Proposed Collection; Comment Request; Extension: Interactive Data, 13918 [2025-05274]

Download as PDF lotter on DSK11XQN23PROD with NOTICES1 13918 Federal Register / Vol. 90, No. 58 / Thursday, March 27, 2025 / Notices person accessing the platform to save, download, or otherwise store the information, for a minimum of 21 days before any securities are sold in the offering, during which time the intermediary may accept investment commitments. Rule 303 also requires intermediaries to comply with the requirements related to the maintenance and transmission of funds. An intermediary that is a registered broker is required to comply with the requirements of Rule 15c2–4 of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) (Transmission or Maintenance of Payments Received in Connection with Underwritings).2 An intermediary that is a registered funding portal must direct investors to transmit the money or other consideration directly to a qualified third party that has agreed in writing to hold the funds for the benefit of, and to promptly transmit or return the funds to, the persons entitled thereto in accordance with Regulation Crowdfunding. The rules also require intermediaries to implement and maintain systems to comply with the information disclosure, communication channels, and investor notification requirements. These requirements include providing disclosure about compensation at account opening (Rule 302), obtaining investor acknowledgements to confirm investor qualifications and review of educational materials (Rule 303), providing investor questionnaires (Rule 303), providing communication channels with third parties and among investors (Rule 303), notifying investors of investment commitments (Rule 303), confirming completed transactions (Rule 303) and confirming or reconfirming offering cancellations (Rule 304). The Commission staff estimates that there will be 135 intermediaries engaged in crowdfunding activity and therefore subject to Rules 300–304. The Commission staff estimates the annualized industry burden will be 27,732 hours to comply with Rules 300– 304. The Commission staff further estimates that the costs associated with complying with Rules 300–304 will be a total amount of $16,960,716. Written comments are invited on: (a) whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimates of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity 2 17 CFR 240.15c2–4. VerDate Sep<11>2014 17:43 Mar 26, 2025 Jkt 265001 of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted by May 27, 2025. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. Please direct your written comments to: Austin Gerig, Director/Chief Data Officer, Securities and Exchange Commission, c/o Tanya Ruttenberg, 100 F Street NE, Washington, DC 20549, or send an email to: PaperworkReductionAct@sec.gov. Dated: March 24, 2025. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2025–05264 Filed 3–26–25; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [OMB Control No. 3235–0645] Proposed Collection; Comment Request; Extension: Interactive Data 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. The ‘‘Interactive Data’’ collection of information requires issuers filing registration statements under the Securities Act of 1933 (15 U.S.C. 77a et seq.) (‘‘Securities Act’’) and reports under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’) to submit specified financial information to the Commission in interactive data format using eXtensible Business Reporting Language (XBRL). This collection of information is located primarily in registration statement and report exhibit provisions, which require interactive data, and Rule 405 of Regulation S–T (17 CFR 232.405), which specifies how to submit interactive data. PO 00000 Frm 00067 Fmt 4703 Sfmt 9990 The exhibit provisions are in Item 601(b)(101) of Regulation S–K (17 CFR 229.601(b)(101)), Form F–10 under the Securities Act (17 CFR 239.40), and Forms 20–F, 40–F, and 6–K under the Exchange Act (17 CFR 249.220f, 17 CFR 249.240f, and 17 CFR 249.306). In interactive data format, financial statement information can be downloaded directly into spreedsheets and analyzed in a variety of ways using commercial off-the-shelf software. The specified financial information already is and will continue to be required to be submitted to the Commission in traditional format under existing requirements. The purpose of the interactive data requirements is to make financial information easier for investors to analyze and assist issuers in automating regulatory filings and business information processing. We estimate that 8,218 respondents per year will each submit an average of 4.5 reponses per year for an estimated total of 36,981 responses annually. We further estimate an internal burden of 53.11111 hours per response for a total internal burden of 1,964,102 hours (53.11111 hours per response × 36,981 responses). Written comments are invited on: (a) whether this proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the agency’s estimate of the burden imposed by the collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication by May 27, 2025. 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. Please direct your written comment to Austin Gerig, Director/Chief Data Officer, Securities and Exchange Commission, c/o Tanya Ruttenberg, 100 F Street NE, Washington, DC 20549 or send an email to: PaperworkReductionAct@sec.gov. Dated: March 24, 2025. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2025–05274 Filed 3–26–25; 8:45 am] BILLING CODE 8011–01–P E:\FR\FM\27MRN1.SGM 27MRN1

Agencies

[Federal Register Volume 90, Number 58 (Thursday, March 27, 2025)]
[Notices]
[Page 13918]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-05274]


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SECURITIES AND EXCHANGE COMMISSION

[OMB Control No. 3235-0645]


Proposed Collection; Comment Request; Extension: Interactive Data

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.
    The ``Interactive Data'' collection of information requires issuers 
filing registration statements under the Securities Act of 1933 (15 
U.S.C. 77a et seq.) (``Securities Act'') and reports under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange 
Act'') to submit specified financial information to the Commission in 
interactive data format using eXtensible Business Reporting Language 
(XBRL). This collection of information is located primarily in 
registration statement and report exhibit provisions, which require 
interactive data, and Rule 405 of Regulation S-T (17 CFR 232.405), 
which specifies how to submit interactive data. The exhibit provisions 
are in Item 601(b)(101) of Regulation S-K (17 CFR 229.601(b)(101)), 
Form F-10 under the Securities Act (17 CFR 239.40), and Forms 20-F, 40-
F, and 6-K under the Exchange Act (17 CFR 249.220f, 17 CFR 249.240f, 
and 17 CFR 249.306).
    In interactive data format, financial statement information can be 
downloaded directly into spreedsheets and analyzed in a variety of ways 
using commercial off-the-shelf software. The specified financial 
information already is and will continue to be required to be submitted 
to the Commission in traditional format under existing requirements. 
The purpose of the interactive data requirements is to make financial 
information easier for investors to analyze and assist issuers in 
automating regulatory filings and business information processing. We 
estimate that 8,218 respondents per year will each submit an average of 
4.5 reponses per year for an estimated total of 36,981 responses 
annually. We further estimate an internal burden of 53.11111 hours per 
response for a total internal burden of 1,964,102 hours (53.11111 hours 
per response x 36,981 responses).
    Written comments are invited on: (a) whether this proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information will 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden imposed by the collection of information; (c) ways to 
enhance the quality, utility, and clarity of the information collected; 
and (d) ways to minimize the burden of the collection of information on 
respondents, including through the use of automated collection 
techniques or other forms of information technology. Consideration will 
be given to comments and suggestions submitted in writing within 60 
days of this publication by May 27, 2025.
    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.
    Please direct your written comment to Austin Gerig, Director/Chief 
Data Officer, Securities and Exchange Commission, c/o Tanya Ruttenberg, 
100 F Street NE, Washington, DC 20549 or send an email to: 
[email protected].

    Dated: March 24, 2025.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-05274 Filed 3-26-25; 8:45 am]
BILLING CODE 8011-01-P
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