The Securities and Exchange Commission (SEC) is asking for public comments on a rule regarding information collection under the Paperwork Reduction Act. This rule, known as Rule 0-4, provides guidelines for submitting applications to the SEC for exemptions from certain requirements of the Investment Advisers Act. The SEC estimates that it receives around seven applications per year, with varying costs based on complexity—these costs range from approximately $15,259 to $238,762. The public can submit comments on the necessity and efficiency of this information collection until May 19, 2025.
Simple Explanation
The Securities and Exchange Commission (SEC) is asking people what they think about a rule that helps them figure out how to ask for special permission to skip some rules. They want to know if this rule is needed and if it works well, and people have until May 19, 2025, to tell them.