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View ICR - Agency Submission
COMMENT
Time Remaining
Days
HR
Min
Sec
OMB Control No:
3235-0609
ICR Reference No:
202511-3235-006
Status:
Received in OIRA
Previous ICR Reference No:
202208-3235-015
Agency/Subagency:
SEC
Agency Tracking No:
TM
Title:
Regulation S-AM: Limitations on Affilate Marketing
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
Date Submitted to OIRA:
01/30/2026
Requested
Previously Approved
Expiration Date
36 Months From Approved
04/30/2026
Responses
15,063
14,452
Time Burden (Hours)
19,899
19,096
Cost Burden (Dollars)
0
0
Abstract:
Regulation S-AM implements the requirements of Section 624 of the Federal Credit Reporting Act (15 U.S.C. 1681s-3) with respect to investment advisers and transfer agents registered with the Securities and Exchange Commission (“SEC”), as well as brokers, dealers and investment companies (collectively, “Covered Persons”). Section 624 and Regulation S-AM limit a Covered Person’s use of certain consumer financial information received from an affiliate to solicit a consumer for marketing purposes, unless the consumer was given notice and a reasonable opportunity and a reasonable and simple method to opt out of such solicitations. This serves the SEC’s mission in protecting investors from abuse or fraud.
Authorizing Statute(s):
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
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
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:
90 FR 54814
11/28/2025
30-day Notice:
Federal Register Citation:
Citation Date:
91 FR 4153
01/30/2026
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 Request
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
15,063
14,452
0
0
611
0
Annual Time Burden (Hours)
19,899
19,096
0
0
803
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 change in total annual time burden from 19,096 hours to 19,899 hours resulted from an increase in the number of entities subject to Regulation S-AM (the estimated number of Covered Persons having one or more affiliates increased from approximately 12,262 to approximately 12,781, and the estimated number of Covered Persons required to provide notice and opt-out opportunities increased from approximately 2,190 to approximately 2,282). Based on the changes described, the estimated total annual time burden of the collection of information changed from 19,096 hours (2,452 + 16,644) to 19,899 hours (2,282 + 12,781).
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
No
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
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?
No
Agency Contact:
Jane Wetterau 202 551-4483
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:
01/30/2026
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