Order Granting Conditional Exemptions Under the Securities Exchange Act of 1934 in Connection With Portfolio Margining of Swaps and Security-Based Swaps

Forms and Documents

Document Name	Status
FINAL 2019 Supporting Statement for Exemptive Order Granting Conditional Exemption.pdf Supporting Statement A	2019-06-06

IC Document Collections

IC ID	Document Title	Status
205365	Order Granting Conditional Exemptions Under the SecuritiesExchange Act of 1934 in Connection With Portfolio Margining of Swaps andSecurity-Based Swaps Other-null	Modified

ICR Details

OMB Control No: 3235-0698	ICR Reference No: 201903-3235-002
Status: Active	Previous ICR Reference No: 201601-3235-001
Agency/Subagency: SEC	Agency Tracking No: TM-270-648
Title: Order Granting Conditional Exemptions Under the Securities Exchange Act of 1934 in Connection With Portfolio Margining of Swaps and Security-Based Swaps
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/19/2019
	Date Received in OIRA: 06/06/2019
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2022	36 Months From Approved	08/31/2019
Responses	35	0	45
Time Burden (Hours)	22,517	0	51,450
Cost Burden (Dollars)	93,333	0	120,000

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Abstract: Order granting conditional exemptive relief from compliance with certain provisions of the Securities Exchange Act of 9134 in connection with a program to commingle and portfolio margin customer positions in cleared credit default swaps, which include both swaps and security based swaps, in a segregated account established and maintained in accordance with Section 4d(f) of the Commodity Exchange Act.

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Authorizing Statute(s): US Code: 15 USC 78mm Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78c-5 Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 1056	03/21/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 24194	05/24/2019
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Order Granting Conditional Exemptions Under the SecuritiesExchange Act of 1934 in Connection With Portfolio Margining of Swaps andSecurity-Based Swaps

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ICR Summary 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	35	45	0	0	-10	0
Annual Time Burden (Hours)	22,517	51,450	0	0	-28,933	0
Annual Cost Burden (Dollars)	93,333	120,000	0	0	-26,667	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: The decrease in hour burden from 51,450 hours per year to 22,517 hours per year is due to a decrease in the number of respondents from 45 to 35 and a decrease in the average number of non-affiliate credit default customers per respondent from 109 to 34. The decrease in dollar cost from $120,000 per year to approximately $93,333 per year is due to a decrease in the number of respondents from 45 to 35.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 06/06/2019

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