Tax & Finance

Agency Information Collection Activities; Proposed Collection; Extension: Schedule TO

🇺🇸United States··Notice·Medium Impact·View source ↗

AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.

🇬🇧 English

This notice involves the collection of information concerning Schedule TO, which aims to provide investors with necessary details during tender offers. It requires organizations to disclose specific information, ensuring transparency and informed decision-making. The Securities and Exchange Commission is seeking public comments to assess and potentially extend these data collection requirements.

AI-generated summary. May contain errors. Refer to official sources for legal decisions.

Key Changes

  • Requires disclosure of information during tender offers
  • Seeks public comment for extension of data collection
  • Aims to ensure investor transparency and informed decision-making

Obligations

What this law requires

high

Persons conducting tender offers must disclose information as set forth in Schedule TO (17 CFR 240.14d-100) in connection with that tender offer

Persons conducting tender offers
disclosure
high

Organizations filing Schedule TO must ensure investors have access to information necessary to make informed investment decisions in connection with tender offers

Organizations conducting tender offers
disclosure
high

Any collection of information must display a currently valid OMB control number (OMB Control No. 3235-0515) before conducting or sponsoring the collection

SEC and persons subject to Schedule TO filing requirements
operational
medium

Respondents must provide Schedule TO filings with an estimated burden of 22.38 hours per response and associated cost burdens of approximately $8,949.93 per response

Approximately 259 respondents conducting tender offers
reporting
medium

Written comments on the collection of information must be submitted to Austin Gerig, Director/Chief Data Officer, via email to PaperworkReductionAct@sec.gov by June 15, 2026

Any person wishing to comment on the Schedule TO collection
operational

Affected Parties

Organizations making tender offersInvestors

Tags

finance,investment,regulation