On 27 January 2022, SEC issued extension of info collection, revised burden estimates.
- Comments on collection due 30 days from publication of extension, by 26 February 2022.
Background:
On 14 December 2021, SEC issued a notice requesting comment on Form 13F.
- SEC issued a notice requesting comments on revisions to Form 13F, for institutional investment managers to report with SEC if they exercise investment discretion
- Over accounts with equity securities that are over the reporting threshold.
Revised Estimates
- SEC revised its estimates for hourly burden, costs of report, consistent with proposed rule adjusting estimates due to SEC's belief that currently approved estimates do not appropriately reflect the information collection costs associated with Form 13F.
- SEC revised estimated annual burden per filer from 80.8 hours to 11 hours, as time to comply with form 13F reduced due to advances in technology since form 1st adopted.
- Current burden estimates include total of 472,521.6 hours, with cost burden of $31,186,426; revised burden is 67,242 hours, with total cost burden of $18,580,283.
