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:
3235-0212
ICR Reference No:
201503-3235-010
Status:
Historical Active
Previous ICR Reference No:
201209-3235-002
Agency/Subagency:
SEC
Agency Tracking No:
IM-270-188
Title:
Rule 12b-1 [17 CFR 270.12b-1] under the Investment Company Act of 1940: Distribution of Shares by Registered Open-end Management Investment Company
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:
12/21/2015
Retrieve Notice of Action (NOA)
Date Received in OIRA:
10/27/2015
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
12/31/2018
36 Months From Approved
12/31/2015
Responses
31,348
0
27,084
Time Burden (Hours)
140,250
0
159,375
Cost Burden (Dollars)
103,116
0
96,522
Abstract:
Rule 12b-1 under the Investment Company Act (17 CFR 270.12b-1) permits a mutual fund to bear expenses associated with the distribution of its shares, provided that the fund complies with certain requirements. Rule 12b-1 requires, among other things, that the fund adopt a written plan describing all material aspects of the proposed financing of distribution ("rule 12b-1 plan"). The rule 12b-1 plan must be approved by the fund's board of directors, including the independent directors (as described in the rule), and, if the rule 12b-1 plan is being adopted after public offering of the fund's voting securities, by a majority of the fund's outstanding voting securities.
Authorizing Statute(s):
US Code:
15 USC 80a-12(b)
Name of Law: Investment Company Act of 1940
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:
80 FR 21790
04/20/2015
30-day Notice:
Federal Register Citation:
Citation Date:
80 FR 36014
06/23/2015
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 12b-1 [17 CFR 270.12b-1] under the Investment Company Act of 1940: Distribution of Shares by Registered Open-End Management Investment Company
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
31,348
27,084
0
0
4,264
0
Annual Time Burden (Hours)
140,250
159,375
0
0
-19,125
0
Annual Cost Burden (Dollars)
103,116
96,522
0
0
6,594
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:
The estimated annual burden hours for funds with rule 12b-1 plans decreased by 19,125 hours, from 159,375 to 140,250 hours. This is due to a decrease in the number of mutual fund families that have at least one fund that charges rule 12b-1 fees. The estimated total annual cost burden increased $6594, from $96,522 to $103,116. The increase in cost is due to inflation.
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]?
No
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:
10/27/2015
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