Rules 13n-1 to 13n-11 and Form SDR

Forms and Documents

Document Name	Status
Form SDR Registration on Form SDR: 13n-1(b) and 13n-3(a) and Form SDR Form and Instruction	Modified
Supporting Statement - First Extension of SDR Rules and Form SDR - 2017.pdf Supporting Statement A	2018-06-22

IC Document Collections

IC ID	Document Title	Status
215673	Privacy Requirements: 13n-9(b)(2)	Unchanged
215672	Privacy Requirements: 13n-9(b)(1) and 13n-4(b)(8)	Unchanged
215671	Procedures and Facilities to Resolve Disputes: 13n-5(b)(6)	Unchanged
215670	Conflict of Interest Controls: 13n-4(c)(3)	Unchanged
215669	Written Policies and Procedures for Board and Senior Management; 13n-4(c)(2)(iv)	Unchanged
215668	Policies and procedures to review any prohibition or limitation: 13n-4(c)(1)(iv)	Unchanged
215667	Establish and Enforce Objective Criteria: 13n-4(c)(1)(iii)	Unchanged
215666	Tagging Financial Reports: 13n-11(d) and (f)	Unchanged
215665	Annual Financial Reports: 13n-11(f) and (g)	Unchanged
215664	Prepare and Submit Annual Compliance Report: 13n-11(d), (e), and (h)	Unchanged
215663	Establish Procedures for Remediation of Compliance Issues: 13n-11(c)(6) and (7)	Unchanged
215660	Disclosure: 13n-10	Unchanged
215659	Reports: 13n-8	Unchanged
215658	Storage of Records: 13n-7(b)	Unchanged
215657	Make and Keep Records of Persons at Each Office: 13n-7(a)(1)	Unchanged
215634	Policies and Procedures: 13n-5(b)(1), (2), (3), and (5) and 13n-6	Unchanged
215633	IT Systems: 13n-4(b)(2) and (4) and 13n-5	Unchanged
215632	Withdrawal from Registration: 13n-2	Unchanged
215630	Amendments to Form SDR: 13n-1(d)	Unchanged
195313	Certification and Opinion of Counsel for Non-Resident SDRs: 13n-1(f)	Unchanged
195295	Registration on Form SDR: 13n-1(b) and 13n-3(a) and Form SDR Form and Instruction	Modified

ICR Details

OMB Control No: 3235-0719	ICR Reference No: 201803-3235-002
Status: Active	Previous ICR Reference No: 201503-3235-001
Agency/Subagency: SEC	Agency Tracking No: TM-270-622
Title: Rules 13n-1 to 13n-11 and Form SDR
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: 09/13/2018
	Date Received in OIRA: 06/22/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2021	36 Months From Approved	09/30/2018
Responses	203	0	203
Time Burden (Hours)	425,009	0	425,009
Cost Burden (Dollars)	99,682,619	0	99,682,619

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Abstract: Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act authorizes the Securities and Exchange Commission (the Commission) to regulate security-based swaps and to take steps to encourage accountability and transparency in this market. In an effort to enhance such transparency, section 763(i) of the Act establishes centralized recordkeeping facilities, known as security-based swap data repositories (SDRs), to retain complete records of security-based swap transactions, maintain the integrity of those records, and provide effective access to those records to relevant authorities. Pursuant to sections 763(i) and 766(a) of the Act, transactions in securities-based swaps must be reported to an SDR or the Commission. The Commission is proposing Rules 13n-1 to 13n-11 (“Rules”) as well as Form SDR to create a structure to register SDRs in accordance with this statutory mandate. Under the Rules, an SDR would be required to register by filing a Form SDR. SDRs would also be required to abide by certain minimum standards set out in the Rules, including a requirement to update Form SDR, abide by certain duties and core principles, maintain data in accordance with the Rules, keep their systems in accordance with the Rules, keep records, provide reports to the Commission, maintain privacy, make certain disclosures, and designate a Chief Compliance Officer (“CCO”).

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Authorizing Statute(s): US Code: 15 USC 78m(n) Name of Law: Section 13(n) of the Securities Exchange Act of 1934
   US Code: 15 USC 78w(a) Name of Law: Section 23(a) of the Securities Exchange Act of 1934
   PL: Pub.L. 111 - 203 763(i) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 763(i) 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:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 16420	04/16/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 28295	06/18/2018
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 21

IC Title	Form No.	Form Name
Amendments to Form SDR: 13n-1(d)
Registration on Form SDR: 13n-1(b) and 13n-3(a) and Form SDR	SDR	Form SDR: APPLICATION OR AMENDMENT TO APPLICATION FOR REGISTRATION OR WITHDRAWAL FROM REGISTRATION AS SECURITY-BASED SWAP DATA REPOSITORY UNDER THE SECURITIES EXCHANGE ACT OF 1934
Policies and procedures to review any prohibition or limitation: 13n-4(c)(1)(iv)
Conflict of Interest Controls: 13n-4(c)(3)
Procedures and Facilities to Resolve Disputes: 13n-5(b)(6)
Privacy Requirements: 13n-9(b)(1) and 13n-4(b)(8)
Privacy Requirements: 13n-9(b)(2)
Disclosure: 13n-10
Establish Procedures for Remediation of Compliance Issues: 13n-11(c)(6) and (7)
Written Policies and Procedures for Board and Senior Management; 13n-4(c)(2)(iv)
Make and Keep Records of Persons at Each Office: 13n-7(a)(1)
Storage of Records: 13n-7(b)
Reports: 13n-8
Annual Financial Reports: 13n-11(f) and (g)
Certification and Opinion of Counsel for Non-Resident SDRs: 13n-1(f)
Withdrawal from Registration: 13n-2
IT Systems: 13n-4(b)(2) and (4) and 13n-5
Policies and Procedures: 13n-5(b)(1), (2), (3), and (5) and 13n-6
Prepare and Submit Annual Compliance Report: 13n-11(d), (e), and (h)
Establish and Enforce Objective Criteria: 13n-4(c)(1)(iii)
Tagging Financial Reports: 13n-11(d) and (f)

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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	203	203	0	0	0	0
Annual Time Burden (Hours)	425,009	425,009	0	0	0	0
Annual Cost Burden (Dollars)	99,682,619	99,682,619	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: $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

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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: 06/22/2018

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