Federal Register / Vol. 76, No. 2 / Tuesday, January 4, 2011 / Rules and Regulations 255 

1See e.g., rule 204–3 [17 CFR 275.204–3], which 

requires registered advisers to deliver brochures 

and brochure supplements. 

2Amendments to Form ADV, Investment 

Advisers Act Rel. No. 3060 (July 28, 2010) [75 FR 

49234 (Aug. 12, 2010)]. 

Issued in Kansas City, Missouri, on 

December 21, 2010. 

Earl Lawrence, 

Manager, Small Airplane Directorate, Aircraft 

Certification Service. 

[FR Doc. 2010–32798 Filed 1–3–11; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 39 

[Docket No. FAA–2010–0829; Directorate 

Identifier 2010–NE–23–AD; Amendment 39– 

16524; AD 2010–24–05] 

RIN 2120–AA64 

Airworthiness Directives; Pratt & 

Whitney Canada Corp. (P&WC) 

PW305A and PW305B Turbofan 

Engines 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final rule; correction. 

SUMMARY: The FAA is correcting an 

airworthiness directive (AD) that 

published in the Federal Register. That 

AD applies to the products listed above. 

The agency docket No. and the engine 

type in the subject heading and 

paragraph (c) in the Summary section 

and the Regulatory text are incorrect. 

This document corrects that error. In all 

other respects, the original document 

remains the same. 

DATES: This final rule is effective 

January 3, 2011. 

ADDRESSES: You may examine the AD 

docket on the Internet at http:// 

www.regulations.gov; or in person at the 

Docket Management Facility between 

9 a.m. and 5 p.m., Monday through 

Friday, except Federal holidays. The AD 

docket contains this AD, the regulatory 

evaluation, any comments received, and 

other information. The address for the 

Docket Office (phone: 800–647–5527) is 

Document Management Facility, U.S. 

Department of Transportation, Docket 

Operations, M–30, West Building 

Ground Floor, Room W12–140, 1200 

New Jersey Avenue, SE., Washington, 

DC 20590. 

FOR FURTHER INFORMATION CONTACT: 

James Lawrence, Aerospace Engineer, 

Engine Certification Office, FAA, 12 

New England Executive Park, 

Burlington, MA 01803; phone: (781) 

238–7176; fax: (781) 238–7199; e-mail: 

james.lawrence@faa.gov. 

SUPPLEMENTARY INFORMATION: 

Airworthiness Directive 2010–24–05, 

amendment 39–16524 (75 FR 72653, 

November 26, 2010), currently requires 

updating the airworthiness limitations 

section of the engine maintenance 

manuals for Pratt & Whitney Canada 

(P&WC) PW305A and PW305B turbofan 

engines. 

As published, the agency docket No. 

in the Summary section and the engine 

type in the Summary section and in the 

Regulatory text are incorrect. 

No other part of the preamble or 

regulatory information has been 

changed; therefore, only the changed 

portion of the final rule is being 

published in the Federal Register. 

The effective date of this AD remains 

January 3, 2011. 

Correction of Non-Regulatory Text 

In the Federal Register of November 

26, 2010, AD 2010–24–05; Amendment 

39–16524 is corrected as follows: 

On page 72653, in the third column, 

on line 19 under 14 CFR Part 39, change 

‘‘Docket No. FAA–2010–0892’’ to 

‘‘Docket No. FAA–2010–0829’’. 

On page 72653, in the third column, 

on line 25 under 14 CFR Part 39, change 

‘‘PW305A and PW305B Turboprop’’ to 

‘‘PW305A and PW305B Turbofan’’. 

Correction of Regulatory Text 

§ 39.13 [Corrected] 

■ In the Federal Register of November 

26, 2010, on page 72655, in the first 

column, paragraph (c) of AD 2010–24– 

05 is corrected to read as follows: 

* * * * * 

(c) This AD applies to Pratt & Whitney 

Canada Corp. (P&WC) PW305A and PW305B 

turbofan engines with certain impellers, part 

numbers (P/Ns) 30B2185, 30B2486, 

30B2858–01, or 30B4565–01 installed. These 

engines are installed on, but not limited to, 

Hawker-Beech Corporation BAe.125 series 

1000A, 1000B, and Hawker 1000 airplanes 

and Learjet Inc. Learjet 60 airplanes. 

* * * * * 

Issued in Burlington, Massachusetts, on 

December 22, 2010. 

Peter A. White, 

Assistant Manager, Engine & Propeller 

Directorate, Aircraft Certification Service. 

[FR Doc. 2010–33171 Filed 1–3–11; 8:45 am] 

BILLING CODE 4910–13–P 

SECURITIES AND EXCHANGE 

COMMISSION 

17 CFR Parts 275 and 279 

[Release No. IA–3129; File No. S7–10–00] 

RIN 3235–AI17 

Amendments To Form ADV; Extension 

of Compliance Date 

AGENCY: Securities and Exchange 

Commission. 

