Rule 10f-3 (17 CFR 270.10f-3) under the Investment Company Act of 1940, Exemption for the Acquisition of Securities During the Existence of an Underwriting or Selling Syndicate

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
30 Day 0226 Notice 2021-21590 (1).pdf	Supplementary Document	Uploaded 2021-10-12	Repair queued
3235-0226 60 day notice.pdf	Supplementary Document	Uploaded 2021-10-12	Repair queued
Rule 10f-3 Supporting Statement 2021.pdf	Supporting Statement A	Uploaded 2021-06-08	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
34631	Rule 10f-3 (17 CFR 270.10f-3) under the Investment Company Act of 1940, Exemption for the Acquisition of Securities During the Existence of an Underwriting or Selling Syndicate		Modified

ICR Details

OMB Control No: 3235-0226	ICR Reference No: 202106-3235-006
Status: Received in OIRA	Previous ICR Reference No: 201805-3235-012
Agency/Subagency: SEC	Agency Tracking No: IM-270-237
Title: Rule 10f-3 (17 CFR 270.10f-3) under the Investment Company Act of 1940, Exemption for the Acquisition of Securities During the Existence of an Underwriting or Selling Syndicate
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: 10/12/2021

table that charts list comparision

	Requested	Previously Approved
Expiration Date	36 Months From Approved	02/28/2022
Responses	6,817	3,692
Time Burden (Hours)	6,623	4,080
Cost Burden (Dollars)	0	0

---

Abstract: Rule 10f-3 permits, under certain conditions, a registered investment company ("fund") to purchase securities from underwriting syndicates whose members include affiliated persons of the purchasing fund. Records concerning transactions conducted in reliance on the rule and the fund board's review of those transactions must be maintained. This exemption is conditioned on the fund's advisory contract being amended to include certain clauses that prohibit, among other things, consultation between subadvisers that advise the transacting fund and other fund subadvisers.

---

Authorizing Statute(s): US Code: 15 USC 80a-10(f) Name of Law: Investment Company Act of 1940
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 38522	07/21/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 55023	10/05/2021
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
Rule 10f-3 (17 CFR 270.10f-3) under the Investment Company Act of 1940, Exemption for the Acquisition of Securities During the Existence of an Underwriting or Selling Syndicate

---

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	6,817	3,692	0	0	3,125	0
Annual Time Burden (Hours)	6,623	4,080	0	0	2,543	0
Annual Cost Burden (Dollars)	0	0	0	0	0	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 annual burden hours increased by 2,543 hours (from 4,080 hours to 6,623 hours). The increase in hours reflects a change in methodology in estimating burdens due to changes in Rule 10f-3 reporting requirements, coupled with revised estimates, including an increase in the estimated number of funds that rely on Rule 10f-3 each year.

---

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

---

Common Form ICR:  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:

(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: 10/12/2021

---