OMB files this comment in accordance with 5 CFR 1320.11( c ). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. For future submissions of this information collection, reference the OMB Control Number provided. Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). The agency shall examine public comments 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 commentersâ recommendations. The next submission to OMB must include the draft final rule.
In addition, OMB notes that although this information collection is associated with a proposed rule that was published in the Federal Register in July 2016, the ICR was not submitted to OMB until July 2018. Pursuant to 5 CFR 1320.11(b), for collections of information contained in a proposed regulation, âall submissions shall be made to OMB not later than the day on which the Notice of Proposed Rulemaking is published in the Federal Register, in such form and in accordance with such procedures as OMB may direct. Such submissions shall include a copy of the proposed regulation and preamble.â A failure to submit a collection in a timely manner is also a violation of section 3507(d) of the Paperwork Reduction Act.
Please submit to OMB all future collections associated with a proposed rule in a timely manner, but no later than the day of publication of the proposed rule in the Federal Register.
Inventory as of this Action
Requested
Previously Approved
03/31/2020
36 Months From Approved
03/31/2020
12,024
0
12,024
2,199,791
0
2,199,791
0
0
0
Rule 204-2 sets forth the books and records that SEC-registered investment advisers must maintain and preserve.
US Code:
15 USC 80b
Name of Law: Investment Advisers Act of 1940
PL: Pub.L. 111 - 213 410 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
We estimate that the total burden hours associated with rule 204-2 would increase from 2,323,636 hours per year to 2,349,022 hours per year because of the rule 204-2 amendments that have been proposed by the Commission in connection with proposed rule 206(4)-4.
$0
No
No
No
No
No
No
Uncollected
John Foley 202 551-6724
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.
Rule 204-2 Supporting Statement.pdf
Rule 204-2, Books and Records to Be Maintained by Investment Advisers