ACTION: Final rule; extension of 

compliance date. 

SUMMARY: The Securities and Exchange 

Commission is extending the 

compliance date for Part 2B of Form 

ADV, the brochure supplement, and for 

certain rule provisions that relate to the 

delivery of brochure supplements. The 

Commission is extending the 

compliance date generally for four 

months to provide certain investment 

advisers additional time to design, test 

and implement systems and controls to 

satisfy their obligations to prepare and 

deliver brochure supplements. 

DATES: The effective date for 

amendments to Part 2 of Form ADV and 

related rules under the Advisers Act 

remains October 12, 2010. The 

compliance date for Form ADV, Part 2B 

and the provisions of rule 204–3 

concerning the delivery of brochure 

supplements is extended generally for 

four months as described in the 

SUPPLEMENTARY INFORMATION section. 

FOR FURTHER INFORMATION CONTACT: 

Vivien Liu, Senior Counsel, or Daniel 

Kahl, Branch Chief, at (202) 551–6787 or 

IArules@sec.gov, Office of Investment 

Adviser Regulation, Division of 

Investment Management, U.S. Securities 

and Exchange Commission, 100 F 

Street, NE., Washington, DC 20549– 

8549. 

SUPPLEMENTARY INFORMATION: On July 

28, 2010, the Commission adopted 

amendments to Part 2 of Form ADV [17 

CFR 279.1], and related rules under the 

Investment Advisers Act of 1940 [15 

U.S.C. 80b] (‘‘Advisers Act’’),1 to require 

registered investment advisers to 

provide clients with a brochure and 

brochure supplements written in plain 

English (‘‘Adopting Release’’).2 The 

brochure contains information about the 

advisory firm, whereas the brochure 

supplement contains information about 

the advisory personnel on whom clients 

rely for investment advice. 

When we adopted amendments to 

Form ADV last July, we established two 

separate compliance dates for delivering 

brochure supplements. New investment 

adviser registrants, i.e., those that apply 

for registration on or after January 1, 

2011, would begin providing brochure 

supplements to clients upon registering. 

Existing investment adviser registrants 

would provide brochure supplements to 

new and prospective clients upon filing 

their annual updating amendment to 


wwoods2 on DSK1DXX6B1PROD with RULES_PART 1
256 Federal Register / Vol. 76, No. 2 / Tuesday, January 4, 2011 / Rules and Regulations 

3Based on Investment Adviser Registration 

Depository data as of December 1, 2010, 92% of 

SEC-registered investment advisers report a 

December fiscal year end. 

4Memorandum from Morgan Lewis on behalf of 

certain SIFMA member firms dated Dec. 16, 2010 

available at http://www.sec.gov/rules/proposed/ 

s71000.shtml. 

5The North American Securities Administrators 

Association has recommended that the State 

securities authorities provide the same extension 

for State-registered investment advisers. However, 

State-registered advisers should contact the States 

where they are registered to confirm compliance 

dates. 

6Advisers may choose to deliver brochure 

supplements earlier than the dates outlined in this 

release. 

7See Section 553(b)(3)(B) of the Administrative 

Procedure Act (5 U.S.C. 553(b)(3)(B)) (‘‘APA’’) (an 

agency may dispense with prior notice and 

comment when it finds, for good cause, that notice 

and comment are ‘‘impracticable, unnecessary, or 

contrary to the public interest’’). This finding also 

satisfies the requirements of 5 U.S.C. 808(2), 

allowing the rules to become effective 

notwithstanding the requirement of 5 U.S.C. 801 (if 

a Federal agency finds that notice and public 

comment are ‘‘impractical, unnecessary or contrary 

to the public interest,’’ a rule ‘‘shall take effect at 

such time as the Federal agency promulgating the 

rule determines’’). Also, because the Regulatory 

Flexibility Act (5 U.S.C. 601–612) only requires 

agencies to prepare analyses when the 

Administrative Procedures Act requires general 

notice of rulemaking, that Act does not apply to the 

actions that we are taking in this release. The 

change to the compliance date is effective upon 

publication in the Federal Register. This date is less 

than 30 days after publication in the Federal 

Register, in accordance with the APA, which allows 

effectiveness in less than 30 days after publication 

for ‘‘a substantive rule which grants or recognizes 

an exemption or relieves a restriction.’’ See 5 U.S.C. 

553(d)(1). 

