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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:
202307-3235-012
Status:
Active
Previous ICR Reference No:
202006-3235-004
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-638
Title:
Rules 15Ba1-1 to 15Ba1-8 - Registration of Municipal Advisors and Forms MA, MA-I, MA-W, and MA-NR
Type of Information Collection:
Extension without change of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
10/16/2023
Retrieve Notice of Action (NOA)
Date Received in OIRA:
08/01/2023
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2026
36 Months From Approved
10/31/2023
Responses
2,740
0
4,219
Time Burden (Hours)
80,964
0
123,087
Cost Burden (Dollars)
12,432
0
17,600
Abstract:
Rules 15Ba1-1 through 15Ba1-8, Rule 15Bc4-1, and Forms MA, MA-I, MA-W, and MA-NR under the Securities Exchange Act of 1934. These rules and forms are designed to establish a permanent registration regime with the Commission for municipal advisors and would impose certain record-keeping requirements on those advisors.
Authorizing Statute(s):
US Code:
15 USC 78o-4
Name of Law: Securities Exchange Act of 1934
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
88 FR 34196
05/26/2023
30-day Notice:
Federal Register Citation:
Citation Date:
88 FR 50202
08/01/2023
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
10
IC Title
Form No.
Form Name
Consent to Service of Process from Certain Associated Persons
Form MA-I: Information Regarding Natural Persons Who Engage in Municipal Advisory Activities
SEC 2899
Form MA-I
Form MA-NR: Designation of U.S. Agent for Service of Process for Non-Residents
SEC 2900
Form MA-NR
Form MA-W: Notice of Withdrawal from Registration as a Municipal Advisor
SEC 2901
Form MA-W
Form MA: Application for Municipal Advisor Registration
SEC 2898
Form MA
Form MA: Application for Municipal Advisor Registration - Costs
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 15Ba1-8: 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
2,740
4,219
0
0
-1,479
0
Annual Time Burden (Hours)
80,964
123,087
0
0
-42,123
0
Annual Cost Burden (Dollars)
12,432
17,600
0
0
-5,168
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:
Adjustments in estimates are based on recent three year averages of collection activities. Adjustments also take into account an increase in costs to hire outside counsel due to inflation, and a reduced time burden estimate to complete Form MA-NR. See Section 15 of the Supporting Statement for further detail.
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.
Yes
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.
Yes
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?
No
Agency Contact:
Matthew Newman 404 842-7614 newmanmat@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:
08/01/2023
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