Document ID: SEC-2017-0570-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals: Joint Standards for Assessing Diversity Policies and Practices of Entities Regulated by the Agencies
Posted Date: 2017-04-11T04:00Z

[Federal Register Volume 82, Number 68 (Tuesday, April 11, 2017)]
[Notices]
[Pages 17489-17490]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-07249]

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SECURITIES AND EXCHANGE COMMISSION

Submission for OMB Review: Comment Request

Upon Written Request, Copies Available From: U.S. Securities and 
Exchange Commission, Office of FOIA Services, 100 F Street NE, 
Washington, DC 20549-2736

Revision:
    Joint Standards for Assessing the Diversity Policies and 
Practices of Entities Regulated by the Agencies, SEC File No. 270-
664, OMB Control No. 3235-0740.

ACTION: Notice.

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SUMMARY: The Securities and Exchange Commission (the SEC) has submitted 
a revision to a currently approved information collection to the Office 
of Management and Budget (OMB) for review and approval in accordance 
with the Paperwork Reduction Act of 1995 (PRA). The SEC previously 
received OMB approval for a collection of information associated with 
the Final Interagency Policy Statement Establishing Joint Standards for 
Assessing the Diversity Policies and Practices of Entities Regulated by 
the Agencies (Joint Standards). The revision adds a form entitled 
``Diversity Assessment Report Assessment Report for Entities Regulated 
by the SEC'' (Diversity Assessment Report) to facilitate the collection 
of information contemplated under the Joint Standards.

DATES: Comments must be submitted on or before May 11, 2017.

ADDRESSES: The public may review the background documentation for this 
information collection at the following Web site: www.reginfo.gov. 
Comments should be directed to: (i) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, DC 20503, or by sending an email to: 
Shagufta_Ahmed@omb.eop.gov; and (ii) Pamela C. 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: 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 publish a 30-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 is publishing this notice to invite public comment 
on the proposed revision to the currently approved information 
collection discussed below.
    Title of Collection: Joint Standards for Assessing Diversity 
Policies and Practices of Entities Regulated by the Agencies.
    OMB Control Number: 3235-0740.
    Description: The SEC previously received OMB approval for a 
voluntary information collection associated with the Joint Standards, 
pursuant to which entities regulated by the SEC may conduct voluntarily 
self-assessments of their diversity policies and practices and provide 
information to pertaining to the self-assessments to the SEC.\1\ This 
proposed revision to the currently approved collection adds 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 
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. A draft of this Diversity 
Assessment Report can be viewed at https://www.sec.gov/omwi/sec-entity-diversity-assessment-report-draft.pdf. 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.
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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 Average Response Time Per Respondent: 10 hours.
    Revised Total Annual Burden Hours: 13,000.
    Obligation to Respond: Voluntary.
    Comments: On January 24, 2017, the SEC published a notice of its 
proposed revision to the currently approved information collection 
associated with the Joint Standards, and allowed the public 60 days to 
submit comments.\3\ See 82 FR 8248. The comment period closed March 27, 
2017, and the SEC received no comments that addressed the proposed 
revision to the information collection.
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    \3\ 82 FR 8248.
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    Written comments continue to be 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

[[Page 17490]]

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 
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purchase of services to provide information.

    Dated: April 5, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-07249 Filed 4-10-17; 8:45 am]
 BILLING CODE 8011-01-P