Rule 206(4)-3 imposes restrictions on
cash payments for client solicitations and imposes certain
disclosure requirements. The information is necessary to inform
advisory clients about the nature of a solicitor's financial
interest in a recommendation so clients may consider the
solicitor's potential bias.
US Code:
15
USC 80b-6 Name of Law: Investment Advisers Act of 1940
The increases of 583 responses
and 516 hours are due to a non-material change in our estimates
since our last submission. The increases are due to an increase in
the number of entities subject to the rule.
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.