SEC seeks comment on extending Rule 433 free-writing prospectus data collection
Issuers filing free-writing prospectuses under Rule 433 must respond to the extended information collection; comments due by Oct. 23, 2026.
The Securities and Exchange Commission issued a 60-day notice, FR Doc No. 2026-17223, dated August 20, 2026, announcing its intent to submit the existing Rule 433 information collection to the Office of Management and Budget for extension. The notice, bearing OMB Control No. 3235-0617, invites written comments through October 23, 2026.
Rule 433 (17 CFR 230.433) governs the use and filing of free-writing prospectuses for securities covered by a registration statement filed under the Securities Act of 1933. A prospectus that meets Rule 433 criteria is treated as a public prospectus under Section 10(b) of the Securities Act, facilitating issuer communications during a registered offering.
The Commission estimates approximately 20,179 free-writing prospectus filings per year, each requiring about 2.45 burden hours, for a total annual reporting burden of 49,439 hours. It also estimates a cost burden of $380.03 per response, resulting in an annual cost of $7,668,625.
Comments should address the necessity, utility, accuracy of the burden estimate, and ways to improve or reduce the collection burden, including the use of automated techniques. Written comments are to be directed to Austin Gerig, Director/Chief Data Officer, SEC, c/o Tanya Ruttenberg via email to [email protected].
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