OMB files this
comment in accordance with 5 CFR 1320.11( c ). This OMB action is
not an approval to conduct or sponsor an information collection
under the Paperwork Reduction Act of 1995. This action has no
effect on any current approvals. If OMB has assigned this ICR a new
OMB Control Number, the OMB Control Number will not appear in the
active inventory. For future submissions of this information
collection, reference the OMB Control Number provided. Pursuant to
5 CFR 1320.11(c), OMB files this comment on this information
collection request (ICR). The agency shall examine public comment
in response to the NPRM and will describe in the supporting
statement of its next collection any public comments received
regarding the collection as well as why (or why it did not)
incorporate the commenter’s recommendation. The next submission to
OMB must include the draft final rule.
Inventory as of this Action
Requested
Previously Approved
02/28/2022
36 Months From Approved
02/28/2022
48,345
0
48,345
30,941
0
30,941
0
0
0
The proposed amendments to the Rule
206(4)-3 would expand the rule to cover solicitation arrangements
involving all forms of compensation, rather than only cash
compensation, eliminate requirements duplicative of other rules,
and tailor the required disclosures solicitors would solicitors
would provide to investors. The SEC uses this information to manage
our regulatory and examination programs and investors need accurate
information about adviser's compensation arrangements with
solicitors to determine whether to retain an advisor recommended by
a solicitor.
US Code:
15
USC 80b-6 Name of Law: Investment Advisers Act of 1940
We estimate that the total
burden hours associated with rule 206(4)-3 will increase from
30,941 hours per year to 68,906 hours per year because of the
amendments to rule 206(4)-3. This increase is attributable to a
larger registered investment adviser population since the most
recent approval, as well as the proposed amendments to the
rule.
$0
No
No
No
No
No
No
No
Christopher Staley 202
551-8475
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.