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:
3235-0675
ICR Reference No:
201805-3235-023
Status:
Historical Active
Previous ICR Reference No:
201504-3235-002
Agency/Subagency:
SEC
Agency Tracking No:
CF-270-620
Title:
Rule 15Ga-2 and Form ABS-15G
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:
10/18/2018
Retrieve Notice of Action (NOA)
Date Received in OIRA:
06/25/2018
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2021
36 Months From Approved
10/31/2018
Responses
1,343
0
1,482
Time Burden (Hours)
19,447
0
28,453
Cost Burden (Dollars)
2,469,162
0
2,205,095
Abstract:
Form ABS-15G is used for reports of information required under Rule 15Ga-1 and Rule 15Ga-2 of the Exchange Act of 1934. Exchange Act Rule 15Ga-1 requires asset-backed securitizers to provide disclosure regarding fulfilled and unfulfilled repurchase requests with respect to asset-backed securities. Rule 15Ga-2 requires an issuer or underwriter of certain Exchange Act-ABS that are to be rated by an NRSRO to submit a Form ABS-15G.
Authorizing Statute(s):
US Code:
15 USC 78c(b), 78l, 78m, 78o, 78o-7
Name of Law: Securities Exchange Act of 1934
US Code:
15 USC 78q, 78w(a), 78ll, 78mm
Name of Law: Securities Exchange Act of 1934
US Code:
15 USC 77e, 77f, 77g, 77j, 77s(a)
Name of Law: Securities Act of 1933
PL:
Pub.L. 111 - 203 943
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
US Code:
15 USC 77z-3
Name of Law: Securities Act of 1933
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
83 FR 16417
04/16/2018
30-day Notice:
Federal Register Citation:
Citation Date:
83 FR 28285
06/18/2018
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
2
IC Title
Form No.
Form Name
Form ABS-15G annual reporting burden
SEC 2860
Form ABS-15G
Rule 15Ga-2 and Form ABS-15G Annual Reporting
Rule 15Ga-2 and Form ABS-15G one-time reporting
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
1,343
1,482
0
0
-139
0
Annual Time Burden (Hours)
19,447
28,453
0
0
-9,006
0
Annual Cost Burden (Dollars)
2,469,162
2,205,095
0
0
264,067
0
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:
The decrease in burden of 9,006 hours and the increase in cost burden of $264,067 is due to an adjustment in the way the Commission calculated the burden for Rule 15Ga-2 and Form ABS-15G. Also, an adjustment was made to the burden because of the decrease of filers using Rule 15Ga-2 and Form ABS-15G. In addition, Rule15Ga-1 and Form ABS-15G had a one-time reporting requirement which expired as of February 14, 2012, resulting in a decrease of 11,200 burden hours. However, there was increase of 213 burden hours for Rule 15Ga-2 and Form ABS-15G due to increase in the number of filers using the requirement.
Annual Cost to Federal Government:
$1,000
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:
Felicia Kung 703 551-3430
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:
06/25/2018
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