Reporting of Securities Loans

Forms and Documents

Document Name	Status
88 FR 75644.pdf Supporting Statement B	2023-11-05
Adopting Release Supporting Statement (3235-0788).pdf Supporting Statement A	2023-11-05

IC Document Collections

IC ID	Document Title	Status
263213	RNSA: Implement and maintain infrastructure for information collection and reporting-Ongoing Burden	New
263210	Reporting Agents: Systems Development and Monitoring-Ongoing Burden	New
263208	Non-providing Covered Person: Systems Development and Monitoring-Ongoing Burden	New
263206	Providing Covered Person: Systems Development and Monitoring-Ongoing Burden	New
252286	RNSA Retention of Collected Information	Modified
252285	RNSA: Implement and maintain infrastructure for information collection and reporting-Initial Burden	Modified
252284	Lenders Directly Employing a Reporting Agent: Entering into a Written Agreement with a Reporting Agent	Removed
252283	Lenders Directly Employing a Reporting Agent: Systems Development and Monitoring	Removed
252282	Lenders not Employing a Lending Agent – Self-Providing Lenders: Systems Development and Monitoring	Removed
252281	Reporting Agents: Record Preservation Requirement	Modified
252280	Reporting Agents: Entering into Written Agreement with RNSA	Modified
252278	Reporting Agents: Entering into Agreements with Non-Providing Covered Persons	Modified
252277	Reporting Agents: Systems Development and Monitoring-Initial Burden	Modified
252276	Non-providing Covered Person: Entering into Written Agreement with Reporting Agent	Modified
252275	Non-providing Covered Person: Systems Development and Monitoring-Initial Burden	Modified
252274	Providing Covered Person: Systems Development and Monitoring-Initial Burden	Modified

ICR Details

OMB Control No: 3235-0788	ICR Reference No: 202311-3235-002
Status: Received in OIRA	Previous ICR Reference No: 202203-3235-012
Agency/Subagency: SEC	Agency Tracking No:
Title: Reporting of Securities Loans
Type of Information Collection: Existing collection in use without an OMB Control Number	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 11/06/2023

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	7,244	0
Time Burden (Hours)	1,160,270	0
Cost Burden (Dollars)	0	0

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Abstract: The Securities and Exchange Commission (“SEC” or “Commission”) is adopting a new rule under the Securities Exchange Act of 1934 (“Exchange Act”) to increase the transparency and efficiency of the securities lending market by requiring certain persons to report information about securities loans to a registered national securities association (“RNSA”). The new rule also requires certain confidential information to be reported to an RNSA to enhance an RNSA’s oversight and enforcement functions. Further, the new rule requires that an RNSA make certain information it receives, along with daily information pertaining to the aggregate transaction activity and distribution of loan rates for each reportable security, available to the public.

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Authorizing Statute(s): US Code: 15 USC 78w(a) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78j(c) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78j(b) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78c Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o-3 Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78q-a Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o(c) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o(g) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78k-1 Name of Law: Securities Exchange Act of 1934
   PL: Pub.L. 111 - 203 984 Name of Law: Dodd Frank Wall Street Reform and Consumer Protection Act
   Statute at Large: 124 Stat. 1376 Name of Statute: Dodd Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AN01	Final or interim final rulemaking	88 FR 75644	11/03/2023

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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: 13

IC Title	Form No.	Form Name
Lenders Directly Employing a Reporting Agent: Entering into a Written Agreement with a Reporting Agent
Lenders Directly Employing a Reporting Agent: Systems Development and Monitoring
Lenders not Employing a Lending Agent – Self-Providing Lenders: Systems Development and Monitoring
Non-providing Covered Person: Entering into Written Agreement with Reporting Agent
Non-providing Covered Person: Systems Development and Monitoring-Initial Burden
Non-providing Covered Person: Systems Development and Monitoring-Ongoing Burden
Providing Covered Person: Systems Development and Monitoring-Initial Burden
Providing Covered Person: Systems Development and Monitoring-Ongoing Burden
RNSA Retention of Collected Information
RNSA: Implement and maintain infrastructure for information collection and reporting-Initial Burden
RNSA: Implement and maintain infrastructure for information collection and reporting-Ongoing Burden
Reporting Agents: Entering into Agreements with Non-Providing Covered Persons
Reporting Agents: Entering into Written Agreement with RNSA
Reporting Agents: Record Preservation Requirement
Reporting Agents: Systems Development and Monitoring-Initial Burden
Reporting Agents: Systems Development and Monitoring-Ongoing Burden

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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	7,244	0	0	7,244	0	0
Annual Time Burden (Hours)	1,160,270	0	0	1,160,270	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: The Commission recently adopted a new rule that includes certain collections of information. These are discussed in more detail in the attached 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: 11/06/2023

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