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

Forms and Documents

Document Name	Status
38a-1 Supporting Statement (2017-06-01).pdf Supporting Statement A	2017-12-29

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: 201706-3235-003
Status: Active	Previous ICR Reference No: 201407-3235-003
Agency/Subagency: SEC	Agency Tracking No: IM-270-522
Title: Investment Company Act Rule 38a-1, 17 C.F.R 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: 02/21/2018
	Date Received in OIRA: 12/29/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2021	36 Months From Approved	02/28/2018
Responses	4,333	0	4,237
Time Burden (Hours)	237,500	0	263,631
Cost Burden (Dollars)	0	0	0

---

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.

---

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: PL: Pub.L. 111 - 203 939A Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

---

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

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 31118	07/05/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 43064	09/13/2017
Did the Agency receive public comments on this ICR? No

---

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.

---

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	4,333	4,237	0	0	96	0
Annual Time Burden (Hours)	237,500	263,631	0	0	-26,131	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: No

Burden Reduction Due to:

Short Statement: The estimated total annual burden hours decreased 26,131 hours, from 263,631 hours to 237,500 hours. This decrease in burden hours is attributable to changes in the number of registrants and the completion of certain one-time compliance burdens.

---

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.     No

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.     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]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

---

Common Form ICR:  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:

(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: 12/29/2017

---