Exemption for Certain Investment Advisers Operating Through the Internet (Rule 203A-2(e))

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
3235-0559 30 Day Notice.pdf	Supplementary Document	Uploaded 2020-05-20	Available
3235-0559 60 Day Notice.pdf	Supplementary Document	Uploaded 2020-05-20	Available
Rule 203A-2(e) Supporting Statement 2020.pdf	Supporting Statement A	Uploaded 2020-02-20	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
35391	Exemption for Certain Investment Advisers Operating through the Internet (Rule 203A-2(e))		Modified

ICR Details

OMB Control No: 3235-0559	ICR Reference No: 202002-3235-017
Status: Active	Previous ICR Reference No: 201611-3235-023
Agency/Subagency: SEC	Agency Tracking No: IM-270-501
Title: Exemption for Certain Investment Advisers Operating Through the Internet (Rule 203A-2(e))
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: 07/08/2020
	Date Received in OIRA: 05/20/2020
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2023	36 Months From Approved	08/31/2020
Responses	181	0	144
Time Burden (Hours)	724	0	576
Cost Burden (Dollars)	0	0	0

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Abstract: Rule 203A-2(e) of the Investment Advisers Act of 1940 sets forth an exemption from the prohibition on Commission registration for certain advisers operating through the internet.

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Authorizing Statute(s): US Code: 15 USC 80b Name of Law: Investment Advisers 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:
	85 FR 13967	03/10/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 30761	05/20/2020
Did the Agency receive public comments on this ICR? No

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

table that charts list of burden

IC Title	Form No.	Form Name
Exemption for Certain Investment Advisers Operating through the Internet (Rule 203A-2(e))

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ICR Summary of Burden

table that charts list 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	181	144	0	0	37	0
Annual Time Burden (Hours)	724	576	0	0	148	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 revised burden for rule 203A-2(e) results from an increase in the number of advisers relying on the rule for Commission registration eligibility. The annual recordkeeping burden under the rule previously was 576 hours, or four hours per adviser for a total of 144 advisers. Adjusting this number for the thirty-seven additional advisers relying on the rule, the annual recordkeeping burden is revised from 576 hours to 724 hours.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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? No

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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: 05/20/2020

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