Insurance Sales Consumer Protections

Forms and Documents

Document Name	Status
SPST-0140 Insurance Sales Consumer Protections 2016.doc Supporting Statement A	2016-12-06
FR2-0140 Insurance Sales Consumer Protections 81 FR 85957 November 29 2016.pdf Supplementary Document	2016-12-06
FR1-0140 Insurance Sales Consumer Protections 81 FR 65643 Sept 22 2016.pdf Supplementary Document	2016-12-06

IC Document Collections

IC ID	Document Title	Status
31957	Insurance Sales Consumer Protections	Modified

ICR Details

OMB Control No: 3064-0140	ICR Reference No: 201610-3064-001
Status: Historical Active	Previous ICR Reference No: 201306-3064-002
Agency/Subagency: FDIC	Agency Tracking No:
Title: Insurance Sales Consumer Protections
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 06/15/2017
	Date Received in OIRA: 12/06/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2020	36 Months From Approved	06/30/2017
Responses	2,020	0	2,729
Time Burden (Hours)	10,100	0	13,645
Cost Burden (Dollars)	0	0	0

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Abstract: Covered persons must make certain disclosures regarding insurance products and annuities.

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Authorizing Statute(s): PL: Pub.L. 106 - 102 305 Name of Law: Gramm-Leach-Bliley Act
  

Citations for New Statutory Requirements: US Code: 12 USC 5301 et seq. 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:
	81 FR 65643	09/22/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 85957	11/29/2016
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
Insurance Sales Consumer Protections

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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	2,020	2,729	0	0	-709	0
Annual Time Burden (Hours)	10,100	13,645	0	0	-3,545	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:

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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: 12/06/2016

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