Rule 2a-7 (17 CFR 270.2a-7) under the Investment Company Act of 1940, Money market funds

Forms and Documents

Document Name	Status
Rule 2a-7 Supporting Statement (2014).docx Supporting Statement A	2015-01-27

IC Document Collections

IC ID	Document Title	Status
34717	Rule 2a-7	Modified

ICR Details

OMB Control No: 3235-0268	ICR Reference No: 201408-3235-022
Status: Historical Active	Previous ICR Reference No: 201307-3235-001
Agency/Subagency: SEC	Agency Tracking No: IM-270-258
Title: Rule 2a-7 (17 CFR 270.2a-7) under the Investment Company Act of 1940, Money market funds
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/29/2015
	Date Received in OIRA: 09/04/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2018	36 Months From Approved	02/29/2016
Responses	84,911	0	102,379
Time Burden (Hours)	632,244	0	517,228
Cost Burden (Dollars)	92,900,000	0	92,900,000

---

Abstract: Rule 2a-7 exempts money market funds from the valuation requirements of the Investment Company Act of 1940, and, subject to certain risk-limiting conditions, permits money market funds to use the amortized cost method of asset valuation or the penny-rounding method of share pricing.

---

Authorizing Statute(s): US Code: 15 USC 80a-37(a) Name of Law: Investment Company Act of 1940
   US Code: 15 USC 80a-6(c) Name of Law: Investment Company Act of 1940
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AK61	Final or interim final rulemaking	79 FR 47736	08/14/2014

---

Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

---

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

IC Title	Form No.	Form Name
Rule 2a-7

---

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	84,911	102,379	0	-17,468	0	0
Annual Time Burden (Hours)	632,244	517,228	0	115,016	0	0
Annual Cost Burden (Dollars)	92,900,000	92,900,000	0	0	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 total annual time burden of 632,244 hours represents an increase of 115,016 hours over the previous burden hour estimate of 517,228 hours. The change in burden hours is due to the Commission's estimates of the time that will result from our amendments. The currently approved cost burden did not change as a result of our amendments.

---

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

---

Common Form ICR:  No

---

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: 09/04/2014

---