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.

Forms and Documents

Document Name	Status
PRA_Rule 31a-2 Supporting Statement.pdf Supporting Statement A	2016-11-30
T. Rowe Price.pdf Supplementary Document	2016-11-21
JPMAM.PDF Supplementary Document	2016-11-21
Invesco.pdf Supplementary Document	2016-11-21
IDC.PDF Supplementary Document	2016-11-21
ICI.PDF Supplementary Document	2016-11-21
Eaton Vance (June 2016.pdf Supplementary Document	2016-11-21
Dechert.pdf Supplementary Document	2016-11-21
Charles Schwab.pdf Supplementary Document	2016-11-21

IC Document Collections

IC ID	Document Title	Status
34515	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	Modified

ICR Details

OMB Control No: 3235-0179	ICR Reference No: 201611-3235-025
Status: Historical Active	Previous ICR Reference No: 201505-3235-021
Agency/Subagency: SEC	Agency Tracking No: IM-270-174
Title: 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.
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/09/2017
	Date Received in OIRA: 01/03/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2020	36 Months From Approved	12/31/2018
Responses	3,146	0	3,146
Time Burden (Hours)	693,542	0	692,120
Cost Burden (Dollars)	117,916,486	0	117,632,086

---

Abstract: 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.

---

Authorizing Statute(s): US Code: 15 USC 80a-30 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:
3235-AL61	Final or interim final rulemaking	81 FR 82084	11/18/2016

---

Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? Yes

---

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

IC Title	Form No.	Form Name
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 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	3,146	3,146	0	0	0	0
Annual Time Burden (Hours)	693,542	692,120	0	0	1,422	0
Annual Cost Burden (Dollars)	117,916,486	117,632,086	0	0	284,400	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: We estimate that the total annual time burden associated with rule 31a-2 will increase by 1,422 hours and that the total annual external cost burden of compliance with rule 31a-2 would increase by $284,400 for the estimated 474 funds the staff anticipates will engage in “swing pricing” in reliance on the 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.

---

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: 01/03/2017

---