Rule 206(3)-2 under the
Investment Advisers Act of 1940 -- Agency Cross Transactions for
Advisory Clients
Reinstatement with change of a previously approved collection
No
Regular
03/03/2022
Requested
Previously Approved
36 Months From Approved
18,900
0
9,450
0
0
0
Rule 206(3)-2 permits an investment
adviser to comply with Section 206(3) of the Investment Advisers
Act of 1940 by obtaining a blanket consent from a client to enter
into agency cross transactions provided that certain disclosures
are made by the adviser to the client.
US Code:
15
USC 80b-1 Name of Law: Investment Advisers Act of 1940
The number of respondents has
decreased from approximately 426 investment advisers to 378
investment advisers. In addition, the number of clients for whom
the investment adviser engages in agency cross transactions has
increased from approximately 16 clients to approximately 22 clients
(although the number of responses and hours per response have not
changed since the last estimate). Accordingly, the total burden
hours for all respondents has decreased from 10,650 hours to 9,450
hours. The decreased burden reflects the net effect of a decrease
in the estimated number of investment advisers relying on the rule
and an decrease in the estimated number of clients for whom the
investment adviser engages in agency cross transactions, since the
last extension request.
$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.