Rule 206(3)-2 under the Investment Advisers Act of 1940 -- Agency Cross Transactions for Advisory Clients

ICR 202108-3235-008

OMB: 3235-0243

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2022-03-03
Supplementary Document
2022-03-03
Supporting Statement A
2021-08-16
ICR Details
3235-0243 202108-3235-008
Received in OIRA 201801-3235-009
SEC IM-270-216
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
  
None

Not associated with rulemaking

  86 FR 48779 08/31/2021
86 FR 61345 11/05/2021
No

1
IC Title Form No. Form Name
Rule 206(3)-2 under the Investment Advisers Act of 1940 -- Agency Cross Transactions for Advisory Clients

  Total Request 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 18,900 0 0 0 -2,400 21,300
Annual Time Burden (Hours) 9,450 0 0 0 -1,200 10,650
Annual Cost Burden (Dollars) 0 0 0 0 -1,445,738 1,445,738
No
No
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.
03/03/2022


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