Rule 173

Forms and Documents

Document Name	Status
PRA supporting statement.Final.pdf Supporting Statement A	2021-02-01

IC Document Collections

IC ID	Document Title	Status
43055	Rule 173	Modified

ICR Details

OMB Control No: 3235-0618	ICR Reference No: 202101-3235-019
Status: Received in OIRA	Previous ICR Reference No: 202010-3235-016
Agency/Subagency: SEC	Agency Tracking No: CF-270-557
Title: Rule 173
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 02/03/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	12/31/2023
Responses	249,083,120	232,448,548
Time Burden (Hours)	4,159,688	3,881,891
Cost Burden (Dollars)	0	0

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Abstract: Rule 173 provides a notice of registration to investors who purchased securities in a registered offering under the Securities Act of 1933.

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Authorizing Statute(s): US Code: 15 USC 77f, 77g, 77h, 77j, 77s, 77z-3 Name of Law: Securities Act of 1933
   US Code: 15 USC 78c, 78d, 78j, 78l, 78m, 78n, Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78q, 78w, 78ll, 78mm Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 80a-6, 80a-8, 80a-20, 80a-23 Name of Law: Investment Company Act of 1940
   US Code: 15 USC 80a-24, 80a-30, 80a-31, 80a-38 Name of Law: Investment Company Act of 1940
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AM31	Final or interim final rulemaking	85 FR 33290	06/06/2020

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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

IC Title	Form No.	Form Name
Rule 173

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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	249,083,120	232,448,548	0	16,634,572	0	0
Annual Time Burden (Hours)	4,159,688	3,881,891	0	277,797	0	0
Annual Cost Burden (Dollars)	0	0	0	0	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 amendments in Release No. 33-10771 (IC-33836) will modify the registration, communications, and offering processes for registered closed-end funds and business development companies. The amendments to Rule 173 entail burdens for Affected Funds that elect to rely on Rule 172 to satisfy final prospectus delivery obligations, subject to certain conditions. Such funds may incur additional costs due to the requirement to provide the notice that Rule 173 requires to investors (stating that a sale of securities was made based on a registration statement or in a transaction in which a final prospectus would have been required to have been delivered in the absence of rule 172). For purposes of the PRA, we estimate that the amendments to Rule 173 will result in a net increase of 277,797 internal burden hours due to the increase in the number of issuers expected to provide the information required under Rule 173. We estimate no change to the external cost burden.

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Annual Cost to Federal Government: $103,479,690

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: 02/03/2021

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