Rule 206(4)-3 under the Investment Advisers Act of 1940 (17 CFR 275.206(4)-3)

Forms and Documents

Document	Type	Status	Availability
Rule 206(4)-3 Supporting Statement (Final 4-2-12).pdf	Supporting Statement A	Uploaded 2012-08-17	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
34677	Rule 206(4)-3 under the Investment Advisers Act of 1940 (17 CFR 275.206(4)-3)		Modified

ICR Details

OMB Control No: 3235-0242	ICR Reference No: 201208-3235-007
Status: Historical Active	Previous ICR Reference No: 201008-3235-005
Agency/Subagency: SEC	Agency Tracking No: IM-270-218
Title: Rule 206(4)-3 under the Investment Advisers Act of 1940 (17 CFR 275.206(4)-3)
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: 11/06/2012
	Date Received in OIRA: 10/02/2012
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2015	36 Months From Approved	11/30/2012
Responses	45,749	0	25,531
Time Burden (Hours)	29,279	0	15,848
Cost Burden (Dollars)	0	0	0

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Abstract: 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 prior to engaging the adviser.

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Authorizing Statute(s): US Code: 15 USC 80b-6 Name of Law: Investment Advisers 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 27102	05/10/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 41461	07/13/2012
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 206(4)-3 under the Investment Advisers Act of 1940 (17 CFR 275.206(4)-3)

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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	45,749	25,531	0	0	20,218	0
Annual Time Burden (Hours)	29,279	15,848	0	0	13,431	0
Annual Cost Burden (Dollars)	0	0	0	0	0	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 increases of 20,218 responses and 13,431 annual hours are due to an increase in the number of entities subject to the rule.

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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: 10/02/2012

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