Rule 3a68-2 (Interpretation of Swaps, Security-Based Swaps, and Mixed Swaps) and Rule 3a68-4(c) (Process for Determining Regulatory Treatment for Mixed Swaps)

Forms and Documents

Document Name	Status
89 FR 93373 (OMB 3235–0685).pdf Supplementary Document	2024-11-27
89 FR 73136 (OMB 3235-0685).pdf Supplementary Document	2024-11-27
Explanation of why we include the CFTC numbers in our PRA.pdf Supplementary Document	2024-08-23
2024 3a68-2 and 3a68-4(c) Supporting statement.pdf Supporting Statement A	2024-08-23

IC Document Collections

IC ID	Document Title	Status
217880	Rule 3a68-4(c) - no Rule 3a68-2 request made	Modified
197714	Rule 3a68-4(c) - Follow-on requests	Modified
197713	Interpretation of Swaps, Security-Based Swaps, and Mixed Swaps (Rule 3a68-2)	Modified

ICR Details

OMB Control No: 3235-0685	ICR Reference No: 202408-3235-027
Status: Received in OIRA	Previous ICR Reference No: 202112-3235-018
Agency/Subagency: SEC	Agency Tracking No: TM-270-641
Title: Rule 3a68-2 (Interpretation of Swaps, Security-Based Swaps, and Mixed Swaps) and Rule 3a68-4(c) (Process for Determining Regulatory Treatment for Mixed Swaps)
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: 11/27/2024

	Requested	Previously Approved
Expiration Date	36 Months From Approved	02/28/2025
Responses	35	35
Time Burden (Hours)	710	710
Cost Burden (Dollars)	651,160	446,000

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Abstract: Rule 3a68-2 creates a process for interested persons to request a joint interpretation by the Securities and Exchange Commission and Commodity Futures Trading Commission regarding whether a particular instrument (or class of instruments) is a swap, a security-based swap, or both (i.e., a mixed swap). Rule 3a68-4(c) establishes a process for persons to request that the Securities and Exchange Commission and Commodity Futures Trading Commission issue a joint order permitting such persons (and any other person or persons that subsequently lists, trades, or clears that class of mixed swap) to comply, as to parallel provisions only, with specified parallel provisions of either the Commodity Exchange Act (CEA) or the Securities Exchange Act of 1934 (Exchange Act), and related rules and regulations, instead of being required to comply with parallel provisions of both the CEA and the Exchange Act. For purposes of Rule 3a68-4(c) under the Exchange Act, "parallel provisions" means comparable provisions of the CEA and the Exchange Act that were added or amended by Title VII of the Dodd-Frank Act with respect to security-based swaps and swaps, and the rules and regulations thereunder.

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Authorizing Statute(s): US Code: 15 USC 78c, 78d, 78e, 78f, 78g, 78i.. Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 80a-20, 80a-23, 80a-29, 80a-37 Name of Law: Investment Company Act of 1940
   US Code: 15 USC 7201 Name of Law: Sarbanes-Oxley Act of 2002
   US Code: 18 USC 1350 Name of Law: Sarbarnes-Oxley Act of 2002
   US Code: 12 USC 5221(e)(3) Name of Law: Emergency Economic Stabilization Act of 2008
   US Code: 15 USC 77c, 77d, 77g, 77j, 77s, 77z-2 Name of Law: Securities Act of 1933
   US Code: 15 USC 80b-3, 80b-4, 80b-11 Name of Law: Investment Advisers Act of 1940
  

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:
	89 FR 73136	09/09/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 93373	11/26/2024
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Interpretation of Swaps, Security-Based Swaps, and Mixed Swaps (Rule 3a68-2)
Rule 3a68-4(c) - no Rule 3a68-2 request made
Rule 3a68-4(c) - Follow-on requests

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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	35	35	0	0	0	0
Annual Time Burden (Hours)	710	710	0	0	0	0
Annual Cost Burden (Dollars)	651,160	446,000	0	0	205,160	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]? 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: 11/27/2024

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