The Commission is adopting several new
rules that would set standards for the operation and governance of
“covered clearing agencies” (which consist of designated clearing
agencies, clearing agencies involved in activities with a more
complex risk profile for which the Commodity Futures Trading
Commission is not the Supervisory Agency, and any clearing agency
determined to be a covered clearing agency by the Commission.
Specifically, the Commission is adopting amendments to Rule 17Ad-22
in the form of paragraphs (e)(1) through (e)(23) to require covered
clearing agencies to establish, implement, maintain and enforce
written policies and procedures designed to promote effective risk
management procedures and controls as well as meet the statutory
requirements under the Exchange Act on an ongoing basis.
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
US Code: 12 USC 5464(a)(2) Name of Law: Wall
Street Reform and Consumer Protection Act
With the adoption of new Rule
17Ad-22(e), the PRA burdens associated with portions of Rule
17Ad-22 (d) have been reduced to reflect a decrease in the number
of respondents that will be subject to the provisions of those
rules. The Commission believes that seven respondent clearing
agencies will be subject to the PRA burdens associated with Rule
17Ad-22(e). Prior to the adoption of Rule 17Ad-22(e), these seven
respondent clearing agencies were subject to the PRA burdens
associated with Rule 17Ad-22(d). As a result, the Commission
believes that only four respondent clearing agencies will remain
subject to the PRA burdens of certain portions of Rule 17Ad-22 (d)
and estimates aggregate burdens have been adjusted
accordingly.
$0
No
No
No
Yes
No
Uncollected
Elizabeth Fitzgerald 202
551-6036
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.
PRA Supporting Statment - 17Ad-22 - Adopting release (Final 10.31.2016) (2).pdf
Rule 17Ad-22(e)(23)