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

Forms and Documents

Document Name	Status
Form SEC - 486 Regulation A (Form 1-A): Small Issuer exemption from registration under the Securities Act and its attendant form Form and Instruction	Modified
Regulation A and Form 1-A.Supporting Statement.2024.1.pdf Supporting Statement A	2024-09-20
Regulation A (Form 1-A) 30 Day Federal Register Notice.pdf Supplementary Document	2024-09-17
Regulation A (Form 1-A) 60 Day Federal Register Notice..pdf Supplementary Document	2024-09-17
March 22, 2023 EDGAR PIA.pdf Supplementary Document	2024-09-12

IC Document Collections

IC ID	Document Title	Status
34758	Regulation A (Form 1-A): Small Issuer exemption from registration under the Securities Act and its attendant form Form and Instruction	Modified

ICR Details

OMB Control No: 3235-0286	ICR Reference No: 202409-3235-012
Status: Received in OIRA	Previous ICR Reference No: 202305-3235-013
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: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 09/20/2024

	Requested	Previously Approved
Expiration Date	36 Months From Approved	09/30/2024
Responses	325	205
Time Burden (Hours)	174,859	110,296
Cost Burden (Dollars)	34,971,885	14,798,702

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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 77(b), 77s(a) 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:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 53673	06/27/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 75003	09/13/2024
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
Regulation A (Form 1-A): Small Issuer exemption from registration under the Securities Act and its attendant form	SEC - 486	Form 1-A - Regulation A Offering Statement

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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	325	205	0	0	120	0
Annual Time Burden (Hours)	174,859	110,296	0	0	64,563	0
Annual Cost Burden (Dollars)	34,971,885	14,798,702	0	0	20,173,183	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: This increase of 64,563 reporting burden hours and the increase of $20,173,183 in cost burden is due to adjustments. The increase in both the burden hours and cost burden reflect an increase in number of respondents filing Form 1-A under Regulation A per year from 205 issuers per year to 325 issuers per year. Also, the increase in cost burden is due to a change in how the Commission calculates the burden from using an estimate hourly cost of $400 to $600 for outside legal and accounting services used in connection with public company reporting.

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Annual Cost to Federal Government: $131,724,880

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: 09/20/2024

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