Rule 12d3-1 Exemption of acquisitions of securities issued by persons engaged in securities related businesses

ICR 201401-3235-013

OMB: 3235-0561

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2014-01-30
ICR Details
3235-0561 201401-3235-013
Historical Active 201102-3235-014
SEC IM-270-504
Rule 12d3-1 Exemption of acquisitions of securities issued by persons engaged in securities related businesses
Extension without change of a currently approved collection   No
Regular
Approved without change 05/05/2014
Retrieve Notice of Action (NOA) 01/30/2014
  Inventory as of this Action Requested Previously Approved
05/31/2017 36 Months From Approved 05/31/2014
775 0 252
581 0 189
0 0 0

Rule 12d3-1 permits a registered investment company ("fund") to invest up to five percent of its assets in securities of an issuer deriving more than fifteen percent of its gross revenues from securities-related businesses unless the securities are issued by the fund's investment adviser or an affiliated person of the adviser. The rule provides an exemption that allows a fund to invest in securities of a subadviser if the fund's advisory contract includes certain clauses that prohibit, among other things, consultation between the subadvisers that advise the transacting fund and other fund subadvisers.

US Code: 15 USC 80a Name of Law: Investment Company Act of 1940
  
None

Not associated with rulemaking

  78 FR 70974 11/27/2013
79 FR 4987 01/30/2014
No

1
IC Title Form No. Form Name
Exemption of acquisitions of securities issued by persons engaged in securities related businesses

  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 775 252 0 0 523 0
Annual Time Burden (Hours) 581 189 0 0 392 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
Rule 12d3-1 has a current annual burden of 189 hours and no costs. The hour burden associated with rule 12d3-1 has increased to 581 hours since our last burden analysis due to a change in our estimate of the number of funds using subadvisers. The cost burden has not changed. We now estimate that funds that rely on rule 12d3-1 will incur an annual burden of 581 hours instead of the previously estimated 189 burden hours, for a total increase of 392 burden hours.

$0
No
No
No
No
No
Uncollected
Marian Fowler 202 551-6894

  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.
01/30/2014


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