Form ADV

Forms and Documents

Document Name	Status
Form SEC 1707 Form ADV Form and Instruction	Modified
pia-iard.pdf Supplementary Document	2017-05-23
Supporting Statement for Form ADV 2016 Adoption (5).pdf Supporting Statement A	2017-05-30

IC Document Collections

IC ID	Document Title	Status
34137	Form ADV Form and Instruction	Modified

ICR Details

OMB Control No: 3235-0049	ICR Reference No: 201609-3235-022
Status: Historical Active	Previous ICR Reference No: 201404-3235-001
Agency/Subagency: SEC	Agency Tracking No: IM-270-039
Title: Form ADV
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 08/23/2017
	Date Received in OIRA: 01/03/2017
Terms of Clearance: Updated during review.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2020	36 Months From Approved	02/28/2018
Responses	15,272	0	13,516
Time Burden (Hours)	363,082	0	154,402
Cost Burden (Dollars)	13,683,500	0	3,600,000

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Abstract: Form ADV under the Investment Advisers Act of 1940 is filed upon initial registration as an investment adviser and is also filed by exempt reporting advisers filing reports with the Commission, is updated on an annual basis by all advisers, and may be more frequently updated to correct certain material information.

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Authorizing Statute(s): US Code: 15 USC 80b-1 Name of Law: Investment Advisers Act of 1940
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL75	Final or interim final rulemaking	81 FR 60417	09/01/2016

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Form ADV	SEC 1707, SEC 1707, SEC 1707, SEC 1707, SEC 1707	Form ADV instructions ,   Form ADV Part1a ,   Form ADV Part 1B ,   Form ADV ,   Form ADV Execution

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	15,272	13,516	0	0	1,756	0
Annual Time Burden (Hours)	363,082	154,402	0	0	208,680	0
Annual Cost Burden (Dollars)	13,683,500	3,600,000	0	0	10,083,500	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: We estimate that amendments to Form ADV, the revised total aggregate annual hour burden for the form will be approximately 363,082 hours. This is an increase of 208,680 hours from the currently approved annual aggregate burden estimate, which is attributable primarily to the currently approved burden estimate not considering the amortized annual burden of Form ADV on existing registered advisers and exempt reporting advisers; but also to the larger registered investment adviser and exempt reporting adviser population since the most recent approval, adjustments for inflation, and the amendments to Form ADV. The resulting blended average per adviser burden for Form ADV is 23.77 hours, which consists of an average annual burden of 29.22 hours for each of the estimated 12,024 SEC registered advisers, and 3.60 hours for each of the estimated 3,248 exempt reporting advisers. Registered investment advisers are also expected to incur an annual cost burden of $13,683,500, an increase of $10,083,500 from the current approved cost burden estimate of $3,600,000. The increase in annual cost burden is attributable to the currently approved burden not considering the cost to advisers to fair value private fund assets. We do not anticipate that the amendments we are adopting to Form ADV will affect the per adviser cost burden estimates.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 01/03/2017

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