Interagency Statement on Sound Practices Concerning Complex Structured Finance Activities

Forms and Documents

Document Name	Status
3235-0622 60 day notice.pdf Supplementary Document	2021-11-09
30 Day 3235-0622 2021-24132.pdf Supplementary Document	2021-11-09
DGL REVISED 2021 Interagecy on Sound Practices CSFT Supporting Statement 2021.pdf Supporting Statement A	2021-08-06

IC Document Collections

IC ID	Document Title	Status
45812	Interagency Statement on Sound Practices Concerning Complex Structured Finance Activities Other-Policy Statement	Modified

ICR Details

OMB Control No: 3235-0622	ICR Reference No: 202108-3235-002
Status: Received in OIRA	Previous ICR Reference No: 201804-3235-014
Agency/Subagency: SEC	Agency Tracking No: TM-270-560
Title: Interagency Statement on Sound Practices Concerning Complex Structured Finance Activities
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 11/10/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	02/28/2022
Responses	5	5
Time Burden (Hours)	125	125
Cost Burden (Dollars)	0	0

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Abstract: The Interagency Statement is a policy statement providing guidance on internal controls and procedures for large firms that conduct a business in complex structured finance transactions. This Interagency Statement is unlikely to have any application to any small businesses. We expect it to provide guidance to only 5 large broker-dealer registrants in addition to the commercial banking entities overseen by the other financial services regulators. The other agencies that issued the Interagency Statement are the Office of the Comptroller of the Currency ("OCC"), the Board of Governors of the Federal Reserve System ("Fed"), Office of Thrift Supervion ("OTS") and Federal Deposit Insurance Corporation ("FDIC").

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Authorizing Statute(s): US Code: 15 USC 78a 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:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 46033	08/17/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 61336	11/05/2021
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Interagency Statement on Sound Practices Concerning Complex Structured Finance Activities

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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	5	5	0	0	0	0
Annual Time Burden (Hours)	125	125	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	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: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

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]? No

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: 11/10/2021

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