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 commenterâs 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 (âCommissionâ) is proposing to amend the definitions of âcovered clearing agencyâ in Rule 17Ad-22(a)(5), âcentral securities depository servicesâ in Rule 17Ad-22(a)(3), and âsensitivity analysisâ in Rule 17Ad-22(a)(16) pursuant to Section 17A of the Securities Exchange Act of 1934 (âExchange Actâ) and the Payment, Clearing, and Settlement Supervision Act of 2010 (âClearing Supervision Actâ), enacted in Title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (âDodd-Frank Actâ).
Specifically, the Commission is proposing to amend Rule 17Ad-22(a)(5) to define âcovered clearing agencyâ to mean a registered clearing agency that provides the services of a central counterparty (âCCPâ) or central securities depository (âCSDâ). The Commission also is proposing to amend Rule 17Ad-22(a)(3) to define âcentral 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 âsensitivity analysisâ 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
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.
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.
CCA Def - PRA Supporting Statement - 2018.10.19.pdf
Rule 17Ad-22(e)(23)