Rule 17ad-22 Clearing Agency Standards for Operation and Governance

ICR 201910-3235-005

OMB: 3235-0695

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2019-10-11
IC Document Collections
IC ID
Document
Title
Status
238130
New
238128
New
238127
New
238126
New
238125
New
238124
New
238123
New
238122
New
238121
New
238120
New
238119
New
238118
New
238117
New
238116
New
238115
New
238114
New
238113
New
238112
New
238111
New
238110
New
238109
New
238107
New
238106
New
238102
New
223780
Modified
223779
Modified
223778
Modified
223777
Modified
223776
Modified
223775
Modified
223774
Modified
223773
Modified
223772
Modified
223771
Modified
223770
Modified
223769
Modified
223768
Modified
223767
Modified
223766
Modified
223765
Modified
223764
Modified
223763
Modified
223762
Modified
223761
Modified
223760
Modified
223759
Modified
223758
Modified
204630
Removed
203049
Modified
203048
Modified
203044
Modified
203043
Modified
203040
Modified
ICR Details
3235-0695 201910-3235-005
Historical Active 201609-3235-023
SEC TM-270-646
Rule 17ad-22 Clearing Agency Standards for Operation and Governance
Extension without change of a currently approved collection   No
Regular
Approved without change 03/25/2020
Retrieve Notice of Action (NOA) 01/06/2020
  Inventory as of this Action Requested Previously Approved
03/31/2023 36 Months From Approved 03/31/2020
226 0 209
8,093 0 13,398
13,397,120 0 11,894,080

Rule 17Ad-22 sets standards for the operation and governance of “covered clearing agencies” (which consist of designated clearing agencies, clearing agencies involved in activities with a more complex risk profile for which the Commodity Futures Trading Commission is not the Supervisory Agency, and any clearing agency determined to be a covered clearing agency by the Commission). Specifically, Rule 17Ad-22 requires covered clearing agencies to establish, implement, maintain and enforce written policies and procedures designed to promote effective risk management procedures and controls as well as meet the statutory requirements under the Exchange Act on an ongoing basis.

US Code: 15 USC 78q-1 Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 5464(a)(2) Name of Law: Wall Street Reform and Consumer Protection Act
   US Code: 15 USC 78c-3 Name of Law: Securities Exchange Act of 1934
  
US Code: 12 USC 5464(a)(2) Name of Law: Wall Street Reform and Consumer Protection Act

