Rule 20a-1 Under the Investment Company Act of 1940, Solicitation of Proxies, Consents and Authorizations

Forms and Documents

Document Name	Status
Rule 20a-1 Supporting Statement (5-3-13).pdf Supporting Statement A	2013-07-23

IC Document Collections

IC ID	Document Title	Status
34463	Rule 20a-1 Under the Investment Company Act of 1940, Solicitation of Proxies, Consents and Authorizations	Modified

ICR Details

OMB Control No: 3235-0158	ICR Reference No: 201307-3235-013
Status: Historical Active	Previous ICR Reference No: 201009-3235-026
Agency/Subagency: SEC	Agency Tracking No: CF-270-132
Title: Rule 20a-1 Under the Investment Company Act of 1940, Solicitation of Proxies, Consents and Authorizations
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: 09/10/2013
	Date Received in OIRA: 07/25/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2016	36 Months From Approved	12/31/2013
Responses	1,108	0	1,225
Time Burden (Hours)	94,180	0	161,708
Cost Burden (Dollars)	33,240,000	0	21,344,550

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Abstract: Rule 20a-1 requires that the solicitation of a proxy, consent or authorization with respect to a security issued by an investment company registered under the Investment Company Act of 1940 be in compliance with the Commission's proxy rules (e.g., Regulation 14A and Schedule 14A) to enable security holders to make informed voting decisions. Also, rule 20a-1 instructs registered investment companies, that have made a public offering of securities and that hold security holder votes for which proxies, consents, or authorizations are not being solicited, to refer to the Commission's rules governing information statements (e.g. Regulation 14C and Schedule 14C).

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Authorizing Statute(s): US Code: 15 USC 80a-20(a) 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:
	78 FR 28899	05/16/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 43944	07/23/2013
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 20a-1 Under the Investment Company Act of 1940, Solicitation of Proxies, Consents and Authorizations

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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	1,108	1,225	0	0	-117	0
Annual Time Burden (Hours)	94,180	161,708	0	0	-67,528	0
Annual Cost Burden (Dollars)	33,240,000	21,344,550	0	0	11,895,450	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 decrease in the total annual hour burden is due to the decrease in the number of proxy solicitations filed annually as well as the decreased estimate of the average annual burden associated with the preparation and submission of proxy statements. The number of proxy solicitations filed annually decreased from 1,225 to 1,108 and the staff's estimate of the average annual hour burden decreased from 106.2 to 85. The increase in the total annual cost burden is due to the increased estimate of the costs associated with proxy solicitations, from $15,000 per solicitation to $30,000.

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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]? 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: 07/25/2013

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