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:
3235-0701
ICR Reference No:
201907-3235-015
Status:
Historical Active
Previous ICR Reference No:
201305-3235-001
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-649
Title:
Rule 18a-1 Net Capital Requirements For Security-Based Swap Dealers For Which There Is Not a Prudential Regulator
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:
10/28/2019
Retrieve Notice of Action (NOA)
Date Received in OIRA:
08/26/2019
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2022
36 Months From Approved
Responses
640
0
0
Time Burden (Hours)
26,545
0
0
Cost Burden (Dollars)
13,475,000
0
0
Abstract:
Rule 18a-1 establishes net capital standards and requirements for nonbank firms not subject to Rule 15c3-1 and required to register with the SEC under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 as security-based swap dealers. Net capital standards ensure that firms maintain sufficient liquid assets to meet all customer obligations.
Authorizing Statute(s):
PL:
Pub.L. 111 - 203 763 & 764
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
US Code:
15 USC 78a et seq.
Name of Law: Securities Exchange Act of 1934
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 763-764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AL12
Final or interim final rulemaking
84 FR 43872
08/22/2019
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
10
IC Title
Form No.
Form Name
18a-1(c) Industry Sector Classification
18a-1(g) Risk Management Control System
Rule 18a-1 - Subordinated Loan Agreements
Rule 18a-1 Liquidity Stress Testing
Rule 18a-1(a) VaR Models
Rule 18a-1(c) - Account Control Agreement Legal Analysis
Rule 18a-1(c) - Account Control Agreement Legal Analysis
Rule 18a-1(c) - Account Control Agreement Opinion of Counsel
Rule 18a-1(c) Account Control Agreement Opinion of Counsel
Rule 18a-1(d) (VaR Models)
Rule 18a-1(h) Commission Notices
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
640
0
33
607
0
0
Annual Time Burden (Hours)
26,545
0
41,988
-15,443
0
0
Annual Cost Burden (Dollars)
13,475,000
0
4,176,500
9,298,500
0
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:
Yes
Burden Reduction Due to:
Changing Regulations
Short Statement:
Based on comments received on the proposal, the Commission is adopting several new ICs and is not adopting one that was previously proposed. In addition, the Commission has reduced its estimated number of respondents for several ICs due to the adoption of a new rule (Rule 18a-10). Finally, one IC was inadvertently left out of the submission for the proposed rule (although it was included in the notice of proposed rulemaking) and it has been included here.
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:
Sheila Swartz 202 551-5545
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:
08/26/2019
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