[Federal Register Volume 78, Number 83 (Tuesday, April 30, 2013)]
[Notices]
[Pages 25321-25322]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-10144]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.
Extension:
    Rule 204A-1, OMB Control No. 3235-0596, SEC File No. 270-536.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (the ``Commission'') is soliciting comments on the 
collections of information summarized below. The Commission plans to 
submit these existing collections of information to the Office of 
Management and Budget for extension and approval.
    The title for the collection of information is ``Rule 204A-1 (17 
CFR 275.204A-1) under the Investment Advisers Act of 1940'' (15 U.S.C. 
80b-1 et seq.) Rule 204A-1 (the ``Code of Ethics Rule'') requires 
investment advisers registered with the Commission to (i) set forth 
standards of conduct expected of advisory personnel (including 
compliance with the federal securities laws); (ii) safeguard material 
nonpublic information about client transactions; and (iii) require the 
adviser's ``access persons'' to report their personal securities 
transactions, including transactions in any mutual fund managed by the 
adviser. The Code of Ethics Rule requires access persons to obtain the 
adviser's approval before investing in an initial public offering or

[[Page 25322]]

private placement. The Code of Ethics Rule also requires prompt 
reporting, to the adviser's chief compliance officer or another person 
designated in the code of ethics, of any violations of the code. 
Finally, the Code of Ethics Rule requires the adviser to provide each 
supervised person with a copy of the code and any amendments, and 
require the supervised persons to acknowledge, in writing, their 
receipt of these copies.
    The purposes of the information collection requirements are to: (i) 
Ensure that advisers maintain codes of ethics applicable to their 
supervised persons; (ii) provide advisers with information about the 
personal securities transactions of their access persons for purposes 
of monitoring such transactions; (iii) provide advisory clients with 
information with which to evaluate advisers' codes of ethics; and (iv) 
assist the Commission's examination staff in assessing the adequacy of 
advisers' codes of ethics and assessing personal trading activity by 
advisers' supervised persons.
    The respondents to this information collection are investment 
advisers registered with the Commission. The Commission has estimated 
that compliance with rule 204A-1 imposes a burden of approximately 118 
hours per adviser annually for an estimated total annual burden of 
1,255,342 hours.
    An agency may not conduct or sponsor a collection of information 
unless it displays a currently valid OMB control number. No person 
shall be subject to any penalty for failing to comply with a collection 
of information subject to the PRA that does not display a valid OMB 
control number.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information will 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden of the collection of information; (c) ways to enhance the 
quality, utility, and clarity of the information collected; and (d) 
ways to minimize the burden of the collection of information on 
respondents, including through the use of automated collection 
techniques or other forms of information technology. Consideration will 
be given to comments and suggestions submitted in writing within 60 
days of this publication.
    Please direct your written comments to Thomas Bayer, Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 6432 General Green Way, Alexandria, VA 22312; or send an 
email to: [email protected].

     Dated: April 24, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-10144 Filed 4-29-13; 8:45 am]
BILLING CODE 8011-01-P