6c-11 under the Investment Company Act of 1940 (17 CFR 270.6c-11), Exchange-Traded Funds

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Derivatives Adoption - Rule 6c-11 PRA Supporting Statement.pdf	Supporting Statement A	Uploaded 2021-02-19	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
232374	6c-11 under the Investment Company Act of 1940 (17 CFR 270.6c-11), Exchange-Traded Funds		Modified

ICR Details

OMB Control No: 3235-0764	ICR Reference No: 202101-3235-023
Status: Received in OIRA	Previous ICR Reference No: 201912-3235-001
Agency/Subagency: SEC	Agency Tracking No: IM-270-814
Title: 6c-11 under the Investment Company Act of 1940 (17 CFR 270.6c-11), Exchange-Traded Funds
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 02/19/2021

table that charts list comparision

	Requested	Previously Approved
Expiration Date	36 Months From Approved	02/28/2023
Responses	1,907	1,735
Time Burden (Hours)	81,848	74,466
Cost Burden (Dollars)	27,227,498	24,771,740

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Abstract: Rule 6c-11 under the Investment Company Act of 1940 permits ETFs that satisfy certain conditions to operate without first obtaining an exemptive order from the Commission. The rule is designed to create a consistent, transparent, and efficient regulatory framework for such ETFs and facilitate greater competition and innovation among ETFs.

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Authorizing Statute(s): US Code: 15 USC 80a-6(c), 80a-22(c), and 80a-3 Name of Law: Investment Company Act of 1940
  

Citations for New Statutory Requirements: US Code: 15 USC 80a-1 Name of Law: Investment Compant Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL60	Final or interim final rulemaking	85 FR 83162	12/21/2020

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Federal Register Notices & Comments

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
6c-11 under the Investment Company Act of 1940 (17 CFR 270.6c-11), Exchange-Traded Funds

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ICR Summary of Burden

table that charts list of burden

	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	1,907	1,735	0	172	0	0
Annual Time Burden (Hours)	81,848	74,466	0	7,382	0	0
Annual Cost Burden (Dollars)	27,227,498	24,771,740	0	2,455,758	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The total annual hour burden of 81,848 hours represents an increase of 7,382 hours over the previous burden hour estimate of 74,466 hours. In addition, the annual external cost burden of $1,907,000 represents an increase of $172,000 over the previous annual external cost burden estimate of $1,735,000. The changes in burden hours and external cost burdens are due to the staff’s estimates of the time costs and external costs that would result from the amendments to rule 6c-11.

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Annual Cost to Federal Government:

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: 02/19/2021

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