Identity Theft Red Flags

ICR 201203-3235-008

OMB: 3235-0692

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2012-03-26
IC Document Collections
IC ID
Document
Title
Status
201690
New
ICR Details
3235-0692 201203-3235-008
Historical Inactive
SEC IM-270-644
Identity Theft Red Flags
New collection (Request for a new OMB Control Number)   No
Regular
Comment filed on proposed rule 06/19/2012
Retrieve Notice of Action (NOA) 03/26/2012
OMB files this comment in accordance with 5 CFR 1320.11( c ). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. Resubmit when proposed rule is finalized.
  Inventory as of this Action Requested Previously Approved
36 Months From Approved
0 0 0
0 0 0
0 0 0

Regulation S-ID, and the information collection it requires, is designed to better protect consumers from the risks of identity theft. The regulation requires entities that are subject to the Commission's jurisdiction to address identity theft in two ways. First, the proposed rules and guidelines would require financial institutions and creditors to develop and implement a written identity theft prevention program designed to detect, prevent, and mitigate identity theft in connection with certain existing accounts or the opening of new accounts. Second, the proposed rules would establish special requirements for any credit and debit card issuers that are subject to the Commissions' jurisdiction, to assess the validity of notifications of changes of address under certain circumstances.

US Code: 15 USC 1681 Name of Law: FACT Act
  
PL: Pub.L. 111 - 203 1088(a)(8) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

3235-AL26 Proposed rulemaking 77 FR 13450 03/06/2012

No

1
IC Title Form No. Form Name
Identity Theft Red Flags

No
No
This request transfers a PRA burden from another agency to the SEC. The SEC is issuing proposed rules and guidelines to implement new statutory provisions enacted by Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act. These provisions transfer identity theft and card issuer rulemaking responsibility and enforcement authority to the SEC with respect to entities under its jurisdiction. The proposed rules and guidelines are substantially similar to those already adopted jointly by several agencies in 2007. SEC-regulated entities currently incur these burdens and will continue to do so regardless of whether the SEC adopts proposed Regulation S-ID.

No
No
No
Yes
No
Uncollected
Thoreau Bartmann 202 551-6792 [email protected]

  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.
03/26/2012


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