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:
3235-0372
ICR Reference No:
201806-3235-007
Status:
Historical Active
Previous ICR Reference No:
201703-3235-012
Agency/Subagency:
SEC
Agency Tracking No:
OMS-270-330
Title:
Municipal Securities Disclosure (17 CFR 240.15c2-12)
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
11/26/2018
Retrieve Notice of Action (NOA)
Date Received in OIRA:
08/24/2018
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
11/30/2021
36 Months From Approved
11/30/2018
Responses
205,449
0
156,390
Time Burden (Hours)
903,805
0
634,457
Cost Burden (Dollars)
19,549,000
0
9,760,000
Abstract:
Rule 15c2-12 is intended to enhance disclosure, and thereby reduce fraud, in the municipal securities market by establishing standards for obtaining, reviewing, and disseminating information about municipal securities by their underwriters.
Authorizing Statute(s):
US Code:
15 USC 78o(c)
Name of Law: Securities Exchange Act of 1934
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AL97
Final or interim final rulemaking
83 FR 44700
08/31/2018
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
9
IC Title
Form No.
Form Name
Broker Dealers Third Party Disclosure
Broker Dealers third party disclosure one-time burden
Issuers (event notices) Third Party Dislosure
Issuers (failure to file notices) Third Party Disclosure
Issuers Annual Filing Third-Party Disclosure
Issuers that use the services of a designated agent
Municipal Securities Rulemaking Board Recordkeeping
Municipal Securities Rulemaking Board Recordkeeping one-time burden
One-time cost for Issuers to revise continuing disclosure agreement
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
205,449
156,390
0
30,451
18,608
0
Annual Time Burden (Hours)
903,805
634,457
0
25,408
243,940
0
Annual Cost Burden (Dollars)
19,549,000
9,760,000
0
5,379,000
4,410,000
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Changing Regulations
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The Commission adopted amendments to Exchange Act Rule 15c2-12. As discussed in the supporting statement, the Commission added new paragraphs (15) and (16) to Rule 15c2-12(b)(5)(i)(C). The burden increase due to agency discretion reflects the increased burden and cost as a result of these new paragraphs.
Annual Cost to Federal Government:
$6,900
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]?
No
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:
Mary Simpkins 202 551-5683
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:
08/24/2018
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