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

ICR 201511-3235-004

OMB: 3235-0740

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2016-02-18
IC Document Collections
IC ID
Document
Title
Status
218876 New
ICR Details
3235-0740 201511-3235-004
Historical Active
SEC OMWI-270-664
Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies
New collection (Request for a new OMB Control Number)   No
Regular
Approved without change 02/18/2016
Retrieve Notice of Action (NOA) 11/06/2015
  Inventory as of this Action Requested Previously Approved
02/28/2019 36 Months From Approved
1,250 0 0
15,000 0 0
520,000 0 0

Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Act) required the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), Bureau of Consumer Financial Protection (CFPB), and Securities and Exchange Commission (SEC) (together, Agencies and separately, Agency) each to establish an Office of Minority and Women Inclusion (OMWI) to be responsible for all matters of the Agency relating to diversity in management, employment, and business activities. The Act also instructed each OMWI Director to develop standards for assessing the diversity policies and practices of entities regulated by the Agency. The Agencies worked together to develop joint standards (Joint Standards) and, on June 10, 2015, they jointly published in the Federal Register the “Final Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies” (Policy Statement) The Policy Statement contains a “collection of information” within the meaning of the Paperwork Reduction Act of 1995 (PRA). The Policy Statement includes Joint Standards that cover “Practices to Promote Transparency of Organizational Diversity and Inclusion.” These Joint Standards contemplate that a regulated entity is transparent about its diversity and inclusion activities by making certain information available to the public annually on its Web sites or through other appropriate communications methods, in a manner reflective of the entity’s size and other characteristics. The specific information referenced in these standards is (a) the entity’s diversity and inclusion strategic plan; (b) its policy on its commitment to diversity and inclusion; (c) its progress toward achieving diversity and inclusion in its workforce and procurement activities; and (d) opportunities available at the entity that promote diversity.

None
PL: Pub.L. 111 - 203 342 Name of Law: Dodd–Frank Wall Street Reform and Consumer Protection Act

Not associated with rulemaking

  80 FR 33016 06/10/2015
80 FR 68901 11/06/2015
Yes

1
IC Title Form No. Form Name
Interagency Policy Statement

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 1,250 0 1,250 0 0 0
Annual Time Burden (Hours) 15,000 0 15,000 0 0 0
Annual Cost Burden (Dollars) 520,000 0 520,000 0 0 0
No
No
This is a new collection of information.

No
No
No
Yes
No
Uncollected
Audrey Little 202 551-6086 littlea@sec.gov

  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.
11/06/2015


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