The Securities and Exchange
Commission is submitting this request for approval to increase the
burden hours and non-labor cost estimate associated with the
mandatory collection of information under rule 204-2 under the
Investment Advisers Act of 1940, 17 CFR 275.204-2, OMB control
number 3235-0278. There are two reasons for the estimated increase
in burden hours from the current approved total burden of 1,954,109
to 2,106,046 hours: (1) 148,543 additional hours represents an
increased hours burden due to there simply being more registrants
subject to the burden since the burden was last approved; (2) 3,394
additional hours represents the new burden hours associated with
our recent amendments to rule 204-2. The revised average burden per
Commission-registered adviser would be 181.45 hours. Similarly,
there are two reasons for the increase in the non-labor cost
estimate of $13,551,390 to $34,661,509: (1) just as we estimate the
hour burden will increase from 1,954,109 to 2,102,652 due to the
increase in registrants subject to the burden since the burden was
last approved, we also estimate there would be a proportional
increase in the non-labor cost estimate from $13,551,390 to
$14,581,509; and (2) in connection with the rule amendments, we
expect firms will incur a one-time cost of approximately
$20,080,000 to establish or enhance current systems.
$0
No
No
No
Uncollected
No
Uncollected
Melissa Roverts
2025516722
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.