Business Conduct Standards
for Security-Based Swap Dealers and Major Security-Based Swap
Participants
Extension without change of a currently approved collection
No
Regular
08/07/2025
Requested
Previously Approved
36 Months From Approved
09/30/2025
486
233,126
535,595
486,535
2,522,058
1,812,800
As required by Title VII of the
Dodd-Frank Act, Section 15F(h) of the Exchange Act established
business conduct standards for security-based swap ("SBS") dealers
and major security-based swap participants in their dealings with
counterparties, including special entities. Exchange Act Rules
15Fh-1 through 15Fh-6 and 15Fk-1 implemented the business conduct
standards requirements for SBS dealers that we believe further the
principles that underlie the Dodd-Frank Act, and established
regulations for the chief compliance officer functions within an
SBS dealer or major SBS participant.
The estimated annual hour
burden has increased from 486,535 hours to 535,595 hours and the
estimated annual cost burden has increased from $1,812,800 to
$2,522,058, an increase of approximately 49,060 hours and $709,258
respectively. The primary reason for the increase in burdens is the
increase in the estimated number of respondents (e.g., the
estimated number of SBS Entities increased from 44 to 53). An
increase in the number of transactions (e.g., the number of trades
requiring disclosures) have also contributed to the increase in
burdens. As discussed above, all one-time initial burdens have
already been incurred and all current burden estimates reflect only
ongoing hour and cost burdens.
No
No
No
No
Yes
No
No
Patrick Bloomstine 202
551-4453
No
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:
(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;
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.
20250806_3235-0732_2025-14852_90 FR 37907_30-Day Submission Notice.pdf.pdf
15Fh-3(e), (f) - Know Your Counterparty and Recommendations (Market Participants)