SEC seeks comment on extending Rule 0-5 information collection

The Securities and Exchange Commission published a 60-day notice (FR Doc No. 2026-20400; OMB Control No. 3235-0780) proposing to extend the information collection required by Rule 0-5 under the Investment Company Act. The rule governs applications for exemptions or other relief and applies to investment companies and their affiliated persons.

Rule 0-5(e) obligates applicants seeking expedited review to include a cover page notation, marked exhibits of two precedent applications, and a signed cover letter identifying those applications and certifying compliance. Rule 0-5(g) requires a written response to any clarification request within 120 days, or the application is deemed withdrawn. The Commission estimates it receives approximately 188 applications per year, of which about 47 are expedited and 141 are standard review.

For in-house counsel, the expedited requirements add an estimated 7 hours or $5,418 per application, resulting in an annual burden of roughly 65.80 hours and $50,929.20. The standard-review "in writing" requirement adds 2 hours or $1,548 per affected application, yielding an estimated annual burden of about 5.64 hours and $4,365.36.

Written comments on the necessity, burden estimates, and potential improvements are to be sent to Austin Gerig, Director/Chief Data Officer, SEC, c/o Tanya Ruttenberg via email by December 7, 2026.