Regulation C.Supporting Statement.2016

SUPPORTING STATEMENT
FOR THE PAPERWORK REDUCTION ACT INFORMATION COLLECTION
SUBMISSION FOR REGULATION C
A.

JUSTIFICATION
1.

Circumstances Making the Collection of Information Necessary

The rules comprising Regulation C were adopted by the Commission to
standardize the mechanics of registering of securities for sale to the public under the
Securities Act. In addition, these rules were designed to provide more specific
instructions and guidance to persons registering securities (“registrants”) than the
information contained in the statute. For the most part, Regulation C does not specify the
information required to be set forth in a registration statement, but rather describes the
procedures to be followed by registrants in preparing and filing registration statements
with the Commission. Regulation C also contains procedures applicable to the
registration of securities using the Electronic Data Gathering Analysis and Retrieval
(EDGAR) system. The disclosure requirements are described in the appropriate
registration forms or in Regulation S-K – Standard Instructions for filing forms under the
Securities Act of 1933, the Securities Exchange Act of 1934, the Energy Policy and the
Conservation Act of 1975.
2.

Purpose and Use of the Information Collection

Regulation C does not require the reporting of information; rather it describes
procedures to assist in the preparation of registration statement forms. The information
collected is intended to ensure the adequacy of information available to investors in the
registration of securities.
3.

Consideration Given to Information Technology

Registration statements are required to be filed using the Commission’s Electronic
Data Gathering, Analysis and Retrieval (EDGAR) system.
4.

Duplication of Information
There is no other public source for the information.

5.

Reducing the Burden on Small Entities

Regulation C does not directly impose any collection requirements, and therefore
has no effect on small entities in terms of information collection requirements.

2
6.

Consequences of Not Conducting Collection

Regulation C does not directly impose any collection requirements. Regulation C
only describes procedures to assist in the preparation of Securities Act registration forms.
7.

Special Circumstances
Not applicable.

8.

Consultations with Persons Outside the Agency

Regulation C was proposed for public comment. No comments were received
during the 60-day comment period prior to OMB’s review of this submission.
9.

Payment or Gift to Respondents
Not applicable.

10.

Confidentiality
Not applicable.

11.

Sensitive Questions

This collection does not contain any personal identifiable Information (PII). The
Privacy Impact Assessment (PIA) is provided as a supplemental document.
12.

Estimate of Respondent Reporting Burden

Regulation C is assigned one burden hour for administrative convenience because
it does not directly impose any reporting burdens or costs. Our burden hour estimates are
made solely for the purposes of the Paperwork Reduction Act.
13.

Estimate of Total Annualized Cost Burden
Regulation C does not directly imposed any cost.

14.

Costs to Federal Government

Regulation C is self-executing so any staff time associated with it is limited to
interpretation and review. We estimate that the cost associated with the staff’s time is
less than $100,000.

3
15

Reason for Change in Burden
Not applicable.

16.

Information Collection Planned for Statistical Purposes
Not applicable.

17.

Approval to Omit OMB Expiration Date
The Commission is not seeking approval to omit the expiration date.

18.

Exceptions to Certification for Paperwork Reduction Act Submissions
Not applicable.

B.

STATISTICAL METHODS
Not applicable.