Clearing Agency Standards for Operation and Governance

Forms and Documents

Document Name	Status
PRA Supporting Statement Clearing Agency Standards 7-6-12.docx Supporting Statement A	2012-07-06

IC Document Collections

IC ID	Document Title	Status
203070	Rule 3Cj-1(b) - Designation of Chief Compliance Officer	New
203069	Rule 17Ad-26 - Standards for Board or Board Committee Directors	New
203068	Rule 17Ad-25 - Clearing Agency Procedures to Identify and Address Conflicts of Interest	New
203067	Rule 17Ad-23 - Clearing Agency Policies and Procedures to Protect the Confidentiality of Trading Information of Clearing Agency Participants	New
203066	Rule 17Aj-1 - Dissemination of Pricing and Valuation Information by Security-Based Swap Clearing Agencies that Perform Central Counterparty Services	New
203065	Rule 17Ad-22(d)(15) - Identification and Management of Physical Delivery Risks	New
203064	Rule 17Ad-22(d)(14) - Risk Controls to Address Participant's Failure to Settle	New
203063	Rule 17Ad-22(d)(13) - Delivery Versus Payment	New
203062	Rule 17Ad-22(d)(12) - Timing of Settlement Finality	New
203061	Rule 17Ad-22(d)(11) - Default Procedures	New
203060	Rule 17Ad-22(d)(10) - Immobilization and Dematerialization of Stock Certificates	New
203059	Rule 17Ad-22(d)(9) - Information on Services	New
203058	Rule 17Ad-22(d)(8) - Governance	New
203057	Rule 17Ad-22(d)(7) - Links	New
203056	Rule 17Ad-22(d)(6) - Cost-Effectiveness	New
203055	Rule 17Ad-22(d)(5) - Money Settlement Risks	New
203054	Rule 17Ad-22(d)(4) - Identification and Mitigation of Operational Risk	New
203052	Rule 17Ad-22(d)(3) - Custody of Assets and Investment Risk	New
203051	Rule 17Ad-22(d)(2) - Participation Requirements	New
203050	Rule 17Ad-22(d)(1) - Transparent and Enforceable Rules and Procedures	New
203049	Rule 17Ad-22(c)(2) - Annual Audited Financial Report	New
203048	Rule 17Ad-22(c)(1) - Record of Financial Resources	New
203046	Rule 17Ad-22(b)(7) - Net Capital Restrictions	New
203045	Rule 17Ad-22(b)(6) - Portfolio Size and Transaction Volume Restrictions	New
203044	Rule 17Ad-22(b)(5) - Non-Dealer Access	New
203043	Rule 17Ad-22(b)(4) - Model Validation	New
203042	Rule 17Ad-22(b)(3) - Financial Resources	New
203041	Rule 17Ad-22(b)(2) - Margin Requirements	New
203040	Rule 17Ad-22(b)(1) - Measurement and Management of Credit Exposures	New

ICR Details

OMB Control No: 3235-0695	ICR Reference No: 201207-3235-001
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: SEC	Agency Tracking No: TM-270-646
Title: Clearing Agency Standards for Operation and Governance
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule	Conclusion Date: 08/21/2012
	Date Received in OIRA: 07/06/2012
Terms of Clearance: OMB files this comment in accordance with 5 CFR 1320.11( c ). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). In accordance with 5 CFR 1320, OMB is withholding approval at this time. The agency shall examine public comment in response to the NPRM and will describe in the preamble of the final rule how the agency has maximized the practical utility of the collection and minimized the burden. The next submission to OMB must include the draft final rule.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date		36 Months From Approved
Responses	0	0	0
Time Burden (Hours)	0	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: In accordance with Section 763 of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, Section 805 of Title VIII of the Dodd-Frank Act, and Section 17A of the Securities Exchange Act of 1934, the Securities and Exchange Commission is proposing rules regarding registration of clearing agencies and standards for the operation and governance of clearing agencies.

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Authorizing Statute(s): US Code: 15 USC 78c-3 Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78q-1 Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 5464(a)(2) Name of Law: Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: US Code: 12 USC 5464(a)(2) Name of Law: Wall Street Reform and Consumer Protection Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL13	Proposed rulemaking	76 FR 14472	03/16/2011

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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: 29

IC Title	Form No.	Form Name
Rule 17Ad-22(b)(2) - Margin Requirements
Rule 17Ad-22(b)(4) - Model Validation
Rule 17Ad-22(b)(1) - Measurement and Management of Credit Exposures
Rule 17Ad-22(b)(5) - Non-Dealer Access
Rule 17Ad-22(b)(6) - Portfolio Size and Transaction Volume Restrictions
Rule 17Ad-22(b)(7) - Net Capital Restrictions
Rule 17Ad-22(c)(2) - Annual Audited Financial Report
Rule 17Ad-22(d)(1) - Transparent and Enforceable Rules and Procedures
Rule 17Ad-22(d)(2) - Participation Requirements
Rule 17Ad-22(d)(3) - Custody of Assets and Investment Risk
Rule 17Ad-22(d)(4) - Identification and Mitigation of Operational Risk
Rule 17Ad-22(d)(5) - Money Settlement Risks
Rule 17Ad-22(d)(6) - Cost-Effectiveness
Rule 17Ad-22(d)(7) - Links
Rule 17Ad-22(d)(8) - Governance
Rule 17Ad-22(d)(10) - Immobilization and Dematerialization of Stock Certificates
Rule 17Ad-22(d)(11) - Default Procedures
Rule 17Ad-22(d)(12) - Timing of Settlement Finality
Rule 17Ad-22(d)(13) - Delivery Versus Payment
Rule 17Aj-1 - Dissemination of Pricing and Valuation Information by Security-Based Swap Clearing Agencies that Perform Central Counterparty Services
Rule 17Ad-23 - Clearing Agency Policies and Procedures to Protect the Confidentiality of Trading Information of Clearing Agency Participants
Rule 17Ad-25 - Clearing Agency Procedures to Identify and Address Conflicts of Interest
Rule 17Ad-26 - Standards for Board or Board Committee Directors
Rule 3Cj-1(b) - Designation of Chief Compliance Officer
Rule 17Ad-22(c)(1) - Record of Financial Resources
Rule 17Ad-22(d)(9) - Information on Services
Rule 17Ad-22(b)(3) - Financial Resources
Rule 17Ad-22(d)(14) - Risk Controls to Address Participant's Failure to Settle
Rule 17Ad-22(d)(15) - Identification and Management of Physical Delivery Risks

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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: In accordance with Section 763 of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, Section 805 of Title VIII of the Dodd-Frank Act, and Section 17A of the Securities Exchange Act of 1934, the Securities and Exchange Commission is proposing rules regarding registration of clearing agencies and standards for the operation and governance of clearing agencies.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? 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? Uncollected

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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: 07/06/2012

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