Agency Information Collection Activities Notice: Regulation 14A
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This SEC notice is about extending the information collection requirements under Regulation 14A, which ensures that investors have the necessary information to make informed voting decisions. The regulation affects companies whose securities are registered under the Securities Exchange Act of 1934, requiring them to disclose detailed proxy materials. Companies may need to adjust internal and external resources to comply with reporting and information gathering outlined by Regulation 14A.
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Key Changes
- Extension of Regulation 14A requirements for information collection
- Formalization of proxy material disclosures for registered security holders
- Introduction of comments solicitation process for future adjustments
Obligations
What this law requires
Companies with securities registered under Section 12 of the Securities Exchange Act of 1934 must disseminate, prepare content for, and file proxy or consent solicitation materials (Schedule 14A) in connection with annual or other meetings of security holders
Companies must file Schedule 14A proxy materials annually, with each filing requiring approximately 180.12 hours of preparation time per response
Companies must ensure proxy materials contain information necessary to enable investors to vote in an informed manner, as required by Regulation 14A (17 CFR 240.14a-1 through 14a-21)
Companies must allocate internal resources to complete approximately 75% of the 180.12-hour per-response preparation burden for Schedule 14A filings
Companies must comply with OMB Control No. 3235-0059 requirement and display a currently valid OMB control number on information collection activities