View Information Collection Request (ICR) Package
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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:
3235-0609
ICR Reference No:
201308-3235-011
Status:
Historical Active
Previous ICR Reference No:
201010-3235-004
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-548
Title:
Regulation S-AM: Limitations on Affilate Marketing
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 without change
Conclusion Date:
03/24/2014
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/23/2013
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
03/31/2017
36 Months From Approved
03/31/2014
Responses
13,105
0
2,150
Time Burden (Hours)
17,318
0
21,500
Cost Burden (Dollars)
0
0
0
Abstract:
Regulation S-AM implements Section 214 of the Fair and Accurate Credit Transactions Act of 2003 and requires that, before a company may use certain financial information about a consumer that it receives from an affiliate to make marketing solicitations to that consumer, the consumer must be provided notice and an opportunity to opt out of receiving such solicitations.
Authorizing Statute(s):
US Code:
15 USC 80a-30(a), 80a-37, 80b-4
Name of Law: Section 31 and 38 of the Investment Company Act of 1940, and sections 204 and 211 of the Investment
US Code:
15 USC 78q, 78q-1, 78w, 78mm
Name of Law: Sections 17, 17A, 23, and 36 of the Securities Exchange Act of 1934
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:
78 FR 56759
09/13/2013
30-day Notice:
Federal Register Citation:
Citation Date:
78 FR 69714
11/20/2013
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
2
IC Title
Form No.
Form Name
Regulation S-AM
Regulation S-AM: Limitations on Affilate Marketing
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
13,105
2,150
0
0
10,955
0
Annual Time Burden (Hours)
17,318
21,500
0
0
-4,182
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 reduction in annual time burden from 21,500 hours to 17,318 hours resulted from a reduction in the number of entities subject to Regulation S-AM (the estimated number of Covered Persons having one or more affiliates changed from approximately 12,038 to approximately 11,119, and the estimated number of Covered Persons required to provide notice and opt-out opportunities to consumers changed from approximately 2,150 to approximately 1,986), revised estimates of times needed for compliance, and conversion of some one-time burdens into continuing burdens.
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:
Brice Prince 202 551-5595
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:
12/23/2013
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