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

Forms and Documents

Document Name	Status
Rule 20a-1 under ICA.doc Supplementary Document	2009-12-10
OMB Supporting Statement Proxy Disc Enhancement (12-10-09).doc Supporting Statement A	2009-12-10

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: 200912-3235-010
Status: Historical Inactive	Previous ICR Reference No: 200903-3235-011
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: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Preapproved	Conclusion Date: 01/29/2010
	Date Received in OIRA: 12/10/2009
Terms of Clearance: Pre-approval contingent upon no substantive changes to this collection after adoption of the final rule. Otherwise this collection should be re-submitted to OMB for review.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2013	36 Months From Approved	08/31/2012
Responses	1,225	0	1,225
Time Burden (Hours)	139,283	0	130,095
Cost Burden (Dollars)	19,600,000	0	18,375,000

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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-29, 80a-38 Name of Law: Investment Company Act of 1940
   US Code: 15 USC 77c(b), 77e, 77f, 77s(a) Name of Law: Securities Act of 1933
   US Code: 15 USC 78l, 78m, 78n, 78o(d), 78w(a) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 80a-8, 80a-20(a), 80a-24(a), Name of Law: Investment Company Act of 1940
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AK28	Proposed rulemaking	74 FR 35076	07/17/2009

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Federal Register Notices & Comments

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 Request	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	1,225	0	0	0	0
Annual Time Burden (Hours)	139,283	130,095	0	9,188	0	0
Annual Cost Burden (Dollars)	19,600,000	18,375,000	0	1,225,000	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The amendments proposed in Release No. 33-9052 would require additional disclosure regarding compensation policies and corporate governance, and facilitate shareholder communications relating to voting and investment decisions. The increase in the burden associated with Rule 20a-1 is necessary in order to enhance the transparency of director and nominee qualifications, board leadership structure, and the board’s oversight of risk. The proposal will result in an increase of 9,188 burden hours and an increase in the cost burden of $1,225,000 for services of outside professionals. For a more detailed discussion, please refer to the supporting statement.

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Annual Cost to Federal Government: $75,000

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: 12/10/2009

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