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:
3235-0268
ICR Reference No:
201510-3235-008
Status:
Historical Active
Previous ICR Reference No:
201408-3235-022
Agency/Subagency:
SEC
Agency Tracking No:
IM-270-258
Title:
Rule 2a-7 (17 CFR 270.2a-7) under the Investment Company Act of 1940, Money market funds
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:
03/11/2016
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/08/2015
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
03/31/2019
36 Months From Approved
01/31/2018
Responses
81,624
0
84,911
Time Burden (Hours)
632,725
0
632,244
Cost Burden (Dollars)
92,900,000
0
92,900,000
Abstract:
Rule 2a-7 exempts money market funds from the valuation requirements of the Investment Company Act of 1940, and, subject to certain risk-limiting conditions, permits money market funds to use the amortized cost method of asset valuation or the penny-rounding method of share pricing.
Authorizing Statute(s):
US Code:
15 USC 80a
Name of Law: Investment Company Act of 1940
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 939A Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AL02
Final or interim final rulemaking
80 FR 58124
09/25/2015
Federal Register Notices & Comments
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 2a-7 (17 CFR 270.2a-7) under the Investment Company Act of 1940, Money market funds
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
81,624
84,911
0
0
-3,287
0
Annual Time Burden (Hours)
632,725
632,244
481
0
0
0
Annual Cost Burden (Dollars)
92,900,000
92,900,000
0
0
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:
The total annual hour burden of 632,725 hours represents an increase of 481 hours over the previous burden estimate of 632,244 hours. The change in burden hours is due to the Commission’s estimates of the one-time time burdens that will result from our amendments. The currently approved cost burden did not change as a result of our amendments.
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:
James DeLesDernier 202 551-6749 delesdemierj@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:
12/08/2015
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