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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:
3235-0586
ICR Reference No:
201002-3235-028
Status:
Historical Active
Previous ICR Reference No:
200906-3235-005
Agency/Subagency:
SEC
Agency Tracking No:
IM-270-522
Title:
Investment Company Act rule 38a-1, 17 C.F.R. Sec. 270.38a-1, Compliance procedures and practices of registered investment companies.
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
05/09/2010
Retrieve Notice of Action (NOA)
Date Received in OIRA:
03/04/2010
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
05/31/2013
36 Months From Approved
12/31/2012
Responses
4,638
0
4,638
Time Burden (Hours)
254,703
0
254,214
Cost Burden (Dollars)
0
0
0
Abstract:
Rule 38a-1 requires registered investment companies and business development companies to adopt and implement compliance policies and procedures, to review those policies and procedures annually, and to maintain certain records.
Authorizing Statute(s):
US Code:
15 USC 80a-37(a)
Name of Law: Investment Company Act of 1940: Powers of Commission
US Code:
15 USC 80a-30(a)
Name of Law: Investment Company Act of 1940: Maintenance of Records
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AK33
Final or interim final rulemaking
75 FR 10060
03/04/2010
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Investment Company Act rule 38a-1, 17 C.F.R. Sec. 270.38a-1, Compliance procedures and practices of registered investment companies.
ICR Summary of Burden
Total Approved
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
4,638
4,638
0
0
0
0
Annual Time Burden (Hours)
254,703
254,214
0
489
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 estimated total annual burden hours increased slightly from 254,214 to 254,703 hours. The increase in hours is attributable to additional compliance requirements related to adoption of a new general liquidity requirement.
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:
Daniel Chang 2025516792 changd@sec.gov
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:
03/04/2010
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