Rule 248.30; 17 C.F.R Sec. 248.30, Procedures to safegard customer records and information; disposal of consumer report information.

Forms and Documents

Document Name	Status
Rule 248.30 Supporting Statement.pdf Supporting Statement A	2016-09-14

IC Document Collections

IC ID	Document Title	Status
35473	Rule 248.30, 17 C.F.R. Sec. 248.30, Procedures to safeguard customer records and information; disposal of consumer report information.	Modified

ICR Details

OMB Control No: 3235-0610	ICR Reference No: 201603-3235-002
Status: Historical Active	Previous ICR Reference No: 201304-3235-016
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 without change	Conclusion Date: 11/10/2016
	Date Received in OIRA: 09/14/2016
Terms of Clearance: The explanation entered into ROCIS addressed the decrease in the burden hours as being "from 87,460 hours to 42,750 hours," which conflicted with the data entered into the ROCIS form above it (reflecting a change from 42,750 to 34,200 hours). The burden hours described in detail in the supporting statement are 34,200, with a change from 42,750 to 34,200. This information collection approval is therefore based on the 42,750-34,200 change numbers and supporting rationale and data contained in the supporting statement.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2019	36 Months From Approved	11/30/2016
Responses	20,173	0	20,556
Time Burden (Hours)	34,200	0	42,750
Cost Burden (Dollars)	0	0	0

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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.

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Authorizing Statute(s): US Code: 15 USC 6801 Name of Law: Gramm-Leach-Bliley Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 14152	03/16/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 34387	05/31/2016
Did the Agency receive public comments on this ICR? No

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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 safeguard customer records and information; disposal of consumer report information.

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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	20,173	20,556	0	0	-383	0
Annual Time Burden (Hours)	34,200	42,750	0	0	-8,550	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 burden hours 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 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.

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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

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Common Form ICR:  No

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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: 09/14/2016

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