Pre-approval
contingent upon no substantive changes to this collection after
adoption of the final rule. Otherwise this collection should be
re-submitted to OMB for review.
Inventory as of this Action
Requested
Previously Approved
04/30/2011
6 Months From Approved
1,000
0
0
527,000
0
0
0
0
0
TTo implement Section 766 of the
Dodd-Frank Wall Street Reform and Consumer Protection Act, the
Commission is adopting an interim final temporary rule that
requires specified counterparties to security-based swap
transactions entered into on or before July 22, 2010 to (1) report
certain information relating to those transactions to a registered
security-based swap data repository or to the Commission and (2)
report information relating to those transactions to the Commission
upon request.
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 by 5 C.F.R. § 1320.13. The title
for this collection of information is Rule 13Aa-2T Interim Rule
for Reporting Security-Based Swap Transactions. In connection with
this request, the Commission has determined: 1. The collection of
information is needed prior to the time periods established under
the Paperwork Reduction Act of 1995, 44 U.S.C. § 3501 et seq.
(PRA) and applicable regulations, 5 C.F.R. § 1320.1 et seq. 2.
The collection of information is mandated under Section 766 of the
Frank-Dodd Act. The Dodd-Frank Act adds Section 13A to the
Securities Exchange Act of 1934, which requires, among other
things, that security-based swaps entered into before July 21,
2010, the terms of which had not expired as of that date
(pre-enactment security-based swaps), be reported to a registered
security-based swap data repository or the Commission. The
Commission is directed to adopt a temporary rule to govern such
reporting within 90 days of the enactment of the Dodd-Frank Act.
Due to the short time between enactment of the statute and the
deadline to promulgate the final interim temporary rule, the
Commission is unable to solicit public comment on the collection
and estimated burden. 3. For the reasons explained above, the
collection of information is essential to the mission of the
Commission. 4. The Commission cannot reasonably comply with the
normal clearance requirement of the PRA and applicable regulations
because the use of normal clearance procedures is reasonably likely
to prevent or disrupt the collection of information. 5. The
Commission requests that OMB approve or disapprove the collection
of information by October 1, 2010. 6. The Commission requests that
OMB waive the notice requirement set forth in 5 C.F.R. §
1320.5(a)(1)(iv).
PL:
Pub.L. 111 - 203 766 Name of Law: Dodd-Frank Wall Street Reform
and Consumer Protection Act
This is a new rule, which
requires the reporting of certain information. The annual hourly
burden will be 527,000 hours for the 1,000 responses that are
required.
$0
No
No
No
Yes
No
Uncollected
Kathleen Gray 202 551-5305
grayk@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.
Interim Rule for Reporting Pre-Enactment Security-Based Swap Transactions