Regulation S-AM: Limitations
on Affilate Marketing
Revision of a currently approved collection
No
Regular
01/30/2026
Requested
Previously Approved
36 Months From Approved
04/30/2026
15,063
14,452
19,899
19,096
0
0
Regulation S-AM implements the
requirements of Section 624 of the Federal Credit Reporting Act (15
U.S.C. 1681s-3) with respect to investment advisers and transfer
agents registered with the Securities and Exchange Commission
(“SEC”), as well as brokers, dealers and investment companies
(collectively, “Covered Persons”). Section 624 and Regulation S-AM
limit a Covered Person’s use of certain consumer financial
information received from an affiliate to solicit a consumer for
marketing purposes, unless the consumer was given notice and a
reasonable opportunity and a reasonable and simple method to opt
out of such solicitations. This serves the SEC’s mission in
protecting investors from abuse or fraud.
US Code:
15 USC 78q, 78q-1, 78w, 78mm Name of Law: Sections 17, 17A, 23,
and 36 of the Securities Exchange Act of 1934
US Code:
15 USC 80a-30(a), 80a-37, 80b-4 Name of Law: Section 31 and 38
of the Investment Company Act of 1940, and sections 204 and 211 of
the Investment
The change in total annual time
burden from 19,096 hours to 19,899 hours resulted from an increase
in the number of entities subject to Regulation S-AM (the estimated
number of Covered Persons having one or more affiliates increased
from approximately 12,262 to approximately 12,781, and the
estimated number of Covered Persons required to provide notice and
opt-out opportunities increased from approximately 2,190 to
approximately 2,282). Based on the changes described, the estimated
total annual time burden of the collection of information changed
from 19,096 hours (2,452 + 16,644) to 19,899 hours (2,282 +
12,781).
$0
No
No
No
No
No
No
No
Jane Wetterau 202
551-4483
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.
20260130_3235-0609_2026-01888_91 FR 4153_30-Day Submission Notice.pdf.pdf
Regulation S-AM: Limitations on Affilate Marketing