Rule 15c3-4; Internal Risk Management Control Systems.

Forms and Documents

Document Name	Status
Rule 15c3-4 Supporting Statement 2013.pdf Supporting Statement A	2013-03-08

IC Document Collections

IC ID	Document Title	Status
43025	Rule 15c3-4; Internal Risk Management Control Systems - existing respondents	Modified
205068	15c3-4 - New respondents maintaining system	New
205063	15c3-4 - New respondents establishing system	New

ICR Details

OMB Control No: 3235-0497	ICR Reference No: 201212-3235-009
Status: Historical Active	Previous ICR Reference No: 200911-3235-001
Agency/Subagency: SEC	Agency Tracking No: TM-270-441
Title: Rule 15c3-4; Internal Risk Management Control Systems.
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: 04/10/2013
	Date Received in OIRA: 03/08/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2016	36 Months From Approved	04/30/2013
Responses	9	0	5
Time Burden (Hours)	3,866	0	1,567
Cost Burden (Dollars)	0	0	404,200

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Abstract: Rule 15c3-4 requires OTC derivatives dealers to establish and document a risk management control system. In addition, the Rule establishes basic principles and minimum standards governing the creation, execution, and review of a firm's risk management control system. These principles and standards are designed to ensure the integrity of the risk measurement, monitoring, and management process.

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Authorizing Statute(s): US Code: 15 USC 78o 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:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 128	01/02/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 15056	03/08/2013
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
15c3-4 - New respondents maintaining system
Rule 15c3-4; Internal Risk Management Control Systems - existing respondents
15c3-4 - New respondents establishing system

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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	9	5	0	0	4	0
Annual Time Burden (Hours)	3,866	1,567	0	0	2,299	0
Annual Cost Burden (Dollars)	0	404,200	0	0	-404,200	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 Commission estimates that a total of eight entities will be registered as OTC derivatives dealers at the end of the next three years, consisting of the four current OTC derivatives dealers and four anticipated registrants (in contrast with the prior estimate of five OTC derivatives dealers, consisting of four current OTC derivatives dealers and one anticipated registrant). The decrease in cost burden from $404,200 to $0 is due to the fact that in the previous submission internal compliance cost was erroneously monetized.

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Annual Cost to Federal Government: $33,264

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]? 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? 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: 03/08/2013

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