Rule 17ad-22 Clearing Agency Standards for Operation and Governance

ICR 201809-3235-017

OMB: 3235-0695

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2018-10-25
IC Document Collections
IC ID
Document
Title
Status
233454
New
233453
New
233452
New
233451
New
233450
New
233449
New
233448
New
233447
New
233446
New
233445
New
233444
New
233443
New
233442
New
233440
New
233439
New
233438
New
233437
New
233436
New
233435
New
233434
New
233433
New
233428
New
223780
Modified
223779
Modified
223778
Modified
223777
Modified
223776
Modified
223775
Modified
223774
Modified
223773
Modified
223772
Modified
223771
Modified
223770
Modified
223769
Modified
223768
Modified
223767
Modified
223766
Modified
223765
Modified
223764
Modified
223763
Modified
223762
Modified
223761
Modified
223760
Modified
223759
Modified
223758
Modified
204630
Modified
203049
Modified
203048
Modified
203044
Modified
203043
Modified
203040
Modified
ICR Details
3235-0695 201809-3235-017
Historical Inactive 201609-3235-023
SEC TM-270-646
Rule 17ad-22 Clearing Agency Standards for Operation and Governance
Revision of a currently approved collection   No
Regular
Comment filed on proposed rule and continue 02/06/2019
Retrieve Notice of Action (NOA) 10/25/2018
OMB files this comment in accordance with 5 CFR 1320.11( c ). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. 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
01/31/2020 36 Months From Approved 03/31/2020
209 0 209
13,398 0 13,398
11,894,080 0 11,894,080

The Securities and Exchange Commission (“Commission”) is proposing to amend the definitions of “covered clearing agency” in Rule 17Ad-22(a)(5), “central securities depository services” in Rule 17Ad-22(a)(3), and “sensitivity analysis” in Rule 17Ad-22(a)(16) pursuant to Section 17A of the Securities Exchange Act of 1934 (“Exchange Act”) and the Payment, Clearing, and Settlement Supervision Act of 2010 (“Clearing Supervision Act”), enacted in Title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act”). Specifically, the Commission is proposing to amend Rule 17Ad-22(a)(5) to define “covered clearing agency” to mean a registered clearing agency that provides the services of a central counterparty (“CCP”) or central securities depository (“CSD”). The Commission also is proposing to amend Rule 17Ad-22(a)(3) to define “central securities depository" to mean a clearing agency that is a securities depository as described in Section 3(a)(23)(A) of the Exchange Act. In addition, the Commission is proposing to amend the definition of “sensitivity analysis” in Rule 17Ad-22(a)(16) so that the policies and procedures of all covered clearing agencies that are CCPs provide for a sensitivity analysis that considers the most volatile relevant periods, where practical, that have been experienced by the markets served by the covered clearing agency. The proposed amendments would add one new respondent to the ICRs in most of the paragraphs of Rule 17Ad-22(e), but does not otherwise change the substantive requirements in the rule. This submission revises the previously-approved estimates by adding new estimates for the one additional respondent. These estimates were added separately for each affected paragraph because the previously-approved estimates included one-time initial burdens that have been partially incurred. Accordingly, we needed to add the new respondent as a separate entry so the initial one-time burden for that respondent would be accounted for accurate. We also revised the amount of the one-time burden for the previously-approved estimates, given that a portion of that burden has already been incurred (i.e., approximately two-thirds of the one-time burden will have been incurred when the Commission adopts the final rules). In addition, this submission makes corrections to previously approved burdens in paragraphs (a) through (d) of the rule to remove one-time burdens that have already been fully incurred and to correct the number of responses per year pursuant to paragraph (d).

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: 15 USC 78c-3 Name of Law: Securities Exchange Act of 1934
  
US Code: 12 USC 5464(a)(2) Name of Law: Wall Street Reform and Consumer Protection Act

3235-AL48 Proposed rulemaking 81 FR 70744 10/13/2016

No

Yes
Changing Regulations
Yes
Changing Regulations
The burden estimates for Rules 17Ad-22(b), (c), and (d) have been revised (1) to make a correction to remove the initial ongoing burden, which has already been incurred; and (2) to make a correction to adjust the number of ICRs in paragraph (c) from once to four times per year. With respect to Rule 17Ad-22(e), the amendments in the proposed rulemaking would increase the number of respondents by 1 for most of the ICRs in the rule. As a result of the additional respondent, the total burden will increase, although the Commission is not changing its previously-approved estimates with respect to each entity. The additional burdens for the new respondent was added as separate entries in the ICR because the burdens approved for the other respondents include one-time burdens that have been only partially incurred. We found that we could not combine the one-time burdens for the new respondent with the partially-incurred one-time burdens for the existing respondents, so we made separate entries. We also revised the one-time burdens for the existing respondents (for an overall decrease) since those have already been partially incurred and we are requesting a new three-year expiration period.

$0
No
    No
    No
No
Yes
No
Uncollected
Catherine Moore 202 551-5718 [email protected]

  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.
10/25/2018


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