Rule 18a-7 – Reports to be Made by Certain Security-Based Swap Dealers and Major Security-Based Swap Participants

Forms and Documents

Document Name	Status
Form X-17A-5 FOCUS Report Part IIIC for Bank SBSDs Form and Instruction	Modified
Form X-17A-5 FOCUS Report Part II for Stand-Alone MSBSPs Form and Instruction	Modified
Form X-17A-5 FOCUS Report Part II for Stand-Alone SBSDs Form and Instruction	Modified
3235-0749 (Rule 18a-7) Supporting Statement - Adopted Release.pdf Supporting Statement A	2021-04-15

IC Document Collections

IC ID	Document Title	Status
223468	Engagement of Accountant for Stand-Alone SBSDs	Modified
223466	Engagement of Accountant for Stand-Alone MSBSPs	Unchanged
223465	FOCUS Report Part IIIC for Bank SBSDs Form and Instruction	Modified
223464	FOCUS Report Part II for Stand-Alone MSBSPs Form and Instruction	Modified
223463	FOCUS Report Part II for Stand-Alone SBSDs Form and Instruction	Modified
223462	Notice of Change in Fiscal Year	Unchanged
223461	Statement Regarding Independent Public Accountant	Modified
223460	Annual Reports for Stand-Alone SBSDs Exempt from Rule 18a-4	Modified
223459	Annual Reports for Stand-Alone MSBSPs	Modified
223457	Customer Statements	Modified
223455	Reports for Model Stand-Alone SBSDs	Modified

ICR Details

OMB Control No: 3235-0749	ICR Reference No: 202104-3235-003
Status: Received in OIRA	Previous ICR Reference No: 201609-3235-002
Agency/Subagency: SEC	Agency Tracking No: TM-270-669
Title: Rule 18a-7 – Reports to be Made by Certain Security-Based Swap Dealers and Major Security-Based Swap Participants
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 05/05/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	265	0
Time Burden (Hours)	3,136	0
Cost Burden (Dollars)	3,018,082	0

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Abstract: Exchange Act Rule 18a-7, as adopted, would establish reporting requirements applicable to stand-alone SBSDs, stand-alone MSBSPs, bank SBSDs, and bank MSBSPs. Rule 18a-7 is modeled on Exchange Act Rule 17a-5, which applies to broker-dealers, but it does not include a parallel requirement for every requirement in Rule 17a-5 because some of the requirements in Rule 17a-5 relate to activities that are not expected or permitted of SBSDs and MSBSPs.

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Authorizing Statute(s): US Code: 15 USC 78o-10 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
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL45	Final or interim final rulemaking	84 FR 68550	12/16/2019

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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: 11

IC Title	Form No.	Form Name
Annual Reports for Stand-Alone MSBSPs
Annual Reports for Stand-Alone SBSDs Exempt from Rule 18a-4
Customer Statements
Engagement of Accountant for Stand-Alone MSBSPs
Engagement of Accountant for Stand-Alone SBSDs
FOCUS Report Part II for Stand-Alone MSBSPs	X-17A-5	Annual Reports
FOCUS Report Part II for Stand-Alone SBSDs	X-17A-5	Annual Reports
FOCUS Report Part IIIC for Bank SBSDs	X-17A-5	Annual Reports
Notice of Change in Fiscal Year
Reports for Model Stand-Alone SBSDs
Statement Regarding Independent Public Accountant

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ICR Summary of Burden

	Total Request	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	265	0	315	-50	0	0
Annual Time Burden (Hours)	3,136	0	4,741	-1,605	0	0
Annual Cost Burden (Dollars)	3,018,082	0	5,250,078	-2,231,996	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to: Changing Regulations

Short Statement: Generally, the estimated burdens have decreased because the estimated number of respondents have decreased. These changes in estimates are discussed in more detail in Item 15 of 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? No

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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: 05/05/2021

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