SEC Proposes Extending Use of Form 8-A Registration
Published Date: 3/10/2025
Notice
Summary
The SEC wants to keep using Form 8-A, which companies file to register certain types of stocks on national exchanges. This form mainly affects companies with lots of investors or assets over $10 million, and it helps them follow the rules without extra paperwork. The SEC is asking for public feedback before extending approval, with no new costs or big changes planned.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Who Must File Form 8-A
If a company has more than $10 million in total assets and, on the last day of its fiscal year, a class of equity securities is held of record by either 2,000 persons or 500 persons who are not accredited investors, the company must register that class under Section 12(g) within 120 days after its fiscal year end using Form 8-A. Banks and bank holding companies must register within 120 days after the last day of their first fiscal year ended after the JOBS Act effective date if they have more than $10 million in assets and the class is held of record by 2,000 or more persons.
Estimated Filing Time and Burden
The SEC estimates that completing Form 8-A takes about 3 hours per response, with an average of approximately 1,052 responses each year. That yields an internal burden of about 3,156 hours annually (3 hours × 1,052 responses), and the Commission states 100% of that time is prepared by the issuer.
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