View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3235-0718
ICR Reference No:
201502-3235-002
Status:
Historical Active
Previous ICR Reference No:
201406-3235-006
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-629
Title:
Regulation SBSR (Rules 900 - 912) Reporting and Dissemination of Security-Based Swap Information
Type of Information Collection:
New collection (Request for a new OMB Control Number)
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
05/14/2015
Retrieve Notice of Action (NOA)
Date Received in OIRA:
03/19/2015
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
05/31/2018
36 Months From Approved
Responses
5,473,719
0
0
Time Burden (Hours)
1,963,729
0
0
Cost Burden (Dollars)
79,958,904
0
0
Abstract:
The Dodd-Frank Act amends the Exchange Act to require the Commission to adopt rules providing for, among other things (i) the reporting of security-based swaps (SBSs) to a registered security-based swap data repository (SDR) or to the Commission; and (ii) real-time public dissemination of SBS transaction, volume, and pricing information. Pursuant to Sections 763 and 766 of Title VII of the Dodd-Frank Act, the Commission is proposing Regulation SBSR to fulfill these requirements.
Authorizing Statute(s):
PL:
Pub.L. 111 - 203 763, 766
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 763, 766 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AK80
Final or interim final rulemaking
80 FR 14563
03/19/2015
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
15
IC Title
Form No.
Form Name
Coded Information (Rule 903(a)) - Participants With LEIs
Coded Information (Rule 903(a)) - Participants Without LEIs
Error Correction (Rule 905) I - Reporting Sides
Error Correction (Rule 905) II - Non-Reporting (Participants)
Error Correction (Rule 905) III - SDRs
Other Duties of Participants (Rule 906(a)) II - Participant Collections
Other Duties of Participants (Rule 906(b)) III - Participant Information
Other Duties of Participants (Rule 906(c)) IV - Policies and Procedures
Other Duties of Participants (Rule 906) I - SDR Reports
Policies and Procedures of Registered SDRs (Rule 907)
Public Dissemination of Transaction Reports (Rule 902) - SDRs
Registration of SDRs as Securities Information Processors
Reporting Obligations (Rule 901) - Reporting Sides
Reporting Obligations (Rule 901) - SDRs
Special Closing Hours (Rule 904) - SDRs
Substituted Compliance (Rule 908(c)) - Requesting Entities
ICR Summary of Burden
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
5,473,719
0
18,668,110
-13,194,391
0
0
Annual Time Burden (Hours)
1,963,729
0
5,855,066
-3,891,337
0
0
Annual Cost Burden (Dollars)
79,958,904
0
219,666,667
-139,707,763
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
Based on statistical information and data, the number of impacted entities and the number of transactions has declined resulting in a decreased burden. However, based on additional requirements contained in the rules and additional specificity in the requirements of various provisions of the rules, an increase in burden has also occurred.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
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:
David Michehl 202 551-5627
Common Form ICR:
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:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(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;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
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.
Certification Date:
03/19/2015
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