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

ICR 201906-1210-002

OMB: 1210-0065

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2019-08-14
ICR Details
1210-0065 201906-1210-002
Active 201604-1210-002
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 10/07/2019
Retrieve Notice of Action (NOA) 08/20/2019
  Inventory as of this Action Requested Previously Approved
10/31/2022 36 Months From Approved 10/31/2019
1,550 0 1,000
297 0 192
12,765 0 7,200

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

  84 FR 11573 03/27/2019
84 FR 43164 08/20/2019
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 1,550 1,000 0 0 550 0
Annual Time Burden (Hours) 297 192 0 0 105 0
Annual Cost Burden (Dollars) 12,765 7,200 0 1 5,564 0
No
No
This ICR contains no program changes. Burden estimates were updated to reflect more current data on the membership of the International Securities Lending Association, which are used to inform the assumption of the number of entities using the exemption. Aside from this updated assumption, the Department has updated the burden estimates to reflect current postage rates and the Department’s most recent estimates of labor costs.

$0
No
    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.
08/20/2019


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