Rule 20a-1 under the Investment Company Act of 1940, Solicitation of Proxies, Consents and Authorizations

Forms and Documents

Document Name	Status
Rule Text 20a-1.rtf Supplementary Document	2006-08-31
Supporting Statement.doc Supporting Statement A	2009-08-06

IC Document Collections

IC ID	Document Title	Status
34463	Rule 20a-1 under the Investment Company Act of 1940, Solicitation of Proxies, Consents and Authorizations	Modified

ICR Details

OMB Control No: 3235-0158	ICR Reference No: 200903-3235-011
Status: Historical Active	Previous ICR Reference No: 200608-3235-005
Agency/Subagency: SEC	Agency Tracking No: IM-270-132
Title: Rule 20a-1 under the Investment Company Act of 1940, Solicitation of Proxies, Consents and Authorizations
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: 08/19/2009
	Date Received in OIRA: 06/08/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2012	36 Months From Approved	11/30/2009
Responses	1,225	0	1,565
Time Burden (Hours)	130,095	0	166,203
Cost Burden (Dollars)	18,375,000	0	23,475,000

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Abstract: Rule 20a-1 requires that the solicitation of a proxy, consent or authorization with respect to a security issued by an investment company registered under the Investment Company Act of 1940 be in compliance with the Commission's proxy rules (e.g., Regulation 14A and Schedule 14A) to enable security holders to make informed voting decisions. Also, rule 20a-1 instructs registered investment companies, that have made a public offering of securities and that hold security holder votes for which proxies, consents, or authorizations are not being solicited, to refer to the Commission's rules governing information statements (e.g. Regulation 14C and Schedule 14C).

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Authorizing Statute(s): US Code: 15 USC 80a-20(a) Name of Law: Investment Company Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 13275	03/26/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 27208	06/08/2009
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Rule 20a-1 under the Investment Company Act of 1940, Solicitation of Proxies, Consents and Authorizations

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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	1,225	1,565	0	0	-340	0
Annual Time Burden (Hours)	130,095	166,203	0	0	-36,108	0
Annual Cost Burden (Dollars)	18,375,000	23,475,000	0	0	-5,100,000	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 adjustment to the internal hours and external cost burdens is due to the increase in the number of proxy solicitations filed annually since the 2003 estimate currently in OMB inventory. The number of proxy solicitations filed increased approximately 50 percent from 1,058 in 2003 to the Commission’s current estimate of 1,565.

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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]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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: 06/08/2009

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