Rule 17a-8 of the Investment Company Act of 1940; Mergers of affiliated companies

Forms and Documents

Document Name	Status
3235-0235.pdf Supplementary Document	2022-04-04
3235-0235.pdf Supplementary Document	2022-04-04
Final Supporting Statement - 17a-8 2022.pdf Supporting Statement A	2022-01-20

IC Document Collections

IC ID	Document Title	Status
34648	Rule 17a-8 of the Investment Company Act of 1940; Mergers of affiliated companies	Modified

ICR Details

OMB Control No: 3235-0235	ICR Reference No: 202201-3235-013
Status: Received in OIRA	Previous ICR Reference No: 201904-3235-009
Agency/Subagency: SEC	Agency Tracking No: IM-270-225
Title: Rule 17a-8 of the Investment Company Act of 1940; Mergers of affiliated companies
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: 04/04/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved	08/31/2022
Responses	384	468
Time Burden (Hours)	2,688	3,276
Cost Burden (Dollars)	5,900,000	13,700,000

---

Abstract: Rule 17a-8 exempts certain fund mergers or consolidations from the restrictions on transactions between affiliates set forth in section 17(a) of the Investment Company Act of 1940. The Rule requires merging funds to meet certain conditions to protect the interests of each fund and its shareholders.

---

Authorizing Statute(s): US Code: 15 USC 80a-37(a) Name of Law: Investment Company Act of 1940
   US Code: 15 USC 80a-6(c) 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:
	87 FR 4321	01/27/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 19565	04/04/2022
Did the Agency receive public comments on this ICR? No

---

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

IC Title	Form No.	Form Name
Rule 17a-8 of the Investment Company Act of 1940; Mergers of affiliated companies

---

ICR Summary 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	384	468	0	0	-84	0
Annual Time Burden (Hours)	2,688	3,276	0	0	-588	0
Annual Cost Burden (Dollars)	5,900,000	13,700,000	0	0	-7,800,000	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 hourly burden of rule 17a-8 decreased by 588 hours from the prior estimate of 3,276 hours, while the estimate cost burden decreased by $7,800,000 from the prior estimate of $13,700,000. The decreases in the hourly burden and in the cost burden are attributed to a change in the estimated number of funds relying on rule 17a-8 as well as a change in data sourcing and methodologies used.

---

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: 04/04/2022

---