FR Doc E6-18232
[Federal Register: October 31, 2006 (Volume 71, Number 210)]
[Notices]
[Page 63784-63785]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr31oc06-77]
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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
[[Page 63785]]
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 2, 2007.
ADDRESSES: Direct all written comments to Susan G. Lahne, 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, August 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 January 31, 2007. 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.
Joseph S. Piacentini,
Director, Office of Policy and Research, Employee Benefits Security
Administration.
[FR Doc. E6-18232 Filed 10-30-06; 8:45 am]
BILLING CODE 4510-29-P