The Securities and Exchange Commission has requested an extension from the Office of Management and Budget for the collection of information via Form 1-Z under the Paperwork Reduction Act. Form 1-Z is used when companies report terminated or completed offerings under Regulation A of the Securities Act, taking around 1.5 hours to prepare per response. Annually, about 51 issuers are estimated to file this form, amounting to a total burden of 77 hours. Public comments on this information collection are invited from December 12, 2024, to January 13, 2025, with details available online or via email.
Simple Explanation
The Securities and Exchange Commission wants to keep using a form called Form 1-Z, which lets companies tell them when they've finished a special kind of money project. They're asking people what they think about this, and it takes about 1.5 hours to fill out each time.