Rule 206(4)-1 Under the Investment Advisers Act of 1940

ICR 202102-3235-006


Federal Form Document

Forms and Documents
Supporting Statement A
IC Document Collections
ICR Details
Received in OIRA
Rule 206(4)-1 Under the Investment Advisers Act of 1940
New collection (Request for a new OMB Control Number)   No
Regular 02/19/2021
  Requested Previously Approved
36 Months From Approved
1,454,170 0
1,832,281 0
27,000 0

Advisers would be required to include certain information in advertisements that include testimonials or endorsements, third-party ratings, or performance information. Advisers would also be required The purpose of the information collection is to better inform prospective advisory clients about the utility and limitations of information in investment adviser advertisements, and to facilitate the SEC's examination and oversight program in determining compliance with the Advisers Act.

US Code: 15 USC 80b-1 Name of Law: Investment Advisers Act of 1940

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


IC Title Form No. Form Name
Rule 206(4)-1 Under the Investment Advisers Act of 1940

  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 1,454,170 0 0 1,454,170 0 0
Annual Time Burden (Hours) 1,832,281 0 0 1,832,281 0 0
Annual Cost Burden (Dollars) 27,000 0 0 27,000 0 0
Changing Regulations
We are asking that a new collection of information for rule 206(4)-1 be created in relation to proposed amendments to the rule. As a result of the proposed amendments to rule 206(4)-1, the hour burden for preparing and delivering information related to use of testimonials or endorsements, third-party ratings, and performance information will be 1,832,281 hours, at time cost burden of $736,001,832, and the external cost burden will be $27,000.

Christopher Staley 202 551-8475


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.

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