Proposed Collection; Comment Request; Extension: Regulation S-AM, 51727 [2022-18144]

Download as PDF Federal Register / Vol. 87, No. 162 / Tuesday, August 23, 2022 / Notices SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–548, OMB Control No. 3235–0609] lotter on DSK11XQN23PROD with NOTICES1 Proposed Collection; Comment Request; Extension: Regulation S–AM Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street, NE, Washington, DC 20549–2736 Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (‘‘Commission’’) is soliciting comments on the existing collection of information provided for in Regulation S–AM (17 CFR part 248, subpart B), under the Fair Credit Reporting Act (15 U.S.C. 1681 et seq.) (‘‘FCRA’’), the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.), the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.), and the Investment Advisers Act of 1940 (15 U.S.C. 80b–1 et seq.). The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Regulation S–AM implements the requirements of Section 624 of the FCRA (15 U.S.C. 1681s–3) with respect to investment advisers and transfer agents registered with the Commission, 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 has been given notice and a reasonable opportunity and a reasonable and simple method to opt out of such solicitations. Regulation S–AM potentially applies to all of the approximately 21,896 Covered Persons registered with the Commission, although only approximately 12,262 of them have one or more corporate affiliates, and the regulation requires only approximately 2,190 to provide consumers with an affiliate marketing notice and an opt-out opportunity. The Commission staff estimates that there are approximately 12,262 Covered Persons having one or more affiliates, and that they each spend an average of 0.20 hours per year to review affiliate marketing practices, for, collectively, an estimated annual time burden of approximately 2,452 hours at an annual internal compliance cost of approximately $1,444,228. The staff also VerDate Sep<11>2014 18:53 Aug 22, 2022 Jkt 256001 estimates that approximately 2,190 Covered Persons provide notice and optout opportunities to consumers, and that they each spend an average of 7.6 hours per year creating notices, providing notices and opt-out opportunities, monitoring the opt-out notice process, making and updating records of opt-out elections, and addressing consumer questions and concerns about opt-out notices, for, collectively, an estimated annual time burden of approximately 16,644 hours at an annual internal compliance cost of approximately $3,599,484. Thus, the staff estimates that the collection of information requires a total of approximately 12,262 respondents to incur an estimated total annual time burden of approximately 19,096 hours at a total annual internal cost of compliance of approximately $5,043,712. Written comments are invited on: (a) whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimates of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing by October 24, 2022. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. Please direct your written comments to: David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/o John Pezzullo, 100 F Street NE, Washington, DC 20549, or send an email to: PRA_ Mailbox@sec.gov. Dated: August 17, 2022. Jill M. Peterson, Assistant Secretary. [FR Doc. 2022–18144 Filed 8–22–22; 8:45 am] BILLING CODE 8011–01–P SOCIAL SECURITY ADMINISTRATION [Docket No. SSA–2022–0039] Privacy Act of 1974; Matching Program AGENCY: Social Security Administration (SSA). PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 51727 Notice of a new matching program. ACTION: In accordance with the provisions of the Privacy Act, as amended, this notice announces a new matching program with the Railroad Board (RRB). Under this matching program, the RRB will disclose to SSA information necessary to verify an individual’s self-certification of eligibility for the Extra Help with Medicare Prescription Drug Plan Costs program (Extra Help). It will also enable SSA to identify individuals who may qualify for Extra Help as part of the agency’s Medicare outreach efforts. DATES: The deadline to submit comments on the proposed matching program is September 22, 2022. The matching program will be applicable on October 1, 2022, or once a minimum of 30 days after publication of this notice has elapsed, whichever is later. The matching program will be in effect for a period of 18 months. ADDRESSES: You may submit comments by any one of three methods—internet, fax, or mail. Do not submit the same comments multiple times or by more than one method. Regardless of which method you choose, please state that your comments refer to Docket No. SSA–2022–0039 so that we may associate your comments with the correct regulation. CAUTION: You should be careful to include in your comments only information that you wish to make publicly available. We strongly urge you not to include in your comments any personal information, such as Social Security numbers or medical information. 1. Internet: We strongly recommend that you submit your comments via the internet. Please visit the Federal eRulemaking portal at https:// www.regulations.gov. Use the Search function to find docket number SSA– 2022–0039 and then submit your comments. The system will issue you a tracking number to confirm your submission. You will not be able to view your comment immediately because we must post each submission manually. It may take up to a week for your comments to be viewable. 2. Fax: Fax comments to (410) 966– 0869. 3. Mail: Matthew Ramsey, Executive Director, Office of Privacy and Disclosure, Office of the General Counsel, Social Security Administration, G–401 WHR, 6401 Security Boulevard, Baltimore, MD 21235–6401, or emailing Matthew.Ramsey@ssa.gov. Comments are also available for public viewing on SUMMARY: E:\FR\FM\23AUN1.SGM 23AUN1

