Rule 433

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Registered Offering Reform.Supporting Statement.Final.pdf	Supporting Statement A	Uploaded 2026-07-20	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
43054	Rule 433		Modified

ICR Details

OMB Control No: 3235-0617	ICR Reference No: 202606-3235-014
Status: Received in OIRA	Previous ICR Reference No: 202312-3235-006
Agency/Subagency: SEC	Agency Tracking No: CF
Title: Rule 433
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 07/22/2026

table that charts list comparision

	Requested	Previously Approved
Expiration Date	36 Months From Approved	01/31/2027
Responses	26,077	20,179
Time Burden (Hours)	63,889	49,391
Cost Burden (Dollars)	9,910,303	7,668,800

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Abstract: Rule 433 (17 CFR 230.433) governs the use and filing of a free writing prospectus with respect to the securities of an issuer that are the subject of a registration statement that has been filed under the Securities Act of 1933. A free writing prospectus that satisfies the conditions pursuant to Rule 433 will be a prospectus under Section 10(b) of the Securities Act and will be deemed to be public without regard to its method of use or distribution. Rule 433 facilitates issuer communications during a registered offering of securities after a registration statement has been filed with the Commission.

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Authorizing Statute(s): US Code: 15 USC 77e, 77g, 77j, 77r Name of Law: Securities Act of 1933
   US Code: 15 USC 77s(a), 77z-3 Name of Law: Securities Act of 1933
   US Code: 15 USC 78l, 78m, 78n, 78o, 78w(a) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78ll, 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-AN41	Proposed rulemaking	91 FR 31022	05/26/2026

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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
Rule 433

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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	26,077	20,179	0	5,898	0	0
Annual Time Burden (Hours)	63,889	49,391	0	14,498	0	0
Annual Cost Burden (Dollars)	9,910,303	7,668,800	0	2,241,503	0	0

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

Burden Increase Due to: Changing Regulations

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

Burden Reduction Due to:

Short Statement: The proposed amendments are intended to facilitate capital formation in the public securities markets consistent with investor protection. The proposed amendments would, among other things, expand the number of issuers eligible to conduct shelf offerings on Form S-3, extend certain benefits currently reserved for WKSIs, modernize Form S-1 by expanding the ability to incorporate information by reference, preempt State securities law registration and qualification requirements for all registered offerings, and modernize certain forms and rules. For purposes of the PRA, the Commission estimates that, for Rule 433, the proposed amendments would result in a net increase of 5,898 responses, a net increase of 14,498 burden hours, and a net increase in the cost burden of $2,241,503.

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Annual Cost to Federal Government:

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: 07/22/2026

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