Rule 12d1-1 Exemptions for Investments in Money Market Funds

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
3235-0584 60 Day Notice.pdf	Supplementary Document	Uploaded 2021-06-09	Repair queued
3235-0584 30 Day Notice.pdf	Supplementary Document	Uploaded 2021-06-09	Repair queued
Rule 12d1-1 Supporting Statement.pdf	Supporting Statement A	Uploaded 2021-03-12	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
35439	Rule 12d1-1 Exemptions for Investments in Money Market Funds		Modified

ICR Details

OMB Control No: 3235-0584	ICR Reference No: 202103-3235-007
Status: Received in OIRA	Previous ICR Reference No: 201801-3235-008
Agency/Subagency: SEC	Agency Tracking No: IM-270-526
Title: Rule 12d1-1 Exemptions for Investments in Money Market Funds
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 06/09/2021

table that charts list comparision

	Requested	Previously Approved
Expiration Date	36 Months From Approved	06/30/2021
Responses	24,875	7,048
Time Burden (Hours)	33,660	48,802
Cost Burden (Dollars)	2,072,300	2,065,629

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Abstract: Rule 12d1-1 exempts registered investment companies from the limitations in sections 12(d)(1)(A) and (B) of the Investment Company Act for investments in registered money market funds and unregistered funds operated as registered money market funds.

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Authorizing Statute(s): US Code: 15 USC 80a Name of Law: Investment Company 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:
	86 FR 16249	03/26/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 30644	06/09/2021
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
Rule 12d1-1 Exemptions for Investments in Money Market 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	24,875	7,048	0	0	17,827	0
Annual Time Burden (Hours)	33,660	48,802	0	0	-15,142	0
Annual Cost Burden (Dollars)	2,072,300	2,065,629	0	0	6,671	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 estimated total annual burden decreased from 48,801.5 to 33,660 hours. The decrease in hours is attributable to a decrease in our estimate of the number of fund complexes with liquidity funds invested in by mutual funds in excess of the statutory limits under rule 12d1 1. The estimated total annual cost is increased from $2.07 million annually to $10.93 million annually. The increase in cost is attributable additional regulatory requirements under rule 2a-7 as well as to an increase in the gross asset value of private liquidity funds as reported on Form PF data.

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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: 06/09/2021

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