Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Regulation S-AM
Published Date: 1/30/2026
Notice
Summary
The SEC is asking to keep the rules in Regulation S-AM that protect consumers from unwanted marketing by financial companies linked to their affiliates. About 2,282 companies must give clear notices and easy ways for people to say no to these ads, while around 12,781 companies spend a little time checking their marketing practices. This update keeps things running smoothly without adding new costs or big changes.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Annual Compliance Time and Cost Burden on Firms
About 12,781 SEC-registered Covered Persons that have one or more affiliates spend an estimated average of 0.20 hours per year reviewing affiliate marketing practices, while about 2,282 firms spend an average 7.6 hours per year on notices, opt-outs, recordkeeping, and consumer questions. The staff estimates a total annual time burden of about 19,899 hours and total annual internal compliance costs of about $5,897,625.
Limits on Affiliate Marketing; Consumer Opt-Outs
Regulation S-AM stops certain financial firms from using consumer financial information received from an affiliate to solicit you for marketing unless you are given a clear notice and a reasonable, simple way to opt out. The rule potentially covers firms registered with the SEC (about 22,824 Covered Persons) and specifically applies to the roughly 2,282 firms that must provide affiliate marketing notices and opt-out opportunities.
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