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:
3235-0718
ICR Reference No:
202210-3235-032
Status:
Active
Previous ICR Reference No:
201905-3235-030
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-629
Title:
Regulation SBSR (Rules 900 - 912) Reporting and Dissemination of Security-Based Swap Information
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:
04/27/2023
Retrieve Notice of Action (NOA)
Date Received in OIRA:
02/10/2023
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
04/30/2026
36 Months From Approved
04/30/2023
Responses
27,600,667
0
5,706,477
Time Burden (Hours)
3,539,483
0
2,066,441
Cost Burden (Dollars)
47,728,783
0
87,419,472
Abstract:
The Dodd-Frank Act amends the Exchange Act to require the Commission to adopt rules providing for, among other things (i) the reporting of security-based swaps (SBSs) to a registered security-based swap data repository (SDR) or to the Commission; and (ii) real-time public dissemination of SBS transaction, volume, and pricing information. Pursuant to Sections 763 and 766 of Title VII of the Dodd-Frank Act, the Commission is adopting Regulation SBSR to fulfill these requirements.
Authorizing Statute(s):
PL:
Pub.L. 111 - 203 763, 766
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 763, 766 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 74689
12/06/2022
30-day Notice:
Federal Register Citation:
Citation Date:
88 FR 8949
02/10/2023
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
23
IC Title
Form No.
Form Name
901 - Clearing Agencies
901 - Platforms
901 - Reporting Sides - New Respondents
905 - Clearing Agencies
905 - Platforms
905 - Reporting Sides - New Respondents
906(c) - Registered Broker-Dealer Participants
906(c) - Registered Clearing Agencies and Platforms
Rule 901 - Reporting Sides
Rule 901 - SDRs
Rule 902 - SDRs
Rule 903(a) - Participants with LEIs
Rule 903(a) - Participants without LEIs
Rule 904 - SDRs
Rule 905 - Participants
Rule 905 - Reporting Sides
Rule 905 - SDR
Rule 906 - SDR
Rule 906(a) - Participants
Rule 906(b) - Participants
Rule 906(c) - Security-Based Swap Dealers and Major Security-Based Swap Participants
Rule 907 - SDR
Rule 908(c) - Requesting Entities
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
27,600,667
5,706,477
0
0
21,894,190
0
Annual Time Burden (Hours)
3,539,483
2,066,441
0
0
1,473,042
0
Annual Cost Burden (Dollars)
47,728,783
87,419,472
0
0
-39,690,689
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 total annual hour burden increased from 2,066,411 hours to 3,539,483 hours. Although the total initial hour burden decreased mainly due to a decrease in the estimated number of reporting sides from 300 to 134, the overall burden increased mainly because the estimated number of participants increased from 4,800 to 15,082. The total annual cost burden decreased from $87,419,472 to $47,728,783. Even though the Commission uniformly revised its cost estimates upward by 15% to account for inflation from 2019 to 2022, the total costs decreased despite the upward adjustment for inflation due to the magnitude of the reduction in the estimated number of respondents, especially reporting sides.
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:
Michou Hai Minh Nguyen 202 551-5634 nguyenm@sec.gov
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:
02/10/2023
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