Regulation SBSR (Rules 900 - 912) – Reporting and Dissemination of Security-Based Swap Information

Forms and Documents

Document Name	Status
Supporting Statement Adopted Regulation SBSR - Final - 3-19-15.docx Supporting Statement A	2015-03-19

IC Document Collections

IC ID	Document Title	Status
214964	Substituted Compliance (Rule 908(c)) - Requesting Entities	New
214963	Coded Information (Rule 903(a)) - Participants With LEIs	New
214962	Coded Information (Rule 903(a)) - Participants Without LEIs	New
195792	Registration of SDRs as Securities Information Processors	Removed
195791	Policies and Procedures of Registered SDRs (Rule 907)	Modified
195790	Other Duties of Participants (Rule 906(c)) IV - Policies and Procedures	Modified
195789	Other Duties of Participants (Rule 906(b)) III - Participant Information	Modified
195788	Other Duties of Participants (Rule 906(a)) II - Participant Collections	Modified
195787	Other Duties of Participants (Rule 906) I - SDR Reports	Modified
195786	Error Correction (Rule 905) III - SDRs	Modified
195785	Error Correction (Rule 905) II - Non-Reporting (Participants)	Modified
195784	Error Correction (Rule 905) I - Reporting Sides	Modified
195783	Special Closing Hours (Rule 904) - SDRs	Modified
195782	Public Dissemination of Transaction Reports (Rule 902) - SDRs	Modified
195781	Reporting Obligations (Rule 901) - SDRs	Modified
195780	Reporting Obligations (Rule 901) - Reporting Sides	Modified

ICR Details

OMB Control No: 3235-0718	ICR Reference No: 201502-3235-002
Status: Historical Active	Previous ICR Reference No: 201406-3235-006
Agency/Subagency: SEC	Agency Tracking No: TM-270-629
Title: Regulation SBSR (Rules 900 - 912) – Reporting and Dissemination of Security-Based Swap Information
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/14/2015
	Date Received in OIRA: 03/19/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2018	36 Months From Approved
Responses	5,473,719	0	0
Time Burden (Hours)	1,963,729	0	0
Cost Burden (Dollars)	79,958,904	0	0

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Abstract: The Dodd-Frank Act amends the Exchange Act to require the Commission to adopt rules providing for, among other things (i) the reporting of security-based swaps (“SBSs”) to a registered security-based swap data repository (“SDR”) or to the Commission; and (ii) real-time public dissemination of SBS transaction, volume, and pricing information. Pursuant to Sections 763 and 766 of Title VII of the Dodd-Frank Act, the Commission is proposing Regulation SBSR to fulfill these requirements.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 763, 766 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 763, 766 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AK80	Final or interim final rulemaking	80 FR 14563	03/19/2015

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 15

IC Title	Form No.	Form Name
Error Correction (Rule 905) I - Reporting Sides
Error Correction (Rule 905) III - SDRs
Policies and Procedures of Registered SDRs (Rule 907)
Special Closing Hours (Rule 904) - SDRs
Error Correction (Rule 905) II - Non-Reporting (Participants)
Other Duties of Participants (Rule 906(c)) IV - Policies and Procedures
Other Duties of Participants (Rule 906(b)) III - Participant Information
Coded Information (Rule 903(a)) - Participants With LEIs
Registration of SDRs as Securities Information Processors
Coded Information (Rule 903(a)) - Participants Without LEIs
Substituted Compliance (Rule 908(c)) - Requesting Entities
Other Duties of Participants (Rule 906(a)) II - Participant Collections
Reporting Obligations (Rule 901) - Reporting Sides
Public Dissemination of Transaction Reports (Rule 902) - SDRs
Other Duties of Participants (Rule 906) I - SDR Reports
Reporting Obligations (Rule 901) - SDRs

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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	5,473,719	0	18,668,110	-13,194,391	0	0
Annual Time Burden (Hours)	1,963,729	0	5,855,066	-3,891,337	0	0
Annual Cost Burden (Dollars)	79,958,904	0	219,666,667	-139,707,763	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: Based on statistical information and data, the number of impacted entities and the number of transactions has declined resulting in a decreased burden. However, based on additional requirements contained in the rules and additional specificity in the requirements of various provisions of the rules, an increase in burden has also occurred.

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Annual Cost to Federal Government: $0

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]? 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

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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: 03/19/2015

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