Securities Lending by Employee Benefit Plans, Prohibited Transaction Exemption 2006-16

ICR 201604-1210-002

OMB: 1210-0065

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2016-04-28
ICR Details
1210-0065 201604-1210-002
Historical Active 201301-1210-001
DOL/EBSA
Securities Lending by Employee Benefit Plans, Prohibited Transaction Exemption 2006-16
Extension without change of a currently approved collection   No
Regular
Approved without change 08/29/2016
Retrieve Notice of Action (NOA) 05/24/2016
  Inventory as of this Action Requested Previously Approved
08/31/2019 36 Months From Approved 08/31/2016
1,000 0 850
192 0 163
7,200 0 4,943

PTE 2006-16 permits an employee benefit plan to lend securities to certain broker-dealers and banks and to make compensation arrangements for lending services provided by a plan fiduciary in connection with such securities loans. In the absence of this exemption, some aspects of these transactions might be prohibited under Section 406 of ERISA. The PTE includes conditions that constitute information collections under the PRA.

US Code: 29 USC 1108(a) Name of Law: Employee Retirement Income Security Acty of 1974
  
None

Not associated with rulemaking

  80 FR 72990 11/23/2015
81 FR 32789 05/24/2016
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 1,000 850 0 0 150 0
Annual Time Burden (Hours) 192 163 0 0 29 0
Annual Cost Burden (Dollars) 7,200 4,943 0 0 2,257 0
No
No
The adjustments to the burden analysis arise from a change to the marketplace using the exemption. Based on changes to the membership of the International Securities Lending Association, the Department has revised the number of entities using the exemption upward from 85 to 100. Aside from the number of entities using the exemption, the Department has factored in inflation in the increased wage and postage rates.

$0
No
No
No
No
No
Uncollected
Chris Cosby 202 693-8540

  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.
05/24/2016


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