[Federal Register Volume 89, Number 195 (Tuesday, October 8, 2024)]
[Notices]
[Page 81612]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-23161]


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SECURITIES AND EXCHANGE COMMISSION

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


Submission for OMB Review; Comment Request; Extension: Rule 
206(4)-7

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

    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.'' This collection of information is found at 17 CFR 
275.206(4)-7, and is mandatory. Rule 206(4)-7 under the Investment 
Advisers Act of 1940 (``Advisers Act'') requires each investment 
adviser registered with the Commission to (1) adopt and implement 
written policies and procedures reasonably designed to prevent 
violations of the Advisers Act and its rules, (2) review those 
compliance policies and procedures annually, and (3) designate a chief 
compliance officer who is responsible for administering the compliance 
policies and procedures. The rule 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 help ensure that 
investment advisers maintain comprehensive internal programs that 
promote the advisers' compliance with the Advisers Act and its rules. 
The Commission's examination and oversight staff may review the 
information collected to assess investment advisers' compliance 
programs. Responses provided to the Commission pursuant to the rule in 
the context of the Commission's examination and oversight program are 
generally 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 respondents to this information collection are investment 
advisers registered with the Commission. Updated data indicate that 
there were 15,441 advisers registered with the Commission as of 
December 31, 2023. Each respondent would produce one response, per 
year. Commission staff has estimated that compliance with rule 206(4)-7 
imposes an annual burden of approximately 90 hours per response. Based 
on this figure, Commission staff estimates a total annual burden of 
1,389,690 hours for this collection of information.
    The public may view background documentation for this information 
collection at the following website: www.reginfo.gov. Find this 
particular information collection by selecting ``Currently under 30-day 
Review--Open for Public Comments'' or by using the search function. 
Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
by November 7, 2024 to (i) <a href="/cdn-cgi/l/email-protection#eba6a9b3c5a4a6a9c5a4a2b9aac5b8aea8b48f8e9880b4848d8d82888e99ab848689c58e849bc58c849d"><span class="__cf_email__" data-cfemail="713c33295f3e3c335f3e3823305f2234322e1514021a2e1e171718121403311e1c135f141e015f161e07">[email protected]</span></a> 
and (ii) Austin Gerig, Director/Chief Data Officer, Securities and 
Exchange Commission, c/o Oluwaseun Ajayi, 100 F Street NE, Washington, 
DC 20549, or by sending an email to: <a href="/cdn-cgi/l/email-protection#9bcbc9dac4d6faf2f7f9f4e3dbe8fef8b5fcf4ed"><span class="__cf_email__" data-cfemail="27777566786a464e4b45485f6754424409404851">[email protected]</span></a>.

    Dated: October 2, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-23161 Filed 10-7-24; 8:45 am]
BILLING CODE 8011-01-P


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