Exchange Act Rule 18a-5

ICR 201910-3235-012

OMB: 3235-0745

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2019-11-05
ICR Details
3235-0745 201910-3235-012
Historical Inactive 201606-3235-012
SEC TM-270-667
Exchange Act Rule 18a-5
New collection (Request for a new OMB Control Number)   No
Regular
Comment filed on proposed rule 11/20/2019
Retrieve Notice of Action (NOA) 11/18/2019
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
36 Months From Approved
0 0 0
0 0 0
0 0 0

Proposed new Exchange Act Rule 18a-5 would establish recordkeeping requirements applicable to stand-alone SBSDs, stand-alone MSBSPs, bank SBSDs, and bank MSBSPs. Proposed Rule 18a-5 is modeled on Exchange Act Rule 17a-3, which applies to broker-dealers, but proposed Rule 18a-5 does not include a parallel requirement for every requirement in Rule 17a-3 because some of the requirements in Rule 17a-3 relate to activities that are not expected or permitted of SBSDs and MSBSPs. Based on comments received on the initial proposal, the Commission subsequently proposed to modify certain paragraphs in proposed Rule 18a-5 would reduce the burden on firms to comply with the Rule.

PL: Pub.L. 111 - 203 764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
   US Code: 15 USC 78o-10(f)(2) Name of Law: Securities Exchange Act of 1934
  
PL: Pub.L. 111 - 203 764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010

3235-AL45 Proposed rulemaking 84 FR 24206 05/24/2019

Yes

No
Yes
Changing Regulations
The Commission proposed modifications based on comments received on proposed Rule 18a-5 that would decrease some of the hour burdens.

No
    Yes
    No
No
Yes
No
Uncollected
Valentina Deng 202 551-5778

  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.
11/18/2019


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