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

ICR 202103-3235-007

OMB: 3235-0584

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Supporting Statement A
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ICR Details
3235-0584 202103-3235-007
Received in OIRA 201801-3235-008
SEC IM-270-526
Rule 12d1-1 Exemptions for Investments in Money Market Funds
Extension without change of a currently approved collection   No
Regular 06/09/2021
  Requested Previously Approved
36 Months From Approved 06/30/2021
24,875 7,048
33,660 48,802
2,072,300 2,065,629

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.

US Code: 15 USC 80a Name of Law: Investment Company Act of 1940

Not associated with rulemaking

  86 FR 16249 03/26/2021
86 FR 30644 06/09/2021

IC Title Form No. Form Name
Rule 12d1-1 Exemptions for Investments in Money Market Funds

  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
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.

Pamela Ellis 202 551-3506


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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