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View ICR - OIRA Conclusion

OMB Control No: 3235-0585	ICR Reference No: 202407-3235-017
Status: Active	Previous ICR Reference No: 202111-3235-008
Agency/Subagency: SEC	Agency Tracking No: IM-270-523
Title: Investment Advisers Act rule 206(4)-7, 17 C.F.R. Sec. 275.206(4)- 7, Compliance procedures and practices.
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: 12/05/2024
	Date Received in OIRA: 10/08/2024
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2027	36 Months From Approved	02/28/2025
Responses	15,441	0	14,376
Time Burden (Hours)	1,389,690	0	1,293,840
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Adjustment in Estimate
Annual Number of Responses	15,441	14,376	1,065
Annual Time Burden (Hours)	1,389,690	1,293,840	95,850
Annual Cost Burden (Dollars)	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: We estimate that the annual aggregate time burden associated with rule 206(4)-7 will increase from 1,293,840 hours to 1,389,690 hours, resulting in an increase of 95,850 hours. We estimate that the annual aggregate monetized cost burden will increase from $322,036,776 to $406,901,232, resulting in an increase in $84,864,456. These increases are attributable to updated data. Rule 206(4)-7 requires, among other things, registered investment advisers to adopt and implement written policies and procedures reasonably designed to prevent violations of the Advisers Act and its rules. According to updated data, more advisers are registered with the Commission, therefore more respondents must comply with rule 204(6)-7, resulting in an increase in the number of responses. Additionally, we increased our hourly wage estimates to account for inflation.

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. No

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. 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? No

Agency Contact: Herman Brown 202 551-6110

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