Investment Company Act Rule 38a-1, 17 C.F.R 270.38a-1, Compliance procedures and practices of registered investment companies.

Forms and Documents

Document Name	Status
38a-1 Supporting Statement (Valuation RM 2020).pdf Supporting Statement A	2021-01-19

IC Document Collections

IC ID	Document Title	Status
35444	Investment Company Act rule 38a-1, 17 C.F.R. Sec. 270.38a-1, Compliance procedures and practices of registered investment companies.	Modified

ICR Details

OMB Control No: 3235-0586	ICR Reference No: 202101-3235-013
Status: Received in OIRA	Previous ICR Reference No: 202008-3235-014
Agency/Subagency: SEC	Agency Tracking No: IM-270-522
Title: Investment Company Act Rule 38a-1, 17 C.F.R 270.38a-1, Compliance procedures and practices of registered investment companies.
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 01/19/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	01/31/2024
Responses	9,804	4,093
Time Burden (Hours)	451,408	235,720
Cost Burden (Dollars)	2,000	0

---

Abstract: Rule 38a-1 requires registered investment companies and business development companies to adopt and implement compliance policies and procedures, to review those policies and procedures annually, and to maintain certain records.

---

Authorizing Statute(s): US Code: 15 USC 80a-30(a) Name of Law: Investment Company Act of 1940: Maintenance of Records
   US Code: 15 USC 80a-37(a) Name of Law: Investment Company Act of 1940: Powers of Commission
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 939A Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AM71	Proposed rulemaking	85 FR 28734	05/13/2020

---

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
Investment Company Act rule 38a-1, 17 C.F.R. Sec. 270.38a-1, Compliance procedures and practices of registered investment companies.

---

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	9,804	4,093	0	5,711	0	0
Annual Time Burden (Hours)	451,408	235,720	0	215,688	0	0
Annual Cost Burden (Dollars)	2,000	0	0	2,000	0	0

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

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: The estimated total annual burden hours increased 215,688 hours, from 235,720 hours to 451,408 hours and an increase in external costs from $0 to $2,000. This increase in burden hours and external costs is attributable to additional burdens associated with the Commission’s adoption of rules 2a-5 and 31a-4.

---

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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? No

---

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: 01/19/2021

---