Investment Company Act rule 17e-1, CFR Sec. 270.17e-1, Brokerage Transactions on a Securities Exchange

Forms and Documents

Document	Type	Status	Availability
Rule 17e-1 Supporting Statement.pdf	Supporting Statement A	Uploaded 2016-05-04	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
34604	Rule 17e-1, Brokerage Transactions on a Securities Exchange		Modified

ICR Details

OMB Control No: 3235-0217	ICR Reference No: 201601-3235-007
Status: Historical Active	Previous ICR Reference No: 201307-3235-008
Agency/Subagency: SEC	Agency Tracking No: IM-270-224
Title: Investment Company Act rule 17e-1, CFR Sec. 270.17e-1, Brokerage Transactions on a Securities Exchange
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: 07/12/2016
	Date Received in OIRA: 05/04/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2019	36 Months From Approved	09/30/2016
Responses	1,696	0	1,836
Time Burden (Hours)	51,140	0	43,021
Cost Burden (Dollars)	0	0	0

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Abstract: Rule 17e-1 governs the receipt of compensation by a broker affiliated with a registered investment company in connection with securities transactions by the investment company. The rule requires the board of directors to establish and review procedures to ensure compliance with the rule, and imposes recordkeeping requirements concerning such procedures and transactions effected under the rule. The rule exempts certain transactions from some of the rule's procedural and recordkeeping requirements.

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Authorizing Statute(s): US Code: 15 USC 80a 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:
	81 FR 5149	02/02/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 18931	04/01/2016
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 17e-1, Brokerage Transactions on a Securities Exchange

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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	1,696	1,836	0	0	-140	0
Annual Time Burden (Hours)	51,140	43,021	0	0	8,119	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: The estimated hourly burden associated with rule 17e-1 has increased from 43,021 hours to 51,140 hours (an increase of 8,119 hours). The net increase is due to an increase in the estimated average annual hourly burden per fund, partially offset by (i) a decrease in the number of funds estimated to enter into subadvisory agreements each year; and (ii) a decrease in the number of funds estimated to use an affiliated broker.

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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

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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: 05/04/2016

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