance MD&A disclosure for the benefit of investors, while simplifying compliance efforts for registrants. We anticipate that the proposals would, in the aggregate, reduce the burdens and costs to registrants associated with compliance with the federal securities disclosure regime. These estimated burden and cost reductions are expected to result primarily from proposals to streamline the requirement for MD&A. For purposes of the PRA, we estimate that the proposals to Form 1-A will result in a net decrease of 16 burden hours and a net decrease in the cost burden of $2,000 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.     Yes

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: 11/15/2021

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