Document ID: SEC-2020-1261-0003
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2023-05-08T04:00Z

[Federal Register Volume 88, Number 88 (Monday, May 8, 2023)]
[Notices]
[Pages 29729-29730]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-09674]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-481, OMB Control No. 3235-0538]

Submission for OMB Review; Comment Request; Extension: Form ADV-H

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 (``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 ``Form ADV-H under 
the Investment Advisers Act of 1940.'' Form ADV-H (17 CFR 279.3) under 
the Investment Advisers Act of 1940 (``Advisers Act'') is the 
application that investment advisers use to request a hardship 
exemption from making Advisers Act filings electronically with the 
Investment Adviser Registration Depository (``IARD'').
    There are two types of hardship exemptions from making Advisers Act 
filings through IARD: a temporary hardship exemption and a continuing 
hardship exemption. Advisers Act rule 203-3 (17 CFR 275.203-3) sets 
forth requirements for both temporary hardship exemptions and 
continuing hardship exemptions for advisers registered or registering 
with the Commission. Advisers Act rule 204-4(e) (17 CFR 275.204-4(e)) 
sets forth requirements for temporary hardship exemptions for exempt 
reporting advisers.
    A temporary hardship exemption is available to advisers registered 
or registering with the Commission, as well as exempt reporting 
advisers, if the adviser has unanticipated technical difficulties that 
prevent it from submitting a filing to the IARD system. To apply for a 
temporary hardship exemption, the adviser must file Form

[[Page 29730]]

ADV-H in paper format no later than one business day after the subject 
filing was due, and submit the subject filing electronically through 
IARD no later than seven business days after the subject filing was 
due. The temporary hardship exemption is granted when the adviser files 
the completed Form ADV-H.
    A continuing hardship exemption provides an exemption from 
electronic filing for no more than one year. It is available to certain 
advisers registered or registering with the Commission; it is not 
available to exempt reporting advisers. Such adviser must be a small 
business and be able to demonstrate that the electronic filing 
requirements are prohibitively burdensome or expensive. To apply for a 
continuing hardship exemption, an adviser must file Form ADV-H at least 
ten business days before a filing is due. The Commission will grant or 
deny the application within ten business days after the adviser files 
Form ADV-H. If the Commission approves the application, the adviser may 
submit filings to FINRA in paper format for the period of time for 
which the exemption is granted.
    The purpose of the collection of information is to enable the 
Commission to process requests for temporary hardship exemptions and to 
determine whether to grant a continuing hardship exemption from the 
requirement for advisers to make Advisers Act filings electronically 
through IARD.
    Respondents are investment advisers registered or registering with 
the Commission, as well as exempt reporting advisers. Based on our 
experience and data, we estimate that there are 20,926 respondents, 
consisting of 15,414 registered investment advisers and 5,512 exempt 
reporting advisers. Of those respondents, we estimate that we would 
receive one response annually, and each response would take 
approximately one hour to complete. Therefore, we estimate an annual 
aggregate burden of one hour for this collection of information.
    The collection of information does not require recordkeeping or 
records retention. The collection of information requirements are 
mandatory. The information collected is a filing with the Commission, 
and is 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 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 June 7, 2023 to (i) [email protected] and 
(ii) David Bottom, Director/Chief Information Officer, Securities and 
Exchange Commission, c/o John Pezzullo, 100 F Street NE, Washington, DC 
20549, or by sending an email to: [email protected].

    Dated: May 2, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-09674 Filed 5-5-23; 8:45 am]
BILLING CODE 8011-01-P