Temporary rule for principal trades with certain advisory clients, rule 206(3)-3T.

Forms and Documents

Document Name	Status
Rule 206(3)-3T Supporting statement.pdf Supporting Statement A	2014-05-22
Rule 206(3)-3T.pdf Supplementary Document	2011-01-03

IC Document Collections

IC ID	Document Title	Status
182044	Temporary rule for principal trades with certain advisory clients, rule 206(3)-3T	Modified

ICR Details

OMB Control No: 3235-0630	ICR Reference No: 201402-3235-006
Status: Historical Active	Previous ICR Reference No: 201101-3235-001
Agency/Subagency: SEC	Agency Tracking No: IM-270-571
Title: Temporary rule for principal trades with certain advisory clients, rule 206(3)-3T.
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: 07/23/2014
	Date Received in OIRA: 05/22/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2017	36 Months From Approved	07/31/2014
Responses	13,900	0	19,000
Time Burden (Hours)	139,358	0	378,992
Cost Burden (Dollars)	366,662	0	824,220

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Abstract: Temporary rule 206(3)-3T provides investment advisers who are registered with the Commission as broker-dealers relief by establishing an optional, alternative means for them to meet the requirements of section 206(3) of the Advisers Act when they act in a principal capacity in transactions with certain of their advisory clients.

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Authorizing Statute(s): US Code: 15 USC 80b-6A Name of Law: Investment Advisers Act of 1940
   US Code: 15 USC 80b-11(a) Name of Law: Investment Advisers Act of 1940
  

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:
	78 FR 72932	12/04/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 2014	02/07/2014
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
Temporary rule for principal trades with certain advisory clients, rule 206(3)-3T

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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	13,900	19,000	0	0	-5,100	0
Annual Time Burden (Hours)	139,358	378,992	0	0	-239,634	0
Annual Cost Burden (Dollars)	366,662	824,220	0	0	-457,558	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: We have reduced the estimated hour burden from 378,992 hours to 139,358 hours based on new information regarding the number of SEC-registered investment advisers that are also registered with the SEC as broker-dealers and the number of non-discretionary accounts held by such investment advisers. The revised numbers were obtained from Form ADVs filed through the Investment Adviser Registration Depository as of September 3, 2013. The number of responses per investment adviser and the number of hours per response have not changed since the previous estimate. We revised the burden costs – reducing the costs from $824,220 to $366,662– for the same reason.

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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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

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: 05/22/2014

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