Rule 3a71-3 Cross Border Security-Based Swap Dealing Activity

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Rule 3a71-3 Supporting Statement 2019 (11-18-19 edits per OMB request).pdf	Supporting Statement A	Uploaded 2019-12-06	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
236516	Representations Regarding U.S.-Person Status - Ongoing		New
236515	Representation Regarding a Transaction Conducted Through a Foreign Branch - Ongoing		New
221761	Representations Regarding U.S.-Person Status - Initial		Modified
210267	Representation Regarding a Transaction Conducted Through a Foreign Branch - Initial		Modified

ICR Details

OMB Control No: 3235-0717	ICR Reference No: 201906-3235-010
Status: Active	Previous ICR Reference No: 201606-3235-001
Agency/Subagency: SEC	Agency Tracking No: TM-270-655
Title: Rule 3a71-3 Cross Border Security-Based Swap Dealing Activity
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 with change	Conclusion Date: 01/06/2020
	Date Received in OIRA: 08/21/2019
Terms of Clearance: Supporting statement updated to clarify that this ICR is not associated with a rulemaking.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2023	36 Months From Approved	01/31/2020
Responses	4,900	0	2,450
Time Burden (Hours)	28,584	0	28,584
Cost Burden (Dollars)	1,633,333	0	1,633,333

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Abstract: Rule 3a71-3 under the Securities Exchange Act of 1934 is designed to give effect to provisions of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act that, among other things, would mitigate the operational difficulties that could arise in connection with investigating the activities of a counterparty to ensure compliance with the rules.

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Authorizing Statute(s): US Code: 15 USC 78a et seq. Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 712, 761(b) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

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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 27385	06/12/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 43256	08/20/2019
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

table that charts list of burden

IC Title	Form No.	Form Name
Representations Regarding U.S.-Person Status - Initial
Representation Regarding a Transaction Conducted Through a Foreign Branch - Initial
Representation Regarding a Transaction Conducted Through a Foreign Branch - Ongoing
Representations Regarding U.S.-Person Status - Ongoing

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ICR Summary of Burden

table that charts list 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	4,900	2,450	0	0	2,450	0
Annual Time Burden (Hours)	28,584	28,584	0	0	0	0
Annual Cost Burden (Dollars)	1,633,333	1,633,333	0	0	0	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: Rule 3a71-3 is adopted and in effect. However, the compliance date for Rule 3a71-3 is dependent upon the adoption of another rule that has been proposed, but not yet adopted. As a consequence, no entity is currently required to comply with Rule 3a71-3, and the previously approved burdens and costs were not incurred. There is no change in burden because the staff has not changed its estimates of the burdens and costs the respondents will incur when the compliance date is in effect. The number of responses and number of ICs have doubled because for this renewal we split out the initial burdens and costs from the ongoing burdens and costs. They were combined in the original PRA.

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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: 08/21/2019

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