OMWI Contract Standard for Contractor Workforce Inclusion

Forms and Documents

Document Name	Status
89 FR 76897 (OMB 3235–0725).pdf Supplementary Document	2024-10-21
89 FR 57451 (OMB 3235-0725).pdf Supplementary Document	2024-10-21
OMB Control No. 3235-0725 Supporting Statement.pdf Supporting Statement A	2024-10-21

IC Document Collections

IC ID	Document Title	Status
216310	Updating and Maintaining Workforce Inclusion Plan (after first year)	Removed
216307	Annual Reporting--Retrieving and Submitting Documentation of Good Faith Efforts to OMWI Director	Modified
216288	Initial Workforce Inclusion Plan One-time Implementation Recordkeeping Burden	Removed

ICR Details

OMB Control No: 3235-0725	ICR Reference No: 202410-3235-007
Status: Received in OIRA	Previous ICR Reference No: 202109-3235-013
Agency/Subagency: SEC	Agency Tracking No: OMWI-270-666
Title: OMWI Contract Standard for Contractor Workforce Inclusion
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 10/21/2024

	Requested	Previously Approved
Expiration Date	36 Months From Approved	02/28/2025
Responses	50	196
Time Burden (Hours)	50	853
Cost Burden (Dollars)	2,250	45,919

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Abstract: The information collection will be used to satisfy the requirements of Section 343(c)(3)(A) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, 12 U.S.C. 5452, which requires the Director of the Office of Minority and Women Inclusion (OMWI) at the Securities and Exchange Commission (Commission) to determine whether a contractor or subcontractor has made good faith efforts to include minorities and women in its workforce. The Contract Standard on Contractor Workforce Inclusion provides that the contractor shall furnish, upon request from the OMWI Director, documentation of the actions undertaken (and as applicable documentation of the actions its covered subcontractors have undertaken) that demonstrate its good faith efforts to ensure the fair inclusion of minorities and women in its workforce. The respondents are Commission contractors and subcontractors that have contracts and subcontracts for services valued at $100,000 or more.

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Authorizing Statute(s): US Code: 12 USC 5452 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: US Code: 12 USC 5452 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

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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:
	89 FR 57451	07/15/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 76897	09/19/2024
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
Annual Reporting--Retrieving and Submitting Documentation of Good Faith Efforts to OMWI Director
Initial Workforce Inclusion Plan One-time Implementation Recordkeeping Burden
Updating and Maintaining Workforce Inclusion Plan (after first year)

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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	50	196	0	-146	0	0
Annual Time Burden (Hours)	50	853	0	-803	0	0
Annual Cost Burden (Dollars)	2,250	45,919	0	-43,669	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: This change in eligibility criteria eliminated any new recordkeeping burden since contractors with 50 or more employees are generally subject to the recordkeeping and reporting requirements under the regulations implementing Title VII of the Civil Rights Act and Executive Order 11246. The estimated annualized cost to contractors associated with the recordkeeping and reporting burden resulting from this collection of information is based on Bureau of Labor Statistics data in the publication “Employer Costs for Employee Compensation” (March 2024), which lists total compensation for management, professional, and related occupations as $73 per hour and administrative support as $35 per hour. We estimate that 25 percent of the burden hours for retrieving and submitting documentation to the OMWI Director would be professional, management, and related occupations and 75 percent would be administrative support.

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Annual Cost to Federal Government: $44,100

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]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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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: 10/21/2024

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