Document ID: SEC-2007-1698-0001
Agency: sec
Document Type: Notice
Title: Agency information collection activities; proposals, submissions, and approvals
Posted Date: 2007-12-13T05:00Z

[Federal Register: December 13, 2007 (Volume 72, Number 239)]
[Notices]               
[Page 70907]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr13de07-102]                         

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

    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 an investment adviser 
to deliver their brochure to their new clients or prospective clients 
before or at the start of the advisory relationship. The brochure 
assists the client in determining whether to retain, or continue 
employing, the adviser. Rule 204-3 also requires that an investment 
adviser deliver, or offer in writing to deliver upon written request, 
the brochure to their existing clients annually in order to provide 
them with current information about the adviser. Under rule 204-3, the 
investment adviser must furnish the required information to clients and 
prospective clients by providing either a copy of Part II of Form ADV, 
the investment adviser registration form, or a written document 
containing at least the information required by Part II of Form ADV. 
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 
639.87 hours annually based on an average adviser having 670 clients. 
Our latest data indicate that there were 10,787 advisers registered 
with the Commission as of August 31, 2007. Based on this figure, the 
Commission estimates a total annual burden of 6,902,278 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 are not filed with the 
Commission, but rather take the form of disclosures to clients. 
Accordingly, these filings 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.
    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 6, 2007.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-24081 Filed 12-12-07; 8:45 am]

BILLING CODE 8011-01-P