Pursuant to 5
CFR 1320.11(c), OMB files this comment on this information
collection request (ICR). In accordance with 5 CFR 1320, OMB is
withholding approval at this time. The agency shall examine public
comment in response to the NPRM and will include in the supporting
statement of the next ICR--to be submitted to OMB at the final rule
stage--a description of how the agency has responded to any public
comments on the ICR, including comments on maximizing the practical
utility of the collection and minimizing the burden. This action
has no effect on any current approvals.
Inventory as of this Action
Requested
Previously Approved
02/28/2011
36 Months From Approved
02/28/2011
21,681,870
0
21,681,870
6,902,278
0
6,902,278
0
0
0
The rule requires investment advisers
to deliver to their clients a written disclosure statement, or
"brochure," of specified information concerning the background and
business practices of the investment adviser. The rule also
requires an adviser to update the information based on material
events. Investors use the information to determine whether to
retain or continue to employ the investment adviser.
US Code:
15
USC 80b Name of Law: Investment Advisers Act of 1940
The Commission proposed to
amend Part 2 of Form ADV, and related rules, including rule 204-3,
to provide advisory clients with brochure and brochure supplements
that contain clear, current, and more meaningful disclosure in a
narrative, plan English format. This reduction represents a
departure from the original requirements proposed in 2000 which
would have required an ongoing obligation to deliver updates
involving any material information in the brochure or supplement,
not just disciplinary information.
$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Vivian Liu 202 942-0719
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.