Rule 18a-10 - Alternative compliance mechanism for security-based swap dealers that are registered as swap dealers and have limited security-based swap activities

Forms and Documents

Document Name	Status
Supporting Statement (Rule 18a-10-- Request for New OMB Number).pdf Supporting Statement A	2021-05-04

IC Document Collections

IC ID	Document Title	Status
247151	Rule 18a-10 - Simultaneous Notification	New
247150	Rule 18a-10 - Notices	New
247121	Rule 18a-10 - Update Disclosures	New
247052	Rule 18a-10 - Incorporate Disclosure Language	New
247051	Rule 18a-10 - Develop Disclosure Language	New

ICR Details

OMB Control No:	ICR Reference No: 202104-3235-024
Status: Received in OIRA	Previous ICR Reference No:
Agency/Subagency: SEC	Agency Tracking No:
Title: Rule 18a-10 - Alternative compliance mechanism for security-based swap dealers that are registered as swap dealers and have limited security-based swap activities
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	3,008	0
Time Burden (Hours)	10,021	0
Cost Burden (Dollars)	0	0

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Abstract: Rule 18a-10 establishes an alternative compliance mechanism under which a stand-alone security-based swap delaer that is also registered as a swap dealer and that predominantly engages in a swaps business may elect to comply with the captial, margin, segregation and recordkeeping requirements of the Commodity Exchange Act and the rules thereunder applicable to swap dealers in lieu of complying with Rules 18a-1, and 18a-3 through 18a-9. NOTE: The information collection in Rule 18a-10 was previously reviewed and approved as part of the information collection for Rule 18a-3 (3235-0702). However, the Commission is making a minor revision to the collections in Rule 18a-10 in connection with a subsequent amendment to the rule, and we are requesting a separate OMB number for Rule 18a-10.

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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-AL12	Proposed 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: 5

IC Title	Form No.	Form Name
Rule 18a-10 - Develop Disclosure Language
Rule 18a-10 - Incorporate Disclosure Language
Rule 18a-10 - Notices
Rule 18a-10 - Simultaneous Notification
Rule 18a-10 - Update Disclosures

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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	3,008	0	0	3,008	0	0
Annual Time Burden (Hours)	10,021	0	0	10,021	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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: All but one of the burdens in this information collection were previously reviewed and approved as part of OMB No. 3235-0702 and, other than being moved to a new OMB number, are unchanged. However, the Commission made a subsequent amendment to the rule that resulted in a minor (rounded up to one hour) increase in the total burden. The amendment to Rule 18a-10 that resulted in the increase in burden was not proposed; it was added in response to comments on the 2019 proposal. The change is discussed more 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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