Rule 15Ga-2 and Form ABS-15G

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form SEC 2860 Form ABS-15G annual reporting burden	Form and Instruction	Modified	Available
FORM ABS-15G PRA Supporting Statement FINAL.docx	Supporting Statement A	Uploaded 2015-04-11	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
216025	15Ga-2 and Form ABS-15G Annual Reporting		New
216024	Rule 15Ga-2 and Form ABS-15G one-time reporting		New
194875	Form ABS-15G annual reporting burden	Form and Instruction	Modified

ICR Details

OMB Control No: 3235-0675	ICR Reference No: 201504-3235-002
Status: Historical Active	Previous ICR Reference No: 201412-3235-008
Agency/Subagency: SEC	Agency Tracking No: OCR-270-620
Title: Rule 15Ga-2 and 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: Approved without change	Conclusion Date: 05/14/2015
	Date Received in OIRA: 04/11/2015
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2018	36 Months From Approved	06/30/2017
Responses	1,482	0	810
Time Burden (Hours)	28,453	0	189,068
Cost Burden (Dollars)	2,205,095	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	Final or interim final rulemaking	79 FR 55078	09/15/2014

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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: 3

table that charts list of burden

IC Title	Form No.	Form Name
Rule 15Ga-2 and Form ABS-15G one-time reporting
Form ABS-15G annual reporting burden	SEC 2860	Form ABS-15G
15Ga-2 and Form ABS-15G Annual Reporting

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ICR Summary of Burden

table that charts list of burden

	Total Approved	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	1,482	810	2,739	2,067	-4,134	0
Annual Time Burden (Hours)	28,453	189,068	40,981	-148,845	-52,751	0
Annual Cost Burden (Dollars)	2,205,095	25,209,047	-58	-19,845,904	-3,157,990	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The changes in burden are: (i) a reduction in burden of 172,530 hours due to the one-time internal burden for securitizers to set up the mechanisms to make the initial disclosures required by Rule 15Ga-1, as this cost is no longer applicable; (ii) a one-time reporting burden increase of 33,600 hours due to the adoption of new Rule 15Ga-2 and the amendments to ABS Form-15G; and (iii) an increase in ongoing annual reporting burden of 715 annual hours due to the adoption of new Rule 15Ga-2 and the amendments to Form ABS-15G.

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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: 04/11/2015

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