Agencies

[Federal Register Volume 87, Number 162 (Tuesday, August 23, 2022)]
[Notices]
[Page 51727]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-18144]



[[Page 51727]]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-548, OMB Control No. 3235-0609]


Proposed Collection; Comment Request; Extension: Regulation S-AM

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street, NE, Washington, DC 
20549-2736

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and 
Exchange Commission (``Commission'') is soliciting comments on the 
existing collection of information provided for in Regulation S-AM (17 
CFR part 248, subpart B), under the Fair Credit Reporting Act (15 
U.S.C. 1681 et seq.) (``FCRA''), the Securities Exchange Act of 1934 
(15 U.S.C. 78a et seq.), the Investment Company Act of 1940 (15 U.S.C. 
80a-1 et seq.), and the Investment Advisers Act of 1940 (15 U.S.C. 80b-
1 et seq.). The Commission plans to submit this existing collection of 
information to the Office of Management and Budget (``OMB'') for 
extension and approval.
    Regulation S-AM implements the requirements of Section 624 of the 
FCRA (15 U.S.C. 1681s-3) with respect to investment advisers and 
transfer agents registered with the Commission, 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 has been given 
notice and a reasonable opportunity and a reasonable and simple method 
to opt out of such solicitations. Regulation S-AM potentially applies 
to all of the approximately 21,896 Covered Persons registered with the 
Commission, although only approximately 12,262 of them have one or more 
corporate affiliates, and the regulation requires only approximately 
2,190 to provide consumers with an affiliate marketing notice and an 
opt-out opportunity.
    The Commission staff estimates that there are approximately 12,262 
Covered Persons having one or more affiliates, and that they each spend 
an average of 0.20 hours per year to review affiliate marketing 
practices, for, collectively, an estimated annual time burden of 
approximately 2,452 hours at an annual internal compliance cost of 
approximately $1,444,228. The staff also estimates that approximately 
2,190 Covered Persons provide notice and opt-out opportunities to 
consumers, and that they each spend an average of 7.6 hours per year 
creating notices, providing notices and opt-out opportunities, 
monitoring the opt-out notice process, making and updating records of 
opt-out elections, and addressing consumer questions and concerns about 
opt-out notices, for, collectively, an estimated annual time burden of 
approximately 16,644 hours at an annual internal compliance cost of 
approximately $3,599,484. Thus, the staff estimates that the collection 
of information requires a total of approximately 12,262 respondents to 
incur an estimated total annual time burden of approximately 19,096 
hours at a total annual internal cost of compliance of approximately 
$5,043,712.
    Written comments are invited on: (a) whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates of the burden of the proposed collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information 
collected; and (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology. 
Consideration will be given to comments and suggestions submitted in 
writing by October 24, 2022.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    Please direct your written comments to: David Bottom, Director/
Chief Information Officer, Securities and Exchange Commission, c/o John 
Pezzullo, 100 F Street NE, Washington, DC 20549, or send an email to: 
[email protected].

    Dated: August 17, 2022.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2022-18144 Filed 8-22-22; 8:45 am]
BILLING CODE 8011-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.