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
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.