Rule 498A (17 CFR 230.498A) under the Securities Act of 1933

Forms and Documents

Document Name	Status
Supporting Statement 498A (2023 RILAs).pdf Supporting Statement A	2023-10-23

IC Document Collections

IC ID	Document Title	Status
234792	Rule 498A (17 CFR 230.498A) under the Securities Act of 1933	Modified

ICR Details

OMB Control No: 3235-0765	ICR Reference No: 202310-3235-017
Status: Received in OIRA	Previous ICR Reference No: 202005-3235-015
Agency/Subagency: SEC	Agency Tracking No: IM-270-813
Title: Rule 498A (17 CFR 230.498A) under the Securities Act of 1933
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 10/23/2023

	Requested	Previously Approved
Expiration Date	36 Months From Approved	11/30/2023
Responses	759	676
Time Burden (Hours)	19,165	14,688
Cost Burden (Dollars)	12,975,120	11,559,420

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Abstract: Rule 498A provides an optional method for satisfying portfolio company prospectus delivery obligations under section 5(b)(2) of the Securities Act of 1933 (15 USC 77e(b)(2)) by making portfolio company summary and statutory prospectuses available online, with certain key information about the portfolio companies provided in the contract’s summary prospectus.

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Authorizing Statute(s): US Code: 15 USC 77a et seq. 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-AN30	Proposed rulemaking	88 FR 71088	10/13/2023

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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

IC Title	Form No.	Form Name
Rule 498A (17 CFR 230.498A) under the Securities Act of 1933

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ICR Summary 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	759	676	0	83	0	0
Annual Time Burden (Hours)	19,165	14,688	0	4,477	0	0
Annual Cost Burden (Dollars)	12,975,120	11,559,420	0	1,415,700	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The estimated aggregate total hour burden for preparing and filing summary prospectuses increased from 14,688 hours to 19,165.14 hours (an increase of 4,477.14 hours). In addition, the external costs increased from $11,559,420 to $12,975,120 (an increase of $1,415,700). The increase in annual burden hours and external costs is due to our proposed amendments to rule 498A, specifically to account for additional requirements for issuers that use rule 498A currently and to add RILAs.

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Annual Cost to Federal Government: $21,200,000

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? 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: 10/23/2023

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