Form ADV

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form SEC 1707 Form ADV Execution	Form and Instruction	Modified	Available
Form SEC 1707 Form ADV	Form and Instruction	Modified	Available
Form SEC 1707 Form ADV Part 1B	Form and Instruction	Modified	Repair queued
Form SEC 1707 Form ADV Part1a	Form and Instruction	Modified	Available
Form SEC 1707 Form ADV instructions	Form and Instruction	Modified	Available
Form SEC 1707 Form ADV	Form and Instruction	Modified	Repair queued
Supporting Statement - Form ADV.pdf	Supporting Statement A	Uploaded 2024-05-16	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
34137	Form ADV	Form and Instruction	Modified	Form ADV Execution
34137	Form ADV	Form and Instruction	Modified	Form ADV
34137	Form ADV	Form and Instruction	Modified	Form ADV Part 1B
34137	Form ADV	Form and Instruction	Modified	Form ADV Part1a
34137	Form ADV	Form and Instruction	Modified	Form ADV instructions
34137	Form ADV	Form and Instruction	Modified

ICR Details

OMB Control No: 3235-0049	ICR Reference No: 202405-3235-004
Status: Active	Previous ICR Reference No: 202108-3235-017
Agency/Subagency: SEC	Agency Tracking No: IM-270-039
Title: Form ADV
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/02/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 05/22/2024
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2027	36 Months From Approved	10/31/2024
Responses	23,049	0	18,179
Time Burden (Hours)	247,109	0	433,004
Cost Burden (Dollars)	21,144,552	0	14,125,083

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Abstract: On March 27, 2024, the Commission adopted amendments to rule 203A-2(e) for investment advisers relying on the exemption in rule 203A-2(e). In connection with the amendments to rule 203A-2(e) ("internet investment advisers"), the Commission amended Form ADV to conform certain instructions and definitions to the amended rule. The amendments to Form ADV require an adviser relying on the rule as a basis for registration to represent on Schedule D of its Form ADV that it has an operational interactive website. These amendments require internet investment advisers, as an initial matter and periodically thereafter, to provide an additional affirmative representation on Form ADV that more clearly notes the requirements of the exemption, thus reinforcing the conditions of the exemption for the internet investment adviser. The Commission uses the information on Form ADV to determine eligibility for registration and to manage regulatory and examination programs. Clients use the information required in Form ADV to determine whether to hire or retain an investment adviser.

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Authorizing Statute(s): US Code: 15 USC 80b-1 Name of Law: Investment Advisers Act of 1940
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AN31	Final or interim final rulemaking	89 FR 24693	04/09/2024

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Federal Register Notices & Comments

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
Form ADV	SEC 1707, SEC 1707, SEC 1707, SEC 1707, SEC 1707	Form ADV instructions ,   Form ADV Part1a ,   Form ADV Part 1B ,   Form ADV ,   Form ADV Execution

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ICR Summary of Burden

table that charts list of burden

	Total Approved	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	23,049	18,179	0	4,870	0	0
Annual Time Burden (Hours)	247,109	433,004	0	-185,895	0	0
Annual Cost Burden (Dollars)	21,144,552	14,125,083	0	7,019,469	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The estimated annual burden hours associated with Form ADV has decreased from 433,004 hours to 247,108.93 hours (a decrease of 185,895.07). In addition, the external cost burden associated with Form ADV has increased from $14,125,083 to $21,144,551.78 (an increase of $7,019,468.78). The changes in annual burden hours and external cost burden are due to updated data, a change in our approach to calculating the initial and ongoing burdens of completing Form ADV, and our amendments to Form ADV to require an adviser providing advisory services through the internet and relying on rule 203A-2(e) for Commission registration under the Investment Advisers Act of 1940 to represent on Part 1A, Schedule D of its Form ADV that it has an operational interactive website.

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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.     Yes

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.     Yes

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: 05/22/2024

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