Notice2023-06963
Proposed Collection; Comment Request; Extension: Rule 203-2 & Form ADV-W
Primary source
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Published
April 4, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 64 (Tuesday, April 4, 2023)</title>
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[Federal Register Volume 88, Number 64 (Tuesday, April 4, 2023)]
[Notices]
[Pages 20014-20015]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-06963]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-40, OMB Control No. 3235-0313]
Proposed Collection; Comment Request; Extension: Rule 203-2 &
Form ADV-W
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'') is soliciting comments on the collection of
information summarized below. The Commission plans to submit this
existing collection of information to the Office of Management and
Budget for extension and approval.
The title for the collection of information is ``Rule 203-2 (17 CFR
275.203-2) and Form ADV-W (17 CFR 279.2) under the Investment Advisers
Act of 1940 (15 U.S.C. 80b).'' Rule 203-2 under the Investment Advisers
Act of 1940 establishes procedures for an investment adviser to
withdraw its registration or pending registration with the Commission.
Rule 203-2 requires every person withdrawing from investment adviser
registration with the Commission to file Form ADV-W electronically on
the Investment Adviser Registration Depository
[[Page 20015]]
(``IARD''). The purpose of the information collection is to notify the
Commission and the public when an investment adviser withdraws its
pending or approved SEC registration. Typically, an investment adviser
files a Form ADV-W when it ceases doing business or when it is
ineligible to remain registered with the Commission.
The respondents to the collection of information are all investment
advisers that are registered with the Commission or have applications
pending for registration. The Commission has estimated that compliance
with the requirement to complete Form ADV-W imposes a total burden of
approximately 0.75 hours (45 minutes) for an adviser filing for full
withdrawal and approximately 0.25 hours (15 minutes) for an adviser
filing for partial withdrawal. Based on historical filings, the
Commission estimates that there are approximately 769 respondents
annually filing for full withdrawal and approximately 647 respondents
annually filing for partial withdrawal. Based on these estimates, the
total estimated annual burden would be 739 hours ((769 respondents x
.75 hours) + (647 respondents x .25 hours)).
Rule 203-2 and Form ADV-W do not require recordkeeping or records
retention. The collection of information requirements under the rule
and form are mandatory. The information collected pursuant to the rule
and Form ADV-W are filings with the Commission. 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. Written comments are invited
on: (a) whether the proposed collection of information is necessary for
the proper performance of the functions of the Commission, including
whether the information shall have practical utility; (b) the accuracy
of the Commission's estimate of the burden of the collection of
information; (c) ways to enhance the quality, utility, and clarity of
the information collected; and (d) ways to minimize the burden of the
collection of information on respondents, including through the use of
automated collection techniques or other forms of information
technology. Consideration will be given to comments and suggestions
submitted by June 5, 2023.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information under the PRA unless it
displays a currently valid OMB control number.
Please direct your written comments to: David Bottom, Director/
Chief Information Officer, Securities and Exchange Commission, c/o John
Pezzullo, 100 F Street NE, Washington, DC 20549 or send an email to:
<a href="/cdn-cgi/l/email-protection#b3e3e1f2ecfed2dadfd1dccbf3c0d6d09dd4dcc5"><span class="__cf_email__" data-cfemail="37676576687a565e5b55584f7744525419505841">[email protected]</span></a>.
Dated: March 30, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-06963 Filed 4-3-23; 8:45 am]
BILLING CODE 8011-01-P
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