81 FR 12761 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 47 (March 10, 2016)

[Federal Register Volume 81, Number 47 (Thursday, March 10, 2016)]
[Notices]
[Pages 12761-12762]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-05331]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-523, OMB Control No. 3235-0585]


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 
20549-2736.

Extension: Rule 206(4)-7.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (the ``Commission'') has submitted to the Office of 
Management and Budget (``OMB'') a request for extension of the 
previously approved collection of information discussed below.
    The title for the collection of information is ``Investment 
Advisers Act rule 206(4)-7 (17 CFR 275.206(4)-7), Compliance procedures 
and practices.'' Rule 206(4)-7 requires each investment adviser 
registered with the Commission to (i) adopt and implement internal 
compliance policies and procedures, (ii) review those policies and 
procedures annually, (iii) designate a chief compliance officer, and 
(iv) maintain certain compliance records. Rule 206(4)-7 is designed to 
protect investors by fostering better compliance with the securities 
laws. The collection of information under rule 206(4)-7 is necessary to 
assure that investment advisers maintain comprehensive internal 
programs that promote the advisers' compliance with the Investment 
Advisers Act of 1940. The information collection in the rule also 
assists the Commission's examination staff in assessing the adequacy 
advisers' compliance programs. This collection of information is found 
at 17 CFR 275.206(4)-7 and is mandatory.
    The information documented pursuant to rule 206(4)-7 is reviewed by 
the Commission's examination staff; it will be accorded the same level 
of confidentiality accorded to other responses provided to the 
Commission in the context of its examination and

[[Page 12762]]

oversight program. An agency may not conduct or sponsor, and a person 
is not required to respond to, a collection of information unless it 
displays a currently valid control number.
    The respondents to this information collection are investment 
advisers registered with the Commission. Our latest data indicate that 
there were 12,026 advisers registered with the Commission as of 
November 1, 2015. The Commission has estimated that compliance with 
rule 206(4)-7 imposes an annual burden of approximately 87 hours per 
respondent. Based on this figure, the Commission estimates a total 
annual burden of 1,046,262 hours for this collection of information.
    The public may view the background documentation for this 
information collection at the following Web site, www.reginfo.gov. 
Comments should be directed to: (i) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, DC 20503, or by sending an email to: 
[email protected]; and (ii) Pamela Dyson, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549 or send an email 
to: [email protected]. Comments must be submitted to OMB within 30 
days of this notice.

    Dated: March 4, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-05331 Filed 3-9-16; 8:45 am]
 BILLING CODE 8011-01-P