Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
BCS PRA Supporting Statement- Final 6-16-16.doc	Supporting Statement A	Uploaded 2016-06-16	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
221698	15Fh-3(e), (f) - Know Your Counterparty and Recommendations (New Market Participants)		New
221697	15Fh-3(e), (f) - Know Your Counterparty and Recommendations (Existing Market Participants)		New
221696	15Fh-3(e), (f) - Know Your Counterparty and Recommendations (Counterparties)		New
221695	15Fh-3(b), (c), (d) - Disclosures - SBS Entities Transactions Between SBS Dealer and Non-SBSD Counterparty		New
221694	15Fh-3(a) - Verification of Status - Certificate Regarding Representations (Counterparties)		New
221693	15Fh-3(a) - Verification of Status - Notice (SBS Entities)		New
221692	15Fh-3(a) - Verification of Status - Adherence Letter (SBS Participants)		New
218480	15Fk-1 - Chief Compliance Officer		Modified
218479	15Fh-6 - Political Contributions		Modified
218478	15Fh-5 - SBS Entities Acting as Counterparties to Special Entities		Removed
218476	15Fh-5 - SBS Entities Acting as Counterparties to Special Entities		Modified
218475	15Fh-5 - SBS Entities Acting as Counterparties to Special Entities		Modified
218474	15Fh-2(a) and 15Fh-4 - SBS Dealers Acting as Advisors to Special Entities (Unique Pairs)		Modified
218473	15Fh-2(a) and 15Fh-4 - SBS Dealers Acting as Advisors to Special Entities		Modified
218472	15Fh-3(h) - Supervision		Unchanged
218470	15Fh-3(g) - Fair and Balanced Communications		Modified
218469	15Fh-3(e), (f) - Know Your Counterparty and Recommendations (SBS Dealers)		Modified
218468	15Fh-3(b), (c), (d) - Disclosures - SBS Entities		Modified
218467	15Fh-3(a) - Verification of Status		Modified

ICR Details

OMB Control No: 3235-0732	ICR Reference No: 201605-3235-009
Status: Historical Active	Previous ICR Reference No: 201510-3235-002
Agency/Subagency: SEC	Agency Tracking No: TM-270-779
Title: Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants
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: Approved without change	Conclusion Date: 08/17/2016
Retrieve Notice of Action (NOA)	Date Received in OIRA: 06/16/2016
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2019	36 Months From Approved
Responses	456,255	0	0
Time Burden (Hours)	1,260,260	0	0
Cost Burden (Dollars)	10,973,333	0	0

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Abstract: As required by Title VII of the Dodd-Frank Act, the new section 15F(h) of the Exchange Act will establish business conduct standards for security-based swap ("SBS") dealers and major security-based swap participants in their dealings with counterparties, including special entities. The proposed rules also establish regulations for the chief compliance officer functions within an SBS dealer or major SBS participant. The Commission has also included certain other business conduct requirements for SBS dealers that we believe further the principles that underlie the Dodd-Frank Act.

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Authorizing Statute(s): US Code: 15 USC 78a et seq. Name of Law: Securities Exchange Act of 1934
   PL: Pub.L. 111 - 203 764(a) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 764(a) 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-AL10	Final or interim final rulemaking	81 FR 29959	05/13/2016

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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: 18

table that charts list of burden

IC Title	Form No.	Form Name
15Fh-2(a) and 15Fh-4 - SBS Dealers Acting as Advisors to Special Entities
15Fh-2(a) and 15Fh-4 - SBS Dealers Acting as Advisors to Special Entities (Unique Pairs)
15Fh-3(a) - Verification of Status
15Fh-3(a) - Verification of Status - Adherence Letter (SBS Participants)
15Fh-3(a) - Verification of Status - Certificate Regarding Representations (Counterparties)
15Fh-3(a) - Verification of Status - Notice (SBS Entities)
15Fh-3(b), (c), (d) - Disclosures - SBS Entities
15Fh-3(b), (c), (d) - Disclosures - SBS Entities Transactions Between SBS Dealer and Non-SBSD Counterparty
15Fh-3(e), (f) - Know Your Counterparty and Recommendations (Counterparties)
15Fh-3(e), (f) - Know Your Counterparty and Recommendations (Existing Market Participants)
15Fh-3(e), (f) - Know Your Counterparty and Recommendations (New Market Participants)
15Fh-3(e), (f) - Know Your Counterparty and Recommendations (SBS Dealers)
15Fh-3(g) - Fair and Balanced Communications
15Fh-3(h) - Supervision
15Fh-5 - SBS Entities Acting as Counterparties to Special Entities
15Fh-5 - SBS Entities Acting as Counterparties to Special Entities
15Fh-5 - SBS Entities Acting as Counterparties to Special Entities
15Fh-6 - Political Contributions
15Fk-1 - Chief Compliance Officer

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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	456,255	0	456,255	0	0	0
Annual Time Burden (Hours)	1,260,260	0	1,260,260	0	0	0
Annual Cost Burden (Dollars)	10,973,333	0	10,973,333	0	0	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: This is a new collection of information.

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Annual Cost to Federal Government:

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: 05/25/2016

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