Rule 204A-1

Forms and Documents

Document Name	Status
3235-0596.pdf Supplementary Document	2022-06-06
3235-0596.pdf Supplementary Document	2022-06-06
204A-1 Supporting Statement 2022.pdf Supporting Statement A	2022-01-13

IC Document Collections

IC ID	Document Title	Status
35457	Rule 204A-1 under the Investment Advisers Act of 1940 -- Codes of Ethics	Modified

ICR Details

OMB Control No: 3235-0596	ICR Reference No: 202201-3235-008
Status: Received in OIRA	Previous ICR Reference No: 201906-3235-001
Agency/Subagency: SEC	Agency Tracking No: IM-270-536
Title: Rule 204A-1
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 06/06/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved	10/31/2022
Responses	3,382,150	3,108,828
Time Burden (Hours)	1,275,659	1,194,133
Cost Burden (Dollars)	0	0

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Abstract: Rule 204A-1 requires SEC-registered investment advisers to adopt codes of ethics governing their supervised persons.

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Authorizing Statute(s): US Code: 15 USC 80b Name of Law: Investment Advisers Act of 1940
  

Citations for New Statutory Requirements: None

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

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 17358	03/28/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 34321	06/06/2022
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Rule 204A-1 under the Investment Advisers Act of 1940 -- Codes of Ethics

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ICR Summary of Burden

	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	3,382,150	3,108,828	0	0	273,322	0
Annual Time Burden (Hours)	1,275,659	1,194,133	0	0	81,526	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: We have revised the estimated burden based on new information on the number of SEC-registered investment advisers, and the average number of non-clerical employees per adviser, that we obtained from Form ADVs filed through the IARD. The number of responses per investment adviser has decreased slightly, as there was a slight decrease in the average number of an adviser’s non-clerical employees that we assume that advisers will treat as access persons, but the number of hours per response have not changed since the last estimate. The increase in hour burden is due to an increase in the estimated number of respondents, overall (there was an increase in the number of registered investment advisers, and a slight decrease in the average number of an adviser’s non-clerical employees).

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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]? No

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

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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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: 06/06/2022

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