Submission for OMB Review; Comment Request; Extension: Regulation S-AM, 65628 [2022-23570]

Download as PDF 65628 Federal Register / Vol. 87, No. 209 / Monday, October 31, 2022 / Notices the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings under Section 19(b)(2)(B) 14 of the Act to determine whether the proposed rule change should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: khammond on DSKJM1Z7X2PROD with NOTICES Electronic Comments • Use the Commission’s internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– NYSECHX–2022–23 on the subject line. Paper Comments • Send paper comments in triplicate to: Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to File Number SR–NYSECHX–2022–23. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s internet website (https://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for website viewing and printing in the Commission’s Public Reference Room, 100 F Street NE, Washington, DC 20549 on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–NYSECHX–2022–23 and should be submitted on or before November 21, 2022. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.15 J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2022–23580 Filed 10–28–22; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–548, OMB Control No. 3235–0609] Submission for OMB Review; 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’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for approval of extension of the previously approved 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.). 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 was 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 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. 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. The public may view background documentation for this information collection at the following website: www.reginfo.gov. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. Written comments and recommendations for the proposed information collection should be sent by November 30, 2022 to (i) www.reginfo.gov/public/do/PRAMain and (ii) David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/o John Pezzullo, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov. Dated: October 25, 2022. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2022–23570 Filed 10–28–22; 8:45 am] 14 15 U.S.C. 78s(b)(2)(B). VerDate Sep<11>2014 17:15 Oct 28, 2022 15 17 Jkt 259001 PO 00000 CFR 200.30–3(a)(12). Frm 00061 Fmt 4703 Sfmt 9990 BILLING CODE 8011–01–P E:\FR\FM\31OCN1.SGM 31OCN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 87, Number 209 (Monday, October 31, 2022)]
[Notices]
[Page 65628]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-23570]


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SECURITIES AND EXCHANGE COMMISSION

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


Submission for OMB Review; 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'') has submitted to the Office of 
Management and Budget (``OMB'') a request for approval of extension of 
the previously approved 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.).
    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 was 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.
    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.
    The public may view background documentation for this information 
collection at the following website: www.reginfo.gov. Find this 
particular information collection by selecting ``Currently under 30-day 
Review--Open for Public Comments'' or by using the search function. 
Written comments and recommendations for the proposed information 
collection should be sent by November 30, 2022 to (i) www.reginfo.gov/public/do/PRAMain and (ii) David Bottom, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o John Pezzullo, 100 F 
Street NE, Washington, DC 20549, or by sending an email to: 
[email protected].

    Dated: October 25, 2022.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2022-23570 Filed 10-28-22; 8:45 am]
BILLING CODE 8011-01-P

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