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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3235-0610
ICR Reference No:
201304-3235-016
Status:
Historical Active
Previous ICR Reference No:
201005-3235-013
Agency/Subagency:
SEC
Agency Tracking No:
IM-270-549
Title:
Rule 248.30; 17 C.F.R Sec. 248.30, Procedures to safegard customer records and information; disposal of consumer report information.
Type of Information Collection:
Extension without change of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved with change
Conclusion Date:
10/28/2013
Retrieve Notice of Action (NOA)
Date Received in OIRA:
07/16/2013
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2016
36 Months From Approved
10/31/2013
Responses
20,556
0
21,225
Time Burden (Hours)
42,750
0
87,460
Cost Burden (Dollars)
0
0
0
Abstract:
Rule 248.30(a)requires broker-dealers, investment companies, and investment advisers registered with the Commission to document in writing policies and procedures to safeguard customer records and information.
Authorizing Statute(s):
US Code:
15 USC 6801
Name of Law: Gramm-Leach-Bliley Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
77 FR 6361
01/30/2013
30-day Notice:
Federal Register Citation:
Citation Date:
78 FR 20698
04/08/2013
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Rule 248.30; 17 C.F.R Sec. 248.30, Procedures to safegard customer records and information; disposal of consumer report information.
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
20,556
21,225
0
0
-669
0
Annual Time Burden (Hours)
42,750
87,460
0
0
-44,710
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The decrease in estimated total annual time burden from 87,460 hours to 42,750 hours reflects the elimination of the staff's estimated hourly burden for entities that update their policies and procedures under the rule, because such updates are not considered to be part of the compliance burden of the rule. The staff is no longer including these activities in its burden estimates because such updates are not required by the rule. For purposes of our analysis, hourly burdens and external costs associated with voluntary actions that are not required by the rule are not considered to be part of the compliance burden of the rule. The decrease is also attributable to a decrease in the staff's estimated hourly burden for entities that adopt new policies and procedures under the rule.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Daniel Chang 2025516792 changd@sec.gov
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
07/16/2013
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