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:
3235-0769
ICR Reference No:
202505-3235-010
Status:
Active
Previous ICR Reference No:
202207-3235-011
Agency/Subagency:
SEC
Agency Tracking No:
IM
Title:
Rule 139b, Disclosure of Standardized Performance
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:
11/14/2025
Retrieve Notice of Action (NOA)
Date Received in OIRA:
08/11/2025
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
11/30/2028
36 Months From Approved
11/30/2025
Responses
5,091
0
4,834
Time Burden (Hours)
15,141
0
14,379
Cost Burden (Dollars)
0
0
0
Abstract:
Rule 139b under the Securities Act of 1933 (17 CFR 230.139b) allows unaffiliated broker-dealers participating in a securities offering of a registered investment fund to publish or distribute research reports about the investment fund without these reports being treated as offers that require registration under securities laws. When broker-dealers include performance information in these research reports, they must present it in a standardized format consistent with existing rules. This standardization protects investors from potentially misleading or confusing performance presentations, enable investors to make meaningful comparisons between different investment funds, and maintains market integrity by ensuring research reports are not disguised as marketing materials. Rule 139b is a third party disclosure requirement, with the primary recipients being investors and the general public who read these research reports published by broker-dealers.
Authorizing Statute(s):
US Code:
15 USC 77a
Name of Law: Securities Act of 1930
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:
90 FR 23722
06/04/2025
30-day Notice:
Federal Register Citation:
Citation Date:
90 FR 38686
08/11/2025
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 139b Disclosure of Standardized Performance
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
5,091
4,834
0
0
257
0
Annual Time Burden (Hours)
15,141
14,379
0
0
762
0
Annual Cost Burden (Dollars)
0
0
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 is 15,141 hours. The increase in burden hours over the previous burden estimate of 14,379 is due to the increase in Rule 139b filings. Additionally, we do not believe there to be an external cost burden associated with rule 139b.
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:
Gregory Scopino 202 551-3057
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:
08/11/2025
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