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

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Final Rule Supporting Statement (Amends 3235-0695) May 2020.pdf	Supporting Statement A	Uploaded 2020-05-20	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
238130	IC52 - 17Ad-22(e)(23) (for respondent not registered)		Modified
238128	IC50 - 17Ad-22(e)(22) (for respondent not registered)		Modified
238127	IC48 - 17Ad-22(e)(21) (for respondent not registered)		Modified
238126	IC46 - 7Ad-22(e)(20) (for respondent not registered)		Modified
238125	IC44 - 17Ad-22(e)(19) (for respondent not registered)		Modified
238124	IC42 - 17Ad-22(e)(18) (for respondent not registered)		Modified
238123	IC40 - 17Ad-22(e)(17) (for respondent not registered)		Modified
238122	IC38 - 17Ad-22(e)(16) (for respondent not registered)		Modified
238121	IC36 - 17Ad-22(e)(15) (for respondent not registered)		Modified
238120	IC34 - 17Ad-22(e)(14) (for respondent not registered)		Unchanged
238119	IC32 - 17Ad-22(e)(13) (for respondent not registered)		Modified
238118	IC30 - 17Ad-22(e)(12) (for respondents not registered)		Modified
238117	IC27 - 17Ad-22(e)(10) (for respondent not registered)		Modified
238116	IC25 - 17Ad-22(e)(9) (for respondent not registered)		Modified
238115	IC23 - 17Ad-22(e)(8) (for respondent not registered)		Modified
238114	IC21 - 17Ad-22(e)(7) (for respondent not registered)		Modified
238113	IC19 - 17Ad-22(e)(6) (for respondent not registered)		Modified
238112	IC17 - 17Ad-22(e)(5) (for respondent not registered)		Modified
238111	IC15 - 17Ad-22(e)(4) (for respondent not registered)		Modified
238110	IC13 - 17Ad-22(e)(3) (for respondent not registered)		Modified
238109	IC11 - 17Ad-22(e)(2) (for respondent not registered)		Modified
238107	IC9 - 17Ad-22(e)(1) (for respondent not registered)		Modified
238106	IC6 - Rule 17Ad-22(c)(2) (for respondents not registered)		Unchanged
238102	IC7 - Rules 17Ad-22(d)(1)-(15)		Unchanged
223780	IC51 - 17Ad-22(e)(23) (for respondents already registered)		Unchanged
223779	IC49 - 17Ad-22(e)(22) (for respondents already registered)		Unchanged
223778	IC47 - 17Ad-22(e)(21) (for respondents already registered)		Unchanged
223777	IC45 - 17Ad-22(e)(20) (for respondents already registered)		Unchanged
223776	IC43 - 17Ad-22(e)(19) (for respondents already registered)		Unchanged
223775	IC41 - 17Ad-22(e)(18) (for respondents already registered)		Unchanged
223774	IC39 - 17Ad-22(e)(17) (for respondents already registered		Unchanged
223773	IC 37 - 17Ad-22(e)(16) (for respondents already registered)		Unchanged
223772	IC 35 - 17Ad-22(e)(15) (for respondents already registered)		Unchanged
223771	IC33 - 17Ad-22(e)(14) (for respondents already registered)		Unchanged
223770	IC31 - 17Ad-22(e)(13) (for respondents already registered)		Unchanged
223769	IC29 - 17Ad-22(e)(12) (for respondents already registered)		Unchanged
223768	IC28 - Rule 17Ad-22(e)(11)		Unchanged
223767	IC26 - 17Ad-22(e)(10) (for respondents already registered)		Unchanged
223766	IC24 - 17Ad-22(e)(9) (for respondents already registered)		Unchanged
223765	IC22 - 17Ad-22(e)(8) (for respondents already registered)		Unchanged
223764	IC20 - 17Ad-22(e)(7) (for respondents already registered)		Unchanged
223763	IC18 - 17Ad-22(e)(6) (for respondents already registered)		Unchanged
223762	IC16 - 17Ad-22(e)(5) (for respondents already registered)		Unchanged
223761	IC14 - 17Ad-22(e)(4) (for respondents already registered)		Unchanged
223760	IC12 - 17Ad-22(e)(3) (for respondents already registered)		Unchanged
223759	IC10 - 17Ad-22(e)(2) (for respondents already registered)		Unchanged
223758	Rule 17Ad-22(e)(1)		Unchanged
203049	IC5 - Rule 17Ad-22(c)(2) (for respondents already registered)		Unchanged
203048	IC4 - Rule 17Ad-22(c)(1) - Record of Financial Resources		Unchanged
203044	IC3 - Rules 17Ad-22(b)(5)-(7)		Unchanged
203043	IC2 - Rule 17Ad-22(b)(4) - Model Validation		Unchanged
203040	IC1 - Rules 17Ad-22(b)(1)-(3)		Unchanged

ICR Details

OMB Control No: 3235-0695	ICR Reference No: 202004-3235-009
Status: Active	Previous ICR Reference No: 201910-3235-005
Agency/Subagency: SEC	Agency Tracking No: TM-270-646
Title: Rule 17ad-22 Clearing Agency Standards for Operation and Governance
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 06/23/2020
	Date Received in OIRA: 05/20/2020
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2023	03/31/2023	03/31/2023
Responses	247	0	226
Time Burden (Hours)	9,102	0	8,093
Cost Burden (Dollars)	14,041,280	0	13,397,120

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Abstract: Rule 17Ad-22 sets standards for the operation and governance of “covered clearing agencies” (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, Rule 17Ad-22 requires 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. This PRA submission is being filed in connection with an amendment to certain rules that modify the definition of "covered clearing agency" to include central counterparties and central securities depositories. This submission updates the number of respondents that will be subject to the covered clearing agency standards in paragraph (e) of Rule 17Ad-22 due to the amendment.

