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:
3235-0700
ICR Reference No:
202207-3235-021
Status:
Active
Previous ICR Reference No:
201907-3235-018
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-650
Title:
Rule 18a-4 Segregation requirements for security-based swap dealers and major security-based swap participants.
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:
11/15/2022
Retrieve Notice of Action (NOA)
Date Received in OIRA:
10/12/2022
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
11/30/2025
36 Months From Approved
11/30/2022
Responses
12,438
0
80,465
Time Burden (Hours)
7,647
0
128,849
Cost Burden (Dollars)
2,667
0
58,667
Abstract:
Rule 18a-4 establishes customer protection and segregation requirements for all firms required to register with the SEC under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 as security-based swap dealers and major security-based swap participants. Customer protection and segregation standards ensure that firms do not misappropriate customer assets for their own or other unauthorized uses.
Authorizing Statute(s):
US Code:
15 USC 78a et seq
Name of Law: Securities Exchange Act of 1934
PL:
Pub.L. 111 - 203 763-764
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
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:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
87 FR 48050
08/05/2022
30-day Notice:
Federal Register Citation:
Citation Date:
87 FR 61642
10/12/2022
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
16
IC Title
Form No.
Form Name
IC1 - Rule 18a-4(a) (Special Accounts)-- Initial Burden
IC10 - Rule 18a-4(e)(3) (Disclosure to U.S. Counterparties, Incorporating New Language)-- Initial Burden
IC11 - Rule 18a-4(e)(3) (Disclosure to U.S. Counterparties)-- Ongoing Burden
IC12 - Rule 18a-4(f) (Exemptions, Developing Disclosure Language--Initial Burden
IC13 - Rule 18a-4(f) (Exemptions, Incorporating Disclosure Language)-- Initial Burden
IC14 - Rule 18a-4(f) (Exemptions)-- Ongoing Burden
IC15 - Rule 18a-4(d)(1) (Counterparty Notice, Outside Counsel Review)-- Initial Cost
IC16 - Rule 18a-4 - Subordination Agreements, Outside Counsel Review-- Initial, One-Time Cost
IC2 - Rule 18a-4(a) (Special Accounts)-- Ongoing Burden
IC3 - Rule 18a-4(c) (Customer Reserve Computation)-- Ongoing Burden
IC4 - Rule 18a-4(d)(1) (Counterparty Notice)-- Initial Burden
IC5 - Rule 18a-4(d)(1) (Counterparty Notice)-- Ongoing Burden
IC6 - Rule 18a-4(d)(2) (Subordination Agreements, Drafting)-- Initial Burden
IC7 - Rule 18a-4(d)(2) (Subordination Agreements, Entering Into)-- Initial Burden
IC8 - Rule 18a-4(d)(2) (Subordination Agreements)-- Ongoing Burden
IC9 - Rule 18a-4(e)(3) (Disclosures to U.S. Counterparties, Developing Forms)-- Initial Burden
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
12,438
80,465
0
0
-68,027
0
Annual Time Burden (Hours)
7,647
128,849
0
0
-121,202
0
Annual Cost Burden (Dollars)
2,667
58,667
0
0
-56,000
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 changes in burden are due to changes in the Commission’s estimate of the number of respondents. In particular: • A change in the number of non-broker-dealer SBSDs from 3 to 2; • A change in the number of registered foreign SBSDs from 22 to 29; • A change in the number of non-broker-dealer SBSDs and MSBSPs from 38 to 40; • A change in the number of bank SBSDs from 25 to 29; and • A change in the number of standalone nonbank SBSDs from 6 to 2.
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?
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:
10/12/2022
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