81 FR 23793 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 78 (April 22, 2016)

Page Range		23793-23793
FR Document		2016-09358

Federal Register, Volume 81 Issue 78 (Friday, April 22, 2016)

[Federal Register Volume 81, Number 78 (Friday, April 22, 2016)]
[Notices]
[Page 23793]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-09358]


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SECURITIES AND EXCHANGE COMMISSION


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 204A-1, SEC File No. 270-536, OMB Control No. 3235-0596.

    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 a request for extension of the previously 
approved collection of information discussed below.
    The title for the collection of information is ``Rule 204A-1 (17 
CFR 275.204A-1) under the Investment Advisers Act of 1940.'' (15 U.S.C. 
80b-1 et seq.) Rule 204A-1 (the ``Code of Ethics Rule'') requires 
investment advisers registered with the SEC to (i) set forth standards 
of conduct expected of advisory personnel (including compliance with 
the federal securities laws); (ii) safeguard material nonpublic 
information about client transactions; and (iii) require the adviser's 
``access persons'' to report their personal securities transactions, 
including transactions in any mutual fund managed by the adviser. The 
Code of Ethics Rule requires access persons to obtain the adviser's 
approval before investing in an initial public offering (``IPO'') or 
private placement. The Code of Ethics Rule also requires prompt 
reporting, to the adviser's chief compliance officer or another person 
designated in the code of ethics, of any violations of the code. 
Finally, the Code of Ethics Rule requires the adviser to provide each 
supervised person with a copy of the code of ethics and any amendments, 
and require the supervised persons to acknowledge, in writing, their 
receipt of these copies. The purposes of the information collection 
requirements are to (i) ensure that advisers maintain codes of ethics 
applicable to their supervised persons; (ii) provide advisers with 
information about the personal securities transactions of their access 
persons for purposes of monitoring such transactions; (iii) provide 
advisory clients with information with which to evaluate advisers' 
codes of ethics; and (iv) assist the Commission's examination staff in 
assessing the adequacy of advisers' codes of ethics and assessing 
personal trading activity by advisers' supervised persons.
    The respondents to this information collection are investment 
advisers registered with the Commission. The Commission has estimated 
that compliance with rule 204A-1 imposes a burden of approximately 118 
hours per adviser annually based on an average adviser having 84 access 
persons. Our latest data indicate that there were 12,028 advisers 
registered with the Commission. Based on this figure, the Commission 
estimates a total annual burden of 1,418,703 hours for this collection 
of information.
    Rule 204A-1 does not require recordkeeping or record retention. The 
collection of information requirements under the rule is mandatory. The 
information collected pursuant to the rule is not filed with the 
Commission, but rather takes the form of communications between 
advisers and their supervised persons. Investment advisers use the 
information collected to control and assess the personal trading 
activities of their supervised persons. Responses to the reporting 
requirements will be kept confidential to the extent each investment 
adviser provides confidentiality under its particular practices and 
procedures. 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 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: April 19, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-09358 Filed 4-21-16; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 81, No. 78 / Friday, April 22, 2016 / Notices 23793

