§ 80a–30.
(a)
Maintenance of records
(2)
Minimizing compliance burden
In exercising its authority under this subsection, the Commission shall take such steps as it deems necessary or appropriate, consistent with the public interest and for the protection of investors, to avoid unnecessary recordkeeping by, and minimize the compliance burden on, persons required to maintain records under this subsection (hereafter in this section referred to as “subject persons”). Such steps shall include considering, and requesting public comment on—
(A)
feasible alternatives that minimize the recordkeeping burdens on subject persons;
(B)
the necessity of such records in view of the public benefits derived from the independent scrutiny of such records through Commission examination;
(C)
the costs associated with maintaining the information that would be required to be reflected in such records; and
(D)
the effects that a proposed recordkeeping requirement would have on internal compliance policies and procedures.
([Aug. 22, 1940, ch. 686], title I, § 31, [54 Stat. 838]; [Pub. L. 104–290, title II, § 207], Oct. 11, 1996, [110 Stat. 3430]; [Pub. L. 105–353, title III, § 301(c)(6)], Nov. 3, 1998, [112 Stat. 3237]; [Pub. L. 111–203, title IX], §§ 929I(b), 929Q(a), July 21, 2010, [124 Stat. 1858], 1865; [Pub. L. 111–257, § 1(b)], Oct. 5, 2010, [124 Stat. 2646].)