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Authorizing Statute(s): 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
  

Citations for New Statutory Requirements: US Code: 12 USC 5464(a)(2) Name of Law: Wall Street Reform and Consumer Protection Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL48	Final or interim final rulemaking	85 FR 28553	05/14/2020

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 52

table that charts list of burden

IC Title	Form No.	Form Name
IC44 - 17Ad-22(e)(19) (for respondent not registered)
IC46 - 7Ad-22(e)(20) (for respondent not registered)
IC50 - 17Ad-22(e)(22) (for respondent not registered)
IC52 - 17Ad-22(e)(23) (for respondent not registered)
IC3 - Rules 17Ad-22(b)(5)-(7)
IC41 - 17Ad-22(e)(18) (for respondents already registered)
Rule 17Ad-22(e)(1)
IC10 - 17Ad-22(e)(2) (for respondents already registered)
IC12 - 17Ad-22(e)(3) (for respondents already registered)
IC20 - 17Ad-22(e)(7) (for respondents already registered)
IC14 - 17Ad-22(e)(4) (for respondents already registered)
IC16 - 17Ad-22(e)(5) (for respondents already registered)
IC22 - 17Ad-22(e)(8) (for respondents already registered)
IC24 - 17Ad-22(e)(9) (for respondents already registered)
IC26 - 17Ad-22(e)(10) (for respondents already registered)
IC29 - 17Ad-22(e)(12) (for respondents already registered)
IC31 - 17Ad-22(e)(13) (for respondents already registered)
IC33 - 17Ad-22(e)(14) (for respondents already registered)
IC 35 - 17Ad-22(e)(15) (for respondents already registered)
IC18 - 17Ad-22(e)(6) (for respondents already registered)
IC 37 - 17Ad-22(e)(16) (for respondents already registered)
IC39 - 17Ad-22(e)(17) (for respondents already registered
IC43 - 17Ad-22(e)(19) (for respondents already registered)
IC47 - 17Ad-22(e)(21) (for respondents already registered)
IC49 - 17Ad-22(e)(22) (for respondents already registered)
IC51 - 17Ad-22(e)(23) (for respondents already registered)
IC2 - Rule 17Ad-22(b)(4) - Model Validation
IC4 - Rule 17Ad-22(c)(1) - Record of Financial Resources
IC1 - Rules 17Ad-22(b)(1)-(3)
IC5 - Rule 17Ad-22(c)(2) (for respondents already registered)
IC28 - Rule 17Ad-22(e)(11)
IC45 - 17Ad-22(e)(20) (for respondents already registered)
IC7 - Rules 17Ad-22(d)(1)-(15)
IC6 - Rule 17Ad-22(c)(2) (for respondents not registered)
IC11 - 17Ad-22(e)(2) (for respondent not registered)
IC13 - 17Ad-22(e)(3) (for respondent not registered)
IC19 - 17Ad-22(e)(6) (for respondent not registered)
IC25 - 17Ad-22(e)(9) (for respondent not registered)
IC36 - 17Ad-22(e)(15) (for respondent not registered)
IC9 - 17Ad-22(e)(1) (for respondent not registered)
IC17 - 17Ad-22(e)(5) (for respondent not registered)
IC15 - 17Ad-22(e)(4) (for respondent not registered)
IC21 - 17Ad-22(e)(7) (for respondent not registered)
IC30 - 17Ad-22(e)(12) (for respondents not registered)
IC32 - 17Ad-22(e)(13) (for respondent not registered)
IC34 - 17Ad-22(e)(14) (for respondent not registered)
IC40 - 17Ad-22(e)(17) (for respondent not registered)
IC23 - 17Ad-22(e)(8) (for respondent not registered)
IC27 - 17Ad-22(e)(10) (for respondent not registered)
IC38 - 17Ad-22(e)(16) (for respondent not registered)
IC42 - 17Ad-22(e)(18) (for respondent not registered)
IC48 - 17Ad-22(e)(21) (for respondent not registered)

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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	247	226	0	21	0	0
Annual Time Burden (Hours)	9,102	8,093	0	1,009	0	0
Annual Cost Burden (Dollars)	14,041,280	13,397,120	0	644,160	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The Commission adopted amendments to existing Rule 17Ad-22(e) that increase the number of respondent, and therefore the overall burdens and costs for paragraph (e). The information collections in the other paragraphs of Rule 17Ad-22 are not changed.

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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? No

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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: 05/20/2020

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