Document ID: SEC-2010-0913-0001
Agency: sec
Document Type: Notice
Title: Privacy Act; Systems of Records
Posted Date: 2010-06-23T04:00Z

[Federal Register: June 23, 2010 (Volume 75, Number 120)]
[Notices]               
[Page 35853-35855]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr23jn10-135]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. PA-43; File No. S7-13-10]

 
Privacy Act of 1974: Systems of Records

AGENCY: Securities and Exchange Commission.

ACTION: Notice to revise a system of records.

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SUMMARY: In accordance with the requirements of the Privacy Act of 
1974, as amended, 5 U.S.C. 552a, the Securities and Exchange Commission 
(``Commission'' or ``SEC'') proposes to revise a Privacy Act system of 
records: ``Information Pertaining or Relevant to SEC Registrants and 
Their Activities (SEC-55)'', originally published in the Federal 
Register Volume 74, Number 139 on Wednesday, July 22, 2009.

DATES: The proposed changes will become effective August 2, 2010 unless 
further notice is given. The Commission will publish a new notice if 
the effective date is delayed to review comments or if changes are made 
based on comments received. To be assured of consideration, comments 
should be received on or before July 23, 2010.

ADDRESSES: Comments may be submitted by any of the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/other.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number S7-13-10 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy, 
Secretary, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number S7-13-10. This file number 
should be included on the subject line if e-mail is used. To help us 
process and review your comments more efficiently, please use only one 
method. The Commission will post all comments on the Commission's 
Internet Web site (http://www.sec.gov/rules/other.shtml). Comments are 
available for Web site viewing and printing in the Commission's Public 
Reference Room, 100 F Street, NE., Washington, DC 20549, on official 
business days between the hours of 10 a.m. and 3 p.m. All comments 
received will be posted without change; we do not edit personal 
identifying information from submissions. You should submit only 
information that you wish to make available publicly.

FOR FURTHER INFORMATION CONTACT: Barbara A. Stance, Chief Privacy 
Officer, Office of Information Technology, 202-551-7209.

SUPPLEMENTARY INFORMATION: The Commission proposes to revise a system 
of records: ``Information Pertaining or Relevant to SEC Registrants and 
Their Activities (SEC-55)''. This system of

[[Page 35854]]

records is being amended to revise five routine uses, consolidate five 
routine uses into two new routine uses, and add four additional routine 
uses.
    The Commission has submitted a report of the revised system of 
records to the appropriate Congressional committees and to the Director 
of the Office of Management and Budget (``OMB'') as required by 5 
U.S.C. 552a(r) (Privacy Act of 1974) and guidelines issued by OMB on 
December 12, 2000 (65 FR 77677).
    Accordingly, the Commission is altering the system of records to 
read as follows:
SEC-55

SYSTEM NAME:
    Information Pertaining or Relevant to SEC Registrants and Their 
Activities.

SYSTEM LOCATION:
    Securities and Exchange Commission, 100 F Street, NE., Washington, 
DC 20549.
    Records also are maintained in the SEC's Regional Offices.

CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM:
    Records concern individuals associated with entities or persons 
that are registered with the SEC as brokers-dealers, investment 
advisers, investment companies, self-regulatory organizations, clearing 
agencies, nationally recognized statistical rating organizations, and 
transfer agents (individually, a ``Registrant;'' collectively, 
``Registrants''). Records may also concern persons, directly or 
indirectly, with whom Registrants or their affiliates have client 
relations or business arrangements.

CATEGORIES OF RECORDS IN THE SYSTEM:
    Records may contain information relating to the business activities 
and transactions of Registrants and their associated persons, as well 
as their compliance with provisions of the Federal securities laws and 
with rules of self-regulatory organizations and clearing agencies. 
Records may also contain information regarding the business activities 
and transactions of individuals or entities with whom Registrants have 
client relations or business arrangements.

AUTHORITY FOR MAINTENANCE OF THE SYSTEM:
    15 U.S.C. 78a et seq., 80a-1 et seq., and 80b-1 et seq.

PURPOSE(S):
    1. For use by authorized SEC personnel in connection with their 
official functions including, but not limited to, the conduct of 
examinations for compliance with Federal securities laws, 
investigations into possible violations of the Federal securities laws, 
and other matters relating to the SEC's regulatory and law enforcement 
functions.
    2. To maintain continuity within the SEC as to each Registrant and 
to provide SEC staff with the background and results of earlier 
examinations of Registrants, as well as an insight into current 
industry practices or possible regulatory compliance issues.
    3. To conduct lawful relational searches or analysis or filtering 
of data in matters relating to the SEC's examination, regulatory, or 
law enforcement functions.

ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES 
OF USERS AND THE PURPOSES OF SUCH USES:
    In addition to those disclosures generally permitted under 5 U.S.C. 
552a(b) of the Privacy Act, these records or information contained 
therein may specifically be disclosed as a routine use pursuant to 5 
U.S.C. 552a(b)(3) as follows:
    1. To appropriate agencies, entities, and persons when (a) it is 
suspected or confirmed that the security or confidentiality of 
information in the system of records has been compromised; (b) the SEC 
has determined that, as a result of the suspected or confirmed 
compromise, there is a risk of harm to economic or property interests, 
identity theft or fraud, or harm to the security or integrity of this 
system or other systems or programs (whether maintained by the SEC or 
another agency or entity) that rely upon the compromised information; 
and (c) the disclosure made to such agencies, entities, and persons is 
reasonably necessary to assist in connection with the SEC's efforts to 
respond to the suspected or confirmed compromise and prevent, minimize, 
or remedy such harm.
    2. To other Federal, State, local, or foreign law enforcement 
agencies; securities self-regulatory organizations; and foreign 
financial regulatory authorities to assist in or coordinate regulatory 
or law enforcement activities with the SEC.
    3. To national securities exchanges and national securities 
associations that are registered with the SEC, the Municipal Securities 
Rulemaking Board; the Securities Investor Protection Corporation; the 
Public Company Accounting Oversight Board; the Federal banking 
authorities, including, but not limited to, the Board of Governors of 
the Federal Reserve System, the Comptroller of the Currency, and the 
Federal Deposit Insurance Corporation; State securities regulatory 
agencies or organizations; or regulatory authorities of a foreign 
government in connection with their regulatory or enforcement 
responsibilities.
    4. By SEC personnel for purposes of investigating possible 
violations of, or to conduct investigations authorized by, the Federal 
securities laws.
    5. In any proceeding where the Federal securities laws are in issue 
or in which the Commission, or past or present members of its staff, is 
a party or otherwise involved in an official capacity.
    6. In connection with proceedings by the Commission pursuant to 
Rule 102(e) of its Rules of Practice, 17 CFR 201.102(e).
    7. To a bar association, State accountancy board, or other Federal, 
State, local, or foreign licensing or oversight authority; or 
professional association or self-regulatory authority to the extent 
that it performs similar functions (including the Public Company 
Accounting Oversight Board) for investigations or possible disciplinary 
action.
    8. To a Federal, State, local, Tribal, foreign, or international 
agency, if necessary to obtain information relevant to the SEC's 
decision concerning the hiring or retention of an employee; the 
issuance of a security clearance; the letting of a contract; or the 
issuance of a license, grant, or other benefit.
    9. To a Federal, State, local, Tribal, foreign, or international 
agency in response to its request for information concerning the hiring 
or retention of an employee; the issuance of a security clearance; the 
reporting of an investigation of an employee; the letting of a 
contract; or the issuance of a license, grant, or other benefit by the 
requesting agency, to the extent that the information is relevant and 
necessary to the requesting agency's decision on the matter.
    10. To produce summary descriptive statistics and analytical 
studies, as a data source for management information, in support of the 
function for which the records are collected and maintained or for 
related personnel management functions or manpower studies; may also be 
used to respond to general requests for statistical information 
(without personal identification of individuals) under the Freedom of 
Information Act.
    11. To any trustee, receiver, master, special counsel, or other 
individual or entity that is appointed by a court of competent 
jurisdiction, or as a result of

[[Page 35855]]

