Proposed Extension of Information Collection; Comment Request; ERISA Investment Manager Electronic Registration, 62350 [E9-28381]

Agencies

• Employee Benefits Security Administration
• DEPARTMENT OF LABOR

[Federal Register Volume 74, Number 227 (Friday, November 27, 2009)]
[Notices]
[Page 62350]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-28381]


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DEPARTMENT OF LABOR

Employee Benefits Security Administration


Proposed Extension of Information Collection; Comment Request; 
ERISA Investment Manager Electronic Registration

AGENCY: Employee Benefits Security Administration, Department of Labor.

ACTION: Notice.

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SUMMARY: 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.

DATES: Written comments must be submitted to the office shown in the 
Addresses section on or before January 26, 2010.

ADDRESSES: 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: 
ebsa.opr@dol.gov.

SUPPLEMENTARY INFORMATION:

I. Background

    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.
    Respondents: 500.
    Responses: 500.
    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.

    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