View Information Collection Request (ICR) Package
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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:
3235-0464
ICR Reference No:
200803-3235-031
Status:
Historical Active
Previous ICR Reference No:
200412-3235-033
Agency/Subagency:
SEC
Agency Tracking No:
270-408
Title:
Rule 101, 17 CFR 242.101 (Activities by Distribution Participants)
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:
06/05/2008
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/03/2008
Terms of Clearance:
In its next submission, the agency should remove the cost burdens because they are a monetization of the burden hours. The agency is reminded to avoid such double-counting of burden in the future.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
06/30/2011
36 Months From Approved
06/30/2008
Responses
1,634
0
1,358
Time Burden (Hours)
31,046
0
31,090
Cost Burden (Dollars)
1,763,723
0
0
Abstract:
Rule 101 restricts certain activities of distribution participants and their affiliated purchasers during the distribution period. The proposed amendments would require distribution participants and their affiliated purchasers to maintain records of all instances of reliance on the de minimis transactions exception from Rule 101 of Regulation M.
Authorizing Statute(s):
US Code:
15 USC 80a-23, 80a-29, and 80a-37
Name of Law: Investment Company Act of 1940, Sections 23, 29 and 37
US Code:
15 USC 78k-1(c), 78I,78m,78n,78o(b),
Name of Law: Securities Exchange Act of 1934, Sections 11A(c), 12, 13, 14, 15(b),
US Code:
15 USC 78o(c),78o(g),78q(a),78q(b)
Name of Law: Securities Exchange Act of 1934, Sections 15(c), 15(g), 17(a), 17(b)
US Code:
15 USC 78q(h), 78w(a), 78dd-1, 78mm
Name of Law: Securities Exchange Act of 1934, Sections 17(h), 23(a), 30A and 36
US Code:
15 USC 77g,77q(a),77s(a)
Name of Law: Securities Act of 1933, Sections 7, 17(a), and 19(a)
US Code:
15 USC 78b,78c,78g(c)(2),78i(a),78j
Name of Law: Securities Exchange Act of 1934, Sections 2,3,7(c)(2), 9(a), 10
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:
73 FR 4202
01/24/2008
30-day Notice:
Federal Register Citation:
Citation Date:
73 FR 16731
03/28/2008
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
Rule 101, 17 CFR 242.101 (Activities by Distribution Participants)
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
1,634
1,358
0
0
276
0
Annual Time Burden (Hours)
31,046
31,090
0
0
-44
0
Annual Cost Burden (Dollars)
1,763,723
0
0
1,763,723
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:
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)?
Uncollected
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Bradley Gude 2025515590
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:
04/03/2008
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