[Federal Register Volume 60, Number 57 (Friday, March 24, 1995)] [Notices] [Page 15613] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 95-7236] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Under Review by Office of Management and Budget Acting Agency Clearance Officer: David T. Copenhafer, (202) 942-8800. Upon Written Request, Copy Available From: Securities and Exchange Commission, Office of Filings and Information Services, 450 Fifth Street NW., Washington, D.C. 20549. Proposed Rule and Form: Rule 204-4--File No. 270-398; Form ADV-B--File No. 270-398. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1980 (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission has submitted for OMB approval Rule 204-4 and Form ADV-B under the Investment Advisers Act of 1940 (the ``Advisers Act''). The proposed rule would require each investment adviser, registered or required to be registered under the Adviser Act, that has the discretion to direct client brokerage transactions and receives services other than execution in exchange for that brokerage, to provide its clients with a report that would contain information about its use of client brokerage. The proposed form would set forth the information required to be included in the annual report. The proposed rule does not involve any burden separate from the requirement to prepare and file the proposed form. It is estimated that approximately 6,000 advisers would be required to file Form ADV-B with the Commission, and that each adviser completing the form would incur 20 burden hours in its preparation. The estimate of burden hours is made solely for the purposes of the Paperwork Reduction Act and is not derived from a comprehensive or even representative survey or study of the cost of SEC rules and forms. General comments may be directed to the OMB Clearance Officer for the Securities and Exchange Commission at the address below. Comments concerning the accuracy of the estimated average burden hours for compliance with Commission rules and forms should be directed to David T. Copenhafer, Acting Director, Office of Information Technology, Securities and Exchange Commission, 450 Fifth Street NW., Washington, D.C. 20549, and to the OMB Clearance Officer for the SEC, Office of Information and Regulatory Affairs (Paperwork Reduction Act numbers 3235--new (for Rule 204-4), 3235--new (for Form ADV-B), Office of Management and Budget, Room 3208, New Executive Office Building, Washington, D.C. 20543. Dated: March 9, 1995. Margaret H. McFarland, Deputy Secretary. [FR Doc. 95-7236 Filed 3-23-95; 8:45 am] BILLING CODE 8010-01-M