Rule 18a-8 – Notification Provisions for Security-Based Swap Dealers and Major Security-Based Swap Participants

Forms and Documents

Document	Type	Status	Availability
3235-0750 (Rule 18a-8) Supporting Statement - Adopting Release.pdf	Supporting Statement A	Uploaded 2021-04-15	Missing upstream

IC Document Collections

IC ID	Collection	Type	Status	Form
223469	Rule 18a-8 Notice		Modified

ICR Details

OMB Control No: 3235-0750	ICR Reference No: 202104-3235-004
Status: Received in OIRA	Previous ICR Reference No: 201609-3235-003
Agency/Subagency: SEC	Agency Tracking No: TM-270-770
Title: Rule 18a-8 – Notification Provisions for Security-Based Swap Dealers and Major Security-Based Swap Participants
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 05/05/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	5	0
Time Burden (Hours)	5	0
Cost Burden (Dollars)	0	0

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Abstract: Exchange Act Rule 18a-8, as adopted, specifies the circumstances under which stand-alone SBSDs, stand-alone MSBSPs, bank SBSDs, and bank MSBSPs must notify the Commission about its financial or operational condition, as well as the form that the notice must take. 18a-8 is modeled on Exchange Act Rule 17a-11, as proposed to be amended, which applies to broker-dealers, but Rule 18a-8 does not include a parallel requirement for every requirement in Rule 17a‑11 because some of the Rule 17a-11 notices relate to calculations that would not be relevant to stand-alone SBSDs, stand-alone MSBSPs, bank SBSDs, and bank MSBSPs.

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Authorizing Statute(s): US Code: 15 USC 78o-10 Name of Law: Securities Exchange Act of 1934
   PL: Pub.L. 111 - 203 764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL45	Final or interim final rulemaking	84 FR 68550	12/16/2019

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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: 1

IC Title	Form No.	Form Name
Rule 18a-8 Notice

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ICR Summary of Burden

	Total Request	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	5	0	5	0	0	0
Annual Time Burden (Hours)	5	0	5	0	0	0
Annual Cost Burden (Dollars)	0	0	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:

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Annual Cost to Federal Government:

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: 05/05/2021

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