30 day notice

SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; Comment Request
Upon Written Request, Copies Available From
Securities and Exchange Commission
Office of FOIA Services
100 F Street, NE
Washington, DC 20549-2736
Extension: Rule 206(4)-7
SEC File No. 270-523, OMB Control No. 3235-0585
Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C.
3501 et seq.), the Securities and Exchange Commission (the “Commission”) has submitted to the
Office of Management and Budget (“OMB”) a request for extension of the previously approved
collection of information discussed below.
The title for the collection of information is “Investment Advisers Act rule 206(4)-7 (17
CFR 275.206(4)-7), Compliance procedures and practices.”

Rule 206(4)-7 requires each

investment adviser registered with the Commission to (i) adopt and implement internal
compliance policies and procedures, (ii) review those policies and procedures annually, (iii)
designate a chief compliance officer, and (iv) maintain certain compliance records. Rule 206(4)7 is designed to protect investors by fostering better compliance with the securities laws. The
collection of information under rule 206(4)-7 is necessary to assure that investment advisers
maintain comprehensive internal programs that promote the advisers’ compliance with the
Investment Advisers Act of 1940.

The information collection in the rule also assists the

Commission’s examination staff in assessing the adequacy advisers’ compliance programs. This
collection of information is found at 17 CFR 275.206(4)–7 and is mandatory.
The Commission’s examination staff review the information documented pursuant to rule
206(4)-7; it will be accorded the same level of confidentiality accorded to other responses
provided to the Commission in the context of its examination and oversight program. An agency

-2may not conduct or sponsor, and a person is not required to respond to, a collection of
information unless it displays a currently valid control number.
The respondents to this information collection are investment advisers registered with the
Commission.

Our latest data indicate that there were 13,249 advisers registered with the

Commission as of October 31, 2018. The Commission has estimated that compliance with rule
206(4)-7 imposes an annual burden of approximately 87 hours per respondent. Based on this
figure, the Commission estimates a total annual burden of 1,152, 663 hours for this collection of
information.
The public may view the background documentation for this information collection at the
following website, www.reginfo.gov. Comments should be directed to: (i) Desk Officer for the
Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of
Management and Budget, Room 10102, New Executive Office Building, Washington, DC
20503, or by sending an e-mail to: [email protected]; and (ii) Charles Riddle,
Acting Director/Chief Information Officer, Securities and Exchange Commission, c/o Candace
Kenner, 100 F Street, NE, Washington, DC 20549 or send an email to:
[email protected]. Comments must be submitted to OMB within 30 days of this notice.

Jill M. Peterson
Assistant Secretary
April 17, 2019