Rule 31a-2: Records to be preserved by registered investment companies, certain majority-owned subsidiaries thereof, and other persons having transactions with registered investment companies.
ICR 201512-3235-008
OMB: 3235-0179
Federal Form Document
⚠️ Notice: This information collection may be outdated. More recent filings for OMB 3235-0179 can be found here:
Rule 31a-2: Records to be
preserved by registered investment companies, certain
majority-owned subsidiaries thereof, and other persons having
transactions with registered investment companies.
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
12/31/2018
36 Months From Approved
12/31/2018
3,146
0
3,146
692,120
0
692,120
117,632,086
0
117,632,086
Rule 31a-2 under the Investment
Company Act of 1940 ("Act")(17 CFR 270.31a-2) specifies the time
periods that entities must retain certain books and records,
including those required to be maintained under rule 31a-1 of the
Act.
US Code:
15
USC 80a-30 Name of Law: Investment Company Act of 1940
We estimate that the total
annual time burden associated with rule 31a-2 will increase by 947
hours and that the total annual external cost burden of compliance
with rule 31a-2 would increase by $284,100 for the estimated 947
funds the staff anticipates will engage in “swing pricing” in
reliance on the proposed amendments to rule 22c-1 under the
Investment Company Act, which would permit, but not require,
registered open end management investment companies (except money
market funds and exchange-traded funds) to use swing pricing, a
process of adjusting the net asset value of a fund’s shares to pass
on to purchasing or redeeming shareholders costs associated with
their trading activity. The change in burden hours and external
cost of compliance is due to the staff’s estimates of the time and
costs that would result from our proposed amendments to rule 31a-2
to require a fund that chooses to use swing pricing to create and
maintain a record of support for each computation of an adjustment
to the net asset value of the fund’s shares based on the fund’s
swing policies and procedures.
$0
No
No
No
No
No
Uncollected
Naseem Nixon 202
551-6907
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.