Privacy Act of 1974; System of Records

SMALL BUSINESS ADMINISTRATION

Privacy Act of 1974; System of Records

AGENCY: U.S. Small Business Administration.

ACTION: Notice of a modified system of records.

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SUMMARY: The U.S. Small Business Administration (SBA) proposes to

modify its system of records titled, Small Business Investment Company

Information System (SBICIS) (SBA 40), to update its inventory of

records systems subject to the Privacy Act of 1974, as amended.

Publication of this notice complies with the Privacy Act and the Office

of Management and Budget (OMB) Circular A-108 and Circular A-130.

System of Records Notice (SORN) titled, Small Business Investment

Company Information System (SBA 40), serves as a centralized and

automated framework for the organization, retrieval, and analysis of

SBIC information which supports the SBA's oversight and risk management

roles for the SBIC program.

DATES: Submit comments on or before May 16, 2024. This revised system

will be effective upon publication. Routine uses will become effective

on the date following the end of the comment period unless comments are

received which result in a contrary determination.

ADDRESSES: You may submit comments on this notice, identified by

[DOCKET NUMBER SBA-2023-0014], by any of the following methods:

Federal e-Rulemaking Portal: http://www.regulations.gov: Follow the

instructions for submitting comments. Mail/Hand Delivery/Courier:

Submit written comments to: Kerry Vance, Director, Information

Technology and Data Strategy, Office of Investment and Innovation, U.S.

Small Business Administration, 409 3rd Street SW, Washington, DC 20416.

FOR FURTHER INFORMATION CONTACT: General questions, please contact

Kerry Vance, Director, Information Technology and Data Strategy, Office

of Investment and Innovation, U.S. Small Business Administration, 409

3rd Street SW, Washington, DC 20416 or via email, [email protected],

telephone 202-205-6160 or Kelvin L. Moore, Chief Information Security

Officer, Office of the Chief Information Officer, U.S. Small Business

Administration, 409 3rd Street SW, Suite 4000, Washington, DC 20416,

email address: [email protected], telephone 202-921-6273. For

Privacy related matters, please contact LaWanda Burnette, Chief Privacy

Officer, Office of the Chief Information Officer, or via email to

[email protected].

SUPPLEMENTARY INFORMATION: The Privacy Act of 1974 (5 U.S.C. 552a), as

amended, embodies fair information practice principles in a statutory

framework governing how federal agencies collect, maintain, use, and

disseminate individuals' personal information. The Privacy Act applies

to records about individuals that are maintained in a ``system of

records.'' A system of records is any group of records under the

control of a federal agency from which information is retrieved by the

name of an individual or by a number, symbol or any other identifier

assigned to the individual. The Privacy Act requires each federal

agency to publish in the Federal Register a System of Records Notice

(SORN) identifying and describing each system of records the agency

maintains, the purpose for which the agency uses the Personally

Identifiable Information (PII) in the system, the routine uses for

which the agency discloses such information outside the agency, and how

individuals can exercise their rights related to their PII information.

The modified Privacy Act system of records titled Small Business

Investment Company Information System (SBICIS) (SBA 40) will be used to

provide notice to current and former (i) prospective Small Business

Investment Company license applicants, (ii) SBIC applicants, (iii)

SBICs (solely for the purpose of this SORN, the term ``SBIC'' refers to

each of (i), (ii), and (iii). This includes managers, executives,

members, and employees associated or affiliated with an SBIC, and

personal and professional references for certain of the foregoing. It

also includes SBIC investors, SBIC portfolio companies, certain SBIC

portfolio company employees, SBIC service providers, and certain other

individuals associated, affiliated or involved with an SBIC.

Additionally, this modification to the system of records Small

Business Investment Company Information System (SBICIS) (SBA 40) also

includes changing the short name to SBA SBICIS 40 to easily identify

the system short name with its numeric value. Lastly, this modification

adds three new routine uses: (H), (I) and (J), respectively.

This system of records is comprised of electronic records managed

by the Office of Investment and Innovation (OII). SBA SBICIS 40 will

not have any undue impact on the privacy of individuals and its use is

compatible with collection.

SYSTEM NAME AND NUMBER:

Small Business Investment Company Information System (SBA SBICIS

40).

SECURITY CLASSIFICATION:

Controlled Unclassified Information

SYSTEM LOCATION:

SBA Headquarters, 409 3rd Street SW, Washington, DC 20416 and

vendor cloud platform.

SYSTEM MANAGER(S):

Kerry Vance, Director, Information Technology and Data Strategy,

Office of Investment and Innovation, U.S. Small Business

Administration, 409 3rd Street SW, Washington, DC 20416 or via email

[email protected], telephone 202-205-6160.

AUTHORITY FOR MAINTENANCE OF THE SYSTEM:

The Small Business Investment Act of 1958, as amended, 15 U.S.C.

661, et seq.

CATEGORIES OF RECORDS IN THE SYSTEM:

Personal and commercial information (including name, address,

telephone number, credit history, background information, business

information, employer identification number, SBIC License number,

financial information, investor commitments, identifying number or

other personal identifiers, regulatory compliance information) on

individuals and portfolio companies named in SBIC files.

[[Page 26999]]

ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES

OF USERS AND PURPOSES OF SUCH USES:

In addition to those disclosures generally permitted under 5 U.S.C.

