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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:
3235-0681
ICR Reference No:
201402-3235-004
Status:
Historical Active
Previous ICR Reference No:
201103-3235-015
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-638
Title:
Rules 15Ba1-1 to 15Ba1-8 - Registration of Municipal Advisors
Type of Information Collection:
New collection (Request for a new OMB Control Number)
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved with change
Conclusion Date:
02/05/2014
Retrieve Notice of Action (NOA)
Date Received in OIRA:
02/05/2014
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
02/28/2017
36 Months From Approved
Responses
6,062
0
0
Time Burden (Hours)
198,660
0
0
Cost Burden (Dollars)
149,200
0
0
Abstract:
The Securities and Exchange Commission ("Commission") is adopting new rules 15Ba1-1 through 15Ba1-8, new Rule 15Bc4-1, and new Forms MA, MA-I, MA-W, and MA-NR under the Securities Exchange Act of 1934. These rules and forms are designed to give effect to provisions of Title IX of the Dodd-Frank Act that, among other things, would establish a permanent registration regime with the Commission for municipal advisors and would impose certain record-keeping requirements on such advisors.
Authorizing Statute(s):
US Code:
15 USC 78o-4
Name of Law: Securities Exchange Act of 1934
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 975 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AK86
Final or interim final rulemaking
78 FR 67468
11/12/2013
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
9
IC Title
Form No.
Form Name
Consent to Service of Process from Certain Associated Persons
Form MA-I: Application for Municipal Advisor Registration for Natural Persons
Form MA-I
Form MA-I
Form MA-NR: Designation of U.S. Agent for Service of Process
Form MA-NR
Form MA-NR
Form MA-W: Notice of Withdrawal from Registration as a Municipal Advisor
Form MA-W
Form MA-W
Form MA: Application for Municipal Advisor Registration
Form MA
Form MA
Rule 15Ba1-1(d)(3)(vi): Exemption When a Municipal Entity or Obligated Person is Represented by an Independent Registered Municipal Advisor
Rule 15Ba1-1(h)(2): Exception to Definition of Municipal Escrow Investments
Rule 15Ba1-1(m)(3): Exception to Definition of Proceeds of Municipal Securities
Rule 15Ba1-4: Amendments to Application for Registration and Self-Certification
Form MA Execution Page, Form MA, Form MA-I
Form MA
,
Form MA-I
,
Form MA Execution Page
Rule 15Ba1-8: Books and Records to be Made and Maintained by Municipal Advisors
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
6,062
0
53,182
-24,320
-22,800
0
Annual Time Burden (Hours)
198,660
0
233,176
-10,816
-23,700
0
Annual Cost Burden (Dollars)
149,200
0
134,833
14,367
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
Yes
Burden Reduction Due to:
Cutting Redundancy
Short Statement:
The number of respondents and estimated burden hours have changed as a result of updated data received by the staff since the proposal was released in December 2010. In addition, the structure of the registration regime has been modified since the proposal such that natural person municipal advisors who are not sole proprietors no longer need to register with the Commission on Form MA-I. Instead, it is the municipal advisory firms, not the individuals, that will be required to file Form MA-I with the Commission.
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]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Yes
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:
Eugene Hsia 202 551-5709
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:
02/05/2014
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