Form ADV for fiscal year ends 

beginning on December 31, 2010, and to 

existing clients within 60 days of filing 

the annual updating amendment. Most 

registered advisers have fiscal years 

ending on December 31 and must, as a 

result, file an annual updating 

amendment by March 31, 2011.3 Absent 

an extension of the compliance date, 

these advisers would be required to 

deliver their first brochure supplements 

to new and prospective clients no later 

than March 31, 2011 and to existing 

clients no later than May 31, 2011. 

We have received correspondence 

from the Securities Industry and 

Financial Markets Association 

(‘‘SIFMA’’), requesting that we delay the 

compliance date for at least an 

additional four months, until July 31, 

2011, solely with respect to 

requirements regarding delivery of the 

brochure supplement.4 SIFMA asserts 

that preparing and disseminating 

brochures with respect to thousands of 

supervised persons to tens of thousands 

of clients presents its members with 

substantial logistical challenges in 

meeting the compliance date. It asserts 

that its members need additional time to 

design, test and implement systems and 

controls that will assure that each client 

receives an accurate brochure 

supplement with respect to the 

supervised person who provides advice 

to that client. 

Based on the concerns expressed in 

the correspondence, and in light of 

similar concerns that have been 

expressed by other investment advisers 

to our staff, we are persuaded that a 

limited extension of the compliance 

date for the delivery of brochure 

supplements for existing registered 

advisers is appropriate.5 We have based 

this decision on the information SIFMA 

has provided and our experience in 

overseeing the industry. In addition, to 

provide consistent treatment for newly 

registering advisers, we are also 

persuaded that the limited extension of 

the compliance date for the delivery of 

brochure supplements is appropriate for 

these advisers as well. We are not 

extending the compliance date for the 

filing and delivery of the brochure 

required by Part 2A of Form ADV and 

related rules under the Advisers Act, 

which is required for newly registering 

investment advisers beginning on 

January 1, 2011, and for existing 

registered advisers when they file their 

annual updating amendments for fiscal 

years ending on and after December 31, 

2010. 

Accordingly, the Commission believes 

it is appropriate to modify and extend 

the compliance date for brochure 

supplements for the following 

investment advisers: 6

Existing Registered Investment 

Advisers. All investment advisers 

registered with the Commission as of 

December 31, 2010, and having a fiscal 

year ending on December 31, 2010 

through April 30, 2011, have until July 

31, 2011, to begin delivering brochure 

supplements to new and prospective 

clients. These advisers have until 

September 30, 2011 to deliver brochure 

supplements to existing clients. The 

compliance dates for delivering 

brochure supplements for existing 

registered investment advisers with 

fiscal years ending after April 30, 2011 

remain unchanged. 

Newly-registered Investment Advisers. 

All newly registered investment 

advisers filing their applications for 

registration from January 1, 2011 

through April 30, 2011, have until May 

1, 2011 to begin delivering brochure 

supplements to new and prospective 

clients. These advisers have until July 1, 

2011 to deliver brochure supplements to 

existing clients. The compliance dates 

for delivering brochure supplements for 

newly-registered investment advisers 

filing applications for registration after 

April 30, 2011 remain unchanged. 

The Commission finds that, for good 

cause and the reasons cited above, 

including the brief length of the 

extension we are granting, notice and 

solicitation of comment regarding the 

extension of the compliance date for 

Part 2B of Form ADV and the provisions 

of rule 204–3 that relate to the delivery 

of brochure supplements are 

impracticable, unnecessary, or contrary 

to the public interest.7 In this regard, the 

Commission also notes that investment 

advisers need to be informed as soon as 

possible of the extension and its length 

in order to plan and adjust their 

implementation process accordingly. 

Dated: December 28, 2010. 

By the Commission. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–33142 Filed 1–3–11; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF HEALTH AND 

HUMAN SERVICES 

Food and Drug Administration 

21 CFR Part 50 

[Docket No. FDA–2009–N–0592] 

RIN No. 0910–AG32 

Informed Consent Elements 

AGENCY: Food and Drug Administration, 

HHS. 

ACTION: Final rule. 

SUMMARY: The Food and Drug 

Administration (FDA) is amending the 

current informed consent regulations to 

require that informed consent 

documents and processes for applicable 

drug (including biological products) and 

device clinical trials include a specific 

statement that clinical trial information 

will be entered into a databank. The 

databank referred to in this final rule is 

the clinical trial registry databank 

maintained by the National Institutes of 

Health/National Library of Medicine 

(NIH/NLM) which was created by 

statute. The submission of clinical trial 

information to this data bank also is 

required by statute. This amendment to 

the informed consent regulations is 

required by the Food and Drug 

Administration Amendments Act of 

2007 (FDAAA) and is designed to 

promote transparency of clinical 

research to participants and patients. 

DATES: Effective date: This rule is 

effective March 7, 2011. 


wwoods2 on DSK1DXX6B1PROD with RULES_PART 1