Rule 204-3, Delivery of brochures and brochure supplements

ICR 202504-3235-005

OMB: 3235-0047

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2025-07-02
Supplementary Document
2025-04-10
Supporting Statement A
2025-04-04
IC Document Collections
IC ID
Document
Title
Status
34124
Modified
ICR Details
3235-0047 202504-3235-005
Received in OIRA 202207-3235-019
SEC IM
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
  
None

Not associated with rulemaking

  90 FR 15376 04/10/2025
90 FR 29097 07/01/2025
No

1
IC Title Form No. Form Name
Rule 204-3, Written Disclosure Statements

  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 16,237 15,516 0 0 721 0
Annual Time Burden (Hours) 62,525 57,589 0 0 4,936 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
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.
07/02/2025


© 2025 OMB.report | Privacy Policy