Form 10-Q is filed by issuers of
securities to satisfy their quarterly reporting obligations
pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934.
The Commission requests
an emergency extension for the information collections in our
release titled “Smaller Reporting Company Definition” (Rel. No.
33-10513). We were not able to submit PRA packages for the release
proposing these amendments because so many of the forms and rules
were affected by prior adopting releases, for which PRA packages
were pending at OMB. We would like to request expedited 30-day
review for this submission.
The amendments in Release No.
33-10513 expand the number of registrants that qualify as smaller
reporting companies and thereby are eligible to rely on the scaled
disclosure requirements. Under the amended definition, smaller
reporting companies generally include registrants with either (1) a
public float of less than $250 million or (2) revenues of less than
$100 million in the previous year and either no public float or
public float of less than $700 million. The release also revises
Rule 3-05(b)(2)(iv) of Regulation S-X to align the revenue
threshold in that rule with the new revenue threshold in the
definition of smaller reporting company. We anticipate that the
amendments will decrease the burdens and costs for registrants to
prepare and review filings that include scaled disclosure
requirements for smaller reporting companies or for which acquired
companies financial statements are required under Rule
3-05(b)(2)(iv). For purposes of the PRA, we estimate that the
amendments to Form 10-Q will result in a net decrease of
29,621burden hours and a net decrease in the cost burden of
($3,950,554) for the services of outside professionals.
$150,000
No
No
No
No
No
No
Uncollected
Amy Reischauer 202 551-3460
reischauerp@sec.gov
No
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:
(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;
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.
Form SEC-1296 Exchange Act Form 10-Q
SRC Definition PRA Supporting Statement Final.08-16-2018.pdf
Exchange Act Form 10-Q