Rule of Practice 194

Forms and Documents

Document Name	Status
TM Emergency Request Memo 3235-0733 (Rule 194) FINAL (2) dlb.pdf Supplementary Document	2022-04-14
Rule 194 PRA Justification (12.21.2018).pdf Supporting Statement A	2019-02-19

IC Document Collections

IC ID	Document Title	Status
218701	Notices	Unchanged
218699	Applications	Unchanged

ICR Details

OMB Control No: 3235-0733	ICR Reference No: 202204-3235-002
Status: Received in OIRA	Previous ICR Reference No: 201812-3235-008
Agency/Subagency: SEC	Agency Tracking No: TM-270-780
Title: Rule of Practice 194
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 04/25/2022
Date Submitted to OIRA: 04/14/2022

	Requested	Previously Approved
Expiration Date	6 Months From Approved	04/30/2022
Responses	10	10
Time Burden (Hours)	180	180
Cost Burden (Dollars)	0	0

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Abstract: Rule of Practice 194 provides a process for a registered security-based swap dealer or major security-based swap participant to make an application to the Commission for an order permitting an associated person that is a natural person who is subject to a statutory disqualification to effect or be involved in effecting security-based swaps on behalf of the security-based swap dealer or major security-based swap participant.

Emergency Justfication: Due to an Internal Sharepoint Site Tracking filter error, the existing extension approval date of April 30, 2022 for this ICR will be missed. Therefore the SEC is seeking Emergency Extension Consideration. The Securities and Exchange Commission (“Commission”) is requesting emergency consideration of one collection of information pursuant to 44 U.S.C. 3507(j) as implemented at 5 CFR 1320.13. The collection of information is in 3235-0733, titled Rule of Practice 194. The collection of information in Rule of Practice Rule 194 is part of the regulatory structure that permits the Commission to regulate security-based swap dealers and major security-based swap participants (collectively, “SBS Entities”). Specifically, Rule of Practice 194 sets forth the process for an SBS Entity to make an application to the Commission for an order permitting an associated person who is subject to a statutory disqualification to effect or be involved in effecting security-based swaps on behalf of the SBS Entity. The information collected in an application under Rule of Practice 194 is necessary for the Commission to determine whether certain persons should be permitted to effect transactions in security-based swaps. It also assists the Commission with its examination function by identifying individuals that are subject to a statutory disqualification. The emergency extension would prevent the disruption of normal collection efforts pursuant to Rule 194. Emergency approval would allow the Commission to continue to evaluate and monitor the activities of SBS Entities, and would also prevent the expiration of the current approval.

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Authorizing Statute(s): US Code: 15 USC 78o-10(b)(6) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o-10(b)(4) 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
  

Citations for New Statutory Requirements: US Code: 15 USC 78o-10(b)(4) Name of Law: Securities Exchange Act of 1934
US Code: 15 USC 78o-10(b)(6) Name of Law: Securities Exchange Act of 1934

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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

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Applications
Notices

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ICR Summary of Burden

	Total Request	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	10	10	0	0	0	0
Annual Time Burden (Hours)	180	180	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:

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Annual Cost to Federal Government:

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.     Yes

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

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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: 04/14/2022

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