Exemption for Certain Multi-State Investment Advisers (Rule 203A-2(d))

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Rule 203A-2(d) Supporting Statement (6-24-2011).docx	Supporting Statement A	Uploaded 2011-06-30	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
195677	Exemption for Certain Multi-State Investment Advisers (Rule 203A-2(d))		Modified

ICR Details

OMB Control No: 3235-0689	ICR Reference No: 201106-3235-021
Status: Historical Active	Previous ICR Reference No: 201012-3235-008
Agency/Subagency: SEC	Agency Tracking No: IM-270-630
Title: Exemption for Certain Multi-State Investment Advisers (Rule 203A-2(d))
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/19/2011
	Date Received in OIRA: 07/19/2011
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2014	36 Months From Approved
Responses	155	0	0
Time Burden (Hours)	1,240	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Rule 203A-2(d) under the Investment Advisers Act of 1940 would permit all investment advisers required to register as advisers with 15 or more states to register with the Commission, and requires any adviser relying on the rule to maintain in an easily accessible place a record of the states in which the investment adviser has determined it would be required to register for a period of not less that five years from the filing of a Form ADV relying on the rule.

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Authorizing Statute(s): US Code: 15 USC 80b-11(a) Name of Law: Investment Advisers Act of 1940
   PL: Pub.L. 111 - 203 410 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 15 USC 80b-3a(c) Name of Law: Investment Advisers Act of 1940
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 410 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AK82	Final or interim final rulemaking	76 FR 42950	07/19/2011

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? Yes

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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
Exemption for Certain Multi-State Investment Advisers (Rule 203A-2(d))

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ICR Summary of Burden

table that charts list of burden

	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	155	0	100	15	0	40
Annual Time Burden (Hours)	1,240	0	800	120	0	320
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to: Changing Regulations

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

Burden Reduction Due to:

Short Statement: We estimate that approximately 100 additional advisers may rely on the provision the Dodd-Frank act added to the Advisers Act that permits an adviser with between $25 million and $100 million of assets under management to register with the Commission if the adviser is required to register as an adviser with 15 or more states. This would increase the burden of rule 203A-2(d) by 800. We also estimate that 15 small advisers with assets under management of $25 million or less would newly be eligible for the amended multi-state exemption, further increases the burden by 120 hours.

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Annual Cost to Federal Government:

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]? No

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

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

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: 07/19/2011

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