Rule 248.30; 17 C.F.R Sec. 248.30, Procedures to safegard customer records and information; disposal of consumer report information.

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Supporting Statement_Reg S-P.pdf	Supporting Statement A	Uploaded 2024-06-13	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
35473	Rule 248.30, 17 C.F.R. Sec. 248.30, Procedures to safeguard customer records and information; disposal of consumer report information.		Modified

ICR Details

OMB Control No: 3235-0610	ICR Reference No: 202406-3235-008
Status: Active	Previous ICR Reference No: 202203-3235-002
Agency/Subagency: SEC	Agency Tracking No: IM-270-549
Title: Rule 248.30; 17 C.F.R Sec. 248.30, Procedures to safegard customer records and information; disposal of consumer report information.
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: 07/17/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 06/17/2024
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2027	36 Months From Approved	09/30/2025
Responses	33,214	0	20,309
Time Burden (Hours)	1,229,871	0	65,760
Cost Burden (Dollars)	85,315,296	0	0

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Abstract: Rule 248.30(a) requires broker-dealers, investment companies, and investment advisers registered with the Commission to document in writing policies and procedures to safeguard customer records and information.

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Authorizing Statute(s): US Code: 15 USC 6801 Name of Law: Gramm-Leach-Bliley Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AN26	Final or interim final rulemaking	89 FR 47688	06/03/2024

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
Rule 248.30, 17 C.F.R. Sec. 248.30, Procedures to safeguard customer records and information; disposal of consumer report information.

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ICR Summary of Burden

table that charts list 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	33,214	20,309	0	12,905	0	0
Annual Time Burden (Hours)	1,229,871	65,760	0	1,164,111	0	0
Annual Cost Burden (Dollars)	85,315,296	0	0	85,315,296	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Currently, the approved total annual hour burden for complying with rule 248.30 is 47,565 hours. The estimate of the total annual hour burden of the final amendments is 1,229,871 hours (an increase of 1,164,111 hours). The current total annual external cost burden is $0; we estimate an external cost burden of $85,315,296 associated with the final amendments. The changes in annual burden hours and external cost burden are due to the final amendments to rule 248.30.

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Annual Cost to Federal Government: $0

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]? No

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: 06/17/2024

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