Form ABS-15G

Forms and Documents

Document	Type	Status	Availability
Form SEC 2860 Form ABS-15G	Form and Instruction	Modified	Available
PRA Supporting Statement Section 932.pdf	Supporting Statement A	Uploaded 2014-12-12	Repair queued

IC Document Collections

IC ID	Collection	Type	Status	Form
194875	Form ABS-15G	Form and Instruction	Modified

ICR Details

OMB Control No: 3235-0675	ICR Reference No: 201412-3235-008
Status: Historical Inactive	Previous ICR Reference No: 201403-3235-006
Agency/Subagency: SEC	Agency Tracking No: OCR-270-620
Title: Form ABS-15G
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 12/22/2014
	Date Received in OIRA: 12/12/2014
Terms of Clearance: Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR. The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. The next submission to OMB must include the draft final rule.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2017	36 Months From Approved	06/30/2017
Responses	810	0	810
Time Burden (Hours)	189,068	0	189,068
Cost Burden (Dollars)	25,209,047	0	25,209,047

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Abstract: Form ABS-15G is used for reports of information required under Rule 15Ga-1 of the Exchange Act of 1934. Exchange Act Rule 15Ga-1 requires asset-backed securitizers to provide disclosure regarding fulfilled and unfulfilled repurchase requests with respect to asset-backed securities.

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Authorizing Statute(s): US Code: 15 USC 77z-3 Name of Law: Securities Act of 1933
   US Code: 15 USC 78c(b), 78l, 78m, 78o, 78o-7 Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78q, 78w(a), 78ll, 78mm Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 77e, 77f, 77g, 77j, 77s(a) Name of Law: Securities Act of 1933
   PL: Pub.L. 111 - 203 943 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 932 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL15	Proposed rulemaking	76 FR 33420	06/08/2011

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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: 1

IC Title	Form No.	Form Name
Form ABS-15G	SEC 2860	Form ABS-15G

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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: The proposed rule amendments in Release No. 34-64514 implement Section 15E(s)(4)(A) of the Exchange Act, which was added by Section 932 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The proposed rule amendments would require an issuer or underwriter of any ABS that is to be rated by a nationally recognized statistical rating organization ("NRSRO") to furnish a Form ABS-15G on the Commission's EDGAR system containing the findings and conclusions of any third-party "due diligence report" obtained by the issuer or underwriter. Under the proposal, the disclosure would be furnished using Form ABS-15G. We estimate that the rule amendments will result in approximately 29,067 new burden hours of in-house personnel time and no increase in costs for the services of outside professionals.

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Annual Cost to Federal Government: $100,000

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: 12/12/2014

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