OMB.report

Federal forms, ICRs, and supporting documents

Information Collection Request

Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants

ICR 201812-3235-004 · OMB 3235-0732 · Active

Forms and Documents
Document
Name
Status
Supporting Statement A
2019-07-23
IC Document Collections
IC ID
Document
Title
Status
221698
Modified
221697
Modified
221696
Modified
221695
Modified
221694
Modified
221693
Modified
221692
Modified
218480
Modified
218479
Modified
218476
Modified
218475
Modified
218474
Modified
218473
Modified
218472
Modified
218470
Modified
218469
Modified
218468
Modified
218467
Modified
ICR Details
3235-0732 201812-3235-004
Active 201605-3235-009
SEC TM-270-779
Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants
Extension without change of a currently approved collection   No
Regular
Approved without change 09/30/2019
Retrieve Notice of Action (NOA) 07/24/2019
  Inventory as of this Action Requested Previously Approved
09/30/2022 36 Months From Approved 09/30/2019
234,034 0 456,255
554,823 0 1,260,260
2,138,000 0 10,973,333
As required by Title VII of the Dodd-Frank Act, the new section 15F(h) of the Exchange Act will establish business conduct standards for security-based swap ("SBS") dealers and major security-based swap participants in their dealings with counterparties, including special entities. The proposed rules also establish regulations for the chief compliance officer functions within an SBS dealer or major SBS participant. The Commission has also included certain other business conduct requirements for SBS dealers that we believe further the principles that underlie the Dodd-Frank Act.
PL: Pub.L. 111 - 203 764(a) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 15 USC 78a et seq. Name of Law: Securities Exchange Act of 1934
  
PL: Pub.L. 111 - 203 764(a) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Not associated with rulemaking
  84 FR 16753 04/22/2019
84 FR 34978 07/19/2019
No
  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 234,034 456,255 0 0 -222,221 0
Annual Time Burden (Hours) 554,823 1,260,260 0 0 -705,437 0
Annual Cost Burden (Dollars) 2,138,000 10,973,333 0 0 -8,835,333 0
No
No
The estimated annual hour burden has decreased from 1,260,260 hours to 554,823 hours and the estimated annual cost burden has decreased from $10,973,333 to $2,138,000, a decrease of approximately 705,437 hours and $8,835,333 respectively. The primary reason for the reduction in burdens is the elimination of one-time initial hour and cost burdens. All one-time initial burdens have already been incurred and all current burden estimates reflect only ongoing hour and cost burdens. A decrease in the estimate of the number of certain entities and transactions and the amount of certain costs has also contributed to the reduction in burdens.
No
    No
    No
No
Yes
No
Uncollected
Denise Landers 202 551-5544 landersd@sec.gov
  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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
07/24/2019