The Department's regulation at 29 CFR
2510.3-38 provides that, in order to meet the definition of
investment manager in section 3(38) of the Employee Retirement
Income Security Act of 1974, state-registered investment advisers
must register electronically through a centralized electronic
filing system established by the SEC and state investment
authorities called the Investment Adviser Registration Depository
("IARD") rather than providing a paper copy of their state
registration to the Secretary of Labor.
US Code:
29 USC 1003(38)(B) Name of Law: Employee Retirement Income
Security Act of 1974
There have been no program
changes to this information collection since the prior ICR. Only
South Carolina and West Virginia do not require the IARD for their
investment advisors. Thus, the Department's requirement only
imposes a burden upon a small set of investment advisors in two
states. The Department has updated the number of paper filers in
these two states to reflect more current data on paper filings.
Wage rates have also been updated.
$0
No
No
No
No
No
Uncollected
Chris Cosby 202
693-8540
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.