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:
3235-0496
ICR Reference No:
202201-3235-021
Status:
Historical Active
Previous ICR Reference No:
201902-3235-029
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-440
Title:
Rule 15c3-1f (Appendix F to Rule 15c3-1), Optional Market and Credit Risk Requirements for OTC Derivatives Dealers
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:
07/13/2022
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/13/2022
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
07/31/2025
36 Months From Approved
07/31/2022
Responses
5
0
7
Time Burden (Hours)
3,000
0
6,000
Cost Burden (Dollars)
0
0
0
Abstract:
Appendix F provides an alternative net capital requirement and method for determining net capital for a class of dealers active in over-the-counter markets called OTC derivatives dealers. Rule 15c3-1 is intended to ensure that broker-dealers have sufficient capital to protect the assets of customers and to meet their responsibilities to other participants in the financial markets. The rule facilitates the monitoring of the financial condition of securities broker-dealers by the Commission and the various self-regulatory organizations.
Authorizing Statute(s):
US Code:
15 USC 78c, 78d, 78i, 78j, 78l, 78m,
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:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
87 FR 6917
02/07/2022
30-day Notice:
Federal Register Citation:
Citation Date:
87 FR 21984
04/13/2022
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
3
IC Title
Form No.
Form Name
Rule 15c3-1f (Appendix F to Rule 15c3-1) New Registrant Maintenance
Rule 15c3-1f (Appendix F to Rule 15c3-1) New Registrant Start-up
Rule 15c3-1f (Appendix F to Rule 15c3-1), Existing Dealer Maintenance
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
7
0
0
-2
0
Annual Time Burden (Hours)
3,000
6,000
0
0
-3,000
0
Annual Cost Burden (Dollars)
0
0
0
0
0
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 estimated time burden has decreased from approximately 6,000 hours per year to approximately 3,000 hours per year because the estimated number of respondents has decreased from 6 to 3. The Commission now estimates that three OTC derivatives dealers are approved to use Appendix F and that there are no pending applications or anticipated applicants. The Commission previously estimated that a total of six OTC derivatives dealers would be approved to use Appendix F at the end of three years, consisting of three current OTC derivatives dealers, two broker-dealers with pending applications, and one anticipated applicant.
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]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
No
Agency Contact:
Rose Wells 202 942-0143
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:
04/13/2022
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