View Information Collection Request (ICR) Package

OMB Control No: 3235-0719	ICR Reference No: 201607-3235-006
Status: Historical Inactive	Previous ICR Reference No: 201503-3235-001
Agency/Subagency: SEC	Agency Tracking No: TM-270-622
Title: Rules 13n-1 to 13n-12: Form SDR, SDR Registration, Duties, and Core Principles and the Form and Manner with which SDRs Must Make Security-Based Swap Data Available to the Commission
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 12/27/2016
	Date Received in OIRA: 08/01/2016
Terms of Clearance: Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). In accordance with 5 CFR 1320, OMB is withholding approval at this time. The agency shall examine public comment in response to the NPRM and will include in the supporting statement of the next ICR--to be submitted to OMB at the final rule stage--a description of how the agency has responded to any public comments on the ICR, including comments on maximizing the practical utility of the collection and minimizing the burden.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2018	36 Months From Approved	09/30/2018
Responses	203	0	203
Time Burden (Hours)	425,009	0	425,009
Cost Burden (Dollars)	99,682,619	0	99,682,619

Abstract: Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act authorizes the Securities and Exchange Commission (the Commission) to regulate security-based swaps and to take steps to encourage accountability and transparency in this market. In an effort to enhance such transparency, section 763(i) of the Act establishes centralized recordkeeping facilities, known as security-based swap data repositories (SDRs), to retain complete records of security-based swap transactions, maintain the integrity of those records, and provide effective access to those records to relevant authorities. Pursuant to sections 763(i) and 766(a) of the Act, transactions in securities-based swaps must be reported to an SDR or the Commission. The Commission is proposing Rules 13n-1 to 13n-11 (Rules) as well as Form SDR to create a structure to register SDRs in accordance with this statutory mandate. Under the Rules, an SDR would be required to register by filing a Form SDR. SDRs would also be required to abide by certain minimum standards set out in the Rules, including a requirement to update Form SDR, abide by certain duties and core principles, maintain data in accordance with the Rules, keep their systems in accordance with the Rules, keep records, provide reports to the Commission, maintain privacy, make certain disclosures, and designate a Chief Compliance Officer (CCO). On December 11, 2015, the Commission proposed to amend the SDR Rules to specify the form and manner with which SDRs would be required to make SBS data available to the Commission. The proposed rule would require that SBS data made available by SDRs be formatted and structured consistently to allow the Commission to accurately analyze data made available by multiple SDRs. Rule 13n-4(b)(5) under the Exchange Act requires an SDR to provide direct electronic access to the Commission (or any designee of the Commission, including another registered entity).

Authorizing Statute(s): US Code: 15 USC 78m(n) Name of Law: Section 13(n) of the Securities Exchange Act of 1934
   US Code: 15 USC 78w(a) Name of Law: Section 23(a) of the Securities Exchange Act of 1934
   PL: Pub.L. 111 - 203 763(i) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 763(i) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL72	Proposed rulemaking	80 FR 79757	12/23/2015

Federal Register Notices & Comments
Did the Agency receive public comments on this ICR? No

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: No

Burden Reduction Due to:

Short Statement: SDR Rules were adopted in the Regulation SDR Adopting Release. The proposed amendment would increase the burdens 1,575 hours annually.

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

View ICR - OIRA Conclusion