Survey revised to improve quality of data collected.
Inventory as of this Action
Requested
Previously Approved
09/30/2020
36 Months From Approved
02/28/2019
1,500
0
1,250
7,500
0
15,000
0
0
520,000
Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Act) required the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), Bureau of Consumer Financial Protection (CFPB), and Securities and Exchange Commission (SEC) (together, Agencies and separately, Agency) each to establish an Office of Minority and Women Inclusion (OMWI) to be responsible for all matters of the Agency relating to diversity in management, employment, and business activities. The Act also instructed each OMWI Director to develop standards for assessing the diversity policies and practices of entities regulated by the Agency. The Agencies worked together to develop joint standards (Joint Standards) and, on June 10, 2015, they jointly published in the Federal Register the “Final Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies” (Policy Statement) The Policy Statement contains a “collection of information” within the meaning of the Paperwork Reduction Act of 1995 (PRA). The Policy Statement includes Joint Standards that cover “Practices to Promote Transparency of Organizational Diversity and Inclusion.” These Joint Standards contemplate that a regulated entity is transparent about its diversity and inclusion activities by making certain information available to the public annually on its Web sites or through other appropriate communications methods, in a manner reflective of the entity’s size and other characteristics. The specific information referenced in these standards is (a) the entity’s diversity and inclusion strategic plan; (b) its policy on its commitment to diversity and inclusion; (c) its progress toward achieving diversity and inclusion in its workforce and procurement activities; and (d) opportunities available at the entity that promote diversity.
None
PL: Pub.L. 111 - 203 342 Name of Law: Dodd–Frank Wall Street Reform and Consumer Protection Act
The change in burden is due to the introduction of the Diversity Assessment Report to facilitate the information collection associated with the Joint Standards for “Entities’ Self-Assessment.” The SEC believes the use of this form will result in the reduction of the average response time from 12 hours to 10 hours. In addition, the estimated number of respondents has increased to reflect the number of regulated entities meeting the above stated criterion— workforce size of more than 100 employees according to their registration statements. Further, the frequency of the information collection has changed from annually to biennially.
No
No
No
No
Yes
No
Uncollected
Audrey Little 202 551-6086 littlea@sec.gov
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:
(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;
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.
2017.09.25 - OMWI Supporting Statement for DAR to OMB.pdf
Diversity Assessment Report