Form ADV

Forms and Documents

Document Name	Status
Form SEC 1707 Form ADV Form and Instruction	Modified
Form ADV - Supporting Statement (ESG).pdf Supporting Statement A	2022-09-01

IC Document Collections

IC ID	Document Title	Status
34137	Form ADV Form and Instruction	Modified

ICR Details

OMB Control No: 3235-0049	ICR Reference No: 202209-3235-002
Status: Received in OIRA	Previous ICR Reference No: 202108-3235-017
Agency/Subagency: SEC	Agency Tracking No: IM-270-039
Title: Form ADV
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 09/01/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved	10/31/2024
Responses	19,387	18,179
Time Burden (Hours)	305,065	433,004
Cost Burden (Dollars)	30,892,092	14,125,083

---

Abstract: Form ADV is a three-part investment adviser registration form. Part 1 of Form ADV contains information used primarily by the Securities and Exchange Commission (“Commission”) staff, and Part 2 is the client brochure. Part 3 requires registered investment advisers that offer services to retail investors to prepare and file with the Commission, post to the adviser’s website (if it has one), and deliver to retail investors a relationship summary. The Commission uses the information in Form ADV to determine eligibility for registration with us and to manage our regulatory and examination programs. Clients use the information required in Form ADV to determine whether to hire or retain an investment adviser, as well as what types of accounts and services are appropriate for their needs. The Commission uses the information on Form ADV to determine eligibility for registration and to manage regulatory and examination programs. Clients use the information required in Form ADV to determine whether to hire or retain an investment adviser.

---

Authorizing Statute(s): US Code: 15 USC 80b-11 Name of Law: Investment Advisers Act of 1940
   US Code: 15 USC 80b-3 Name of Law: Investment Advisers Act of 1940
   US Code: 15 USC 80b-4 Name of Law: Investment Advisers Act of 1940
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AM96	Proposed rulemaking	87 FR 36654	06/17/2022

---

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
Form ADV	SEC 1707, SEC 1707, SEC 1707, SEC 1707, SEC 1707	Form ADV instructions ,   Form ADV Part1a ,   Form ADV Part 1B ,   Form ADV ,   Form ADV Execution

---

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	19,387	18,179	0	1,208	0	0
Annual Time Burden (Hours)	305,065	433,004	0	-127,939	0	0
Annual Cost Burden (Dollars)	30,892,092	14,125,083	0	16,767,009	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The estimated annual burden hours associated with Form ADV has decreased from 433,004 hours to 305,064.73 hours (a decrease of 127,939.27 hours). In addition, the external cost burden associated with Form ADV has increased from $14,125,083 to $30,892,092.00 (an increase of $16,767,009). The changes in annual burden hours and external cost burden are due to our proposed amendments to Form ADV requiring advisers to provide clients and prospective clients with information regarding the adviser’s environmental, social, and governance practices; and a change in the our approach to calculating the initial and ongoing burdens of completing Form ADV.

---

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.     Yes

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.     Yes

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? 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: 09/01/2022

---