Notice2026-01888
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Regulation S-AM
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
January 30, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 91 Issue 20 (Friday, January 30, 2026)</title>
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[Federal Register Volume 91, Number 20 (Friday, January 30, 2026)]
[Notices]
[Page 4153]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-01888]
[[Page 4153]]
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SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0609]
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Extension: Regulation S-AM
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``SEC'' or ``Commission'') is submitting to the Office of
Management and Budget (``OMB'') this request Extension of the proposed
collection of information provided for in Regulation S-AM (17 CFR part
248, subpart B), under the Fair Credit Reporting Act (15 U.S.C. 1681 et
seq.) (``FCRA''), the Securities Exchange Act of 1934 (15 U.S.C. 78a et
seq.), the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.),
and the Investment Advisers Act of 1940 (15 U.S.C. 80b-1 et seq.).
Regulation S-AM implements the requirements of Section 624 of the
FCRA (15 U.S.C. 1681s-3) with respect to investment advisers and
transfer agents registered with the Commission, 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. Regulation S-AM potentially applies to all
of the approximately 22,824 Covered Persons registered with the
Commission, although only approximately 12,781 of them have one or more
corporate affiliates, and the regulation requires only approximately
2,282 to provide consumers with an affiliate marketing notice and an
opt-out opportunity.
The Commission staff estimates that there are approximately 12,781
Covered Persons having one or more affiliates, and that they each spend
an average of 0.20 hours per year to review affiliate marketing
practices, for, collectively, an estimated annual time burden of
approximately 2,556 hours at an annual internal compliance cost of
approximately $1,686,960. The staff also estimates that approximately
2,282 Covered Persons provide notice and opt-out opportunities to
consumers, and that they each spend an average of 7.6 hours per year
creating notices, providing notices and opt-out opportunities,
monitoring the opt-out notice process, making and updating records of
opt-out elections, and addressing consumer questions and concerns about
opt-out notices, for, collectively, an estimated annual time burden of
approximately 17,343 hours at an annual internal compliance cost of
approximately $4,210,665. Thus, the staff estimates that the collection
of information requires a total of approximately 12,781 respondents to
incur an estimated total annual time burden of approximately 19,899
hours at a total annual internal cost of compliance of approximately
$5,897,625.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid OMB Control Number.
The public may view and comment on this information collection
request at: <a href="https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202511-3235-006">https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202511-3235-006</a> or email comment to
<a href="/cdn-cgi/l/email-protection#125f504a3c5d5f503c5d5b40533c4157514d767761794d7d74747b717760527d7f703c777d623c757d64"><span class="__cf_email__" data-cfemail="79343b215736343b5736302b38572a3c3a261d1c0a1226161f1f101a1c0b3916141b571c1609571e160f">[email protected]</span></a> within 30 days of the day
after publication of this notice, by March 2, 2026.
Dated: January 28, 2026.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-01888 Filed 1-29-26; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on January 30, 2026.
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