Pursuant to 5
CFR 1320.11(c), OMB files this comment on this information
collection request (ICR. The agency shall examine public comment in
response to the NPRM and will describe in the supporting statement
of its next collection any public comments received regarding the
collection as well as why (or why it did not) incorporate the
commenter’s recommendation. The next submission to OMB must include
the draft final rule.
Inventory as of this Action
Requested
Previously Approved
02/28/2018
36 Months From Approved
02/28/2018
13,516
0
13,516
154,402
0
154,402
3,600,000
0
3,600,000
Form ADV under the Investment Advisers
Act of 1940 is filed upon initial registration as an investment
adviser and is also filed by exempt reporting advisers filing
reports with the Commission, is updated on an annual basis by all
advisers, and may be more frequently updated to correct certain
material information.
US Code:
15
USC 80b Name of Law: Investment Advisers Act of 1940
We estimate that if the
proposed amendments to Form ADV are adopted, the total annual hour
burden for the form would be 329,436 hours. This is an increase of
175,034 hours from the currently approved burden estimates, which
is attributable primarily to the currently approved burden
estimates not considering the amortized annual burden of Form ADV
on existing registered advisers and exempt reporting advisers.
Registered investment advisers are also expected to incur an annual
cost burden of $8,528,875, an increase of $4,928,875 from the
current approved cost burden estimate of $3,600,000. The increase
in annual cost burden is attributable to the currently approved
burden not considering the cost to advisers to fair value private
fund assets. We do not anticipate that the amendments we are
proposing to Form ADV will affect the per adviser cost burden
estimates.
$0
No
No
No
No
No
Uncollected
Bridget Farrell 202
551-6834
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.