[Federal Register Volume 63, Number 47 (Wednesday, March 11, 1998)]
[Notices]
[Pages 11938-11939]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-6175]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. PA-23]


Privacy Act of 1974: Modification of a Privacy Act System of 
Records

AGENCY: Securities and Exchange Commission.

ACTION: Notice of minor modifications.

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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 
is amending the Administrative Audit System (SEC-14) to reflect updates 
to the authority for maintenance, storage, retrievability, and record 
source categories, and clarification of the retention and disposal. In 
addition, the agency is modifying the retention and disposal of records 
maintained in the Agency Correspondence Tracking System (ACTS) (SEC-
29).

EFFECTIVE DATE: March 11, 1998.

FOR FURTHER INFORMATION CONTACT: Hannah R. Hall, Privacy Act Officer, 
(202) 942-4320, Office of Filings and Information Services, Freedom of 
Information Act and Privacy Act Operations, Securities and Exchange 
Commission, Operations Center, 6432 General Green Way, Mail Stop O-5, 
Alexandria, VA 22312-2413.

SUPPLEMENTARY INFORMATION: In the course of reviewing its Privacy Act 
systems of records notices, the Commission identified needed changes to 
the Administrative Audit System (SEC-14) and the Agency Correspondence 
Tracking System (ACTS) (SEC-29). Amendments to these systems were last 
published at 62 FR 47885 and 47887, September 11, 1997. For the purpose 
of complying with the Privacy Act and OMB Circular A-130, these 
modifications are minor changes and do not require an advance report 
to, and review by, the Congress and the Office of Management and 
Budget.
    SEC-14 is amended as follows:
SEC-14

Authority for maintenance of the system:
    This section is revised to read as follows: 31 U.S.C. 35.

[[Page 11939]]

Storage:
    This section is revised to read as follows: Appropriate accounting 
data is stored in electronic media and paper form (e.g., purchase 
orders, memoranda, subsidiary ledgers, invoices, and other 
miscellaneous records).

Retrievability:
    This section is revised to read as follows: These records are 
retrieved by the individual's name or social security number.

Retention and disposal:
    This section is revised to read as follows: The records are 
maintained and disposed of in accordance with the General Services 
Administration, General Records Schedule 6, 7, 9, and 20.

 Record source categories:
    This section is revised to read as follows: The sources for the 
records are purchase orders, vouchers, invoices, contracts, and 
electronic records (e.g., Travel Manager, Frequent Travel Solutions, 
Inc.) or other paper records submitted by employees, vendors, and other 
sources, including claims filed by witnesses in SEC actions.
    SEC-29 is amended as follows:
SEC-29

Retention and Disposal:
    Subsystem A: This section is revised to read: Paper records are 
retained in-house for two (2) years from the office's date of receipt 
of the complaint/inquiry then transferred to the Federal Records Center 
for storage. Records sent to the Federal Records Center that do not 
relate to law enforcement matters are maintained for two (2) additional 
years (for a total of four (4) years from the office's date of 
receipt). Paper records that do relate to an enforcement matter are 
maintained for an additional four (4) years at the Federal Records 
Center for a total of six (6) years from the office's date of receipt.
    Subsystem B: This section is revised to read: Paper records are 
maintained in-house upon expiration of the Chairman's tenure in office. 
In accordance with 17 CFR 200.80f, certain files are forwarded to the 
Federal Records Center or transferred to the National Archives and 
Records Administration.
    Subsystem C: This section is revised to read: Paper records are 
maintained in-house for six months from the office's date of receipt 
and destroyed periodically thereafter.
    Subsystem D: This section is revised to read: A computerized record 
of searches and transactions is maintained in an on-line database and 
on data cartridges. Electronic records are maintained indefinitely. 
Database files are saved on the cartridges, which are sent to the 
Commission's off-site storage vendor.

    Dated: March 5, 1998.

    By the Commission.
Jonathan G. Katz,
Secretary.
[FR Doc. 98-6175 Filed 3-10-98; 8:45 am]
BILLING CODE 8010-01-P