Not associated with rulemaking

  84 FR 57929 10/29/2019
85 FR 149 01/02/2020
No

52
IC Title Form No. Form Name
IC24 - 17Ad-22(e)(9) (for respondents already registered)
IC26 - 17Ad-22(e)(10) (for respondents already registered)
IC44 - 17Ad-22(e)(19) (for respondent not registered)
IC46 - 7Ad-22(e)(20) (for respondent not registered)
IC50 - 17Ad-22(e)(22) (for respondent not registered)
IC52 - 17Ad-22(e)(23) (for respondent not registered)
IC3 - Rules 17Ad-22(b)(5)-(7)
IC41 - 17Ad-22(e)(18) (for respondents already registered)
Rule 17Ad-22(e)(1)
IC10 - 17Ad-22(e)(2) (for respondents already registered)
IC12 - 17Ad-22(e)(3) (for respondents already registered)
IC20 - 17Ad-22(e)(7) (for respondents already registered)
IC14 - 17Ad-22(e)(4) (for respondents already registered)
IC16 - 17Ad-22(e)(5) (for respondents already registered)
IC22 - 17Ad-22(e)(8) (for respondents already registered)
IC29 - 17Ad-22(e)(12) (for respondents already registered)
IC31 - 17Ad-22(e)(13) (for respondents already registered)
IC33 - 17Ad-22(e)(14) (for respondents already registered)
IC 35 - 17Ad-22(e)(15) (for respondents already registered)
IC18 - 17Ad-22(e)(6) (for respondents already registered)
IC 37 - 17Ad-22(e)(16) (for respondents already registered)
IC39 - 17Ad-22(e)(17) (for respondents already registered
IC43 - 17Ad-22(e)(19) (for respondents already registered)
IC47 - 17Ad-22(e)(21) (for respondents already registered)
IC49 - 17Ad-22(e)(22) (for respondents already registered)
IC51 - 17Ad-22(e)(23) (for respondents already registered)
IC2 - Rule 17Ad-22(b)(4) - Model Validation
IC4 - Rule 17Ad-22(c)(1) - Record of Financial Resources
IC1 - Rules 17Ad-22(b)(1)-(3)
IC5 - Rule 17Ad-22(c)(2) (for respondents already registered)
IC28 - Rule 17Ad-22(e)(11)
IC45 - 17Ad-22(e)(20) (for respondents already registered)
IC7 - Rules 17Ad-22(d)(1)-(15)
IC6 - Rule 17Ad-22(c)(2) (for respondents not registered)
IC11 - 17Ad-22(e)(2) (for respondent not registered
IC13 - 17Ad-22(e)(3) (for respondent not registered)
IC19 - 17Ad-22(e)(6) (for respondent not registered)
IC25 - 17Ad-22(e)(9) (for respondent not registered)
IC36 - 17Ad-22(e)(15) (for respondent not registered)
Rule 17Ad-22(c)
IC9 - 17Ad-22(e)(1) (for respondent not registered)
IC17 - 17Ad-22(e)(5) (for respondent not registered)
IC15 - 17Ad-22(e)(4) (for respondent not registered)
IC21 - 17Ad-22(e)(7) (for respondent not registered)
IC30 - 17Ad-22(e)(12) (for respondents not registered)
IC32 - 17Ad-22(e)(13) (for respondent not registered)
IC34 - 17Ad-22(e)(14) (for respondent not registered)
IC40 - 17Ad-22(e)(17) (for respondent not registered)
IC23 - 17Ad-22(e)(8) (for respondent not registered)
IC27 - 17Ad-22(e)(10) (for respondent not registered)
IC38 - 17Ad-22(e)(16) (for respondent not registered)
IC42 - 17Ad-22(e)(18) (for respondent not registered)
IC48 - 17Ad-22(e)(21) (for respondent not registered)

  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 226 209 0 -3 20 0
Annual Time Burden (Hours) 8,093 13,398 0 -145 -5,160 0
Annual Cost Burden (Dollars) 13,397,120 11,894,080 0 0 1,503,040 0
No
Yes
Miscellaneous Actions
The burden estimates are lower than those in the 2016 Adopting Release. The lower estimate is primarily attributable to the fact that several of the respondent clearing agencies have already incurred either all or some of the initial burdens associated with the provisions of Rule 17Ad-22(e). At the time that the Commission adopted Rule 17Ad-22(e) in 2016, the respondents had not yet incurred these initial burdens. For that reason, the initial burden estimates for many of the provisions included in Rule 17Ad-22(e) are lower for the prospective PRA extension compared to those that were provided in the PRA analysis that was submitted in connection with the 2016 Adopting Release. Separately, in contrast to the PRA analysis that was submitted in connection with the 2016 Adopting Release, the above analysis for the prospective PRA extension does not include burden estimates for Rule 17Ad-22(c) separate and apart from those that are provided for Rules 17Ad-22(c)(1) and (c)(2). Since the submission of the PRA analysis in the 2016 Adopting Release, the Commission staff has reconsidered the burden estimates that were previously provided for Rule 17Ad-22(c) and noted that the rule does not impose any requirements other than those separately accounted for in the PRA burden estimates provided for Rules 17Ad-22(c)(1) and (c)(2). As such, the Commission staff believes it is appropriate to include only the burden estimates for these two rules.

$0
No
    No
    No
No
Yes
No
Uncollected
Andrew Shanbrom 202 551-6410

  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.
01/06/2020


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