an agreement between the parties in connection with litigation or 
administrative proceedings involving allegations of violations of the 
Federal securities laws (as defined in section 3(a)(47) of the 
Securities Exchange Act of 1934, 15 U.S.C. 78c(a)(47)) or pursuant to 
the Commission's Rules of Practice, 17 CFR 201.100-900 or the 
Commission's Rules of Fair Fund and Disgorgement Plans, 17 CFR 
201.1100-1106, or otherwise, where such trustee, receiver, master, 
special counsel, or other individual or entity is specifically 
designated to perform particular functions with respect to, or as a 
result of, the pending action or proceeding or in connection with the 
administration and enforcement by the Commission of the Federal 
securities laws or the Commission's Rules of Practice or the Rules of 
Fair Fund and Disgorgement Plans.
    12. To any persons during the course of any inquiry, examination, 
or investigation conducted by the SEC's staff, or in connection with 
civil litigation, if the staff has reason to believe that the person to 
whom the record is disclosed may have further information about the 
matters related therein, and those matters appeared to be relevant at 
the time to the subject matter of the inquiry.
    13. To interns, grantees, experts, contractors, and others who have 
been engaged by the Commission to assist in the performance of a 
service related to this system of records and who need access to the 
records for the purpose of assisting the Commission in the efficient 
administration of its programs, including by performing clerical, 
stenographic, or data analysis functions, or by reproduction of records 
by electronic or other means. Recipients of these records shall be 
required to comply with the requirements of the Privacy Act of 1974, as 
amended, 5 U.S.C. 552a.
    14. In reports published by the Commission pursuant to authority 
granted in the Federal securities laws (as such term is defined in 
section 3(a)(47) of the Securities Exchange Act of 1934, 15 U.S.C. 
78c(a)(47)), which authority shall include, but not be limited to, 
section 21(a) of the Securities Exchange Act of 1934, 15 U.S.C. 
78u(a)).
    15. To members of advisory committees that are created by the 
Commission or by Congress to render advice and recommendations to the 
Commission or to Congress, to be used solely in connection with their 
official designated functions.
    16. To any person who is or has agreed to be subject to the 
Commission's Rules of Conduct, 17 CFR 200.735-1 to 200.735-18, and who 
assists in the investigation by the Commission of possible violations 
of the Federal securities laws (as such term is defined in section 
3(a)(47) of the Securities Exchange Act of 1934, 15 U.S.C. 78c(a)(47)), 
in the preparation or conduct of enforcement actions brought by the 
Commission for such violations, or otherwise in connection with the 
Commission's enforcement or regulatory functions under the Federal 
securities laws.
    17. To a Congressional office from the record of an individual in 
response to an inquiry from the Congressional office made at the 
request of that individual.
    18. To members of Congress, the press, and the public in response 
to inquiries relating to particular Registrants and their activities, 
and other matters under the Commission's jurisdiction.
    19. To prepare and publish information relating to violations of 
the Federal securities laws as provided in 15 U.S.C. 78c(a)(47)), as 
amended.
    20. To respond to subpoenas in any litigation or other proceeding.
    21. To a trustee in bankruptcy.
    22. To members of Congress, the General Accountability Office, or 
others charged with monitoring the work of the Commission or conducting 
records management inspections.

POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING, 
AND DISPOSING OF RECORDS IN THE SYSTEM:
STORAGE:
    Records are maintained in electronic format and paper form. 
Electronic records are stored in computerized databases. Records stored 
on other electronic media (e.g., magnetic disk, tape, optical disk) and 
in paper form are stored in locked file rooms or file cabinets.

RETRIEVABILITY:
    Information is indexed by name of the Registrant or by certain SEC 
identification numbers. Information regarding individuals may be 
obtained through the use of cross-reference methodology or some form of 
personal identifier. Access for inquiry purposes is generally via a 
computer terminal.

SAFEGUARDS:
    Records are safeguarded in a secured environment. Buildings where 
records are stored have security cameras and 24-hour security guard 
service. Access is limited to those personnel whose official duties 
require access. Computerized records are safeguarded through use of 
access codes and information technology security. Contractors and other 
recipients providing services to the Commission shall be required to 
comply with the Privacy Act and applicable agency rules and regulations 
issued under the Act.

RETENTION AND DISPOSAL:
    These records will be maintained until they become inactive, at 
which time they will be retired or destroyed in accordance with records 
schedules of the United States Securities and Exchange Commission and 
as approved by the National Archives and Records Administration.

SYSTEM MANAGER(S) AND ADDRESS:
    Chief Information Officer, Office of Information Technology, 
Securities and Exchange Commission, Operations Center, 6432 General 
Green Way, Alexandria, VA 22312-2413.

NOTIFICATION PROCEDURE:
    All requests to determine whether this system of records contains a 
record pertaining to the requesting individual may be directed to the 
FOIA/PA Officer, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-5100.

RECORD ACCESS PROCEDURES:
    Persons wishing to obtain information on the procedures for gaining 
access to or contesting the contents of these records may contact the 
FOIA/PA Officer, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-5100.

CONTESTING RECORD PROCEDURES:
    See Record Access Procedures above.

RECORD SOURCE CATEGORIES:
    Record sources include filings made by Registrants; information 
obtained through examinations or investigations of Registrants and 
their activities; information contained in SEC staff correspondence 
with Registrants; information received from other Federal, State, 
local, foreign, or other regulatory organizations or law enforcement 
agencies; complaint information received by the SEC via letters, 
telephone calls, e-mails or any other form of communication; and data 
obtained from third-party sources.

EXEMPTIONS CLAIMED FOR THE SYSTEM:
    None.

    Dated: June 17, 2010.

    By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-15233 Filed 6-22-10; 8:45 am]
BILLING CODE 8010-01-P