Notice2025-11864
Proposed Collection; Comment Request; Extension: Form 1-SA
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
June 27, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 122 (Friday, June 27, 2025)</title>
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[Federal Register Volume 90, Number 122 (Friday, June 27, 2025)]
[Notices]
[Page 27737]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-11864]
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SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0721]
Proposed Collection; Comment Request; Extension: Form 1-SA
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') is soliciting comments on the collection of
information summarized below. The Commission plans to submit this
existing collection of information to the Office of Management and
Budget for extension and approval.
Form 1-SA (17 CFR 239.92) is used to file semiannual reports by
Tier 2 issuers under Regulation A, an exemption from registration under
the Securities Act of 1933 (15 U.S.C. 77a et seq.). Tier 2 issuers
under Regulation A conducting offerings of up to $75 million within a
12-month period are required to file Form 1-SA. Form 1-SA provides
semiannual, interim financial statements and information about the
issuer's liquidity, capital resources and operations after the issuer's
second fiscal quarter. The purpose of the Form 1-SA is to better inform
the public about companies that have conducted Tier 2 offerings under
Regulation A. We estimate that approximately 464 issuers file Form 1-SA
annually. We estimate that Form 1-SA takes approximately 188.04 hours
to prepare. We estimate that 85% of the 188.04 hours per response
(159.834 hours) is carried internally by the issuer for a total annual
burden of 74,163 hours (159.834 hours per response x 464 responses). We
estimate that 15% of the approximately 188.04 hours per response
(28.206 hours) is carried by outside professionals retained by the
issuer to assist in the preparation of the form, at an estimated cost
of $600 per hour, for a total annual cost burden of $7,852,550 (28.206
hours per response x $600 per hour x 464 responses annually).
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid OMB Control Number.
Written comments are invited on: (a) whether this proposed
collection of information is necessary for the proper performance of
the functions of the SEC, including whether the information will have
practical utility; (b) the accuracy of the SEC's estimate of the burden
imposed by the proposed collection of information, including the
validity of the methodology and the assumptions used; (c) ways to
enhance the quality, utility, and clarity of the information to be
collected; and (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated,
electronic collection techniques or other forms of information
technology.
Please direct your written comments on this 60-Day Collection
Notice to Austin Gerig, Director/Chief Data Officer, Securities and
Exchange Commission, c/o Tanya Ruttenberg via email to
<a href="/cdn-cgi/l/email-protection#80d0e1f0e5f2f7eff2ebd2e5e4f5e3f4e9efeec1e3f4c0f3e5e3aee7eff6"><span class="__cf_email__" data-cfemail="297948594c5b5e465b427b4c4d5c4a5d404647684a5d695a4c4a074e465f">[email protected]</span></a> by August 26, 2025. There will be a
second opportunity to comment on this SEC request following the Federal
Register publishing a 30-Day Submission Notice.
Dated: June 24, 2025.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-11864 Filed 6-26-25; 8:45 am]
BILLING CODE 8011-01-P
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