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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3235-0361
ICR Reference No:
200906-3235-003
Status:
Historical Inactive
Previous ICR Reference No:
200809-3235-018
Agency/Subagency:
SEC
Agency Tracking No:
IM-270-318
Title:
Form ADV-E, cover sheet for each certificate of accounting of client securities and funds in custody of an investment adviser.
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Preapproved
Conclusion Date:
08/19/2009
Retrieve Notice of Action (NOA)
Date Received in OIRA:
06/02/2009
Terms of Clearance:
Pre-approval contingent upon no substantive changes to this collection after adoption of the final rule. Otherwise this collection should be re-submitted to OMB for review.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
08/31/2012
36 Months From Approved
03/31/2012
Responses
11,490
0
189
Time Burden (Hours)
575
0
9
Cost Burden (Dollars)
0
0
0
Abstract:
Form ADV-E is the cover sheet for accountant examination certificates filed pursuant to rule 206(4)-2 under Investment Advisers Act by certain investment advisers retaining custody of client securities or funds.
Authorizing Statute(s):
US Code:
15 USC 80b-4
Name of Law: Investment Advisers Act of 1940
US Code:
15 USC 80b-6(4)
Name of Law: Investment Advisers Act of 1940
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AK32
Proposed rulemaking
74 FR 25354
05/27/2009
Federal Register Notices & Comments
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
Form ADV-E, cover sheet for each certificate of accounting of client securities and funds in custody of an investment adviser.
SEC-2223
Form ADV-E
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
11,490
189
0
11,301
0
0
Annual Time Burden (Hours)
575
9
0
566
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Changing Regulations
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The Commission proposed amendments to rule 206(4-2) which would increase the number of investment advisers required to undergo an annual surprise examination by an independent public accountant and complete Form ADV-E. The amendments would also require Form ADV-E to be filed along with a termination statement upon the accountant's resignation, dismissal, or removal.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
Uncollected
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Vivian Liu 202 942-0719
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:
06/02/2009
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