

[Federal Register: January 3, 2008 (Volume 73, Number 2)]
[Notices]               
[Page 512-513]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr03ja08-55]                         

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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 Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension: Rule 206(4)-7; SEC File No. 270-523; OMB Control No. 
3235-0585.

    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 Advisers Act. 
The information collection in the rule also assists the Commission's 
examination staff in assessing the

[[Page 513]]

adequacy of advisers' compliance programs. This collection of 
information 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 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 10,817 advisers registered with the Commission as of 
September 30, 2007. The Commission has estimated that compliance with 
rule 206(4)-7 imposes an annual burden of approximately 80 hours per 
respondent. Based on this figure, the Commission estimates a total 
annual burden of 865,360 hours for this collection of information.
    Please direct general comments regarding the above information to 
the following persons: (i) Desk Officer for the Securities and Exchange 
Commission, Office of Management and Budget, Room 10102, New Executive 
Office Building, Washington, DC 20503 or e-mail to: 
Alexander_T._Hunt@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief Information 

Officer, Securities and Exchange Commission, C/O Shirley Martinson, 
6432 General Green Way, Alexandria, VA 22312 or send an e-mail to: 
PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days 

of this notice.

    Dated: December 20, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-25523 Filed 1-2-08; 8:45 am]

BILLING CODE 8011-01-P
