The Commission is adopting several new rules that would set standards for the operation and governance of âcovered clearing agenciesâ (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)