Form 1-E-Notification Under Regulation E; Rule 604-Filing or Notification on Form 1-E; Rule 605-Filing and Use of the Offering Circular

Forms and Documents

Document Name	Status
Form SEC 1807 (8-01) Form 1-E-Notification Under Regulation E; Rule 604-Filing or Notification on Form 1-E; Rule 605-Filing and Use of the Offering Circular Form and Instruction	Modified
Form 1-E Supporting Statement FINAL.pdf Supporting Statement A	2018-10-05

IC Document Collections

IC ID	Document Title	Status
34641	Form 1-E-Notification Under Regulation E; Rule 604-Filing or Notification on Form 1-E; Rule 605-Filing and Use of the Offering Circular Form and Instruction	Modified

ICR Details

OMB Control No: 3235-0232	ICR Reference No: 201805-3235-009
Status: Active	Previous ICR Reference No: 201502-3235-007
Agency/Subagency: SEC	Agency Tracking No: IM-270-221
Title: Form 1-E-Notification Under Regulation E; Rule 604-Filing or Notification on Form 1-E; Rule 605-Filing and Use of the Offering Circular
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/11/2019
	Date Received in OIRA: 10/05/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2022	36 Months From Approved	02/28/2019
Responses	2	0	1
Time Burden (Hours)	200	0	100
Cost Burden (Dollars)	100,000	0	50,000

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Abstract: Regulation E is a series of rules that provides specific exemptions from the registration provisions of the Securities Act for SBICs and investment companies that elect to be treated as business development companies ("BDCs"). Companies wishing to obtain the exemption must notify the Commission of their interest in claiming the exemption by filing a notification on Form 1-E.

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Authorizing Statute(s): US Code: 15 USC 77c(b) and (c) 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:
	83 FR 22555	05/15/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 35304	07/25/2018
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
Form 1-E-Notification Under Regulation E; Rule 604-Filing or Notification on Form 1-E; Rule 605-Filing and Use of the Offering Circular	SEC 1807 (8-01)	Form 1-E

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ICR Summary of Burden

	Total Approved	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	2	1	0	0	1	0
Annual Time Burden (Hours)	200	100	0	0	100	0
Annual Cost Burden (Dollars)	100,000	50,000	0	0	50,000	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: In the last PRA submission, the Commission estimated one response to the collection of information annually. Based on this estimate, the Commission determined a total annual reporting burden of 100 hours. Currently, the Commission estimates that, each year, one issuer files two notifications, together with offering circulars, on Form 1-E with the Commission. As discussed above, the Commission estimates that the new annual reporting burden estimate would be 200 hours per year, an increase of 100 hours. The increase of 100 internal hours is based on a changed estimate of the number of filings issuers make on Form 1-E (from one filing to two filings). The Commission previously estimated that the current annual cost burden to be $50,000, which is adjusted to a new estimate of $100,000. The change of $50,000 in the annual cost burden is based on an increased estimate of the number of filings issuers make on Form 1-E (from two filings to one filing).

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Annual Cost to Federal Government: $20,000,000

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.     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.     Yes

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? Uncollected

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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: 10/05/2018

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