
[Federal Register Volume 78, Number 120 (Friday, June 21, 2013)]
[Notices]
[Page 37602]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-14800]


-----------------------------------------------------------------------

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 204-3, OMB Control No. 3235-0047, SEC File No. 270-42.

    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 
(``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 204-3 (17 CFR 
275.204-3) under the Investment Advisers Act of 1940.'' (15 U.S.C. 
80b). Rule 204-3, the ``brochure rule,'' requires advisers to deliver 
their brochures and brochure supplements at the start of an advisory 
relationship and to deliver annually thereafter the full updated 
brochure or a summary of material changes to their brochure. The rule 
also requires that advisers deliver an amended brochure or brochure 
supplement (or just a statement describing the amendment) to clients 
only when disciplinary information in the brochure or supplement 
becomes materially inaccurate.
    The brochure assists the client in determining whether to retain, 
or continue employing, the adviser. The information that Rule 204-3 
requires to be contained in the brochure is also used by the Commission 
and staff in its enforcement, regulatory, and examination programs. 
This collection of information is found at 17 CFR 275.204-3 and is 
mandatory.
    The respondents to this information collection are investment 
advisers registered with the Commission. The Commission has estimated 
that compliance with rule 204-3 imposes a burden of approximately 31 
hours annually based on an average adviser having 1,200 clients. Our 
latest data indicate that there were 10,754 advisers registered with 
the Commission as of January 2, 2013. Based on this figure, the 
Commission estimates a total annual burden of 331,456 hours for this 
collection of information.
    Rule 204-3 does not require recordkeeping or record retention. The 
collection of information requirements under the rule are mandatory. 
The information collected pursuant to the rule is not filed with the 
Commission, but rather takes the form of disclosures to clients and 
prospective clients. Accordingly, these disclosures are not kept 
confidential. 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: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 
6432 General Green Way, Alexandria, VA 22312 or by sending an email to: 
PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: June 17, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-14800 Filed 6-20-13; 8:45 am]
BILLING CODE 8011-01-P


