Rule 204-3, Delivery of
brochures and brochure supplements
Extension without change of a currently approved collection
No
Regular
07/02/2025
Requested
Previously Approved
36 Months From Approved
10/31/2025
16,237
15,516
62,525
57,589
0
0
Rule 204-3 under the Investment
Advisers Act of 1940 (17 CFR 275.204-3) requires SEC-registered
investment advisers to deliver written disclosure statements
("brochures and brochure supplements") to clients and prospective
clients containing specified information about the adviser's
background, business practices, services, fees, and key supervised
personnel. The SEC needs this information collection to ensure
investors receive information necessary to make informed decisions
about retaining or continuing to employ investment advisers, while
the SEC uses the disclosed information in its enforcement,
regulatory, and examination programs to monitor adviser compliance
and protect investors. Respondents are SEC-registered investment
advisers who must deliver current brochures before or when entering
into advisory contracts, provide annual updates when there are
material changes, deliver brochure supplements for key supervised
personnel, and promptly notify clients of disciplinary information
changes. This collection fulfills a disclosure requirement where
investment advisers provide the brochures and supplements directly
to their clients and prospective clients. The brochure is filed
with the SEC electronically on IARD, but the brochure supplements
are not. The SEC reviews these disclosure documents during
examinations to assess compliance with investor protection
requirements.
US Code:
15
USC 80b Name of Law: Investment Advisers Act of 1940
The estimated total burden
hours has increased from 57,589 to 62,525 hours per year in
aggregate, representing an increase of 4,936 hours per year from
the currently approved burden. This revised estimate is primarily
due to updated information on the number of SEC-registered
investment advisers that we obtained from Form ADVs filed through
the IARD as of March 31, 2024.1 The estimated number of annual
responses has increased from approximately 15,516 to 16,237,
representing an increase of 721 responses from the currently
approved number of responses. This revised estimate is primarily
due to new information on the number of SEC-registered investment
advisers that we obtained from Form ADVs filed through the IARD as
of March 31, 2024.
$0
No
No
No
No
No
No
No
Samuel Thomas 202
551-7952
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:
(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.