Employee Benefits Security Administration, Department of Labor.
The Department of Labor (the Department), in accordance with the Paperwork Reduction Act of 1995 (PRA 95) (44 U.S.C. 3506(c)(2)(A)), provides the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information. This helps the Department assess the impact of its information collection requirements and minimize the reporting burden on the public, and the public understand the Department's information collection requirements and provide the requested data in the desired format. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments on a proposed extension of the current approval of information collection provisions incorporated in the regulation pertaining to electronic registration of investment managers under ERISA. A copy of the information collection request (ICR) can be obtained by contacting the office shown in the Addresses section of this notice.
Written comments must be submitted to the office shown in the Addresses section on or before January 26, 2010.
Direct all written comments to G. Christopher Cosby, Office of Policy and Research, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, NW., Room N-5647, Washington, DC 20210. Telephone: (202) 693-8410; Fax: (202) 219-4745. These are not toll-free numbers. Comments may also be submitted electronically to the following Internet e-mail address: email@example.com.End Preamble Start Supplemental Information
Section 3(38)(B) of the Employee Retirement Income Security Act of 1974 (ERISA) imposes certain registration requirements on an investment adviser that wishes to be considered an investment manager under ERISA. In 1997, section 3(38) was amended to permit advisers to satisfy the registration requirements by registering electronically with the Investment Adviser Registration Depository (IARD) established and maintained by the Securities Exchange Commission (SEC). The Department promulgated a final regulation (69 FR 52120, Aug. 24, 2004) to implement the statutory change. The final regulation is codified at 29 CFR 2510.3-38. EBSA submitted an ICR requesting OMB approval of the information collection contained in 29 CFR 2510.3-38 when the proposed regulation was published, and OMB approved the information collection under OMB control number 1210-0125. The approval is scheduled to expire on February 28, 2010. The Department intends, following receipt of comments pursuant to this notice, to submit an ICR to OMB requesting an extension of its approval of this information collection. The public is not required to respond to an information collection unless it displays a valid OMB control number. No change to the existing ICR is being proposed or made at this time.
II. Desired Focus of Comments
The Department is particularly interested in comments that:
- Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility;
- Evaluate the accuracy of the agency's estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used;
- Enhance the quality, utility, and clarity of the information to be collected; and
- Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., by permitting electronic submissions of responses.
III. Current Actions
This notice requests comments on an extension of OMB's approval of the information collections included in 29 CFR 2510.3-38. The Department is not proposing or implementing changes to the existing ICR at this time. A summary of the ICR and the current burden estimates follows:
Agency: Employee Benefits Security Administration, Department of Labor.
Title: ERISA Investment Manager Electronic Registration.
Type of Review: Extension of a currently approved collection of information.
OMB Number: 1210-0125.
Affected Public: Business or other for-profit; not-for-profit institutions.
Estimated Total Burden Hours: 1,000.
Estimated Total Burden Cost (Operating and Maintenance): $50,000.
Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval; they will also become a matter of public record.Start Signature
Dated: November 9, 2009.
Joseph S. Piacentini,
Director, Office of Policy and Research, Employee Benefits Security Administration.
[FR Doc. E9-28381 Filed 11-25-09; 8:45 am]
BILLING CODE 4510-29-P