Recordkeeping Requirements Associated with Regulation GG

Forms and Documents

Document Name	Status
RegGG.200711.omb.doc Supporting Statement A	2007-10-31

IC Document Collections

IC ID	Document Title	Status
182209	Section 6 (Recordkeeping)	New
182208	Section 5 (Recordkeeping)	New

ICR Details

OMB Control No: 7100-0317	ICR Reference No: 200709-7100-014
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: FRS	Agency Tracking No: FR 4026
Title: Recordkeeping Requirements Associated with Regulation GG
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 10/31/2007
	Date Received in OIRA: 10/31/2007
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2010	36 Months From Approved
Responses	134,451	0	0
Time Burden (Hours)	322,779	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The Secretary of the Treasury and the Board of Governors of the Federal Reserve System in consultation with the U.S. Attorney General, jointly are issuing a notice of proposed rulemaking to implement applicable provisions under section 802 of the Unlawful Internet Gambling Enforcement Act of 2006. The proposed rule requires participants in designated payment systems to establish written policies and procedures reasonably designed to identify and block or otherwise prevent or prohibit transactions in connection with unlawful Internet gambling. The collection of information in the proposed rule is in sections 5 and 6.

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Authorizing Statute(s): US Code: 31 USC 5364(a) Name of Law: Unlawful Internet Gambling Enforcement Act of 2006
  

Citations for New Statutory Requirements: US Code: 31 USC 5361 Name of Law: Unlawful Internet Gambling Enforcement Act of 2006

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1505-AB78	Proposed rulemaking	72 FR 56680	10/04/2007

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 56680	10/04/2007
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Section 6 (Recordkeeping)
Section 5 (Recordkeeping)

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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	134,451	0	134,451	0	0	0
Annual Time Burden (Hours)	322,779	0	322,779	0	0	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 Secretary of the Treasury and the Board of Governors of the Federal Reserve System in consultation with the U.S. Attorney General, jointly are issuing a notice of proposed rulemaking (NPR) to implement applicable provisions under section 802 of the Unlawful Internet Gambling Enforcement Act of 2006. The proposed rule requires participants in designated payment systems to establish written policies and procedures reasonably designed to identify and block or otherwise prevent or prohibit transactions in connection with unlawful Internet gambling. The collection of information in the proposed rule is in sections 5 and 6.

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Annual Cost to Federal Government:

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]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

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: 10/31/2007

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