with respect to the consents to service 275.204A–1) under the Investment advisers use the information collected to
of process, for a period of not less than Advisers Act of 1940.’’ (15 U.S.C. 80b– control and assess the personal trading
six years after the applicable person 1 et seq.) Rule 204A–1 (the ‘‘Code of activities of their supervised persons.
ceases engaging in U.S. securities Ethics Rule’’) requires investment Responses to the reporting requirements
activities. Reliance on the exemption set advisers registered with the SEC to (i) will be kept confidential to the extent
forth in Rule 15a–6 is voluntary, but if set forth standards of conduct expected each investment adviser provides
a foreign broker-dealer elects to rely on of advisory personnel (including confidentiality under its particular
such exemption, the collection of compliance with the federal securities practices and procedures. An agency
information described therein is laws); (ii) safeguard material nonpublic may not conduct or sponsor, and a
mandatory. The collection does not information about client transactions; person is not required to respond to, a
involve confidential information. and (iii) require the adviser’s ‘‘access collection of information unless it
An agency may not conduct or persons’’ to report their personal displays a currently valid control
sponsor, and a person is not required to securities transactions, including number.
respond to, a collection of information transactions in any mutual fund The public may view the background
under the PRA unless it displays a managed by the adviser. The Code of documentation for this information
currently valid OMB control number. Ethics Rule requires access persons to collection at the following Web site,
The public may view background obtain the adviser’s approval before www.reginfo.gov. Comments should be
documentation for this information investing in an initial public offering directed to: (i) Desk Officer for the
collection at the following Web site, (‘‘IPO’’) or private placement. The Code Securities and Exchange Commission,
www.reginfo.gov. Comments should be of Ethics Rule also requires prompt Office of Information and Regulatory
directed to: (i) Desk Officer for the reporting, to the adviser’s chief Affairs, Office of Management and
Securities and Exchange Commission, compliance officer or another person Budget, Room 10102, New Executive
Office of Information and Regulatory designated in the code of ethics, of any Office Building, Washington, DC 20503,
Affairs, Office of Management and violations of the code. Finally, the Code or by sending an email to: Shagufta_
Budget, Room 10102, New Executive of Ethics Rule requires the adviser to Ahmed@omb.eop.gov; and (ii) Pamela
Office Building, Washington, DC 20503, provide each supervised person with a Dyson, Director/Chief Information
or by sending an email to: Shagufta_ copy of the code of ethics and any Officer, Securities and Exchange
Ahmed@omb.eop.gov; and (ii) Pamela amendments, and require the Commission, c/o Remi Pavlik-Simon,
Dyson, Director/Chief Information supervised persons to acknowledge, in 100 F Street NE., Washington, DC 20549
Officer, Securities and Exchange writing, their receipt of these copies. or send an email to: PRA_Mailbox@
Commission, c/o Remi Pavlik-Simon, The purposes of the information sec.gov. Comments must be submitted to
100 F Street NE., Washington, DC collection requirements are to (i) ensure OMB within 30 days of this notice.
20549, or by sending an email to: PRA_ that advisers maintain codes of ethics
applicable to their supervised persons; Dated: April 19, 2016.
Mailbox@sec.gov. Comments must be
(ii) provide advisers with information Robert W. Errett,
submitted to OMB within 30 days of
about the personal securities Deputy Secretary.
this notice.
transactions of their access persons for [FR Doc. 2016–09358 Filed 4–21–16; 8:45 am]
Dated: April 19, 2016. purposes of monitoring such BILLING CODE 8011–01–P
Robert W. Errett, transactions; (iii) provide advisory
Deputy Secretary. clients with information with which to
[FR Doc. 2016–09359 Filed 4–21–16; 8:45 am] evaluate advisers’ codes of ethics; and SECURITIES AND EXCHANGE
BILLING CODE 8011–01–P (iv) assist the Commission’s COMMISSION
examination staff in assessing the [Release No. 34–77636; File No. SR-
adequacy of advisers’ codes of ethics BatsEDGX–2016–12]
SECURITIES AND EXCHANGE and assessing personal trading activity
COMMISSION by advisers’ supervised persons. Self-Regulatory Organizations; Bats
The respondents to this information EDGX Exchange, Inc.; Notice of Filing
Submission for OMB Review; collection are investment advisers and Immediate Effectiveness of a
Comment Request registered with the Commission. The Proposed Rule Change To Adopt
Upon Written Request, Copies Available Commission has estimated that Exchange Rule 14.10 Setting Forth
From: Securities and Exchange compliance with rule 204A–1 imposes a Additional Requirements for the
Commission, Office of FOIA Services, burden of approximately 118 hours per Listing of Securities That Are Issued
100 F Street NE., Washington, DC adviser annually based on an average by the Exchange or Any of Its Affiliates
20549–2736. adviser having 84 access persons. Our
latest data indicate that there were April 18, 2016.
Extension: 12,028 advisers registered with the Pursuant to Section 19(b)(1) of the
Rule 204A–1, SEC File No. 270–536, OMB Commission. Based on this figure, the Securities Exchange Act of 1934 (the
Control No. 3235–0596.
Commission estimates a total annual ‘‘Act’’),1 and Rule 19b–4 thereunder,2
Notice is hereby given that, pursuant burden of 1,418,703 hours for this notice is hereby given that on April 13,
to the Paperwork Reduction Act of 1995 collection of information. 2016, Bats EDGX Exchange, Inc. (the
(44 U.S.C. 3501 et seq.), the Securities Rule 204A–1 does not require ‘‘Exchange’’ or ‘‘EDGX’’) filed with the
mstockstill on DSK4VPTVN1PROD with NOTICES

and Exchange Commission (the recordkeeping or record retention. The Securities and Exchange Commission
‘‘Commission’’) has submitted to the collection of information requirements (‘‘Commission’’) the proposed rule
Office of Management and Budget a under the rule is mandatory. The change as described in Items I and II
request for extension of the previously information collected pursuant to the below, which Items have been prepared
approved collection of information rule is not filed with the Commission, by the Exchange. The Exchange has
discussed below. but rather takes the form of
The title for the collection of communications between advisers and 1 15 U.S.C. 78s(b)(1).
information is ‘‘Rule 204A–1 (17 CFR their supervised persons. Investment 2 17 CFR 240.19b–4.

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Document Created: 2017-08-22 23:36:54
Document Modified: 2017-08-22 23:36:54

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		81 FR 23793