Interagency Statement on Sound Practices Concerning Complex Structured Finance Activities

Forms and Documents

Document Name	Status
Press Release (2).doc Supplementary Document	2006-10-25
CSFT SS.doc Supporting Statement A	2006-10-25

IC Document Collections

IC ID	Document Title	Status
45812	Interagency Statement on Sound Practices Concerning Complex Structured Finance Activities Other-Policy Statement	New

ICR Details

OMB Control No: 3235-0622	ICR Reference No: 200709-3235-029
Status: Historical Active	Previous ICR Reference No: 200610-3235-020
Agency/Subagency: SEC	Agency Tracking No: 270-560
Title: Interagency Statement on Sound Practices Concerning Complex Structured Finance Activities
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: 09/27/2007
	Date Received in OIRA: 09/27/2007
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2009	36 Months From Approved
Responses	5	0	0
Time Burden (Hours)	125	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The Interagency Statement would be a policy statement providing guidance on internal controls and procedures for large firms that conduct a business in complex structured finance transactions. This Interagency Statement is unlikely to have any application to any small businesses. We expect it to provide guidance to only 5 large broker-dealer registrants in addition to the commercial banking entities overseen by the other financial services regulators. The other agencies that are proposing the Interagency Statement for public comment are the Office of the Comptroller of the Currency (“OCC”), the Board of Governors of the Federal Reserve System (“Fed”), Office of Thrift Supervion (“OTS”) and Federal Deposit Insurance Corporation (“FDIC”).

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Authorizing Statute(s): US Code: 15 USC 78a Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AJ54	Final or interim final rulemaking	72 FR 1372	01/11/2007

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 18030	04/10/2006
30-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 28326	05/16/2006
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Interagency Statement on Sound Practices Concerning Complex Structured Finance Activities

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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	0	0	0	5	0
Annual Time Burden (Hours)	125	0	0	0	125	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:

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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: 10/25/2006

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