Rule 203A-5

Forms and Documents

Document Name	Status
Rule 203A-5 Supporting Statement (6-24-11 draft 2).docx Supporting Statement A	2011-06-30

IC Document Collections

IC ID	Document Title	Status
195690	Rule 203A-5	Modified

ICR Details

OMB Control No: 3235-0688	ICR Reference No: 201106-3235-022
Status: Historical Active	Previous ICR Reference No: 201012-3235-009
Agency/Subagency: SEC	Agency Tracking No: IM-270-631
Title: Rule 203A-5
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/19/2011
	Date Received in OIRA: 07/19/2011
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2014	36 Months From Approved
Responses	3,900	0	0
Time Burden (Hours)	49,323	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Rule 203A-5 under the Investment Advisers Act of 1940 provides for a transitional process by which an adviser no longer eligible for Commission registration would transition to state registration. Each investment adviser registered with the Commission on January 1, 2012 will be required to file an amendment to its Form ADV (3235-0049), and an adviser no longer eligible for Commission registration will have to withdraw its registration by filing Form ADV-W. The PRA burden of the Form ADV-W (3235-0313) filings is reflected in the revised PRA burden for Form ADV-W.

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Authorizing Statute(s): US Code: 15 USC 80b-11(a) Name of Law: Investment Advisers Act of 1940
   US Code: 15 USC 80b-3a(c) Name of Law: Investment Advisers Act of 1940
   PL: Pub.L. 111 - 203 410 Name of Law: Dodd-Frank Wall Street Reform and Consumer Pretection Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 410 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AK82	Final or interim final rulemaking	76 FR 42950	07/19/2011

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? Yes

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

IC Title	Form No.	Form Name
Rule 203A-5

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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	3,900	0	3,900	0	0	0
Annual Time Burden (Hours)	49,323	0	49,323	0	0	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 new collection of information burden for rule 203A-5 is attributable to the requirement that the advisers registered with the Commission on January 1, 2012 after the Dodd-Frank Act becomes effective file Form ADV to identify whether they remain eligible for Commission registration or need to transition to state registration as a result of the Dodd-Frank Act.

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Annual Cost to Federal Government:

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]? No

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

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: 07/19/2011

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