Rule 204-3 (17 CFR 275.204-3) under the Investment Advisers Act of 1940

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Rule 204-3 supporting statement.doc	Supporting Statement A	Uploaded 2008-03-14	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
34124	Rule 204-3 (17 CFR 275.204-3) under the Investment Advisers Act of 1940		Modified

ICR Details

OMB Control No: 3235-0047	ICR Reference No: 200803-3235-012
Status: Historical Inactive	Previous ICR Reference No: 200708-3235-014
Agency/Subagency: SEC	Agency Tracking No: 270-42
Title: Rule 204-3 (17 CFR 275.204-3) under the Investment Advisers Act of 1940
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 06/06/2008
	Date Received in OIRA: 03/14/2008
Terms of Clearance: 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.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2011	36 Months From Approved	02/28/2011
Responses	21,681,870	0	21,681,870
Time Burden (Hours)	6,902,278	0	6,902,278
Cost Burden (Dollars)	0	0	0

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Abstract: 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.

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Authorizing Statute(s): US Code: 15 USC 80b Name of Law: Investment Advisers Act of 1940
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AI17	Proposed rulemaking	73 FR 13958	03/14/2008

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
Rule 204-3 (17 CFR 275.204-3) under the Investment Advisers Act of 1940

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Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: 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.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 03/14/2008

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