SEC Eyes Extension for Quick-Stock Form S-3 Filings
Published Date: 9/29/2025
Notice
Summary
The SEC wants to keep using Form S-3, a quick way for companies to register their securities for public sale. About 1,467 companies file this form yearly, spending lots of time and money—mostly on outside experts. The SEC is asking for public feedback on this process before extending its approval, so everyone’s voice can help make it better and easier.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Big Time and Cost Burden for Issuers
If your company files Form S-3, the SEC estimates each filing takes about 458.87 hours and about 1,467 issuers file once per year. The SEC estimates issuers carry 25% of that time internally (168,291 hours total) and pay outside professionals for the other 75% at $600 per hour, producing an estimated annual external cost burden of $302,923,031.
Opportunity to Comment by Nov 28, 2025
The SEC is asking for public written comments on the Form S-3 information collection and its burden, and those comments must be sent by November 28, 2025. The agency asks for feedback on the need for the collection, burden estimates, ways to improve the information, and ways to reduce burden, and says there will be a second chance to comment after a 30-Day Submission Notice.
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