[Federal Register Volume 87, Number 13 (Thursday, January 20, 2022)]
[Notices]
[Page 3135]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-01061]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-523, OMB Control No. 3235-0585]
Submission for OMB Review; Comment Request; Extension: Rule
206(4)-7
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736
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'') has submitted to the Office of
Management and Budget (``OMB'') a request for extension of the
previously approved collection of information discussed below.
The title for the collection of information is ``Investment
Advisers Act rule 206(4)-7, 17 CFR Sec. 275.206(4)-7, Compliance
procedures and practices.'' This collection of information is found at
17 CFR 275.206(4)-7, and is mandatory. Rule 206(4)-7 under the
Investment Advisers Act of 1940 (``Advisers Act'') requires each
investment adviser registered with the Commission to (1) adopt and
implement written policies and procedures reasonably designed to
prevent violations of the Advisers Act and its rules, (2) review those
compliance policies and procedures annually, and (3) designate a chief
compliance officer who is responsible for administering the compliance
policies and procedures. The rule is designed to protect investors by
fostering better compliance with the securities laws. The collection of
information under rule 206(4)-7 is necessary to help ensure that
investment advisers maintain comprehensive internal programs that
promote the advisers' compliance with the Advisers Act and its rules.
The Commission's examination and oversight staff may review the
information collected to assess investment advisers' compliance
programs. Responses provided to the Commission pursuant to the rule in
the context of the Commission's examination and oversight program are
generally kept confidential. An agency may not conduct or sponsor, and
a person is not required to respond to, a collection of information
unless it displays a currently valid control number.
The respondents to this information collection are investment
advisers registered with the Commission. Updated data indicate that
there were 14,376 advisers registered with the Commission as of August
2021. Each respondent would produce one response, per year. Commission
staff has estimated that compliance with rule 206(4)-7 imposes an
annual burden of approximately 90 hours per response. Based on this
figure, Commission staff estimates a total annual burden of 1,293,840
hours for this collection of information.
The public may view the background documentation for this
information collection at the following website, www.reginfo.gov.
Comments should be directed to: (1) Desk Officer for the Securities and
Exchange Commission, Office of Information and Regulatory Affairs,
Office of Management and Budget, Room 10102, New Executive Office
Building, Washington, DC 20503, or by sending an email to:
[email protected]; and (2) David Bottom, Director/Chief
Information Officer, Securities and Exchange Commission, c/o John R.
Pezzullo, 100 F Street NE, Washington, DC 20549 or send an email to:
[email protected]. Written comments and recommendations for the
proposed information collection should be sent within 30 days of
publication of this notice to www.reginfo.gov/public/do/PRAMain. Find
this particular information collection by selecting ``Currently under
30-day Review--Open for Public Comments'' or by using the search
function.
Dated: January 14, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-01061 Filed 1-19-22; 8:45 am]
BILLING CODE 8011-01-P