Temporary rule for principal trades with certain advisory clients, rule 206(3)-3T

ICR 201101-3235-001

OMB: 3235-0630

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2011-03-09
Supplementary Document
2011-01-03
IC Document Collections
ICR Details
3235-0630 201101-3235-001
Historical Active 200711-3235-001
SEC IM-270-571
Temporary rule for principal trades with certain advisory clients, rule 206(3)-3T
Extension without change of a currently approved collection   No
Regular
Approved without change 05/04/2011
Retrieve Notice of Action (NOA) 03/09/2011
  Inventory as of this Action Requested Previously Approved
05/31/2014 36 Months From Approved 05/31/2011
19,000 0 19,000
378,992 0 494,440
824,220 0 13,050,300

Temporary rule 206(3)-3T provides investment advisers who are registered with the Commission as broker-dealers relief by establishing an optional, alternative means for them to meet the requirements of section 206(3) of the Advisers Act when they act in a principal capacity in transactions with certain of their advisory clients.

US Code: 15 USC 80b-6A Name of Law: Investment Advisers Act of 1940
   US Code: 15 USC 80b-11(a) Name of Law: Investment Advisers Act of 1940
  
None

Not associated with rulemaking

  75 FR 82416 12/30/2010
76 FR 13002 03/09/2011
No

1
IC Title Form No. Form Name
Temporary rule for principal trades with certain advisory clients, rule 206(3)-3T

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 19,000 19,000 0 0 0 0
Annual Time Burden (Hours) 378,992 494,440 0 0 -115,448 0
Annual Cost Burden (Dollars) 824,220 13,050,300 0 0 -12,226,080 0
No
No
We have reduced the estimated hour burden from 494,440 hours to 378,992 hours to reflect that not all advisers eligible to rely on rule 206(3)-3T will incur certain initial (as opposed to annual, or ongoing) burdens. Advisers relying on rule 206(3)-3T already have incurred these initial burdens, and generally will incur in the future only the annual burdens. Firms that do not rely on the rule but who choose to do so in the future will incur both initial and annual burdens. The number of responses per investment adviser and the number of hours per response have not changed since the previous estimate. We revised the burden costs – reducing the costs from $13,050,300 to $824,220 – for the same reason.

$0
No
No
No
No
No
Uncollected
Brian Johnson 202 551-6740

  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.
03/09/2011


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