Rule 3a71-3(d) - Conditional Exception from De Minimis Counting Requirement in Connection with Certain Transactions Arranged, Negotiated or Executed in the United States

Forms and Documents

Document Name	Status
Rule 3a71-3(d) Supporting Statement (Proposed Rule).pdf Supporting Statement A	2019-09-20

IC Document Collections

IC ID	Document Title	Status
237736	Listed jurisdiction - application	New
237735	Consent to service - drafting/transfer	New
237734	Trading relationship documentation - receipt and maintenance	New
237733	Trading relationship documentation - identification and conveyance	New
237732	Trading relationship documentation - policies and procedures	New
237731	Portfolio reconciliation - initial reconciliation	New
237730	Trade acknowledgement - policies and procedures	New
237728	Trade acknowledgment - requirement	New
237727	Fair and balanced communications - legal costs	New
237726	Fair and balanced communications - statement drafting	New
237725	Fair and balanced communications - internal review	New
237724	Suitability - other counterparties	New
237723	Suitability - swap market counterparties	New
237722	Transaction disclosure - system development/maintenance	New
237721	Transaction disclosures - framework development	New
237720	Title VII Disclosure Policies/procedures	New
237719	Title VII Disclosure Requirement (Group C)	New
237718	Title VII Disclosure Requirement (Group B)	New
237717	Title VII Disclosure Requirement (Group A)	New

ICR Details

OMB Control No: 3235-0771	ICR Reference No: 201909-3235-004
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: SEC	Agency Tracking No: TM-270-817
Title: Rule 3a71-3(d) - Conditional Exception from De Minimis Counting Requirement in Connection with Certain Transactions Arranged, Negotiated or Executed in the United States
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: Comment filed on proposed rule	Conclusion Date: 09/23/2019
	Date Received in OIRA: 09/11/2019
Terms of Clearance: OMB files this comment in accordance with 5 CFR 1320.11(c). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. The next submission to OMB must include the draft final rule.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date		36 Months From Approved
Responses	0	0	0
Time Burden (Hours)	0	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The Securities and Exchange Commission adopted new paragraph (d) to Exchange Act rule 3a71-3, to provide a conditional exception from the security-based swap dealer de minimis counting requirement for certain transactions arranged, negotiated or executed by personnel in the United States.

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Authorizing Statute(s): US Code: 15 USC 78a et seq. Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AM13	Proposed rulemaking	84 FR 24206	05/24/2019

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 19

IC Title	Form No.	Form Name
Title VII Disclosure Requirement (Group B)
Transaction disclosures - framework development
Trade acknowledgement - policies and procedures
Trading relationship documentation - receipt and maintenance
Listed jurisdiction - application
Suitability - swap market counterparties
Trade acknowledgment - requirement
Portfolio reconciliation - initial reconciliation
Title VII Disclosure Requirement (Group A)
Title VII Disclosure Requirement (Group C)
Suitability - other counterparties
Fair and balanced communications - statement drafting
Trading relationship documentation - identification and conveyance
Consent to service - drafting/transfer
Title VII Disclosure Policies/procedures
Transaction disclosure - system development/maintenance
Fair and balanced communications - internal review
Fair and balanced communications - legal costs
Trading relationship documentation - policies and procedures

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

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The burdens would increase because we have proposed a new rule that would entail new hour and cost burdens. These burdens are described in more detail in the Supporting Statement.

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Annual Cost to Federal Government:

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: 09/11/2019

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