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View ICR - OIRA Conclusion

OMB Control No: 3235-0695	ICR Reference No: 201910-3235-005
Status: Historical Active	Previous ICR Reference No: 201609-3235-023
Agency/Subagency: SEC	Agency Tracking No: TM-270-646
Title: Rule 17ad-22 Clearing Agency Standards for Operation and Governance
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/25/2020
Retrieve Notice of Action (NOA)	Date Received in OIRA: 01/06/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2023	36 Months From Approved	03/31/2020
Responses	226	0	209
Time Burden (Hours)	8,093	0	13,398
Cost Burden (Dollars)	13,397,120	0	11,894,080

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion	Change Due to Adjustment in Estimate
Annual Number of Responses	226	209	-3	20
Annual Time Burden (Hours)	8,093	13,398	-145	-5,160
Annual Cost Burden (Dollars)	13,397,120	11,894,080	0	1,503,040

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The burden estimates are lower than those in the 2016 Adopting Release. The lower estimate is primarily attributable to the fact that several of the respondent clearing agencies have already incurred either all or some of the initial burdens associated with the provisions of Rule 17Ad-22(e). At the time that the Commission adopted Rule 17Ad-22(e) in 2016, the respondents had not yet incurred these initial burdens. For that reason, the initial burden estimates for many of the provisions included in Rule 17Ad-22(e) are lower for the prospective PRA extension compared to those that were provided in the PRA analysis that was submitted in connection with the 2016 Adopting Release. Separately, in contrast to the PRA analysis that was submitted in connection with the 2016 Adopting Release, the above analysis for the prospective PRA extension does not include burden estimates for Rule 17Ad-22(c) separate and apart from those that are provided for Rules 17Ad-22(c)(1) and (c)(2). Since the submission of the PRA analysis in the 2016 Adopting Release, the Commission staff has reconsidered the burden estimates that were previously provided for Rule 17Ad-22(c) and noted that the rule does not impose any requirements other than those separately accounted for in the PRA burden estimates provided for Rules 17Ad-22(c)(1) and (c)(2). As such, the Commission staff believes it is appropriate to include only the burden estimates for these two rules.

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

Agency Contact: Andrew Shanbrom 202 551-6410