Investment Company Act rule 38a-1, 17 C.F.R. Sec. 270.38a-1, Compliance procedures and practices of registered investment companies.

Forms and Documents

Document Name	Status
38a-1 Supporting Statement (2012-09-26) (AHW).pdf Supporting Statement A	2012-12-17

IC Document Collections

IC ID	Document Title	Status
35444	Investment Company Act rule 38a-1, 17 C.F.R. Sec. 270.38a-1, Compliance procedures and practices of registered investment companies.	Modified

ICR Details

OMB Control No: 3235-0586	ICR Reference No: 201211-3235-031
Status: Historical Active	Previous ICR Reference No: 201002-3235-028
Agency/Subagency: SEC	Agency Tracking No: IM-270-522
Title: Investment Company Act rule 38a-1, 17 C.F.R. Sec. 270.38a-1, Compliance procedures and practices of registered investment companies.
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/25/2013
	Date Received in OIRA: 01/07/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/29/2016	36 Months From Approved	05/31/2013
Responses	4,237	0	4,638
Time Burden (Hours)	248,455	0	254,703
Cost Burden (Dollars)	0	0	0

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Abstract: Rule 38a-1 requires registered investment companies and business development companies to adopt and implement compliance policies and procedures, to review those policies and procedures annually, and to maintain certain records.

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Authorizing Statute(s): US Code: 15 USC 80a-37(a) Name of Law: Investment Company Act of 1940: Powers of Commission
   US Code: 15 USC 80a-30(a) Name of Law: Investment Company Act of 1940: Maintenance of Records
  

Citations for New Statutory Requirements: None

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

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 64367	10/19/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 76098	12/26/2012
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Investment Company Act rule 38a-1, 17 C.F.R. Sec. 270.38a-1, Compliance procedures and practices of registered investment companies.

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ICR Summary 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	4,237	4,638	0	-401	0	0
Annual Time Burden (Hours)	248,455	254,703	0	-6,248	0	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The estimated total annual time burden decreased 6,248 hours, from 254,703 hours to 248,455 hours. This decrease in hours is attributable to a decrease in the number of funds subject to rule 38a-1.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? 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? Uncollected

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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: 01/07/2013

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