Document ID: SEC-2017-0094-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals: Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies
Posted Date: 2017-01-24T05:00Z

[Federal Register Volume 82, Number 14 (Tuesday, January 24, 2017)]
[Notices]
[Pages 8248-8249]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-01566]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-664, OMB Control No. 3235-0740]

Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Revision:
    Joint Standards for Assessing the Diversity Policies and 
Practices of Entities Regulated by the Agencies.

ACTION: Notice.

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SUMMARY: The SEC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites the general public and other Federal 
agencies to take this opportunity to comment on a revised information 
collection, as required by the PRA. The SEC may not conduct or sponsor, 
and a respondent is not required to respond to, an information 
collection unless it displays a currently valid OMB control number. The 
SEC previously received OMB approval for a voluntary information 
collection in the Joint Standards. The SEC now is soliciting comments 
on a revised information collection which adds a Diversity Assessment 
Report as an instrument to facilitate completion of the self-assessment 
described in the Joint Standards.

DATES: Comments must be submitted on or before March 27, 2017.

ADDRESSES: Please direct your written comments to Pamela Dyson, Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or send an email 
to PRA_Mailbox@sec.gov, and include ``SEC File No. 270-664--OMWI 
Diversity Assessment Report'' in the subject line of the message.

FOR FURTHER INFORMATION CONTACT: For further information about the 
information collection discussed in this revised notice, please contact 
Pamela A. Gibbs, Director, Office of Minority and Women Inclusion, 
(202) 551-6046, or Audrey B. Little, Senior Counsel, Office of Minority 
and Women Inclusion, (202) 551-6086, Securities and Exchange 
Commission, 100 F Street NE., Washington, DC 20549.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), certain 
Federal agencies must obtain approval from OMB for each collection of 
information that they conduct or sponsor. ``Collection of information'' 
is defined in 44 U.S.C. 3502(3) (and 5 CFR 1320.3(c) of the PRA 
implementing regulations) to include agency requests or requirements 
that members of the public submit reports, keep records, or provide 
information to a third party. The PRA (44 U.S.C. 3506(c)(2)(A)) directs 
these Federal agencies to provide a 60-day notice in the Federal 
Register concerning each proposed collection of information before 
submitting the collection to OMB for approval. To comply with this 
requirement, the SEC

[[Page 8249]]

is publishing this notice of a proposed revision to the previously 
approved collection of information.
    Description: The SEC previously received OMB approval for a 
voluntary information collection with respect to the Joint Standards, 
pursuant to which entities regulated by the SEC voluntarily self-assess 
their diversity policies and practices.\1\ This proposed revision to 
the previously approved collection would add a form entitled 
``Diversity Assessment Report for Entities Regulated by the SEC'' 
(Diversity Assessment Report) to assist with collection of information 
regarding regulated entities' policies and practices relating to 
diversity and inclusion. The Diversity Assessment Report (1) asks for 
general information about a respondent; (2) includes a checklist and 
questions relating to the standards set forth in the Joint Standards; 
(3) seeks data related to workforce diversity and supplier diversity; 
and (4) provides an opportunity for comments. The SEC estimates that 
use of the Diversity Assessment Report would reduce the average 
response time for this collection per respondent from 12 hours to 10 
hours. A draft of this Diversity Assessment Report can be viewed at 
https://www.sec.gov/omwi/sec-entity-diversity-assessment-report-draft.pdf.
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    \1\ 80 FR 33016 (June 10, 2015).
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    The SEC may use the information submitted by the entities it 
regulates to monitor progress and trends in the financial services 
industry with regard to diversity and inclusion in employment and 
contracting activities and to identify and highlight those policies and 
practices that have been successful. The SEC will continue to reach out 
to the regulated entities and other interested parties to discuss 
diversity and inclusion in the financial services industry and share 
leading practices. The SEC may also publish information disclosed by 
the entity, such as any identified leading practices, in any form that 
does not identify a particular institution or disclose confidential 
business information. The SEC will not publish diversity and inclusion 
information that identifies any particular regulated entity unless the 
regulated entity consents in writing to such use.
    Type of Review: Revision.
    Frequency of Response: Annually.
    Burden Estimates:
    Revised Number of Respondents: 1,300.\2\
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    \2\ This number has been modified to account for the ever 
changing number of entities regulated by the SEC. It still, however, 
represents about 5% of regulated entities, as set forth in the 
original PRA notice for the Joint Standards.
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    Revised Annual Burden Per Respondent for the Diversity Assessment 
Report and Joint Standards: 10 hours.
    Revised Total Annual Burden: 13,000 hours.
    Obligation to Respond: Voluntary.
    Request for Comments: The comments submitted in response to this 
notice will be summarized and included in the request for OMB approval. 
All comments will become a matter of public record. Comments are 
invited on:
    (a) Whether the collection of information is necessary for the 
proper performance of the functions of the SEC, including whether the 
information has practical utility;
    (b) The accuracy of the SEC's estimate of the information 
collection burden, including the validity of the methods and the 
assumptions used;
    (c) Ways to enhance the quality, utility, and clarity of the 
information proposed to be collected;
    (d) Ways to minimize the burden of the collection on respondents, 
including through the use of automated collection techniques or other 
forms of information technology; and
    (e) Estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: January 18, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-01566 Filed 1-23-17; 8:45 am]
 BILLING CODE 8011-01-P