552a(b) of the Privacy Act, all or a portion of the information

contained in this system may be disclosed to authorized entities, as is

determined to be relevant and necessary, outside SBA as a routine use

pursuant to 5 U.S.C. 552a(b)(3) as follows:

A. To the Department of Justice (DOJ), including offices of the

U.S. Attorneys, or other Federal agency conducting litigation or in

proceedings before any court, adjudicative, or administrative body,

when it is deemed by the SBA to be relevant or necessary to the

litigation or SBA has an interest in such litigation when any of the

following are a party to the litigation or have an interest in the

litigation: (1) Any employee or former employee of the SBA in his or

her official capacity; (2) Any employee or former employee of the SBA

in his or her individual capacity when DOJ or SBA has agreed to

represent the employee or a party to the litigation or have an interest

in the litigation; or (3) The United States or any agency thereof.

B. To a Congressional office from the record of an individual in

response to an inquiry from that Congressional office made at the

request of the individual. The member's access rights are no greater

than those of the individual.

C. To the National Archives and Records Administration (NARA) or

General Services Administration (GSA) pursuant to records management

inspections being conducted under the authority of 44 U.S.C. 2904 and

2906.

D. To an agency or organization, including the SBA's Office of

Inspector General, for the purpose of performing audit or oversight

operations as authorized by law, but only such information as is

necessary and relevant to such audit or oversight function.

E. To appropriate agencies, entities, and persons when: (1) The SBA

suspects or has confirmed that the security or confidentiality of

information processed and maintained by the SBA has been compromised,

(2) the SBA has determined that as a result of the suspected or

confirmed compromise, there is a risk of identity theft or fraud, harm

to economic or property interests, harm to an individual, or harm to

the security or integrity of this system or other systems or programs

(whether maintained by SBA or any other agency or entity) that rely

upon the compromised information; and (3) the disclosure made to such

agencies, entities, and persons is reasonably necessary to assist in

connection with the SBA's efforts to respond to the suspected or

confirmed compromise and prevent, minimize, or remedy such harm.

F. To another Federal agency or Federal entity, when the SBA

determines that information from this system of records is reasonably

necessary to assist the recipient agency or entity in: (1) Responding

to a suspected or confirmed breach or (2) preventing, minimizing, or

remedying the risk of harm to individuals, the recipient agency or

entity (including its information systems, programs, and operations),

the Federal Government, or national security, resulting from a

suspected or confirmed breach.

G. To another agency or agent of a government jurisdiction within

or under the control of the U.S., lawfully engaged in national security

or homeland defense when disclosure is undertaken for intelligence,

counterintelligence activities (as defined by 50 U.S.C. 3003(3)),

counterterrorism, homeland security, or related law enforcement

purposes, as authorized by U.S. law or Executive Order.

H. To other Federal agencies or Federal entities when mandated by

executive orders or statute, or as documented by a Memorandum of

Understanding or Memorandum of Agreement or Information Exchange

Agreement or Data Sharing Agreement (``Agreements'') and approved by

the applicable Authorizing Officials in compliance with the Privacy Act

of 1974, as amended, 5 U.S.C. 552a and SBA's policies. These Agreements

may be subject to review and approval by SBA's Office of General

Counsel and SBA's Senior Agency Official for Privacy or designee and

are for the purpose of performing analysis, metrics, or reports in

support of marketing or initiatives and programs that SBICs may opt

into participate in without any obligation or commitment.

I. To other Federal agencies or Federal entities in aggregate and

anonymized for the purpose of marketing, trends, statistical analysis,

forecasting, reporting, and research where the information must

preserve anonymity.

J. To SBA contractors, grantees, interns, regulators, and experts

who have been engaged by SBA to assist in the performance and

performance improvement of a service related to this system of records

and who need access to the records to perform this activity which may

also include for regulatory purposes. 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.

POLICIES AND PRACTICES FOR RETRIEVAL OF RECORDS:

SBICIS records are retrieved by SBIC or Portfolio Company Name,

affiliation with a particular SBIC personal identifier, SBA identifier,

employer identification number, or any other data field that would

enable SBA to perform its official duties.

POLICIES AND PRACTICES FOR RETENTION AND DISPOSAL OF RECORDS:

Records are maintained in accordance with SBA Standard Operating

Procedure (SOP) 00 41 latest edition, applicable General Records

Schedules (GRS) and are disposed of in accordance with applicable SBA

policies.

ADMINISTRATIVE, TECHNICAL, AND PHYSICAL SAFEGUARDS:

Information stored by SBICIS is stored electronically and supported

by the applicable Privacy Impact Assessment(s). Data is protected

through the implementation of access controls--least permissions, role-

based user permissions, event logging, monitoring, security assessment

and authorization reviews, encryption transmission and encrypted data

at rest. Safeguards implemented comply to SBA policies, industry best

practices, and Federal Government standards, memoranda, and circulars.

RECORD ACCESS PROCEDURES:

Individuals wishing to request access to records about them should

submit a Privacy Act request to the SBA Chief, Freedom of Information

and Privacy Act Office, U.S. Small Business Administration, 409 Third

St. SW, Eighth Floor, Washington, DC 20416 or [email protected]. Individuals

must provide their full name, mailing address, personal email address,

telephone number, and a detailed description of the records being

requested. Individuals requesting access must also follow SBA's Privacy

Act regulations regarding verification of identity and access to

records (13 CFR part 102 subpart B).

EXEMPTIONS PROMULGATED FOR THE SYSTEM:

None.

HISTORY:

[FR Doc. 2019-19153, Vol. 84, No. 172]

Jennifer Shieh,

Acting, Deputy Associate Administrator, Office of Investment and

Innovation.

[FR Doc. 2024-08000 Filed 4-15-24; 8:45 am]

BILLING CODE 8026-09-P