; (C) regulatory administrative costs; and (D) costs imposed by the regulation on State, local, or tribal governments or other regulatory authorities; (5) if quantified benefits do not outweigh quantitative costs, a justification for the regulation; (6) an identification and assessment of all available alternatives to the regulation, including modification of an existing regulation or statute, together with— (A) an explanation of why the regulation meets the objectives of the regulation more effectively than the alternatives, and if the agency is proposing multiple alternatives, an explanation of why a notice of proposed rulemaking, rather than an advanced notice of proposed rulemaking, is appropriate; and (B) if the regulation is not a pilot program, an explanation of why a pilot program is not appropriate; (7) if the regulation specifies the behavior or manner of compliance, an explanation of why the agency did not instead specify performance objectives; (8) an assessment of how the burden imposed by the regulation will be distributed among market participants, including whether consumers, investors, small businesses, or independent financial firms and advisors will be disproportionately burdened; (9) an assessment of the extent to which the regulation is inconsistent, incompatible, or duplicative with the existing regulations of the agency or those of other domestic and international regulatory authorities with overlapping jurisdiction; (10) a description of any studies, surveys, or other data relied upon in preparing the analysis; (11) an assessment of the degree to which the key assumptions underlying the analysis are subject to uncertainty