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

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
12d3-1 Supporting Statement.pdf	Supporting Statement A	Uploaded 2014-01-30	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
35395	Exemption of acquisitions of securities issued by persons engaged in securities related businesses		Modified

ICR Details

OMB Control No: 3235-0561	ICR Reference No: 201401-3235-013
Status: Historical Active	Previous ICR Reference No: 201102-3235-014
Agency/Subagency: SEC	Agency Tracking No: IM-270-504
Title: Rule 12d3-1 Exemption of acquisitions of securities issued by persons engaged in securities related businesses
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: 05/05/2014
	Date Received in OIRA: 01/30/2014
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2017	36 Months From Approved	05/31/2014
Responses	775	0	252
Time Burden (Hours)	581	0	189
Cost Burden (Dollars)	0	0	0

---

Abstract: 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.

---

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

Citations for New Statutory Requirements: None

---

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

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 70974	11/27/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 4987	01/30/2014
Did the Agency receive public comments on this ICR? No

---

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

table that charts list of burden

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

---

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	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

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: 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.

---

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

---

Common Form ICR:  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:

(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: 01/30/2014

---