Form ADV

ICR 202011-3235-028

OMB: 3235-0049

Federal Form Document

Forms and Documents
Document
Name
Status
Form and Instruction
Modified
Supporting Statement A
2020-11-25
IC Document Collections
IC ID
Document
Title
Status
34137 Modified
ICR Details
3235-0049 202011-3235-028
Received in OIRA 202005-3235-004
SEC IM-270-039
Form ADV
Revision of a currently approved collection   No
Regular 11/27/2020
  Requested Previously Approved
36 Months From Approved 11/30/2023
17,800 17,800
390,383 383,652
13,822,389 13,822,389

The proposed amendments to Form ADV to add a subsection L to Item 5 of Part 1A (“Advertising Activities”) would require the reporting of information about an adviser’s use in its advertisements of performance results, testimonials, endorsements, third-party ratings and its previous investment advice. The Commission uses the information on Form ADV to determine eligibility for registration and to manage regulatory and examination programs. Clients use the information required in Form ADV to determine whether to hire or retain an investment adviser.

US Code: 15 USC 80b-1 Name of Law: Investment Advisers Act of 1940
  
None

3235-AM08 Proposed rulemaking 84 FR 67518 12/10/2019

No

1
IC Title Form No. Form Name
Form ADV SEC 1707, SEC 1707, SEC 1707, SEC 1707, SEC 1707 Form ADV instructions ,   Form ADV Part1a ,   Form ADV Part 1B ,   Form ADV ,   Form ADV Execution

  Total Request 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 17,800 17,800 0 0 0 0
Annual Time Burden (Hours) 390,383 383,652 0 6,731 0 0
Annual Cost Burden (Dollars) 13,822,389 13,822,389 0 0 0 0
Yes
Miscellaneous Actions
No
We estimate that the proposed amendments to Form ADV will result in a the revised annual aggregate burden hours for Form ADV (Parts 1, 2 and 3) for all registered advisers and exempt reporting advisers would be 390,383 hours per year, with a monetized value of $107,470,792. This would be an aggregate increase of 6,731 hours, or $2,013,666 in the monetized value of the hour burden, from the currently approved annual aggregate burden estimates, increases which are attributed to the factors described in the supporting statement

$0
No
    Yes
    Yes
No
No
No
No
Aaron Russ 202 551-5783

  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.
11/27/2020


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