Rule 12d1-1 (17 CFR 270.12d1-1) under the Investment Company Act of 1940, Exemptions for investments in money market funds

Forms and Documents

Document	Type	Status	Availability
Rule 12d1-1 Supporting Statement-FIN.pdf	Supporting Statement A	Uploaded 2012-04-23	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
35439	Rule 12d1-1 (17 CFR 270.12d1-1) under the Investment Company Act of 1940, Exemptions for investments in money market funds		Modified

ICR Details

OMB Control No: 3235-0584	ICR Reference No: 201203-3235-015
Status: Historical Active	Previous ICR Reference No: 200903-3235-010
Agency/Subagency: SEC	Agency Tracking No: IM-270-526
Title: Rule 12d1-1 (17 CFR 270.12d1-1) under the Investment Company Act of 1940, Exemptions for investments in money market funds
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/20/2012
	Date Received in OIRA: 04/23/2012
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2015	36 Months From Approved	08/31/2012
Responses	3,491	0	10,713
Time Burden (Hours)	13,570	0	80,714
Cost Burden (Dollars)	2,990,000	0	11,400

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Abstract: Rule 12d1-1 exempts registered investment companies from the limitations in sections 12(d)(1)(A) and (B) of the Investment Company Act for investments in registered money market funds and unregistered funds operated to be registered money market funds.

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

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 8298	02/14/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 23515	04/19/2012
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Rule 12d1-1 (17 CFR 270.12d1-1) under the Investment Company Act of 1940, Exemptions for investments in money market funds

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ICR Summary 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	3,491	10,713	0	0	-7,222	0
Annual Time Burden (Hours)	13,570	80,714	0	0	-67,144	0
Annual Cost Burden (Dollars)	2,990,000	11,400	0	0	2,978,600	0

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: No

Burden Reduction Due to:

Short Statement: The estimated total annual time burden is decreased from 81,714 hours to 13,570 hours. The decrease is attributable to decreases in the number of unregistered money market funds in which other funds invest. The estimated total annual cost is increased from $11,400 to $2.99 million annually. The increase in cost is attributable to changes in the estimates and methodology used to calculate compliance with rule 12d1-1. The prior submission assumed that all unregistered money market funds were medium-sized funds that had no capital costs and that had low record preservation costs when measured as a cost per amount of assets under management. In contrast, the current submission estimates that unregistered money market funds may be small, medium-sized, or large funds that incur capital costs and that, on average, have greater amounts of assets under management and therefore greater record preservation costs when measured as a cost per amount of assets under management.

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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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

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: 04/23/2012

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