Rule 15Fi-2 Trade Acknowledgment and Verification of Security-Based Swap Transactions

Forms and Documents

Document Name	Status
3235-0713 30 Day Notice.pdf Supplementary Document	2020-01-16
3235-0713 60 Day Notice.pdf Supplementary Document	2020-01-16
2019 15Fi-2 Supporting Statement.pdf Supporting Statement A	2019-11-04
Exchange_Act_Sec._15F.pdf Supplementary Document	2014-03-24

IC Document Collections

IC ID	Document Title	Status
238283	IC4 - Policies and Procedures - Ongoing Burden	New
238282	IC2 - Ongoing Support of OMSs	New
210892	IC3 - Policies and Procedures - Initial Burden	Modified
210891	IC1 - Initial Modification of OMSs	Modified

ICR Details

OMB Control No: 3235-0713	ICR Reference No: 201909-3235-010
Status: Active	Previous ICR Reference No: 201606-3235-010
Agency/Subagency: SEC	Agency Tracking No: TM-270-633
Title: Rule 15Fi-2 Trade Acknowledgment and Verification of Security-Based Swap Transactions
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: 03/31/2020
	Date Received in OIRA: 01/16/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2023	36 Months From Approved	03/31/2020
Responses	220	0	410,080
Time Burden (Hours)	34,155	0	34,155
Cost Burden (Dollars)	0	0	0

---

Abstract: Rule 15Fi-2 prescribes documentation standards for the timely and accurate acknowledgment and verification of SBS transactions by SBS Entities. The rule contains seven paragraphs: (a) the trade acknowledgment obligations of specific SBS Entities; (b) the prescribed time frames under which a trade acknowledgment must be provided; (c) the form and content requirements of the trade acknowledgment; (d) SBS Entities’ verification obligations; (e) a limited exception from the requirement to provide a clearing agency a trade acknowledgment in a clearing transaction; (f) a limited exception from the requirement to provide a trade acknowledgment for certain transactions executed on a security-based swap execution facility or a national securities exchange or accepted for clearing by a clearing agency; and (g) a limited exemption from the requirements of Exchange Act Rule 10b-10 for a broker-dealer acting as principal for its own account in a security-based swap transaction.

---

Authorizing Statute(s): US Code: 15 USC 78o-8(i) Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: US Code: 15 USC 78o-8(i) Name of Law: Securities Exchange Act of 1934

---

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:
	84 FR 60461	11/08/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 2762	01/16/2020
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
IC3 - Policies and Procedures - Initial Burden
IC1 - Initial Modification of OMSs
IC4 - Policies and Procedures - Ongoing Burden
IC2 - Ongoing Support of OMSs

---

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	220	410,080	0	0	-409,860	0
Annual Time Burden (Hours)	34,155	34,155	0	0	0	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: There is no change in burden. As noted above, the compliance date for the Rules has not yet passed, and the staff has not changed its estimates of the burdens and costs the respondents will incur when the compliance date is in effect. The staff has, however, changed how the burdens in IC1 and IC2 are calculated in order to more effectively present the burdens for each SBS entity. When the rule was adopted, the staff viewed each trade acknowledgement as a response, with each response having a very low burden associated with it. Practically speaking, however, the burden associated with modifying and supporting OMSs is not dependent on the number of trade acknowledgments sent; the burden will not change regardless of that number. Therefore, we have revised the calculation so that it has the number of SBS entities as the respondents and the number of hours to modify or support the OMS as the burden per respondent. Both the earlier analysis and the current analysis yield the same number of burden hours per year. In addition, the burdens were previously presented as two ICs, but we have separated them into four (i.e., the first burden is now IC1 and IC2 and the second burden is now IC3 and IC4). We did this so the estimates would be easier to follow and to revise in the future.

---

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? Uncollected

---

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: 01/16/2020

---